New Tech routes at India Post With 155,000 locations, India Post serves a critical role in facilitating the distribution of funds in a country where less than 50 percent of the population has a bank account.

Dear Comrades,

TORONTO: MoneyGram International, a global money transfer company, and India Post, the largest distribution postal network in the world, announced that their existing agreement to offer money transfer services through India Post outlets has expanded from an initial 100 locations to more than 650 locations across the country.

Postal Deposits come under Section 80C of the Income Tax Act-1961

Dear Comrades,

Following Postal Deposits come under Section 80C of the Income Tax Act-1961
S.No.	Plain Type	Interest	Min.Investment	Max. Investment	Future
1	NSC-5 Years	8.25	100	No limit	NO TDS
2	NSC-10 Years	8.70	100	No limit	NO TDS
3	Time Deposit	7.70-8.30	200	No limit	Available 1to 5 years
4	Senior Citizen Saving Scheme	9	1000	1500000	5 years tenure ,
					Minimum age 55
5	Public Provident Fund	8.6	500	1 Lakh Per Year	15 Years term,
					Tax Free returns
	http://www.caclubindia.com/forum /postal-deposits-192758.asp

India's postal services to cost more

Dear Comrades,

For the first time in ten years, India Post will soon increase charges for postal services up to 20 per cent to meet its operational costs.

The decision, which awaits the Reserve Bank of India's approval, would rake in additional revenue of about Rs.1,000 crore as it gears up to convert more than 1.5 lakh post offices into full-fledged banks.

The hike on speed post, inland letters, money orders and postcards also comes because the government has moved towards corporatisation of India Post.

Post offices currently offer financial services such as savings bank accounts, postal life insurance, pension payments and money transfer services.

A top India Post official confirmed that the hike has been approved by the Postal Regulatory Commission. India Post officials argue that the charges are heavily subsidised and much lower than the cost of services being offered by private courier services.

Despite having initiated the new hybrid mail service ePost, railway ticket vending and sale of gold coins, India Post has not been able to generate additional revenue. Till last November, it earned over Rs.81 lakh.

http://indiatoday.intoday.in/story/india-postal-services-to-cost-more/1/177193.html

Introduction of New Trains and Other Services : Railways - Koraput District gets Koraput - Visakhapatnam Intercity Express

Dear Comrades,

Railway Minister Announces Introduction of New Trains and Other Services
The move Implements the Announcements made in the Railway Budget 2011-12

The Minister of Railways, Shri Dinesh Trivedi today announced introduction of 26 new trains, extension of five existing trains, increase in frequency of two existing trains and introduction of new five sub-urban trains.  Most of these new services announced were part of the Railway Budget 2011-12.  The trains announced in the Railway Budget 2011-12 are implemented by the end of the financial year i.e. 31^st March 2012.     

MEETING WITH CGM PLI

Dear Comrades,

MEETING WITH CGM PLI

Administrative Union, NFPE holds meeting under the Leadership of Secretary General Com. M. Krishnan with Chief General Manager, Shri S.K.Sinha at the Directorate of Postal Life Insurance on 06.03.2012 and express concern over the existence of the office of the Director, Postal Life Insurance, Kolkata.

A meeting was held in the Directorate of Postal Life Insurance Chankyapuri, New Delhi under the Leadership of Com. M. Krishnan, Secretary General, NFPE to discuss the issues relating to the office of the Director Postal Life Insurance, Kolkata in the event of modernization and recent proposals from PLI, Directorate.

Celebration of Holi at Jeypore

Dear Comrades,

Celebration of Holi at Jeypore

Significance of HOLI

Dear Comrades,

In spite of being such a colourful and gay festival, there are various aspects of Holi which makes it so significant for our lives. Though they might not be so apparent but a closer look and a little thought will reveal the significance of Holi in more ways than meets the eyes. Ranging from socio-cultural, religious to biological there is every reason why we must heartily enjoy the festival and cherish the reasons for its celebrations.

 
So when, its time for Holi, please don't hold yourself back and enjoy the festival to the hilt by participating with full enthusiasm in every small tradition related to the festival.

Speed Post, money orders may get costlier : The new tariffs are expected to be implemented by April and will generate additional revenue of Rs.1,000 crore for the department

Dear Comrades,

New Delhi: India’s department of posts has proposed to raise tariffs for most of its services, including Speed Post, money orders, postcards and inland letters, by 15-20% for the first time in 10 years to cover increased costs of printing and transportation.

File Photo

The new tariffs are expected to be implemented by April and will generate additional revenue of Rs. 1,000 crore for the department, according to two department of posts officials, who declined to be named.

“The last time the rates were increased was in 2002. Since then, the cost of printing and transportation has gone up significantly; the tariffs need to be hiked significantly,” one of them said.

The proposal has been approved by the seven-member Postal Commission that decides on policies. 

The Postal Commission is headed by the secretary of the department of posts. The commission has approved the tariff increases and has forwarded the proposal to Sachin Pilot, junior minister in the ministry of communications and information technology, for approval.

The increase in tariff for Speed Post can be implemented once the minister approves it. Hikes in tariff for the most of the other services need a change in the Postal Act.

The postal department has been running at a loss for a number of years. Its deficit widened to Rs. 5,632.46 crore in the year ended 31 March 2010 from Rs. 3,593.09 crore the previous year, Gurudas Kamat, a former minister of state for communications and information technology, had told Parliament in reply to a question.

The latest deficit numbers were not available.

The deficit had increased substantially because of an increase in salaries and pension because of the implementation of Sixth Pay Commission.

“The main reason (for the deficit) is that the rates of most of the postal services do not reflect the market price as they are subsidized to make them within the reach of common man and to the remotest area of the country,” Kamat had said.

In recent years, the postal department has started a number of services—including ePost, railway ticket vending and the sale of gold coins—to increase revenue and stay relevant in the age of email.

EPost is a hybrid mail service through which as many as 992,000 messages were sent until November, earning the department Rs. 81.07 lakh. Between January and October 2011, it earned Rs. 2.04 crore as commission by selling 1.37 million railway tickets through post offices, and Rs. 6.25 crore by selling 591.4kg of gold coins in 2011.

http://www.livemint.com/2012/03/07233914/Speed-Post-money-orders-may-g.html

Happy Holi

Dear Comrades,

Happy Holi

India Post and Western Union extend relationship for three more years

Dear Comrades,

The Department of Post (India Post) and Western Union have renewed their long standing relationship for offering money transfer services for another three years. With India Post offering Western Union Money TransferSM Services across more than 7,000 locations in the country, the extension of the relationship means continued convenience of sending and receiving money for millions of Indians.