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Madan Sabnavis: Why ‘Post Bank of India’ has few assets

… it seems an India Post Bank will probably not work. Several regulatory and logistic issues have to be surmounted. One line of thought is that if the infrastructure is the premise on which post offices can become banks, then these post offices should ideally be leased wherever possible to banks on rent – which will help the department cut its losses.

Read more: Madan Sabnavis: Why 'Post Bank of India' has few assets | Business Standard.

India: postal employees to go on strike

About 30,000 employees are expected to take part in the strike on Wednesday and Thursday

Postal employees in the city plan to go on a two-day strike, starting Wednesday, for various demands, including absorption of gramin dak sevaks as regular employees and reversal of the ban on recruitment.

Postal operations are likely to be affected on these days with various unions, including the National Federation of Postal Employees and Postal Employees Progressive Union, functioning in the State joining the nationwide strike.

About 30,000 employees are expected to take part in the strike.

Read more: Postal employees to go on strike – The Hindu.

Indian postman cleared of stealing less than $1 after 29 years

An Indian postal worker who was accused of stealing less than $1 in 1984, has been cleared by a court after nearly 350 court hearings over 29 years.

Umakant Mishra was suspended from his job after being charged with fraud when 57 rupees and 60 paise (92 cents; 56 pence) went missing in his post office.

Mr Mishra told BBC Hindi that the battle to clear his name reduced him to penury and his family would have starved if not for his relatives.

He is now seeking compensation.

Correspondents say cases in Indian courts can drag on for years, even decades, and official figures show that more than 30 million cases are pending in Indian courts, some dating from 1950.

Read more: BBC News – Umakant Mishra: Indian postman cleared of stealing less than $1 after 29 years.

Move on Postal Privatisation Opposed in India

A nationwide agitation would be launched against the Government’s move to privatise postal services including railway mail and MMS, said president of National Confederation of Postal Employees, Giriraj Singh, on the concluding day of the two-day national open convention here on Monday.

Addressing the gathering, he demanded that the Government should roll back its Postal Policy of 2012 at the earliest.

The convention finalised a charter of demands which included scrapping of the new Labour Act and pension policy, appointment of a commission for Seventh Pay Commission, revision of pay every five years, filling up various vacancies, parity in pension, regularisation of services of temporary employees, addition of 50 per cent of DA in basic pay and prevention of contract labourers.

Read more: Move on Postal Services Opposed – The New Indian Express.

Postal banks to be set up soon in India

India Post, the Department of Posts, which has already been offering services like savings accounts, postal life insurance, Public Provident Fund, recurring deposits, pension payments and money transfer, will soon have its own full-fledged bank.

Bank of India RBI within a month or so when it would issue licences to the short-listed applicants.

A senior official of the General Post Office here told Khaleej Times that the PBI would provide banking services, including accepting of deposits from the public for lending or investment. In addition to deposit schemes, the PBI will also provide loans to general public and corporates like any regular bank. The first such bank with an ATM will be opened at the computerised Navrangpura post-office in the city.

Read more: Postal banks to be set up soon in India – Khaleej Times.

Postal services still in demand

For 16-year-old S. Neeraja who accompanied her father to the post office at North Veli Street on Wednesday morning, the idea of sending letters or postcards by post was new. “I have an email address and so do all my friends and cousins. We also have “apps” on our phone that enables instant messaging” she explained.

She and others like her belong to a generation that depends on technology for instant communication. But the stream of people walking in and out of the post office is evidence that the postal services in the city are still relevant.

Read more: Postal services still in demand – The Hindu.

Postal services need a boost to compete with New Age tech

MUMBAI: Governments across the world need to support reforms in postal services, stated senior officials of the United Nations who expressed concern about the survival of physical post offices at a time when technology is rapidly revolutionalising channels of communication.

There are an estimated 600,000 postal offices across the world and the sector is among the world’s biggest employers with more than 5 million staffers employed across the globe. While physical letters generate about half of post’s revenues as per UN estimates, post offices like in India have been forced to diversify into areas such as e-commerce and financial services to sustain.

Read more: Postal services need a boost to compete with New Age tech – The Times of India.

India: New Postal Act could deal a severe blow to the $2 billion courier industry

In what could significantly up the operating cost of corporations and have huge implications for $2 billion Indian courier industry as well as for the individual consumers, the Department of Post (DoP) is in advanced stages of proposing amendments to the over hundred year old Indian Postal Act. The amendments which will soon be moved to Parliament for a discussion, will mandate courier companies to charge atleast Rs 70 per for every non-local courier. This is double of minimum Speed Post rate currently and significantly higher than what courier companies normally charge for small packets.

Read more: New Postal Act could deal a severe blow to the $2 billion courier industry | Business Standard.

Going gets tough for postal agents in Chennai

Over the past two years, the number of postal savings agents has reduced drastically in the city.

Unable to cope with the heavy cut in commissions and mounting daily expenses, many of the 42,000 postal savings agents have either diversified to other careers or remain inactive.

In Chennai, of the 2,000 agents, only 500 continue to serve depositors. These agents are involved in popularising postal saving schemes and act as a link between investors and the postal department.

Read more: Going gets tough for postal agents in Chennai – The Hindu.

Going gets tough for postal agents in Chennai

Over the past two years, the number of postal savings agents has reduced drastically in the city.

Unable to cope with the heavy cut in commissions and mounting daily expenses, many of the 42,000 postal savings agents have either diversified to other careers or remain inactive.

In Chennai, of the 2,000 agents, only 500 continue to serve depositors. These agents are involved in popularising postal saving schemes and act as a link between investors and the postal department.

Read more: Going gets tough for postal agents in Chennai – The Hindu.