If you are in home during day time in early 90's, you might have heard a voice says "Sirrrrrrrrrrrrrr... Post...." at your door step quite frequently. Most of us might have been for that voice eagerly on various occasions as the telephone communication itself was far beyond compared to what we see in this digital India...!!!
Globalization and Privatization has its own hand in every sector and Postal department of India is also NOT an exception to it. It has lost its part of game to Private courier services which are faster with easy trace-ability.
There is a theory in IT industry that a multi skilled professional never loses his job and the same applies to India post as well. India post is the one of the well established organization which has its presence in every corner of India and Government of India was never letting India post to do the postal work alone. It was one of the key factor to make the govt plans reach people quite faster. India post was involved in the "money" business for a quite long time as an additional skill. It was providing multiple services related to Money. But, it was operating in a traditional way where you can imagine a group of oldies sitting and working in a 'Booth' Bungalow at a real slower phase like Zombies :-)
Recently around 2015, India post has stretched its wings and added more glamour to its money business as a Payment bank. With the core banking system in place along with Payment bank license from RBI, It has started providing various financial services which is dancing along with government policies like financial Inclusion, financial literacy etc.
I was surfing for different details on postal services and landed on this payment bank. I was approaching it imagining the same old face which provides the money order services and few government bonds sales. Do you know that India post is offering services in Insurance, Forex & Mutual funds areas? Surprised right? I was also surprised to see that they are having ATM's, Internet banking and providing ATM+Debit cards to their customers. But, they are still in a very younger stage of this business and these services are available only in the limited branches.
India post is also offering different small savings schemes for us. Yeah, everyone might have heard about postal small savings scheme during school days. But, who remembers it..! Also these services are not advertised as much as other financial institutions does. Along with that, they don't have different tools like Interest calculator, Maturity calculator etc similar to modern day banks to attract its customers. So, I was searching for tools in internet for each savings schemes and found that the http://finotax.com/misc/po-calc page has the calculator for all India post schemes in one place. It is easy to use this tool to find out the interest rate for different period, Interest amount & Maturity value. It will provide better vision to the investors on the investment returns. Actually after exploring these schemes, I found that India post is offering better rates and returns comparing to even nationalized banks in certain areas!! So I thought of posting it through this post about India post... :-)
R'evolution has an evolution in it and India post has both revolution and evolution in it now. I always believe that the government organizations are key to provide better services to Indian citizens to post the bigger Image of our country in the world and India post is right direction to do it....Way to go.... :-) Please follow this blog for further information on savings and investments...
Globalization and Privatization has its own hand in every sector and Postal department of India is also NOT an exception to it. It has lost its part of game to Private courier services which are faster with easy trace-ability.
There is a theory in IT industry that a multi skilled professional never loses his job and the same applies to India post as well. India post is the one of the well established organization which has its presence in every corner of India and Government of India was never letting India post to do the postal work alone. It was one of the key factor to make the govt plans reach people quite faster. India post was involved in the "money" business for a quite long time as an additional skill. It was providing multiple services related to Money. But, it was operating in a traditional way where you can imagine a group of oldies sitting and working in a 'Booth' Bungalow at a real slower phase like Zombies :-)
Recently around 2015, India post has stretched its wings and added more glamour to its money business as a Payment bank. With the core banking system in place along with Payment bank license from RBI, It has started providing various financial services which is dancing along with government policies like financial Inclusion, financial literacy etc.
I was surfing for different details on postal services and landed on this payment bank. I was approaching it imagining the same old face which provides the money order services and few government bonds sales. Do you know that India post is offering services in Insurance, Forex & Mutual funds areas? Surprised right? I was also surprised to see that they are having ATM's, Internet banking and providing ATM+Debit cards to their customers. But, they are still in a very younger stage of this business and these services are available only in the limited branches.
India post is also offering different small savings schemes for us. Yeah, everyone might have heard about postal small savings scheme during school days. But, who remembers it..! Also these services are not advertised as much as other financial institutions does. Along with that, they don't have different tools like Interest calculator, Maturity calculator etc similar to modern day banks to attract its customers. So, I was searching for tools in internet for each savings schemes and found that the http://finotax.com/misc/po-calc page has the calculator for all India post schemes in one place. It is easy to use this tool to find out the interest rate for different period, Interest amount & Maturity value. It will provide better vision to the investors on the investment returns. Actually after exploring these schemes, I found that India post is offering better rates and returns comparing to even nationalized banks in certain areas!! So I thought of posting it through this post about India post... :-)
R'evolution has an evolution in it and India post has both revolution and evolution in it now. I always believe that the government organizations are key to provide better services to Indian citizens to post the bigger Image of our country in the world and India post is right direction to do it....Way to go.... :-) Please follow this blog for further information on savings and investments...
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