Sunday, 24 September 2017

Your postman may soon become the point of contact for all your financial work


NEW DELHI: Come 2018 and the humble postman will be armed with a high-tech device that will enable him to carry out various financial transaction at the door step of people. 

The India Post Payment Bank, which plans to launch nationwide operations by March 2018, is coming up with a large contract to source such devices for more than 1.5 lakh postmen. 

The equipment, a micro-ATM of sorts, will have a biometric reader, a printer and a debit card and credit card reader attached to it. A tender for 2 lakh such devices is almost ready and will be released in a month’s time, India Post Payment Bank chief executive AP Singh told ET. Hewlett Packard Enterprise has already been chosen to build the backend for India Post Payment Bank as a system integrator. 

“The idea is to streamline and focus on payments through the bank. We have identified close to one dozen payments, including utility bills such as gas and electricity, mobile, DTH, school fees, etc.”, which the payments bank will seek to facilitate, Singh said. India Post is working on an app that will enable these payments. 

It will also allow booking of bus and unreserved train tickets, categories which are highly cash dependant. “Even small payments such as for fruits and vegetable, and welfare payment transfers under the direct benefits transfer scheme are on the radar,” said Singh. 

“We have to focus on payments rather than deposits,” said Singh. Reserve Bank of India rules don’t allow payments banks to take deposits, the key and cheap source of funds for conventional banks. To generate revenue, India Post Payment Bank will charge each payment transaction that happens through its app, either from the customer or the bill company, Singh said. 

“The Post Office already has 35 crore accounts, we are targeting around 8 crore households in the next five years (as customers for the payments bank).” 

At a recent UN conference, Singh had said while private sector rivals such as Paytm and Airtel Payments Bank would skim the market from the top, India Post would have a bottoms up approach. Arming the postman with the micro-ATM and turning him into a sort of a banking correspondent may be part of the plan to target rural and the semi-urban areas. 

“The micro ATM and the banking correspondent model has been tried and may help in turning cash into digital at the last leg, even though it may take some time,” said Vivek Belgavi, partner and India FinTech Leader at PwC. 

In a village, the nearest bank branch may be 10-25 kms away and the India Post, with its huge network of post offices and postmen, may be able to effectively cater to that audience, he added. The proposed India Post app will allow person-to-person transactions. 

In the dozen key bill payments it is targeting, those who aren’t familiar with operating an app on their own can approach the postmen armed with micro-ATMs to help them make payments. 

Meanwhile, as opposed to the earlier plan of having separate branches for the payment bank, India Post is looking to capitalise on the existing network of 1.55 lakh post offices and 3 lakh employees on the postal network.  
Source : http://economictimes.indiatimes.com/

Saturday, 23 September 2017

JUSTIFICATION OF DEMAND RAISED BY CENTRAL TRADE UNIONS FOR MAHAPADAV NEW DELHI ON 9-11 NOVEMBER 2017

GRANT OF DEARNESS ALLOWANCE REVISED RATES FROM 01/.07/2017 - DEPT OF POSTS ORDER


Unanimous declaration in the State Level Joint Convention organized by Central Trade Unions and Independent Federations of Odisha in Bhubaneswar on 23.09.2017



State Level Joint Convention organizedsuccessfully by Central Trade Unions and Independent Federations in Bhubaneswar on 23.09.2017

NFPE, Odisha was represented by Com. B Samal, Circle Secretary, AIPEU, Group-C, Odisha Circle.

Promotion and posting of Senior Time Scale (STS) officers of the Indian Postal Service (IPoS), Group 'A' to Junior Administrative Grade (JAG) of the Service and transfers/postings of Junior Administrative Grade (JAG) officers

Mascot Design Competition for Postal life Insurance/Rural Postal Life Insurance

Commemorative postage stamps on "DIWALI INDIA CANADA: JOINT ISSUE"


India Post issued a set of 2 commemorative postage stamps on "DIWALI INDIA CANADA: JOINT ISSUE" of denominations Rs 25 and Rs 5 each on 21.09.2017

3 Day Relay Dharna before Parliament

S B Order No. 12 / 2017 : Revision of Commission to SAS Agents on KVP


Happy Navratri



Travel entitlements of Government employees for the purpose of LTC post Seventh Central Pay Commission-clarification reg

Disbursement of Salary for the month of September-2017


Grant of Dearness Allowance to C G Employees - Revised rates effective from 01.07.2017


ANOTHER ATTACK ON TRADE UNION RIGHTS

On call of Confederation for organizing Dharna on 19th September 2017 & 17th October 2017 DOP&T has issued a Threatening circular which is placed below.


Trade unions have every right to protest the anti-working class policies of the Government and we will remain organizing agitational programmes as per the right provided by the constitution of India.