All the banking services and scheme provided by Indian Post Office.

1. INDIAN POST OFFICE
PRESENTED BY:
1. DRISHTI SONI
2. GUNJAN AGRAWAL
3. HAARDIK SHRIMALI
4. HARSH PANDYA
5. HARSHITA MEHTA
6. HRITVIK SONI
7. JAI HARKAWAT
FACULTY OF MANAGEMENT
STUDIES
PRESENTED TO:
DR. SWATI MA’AM

2. CONTENTS
 AN OVERVIEW
 POST AND MAIL OPERATIONS
 PREMIUM SERVICES
 FINACIAL SERVICES
 NEW BANKING SERVICES
 SWOT ANYALSIS
 SUGGESTIONS AND CONCLUSION

3. An Overview
HISTORY

4. OVERVIEW
 A post office is a public department that provides a customer service to the
public and handles their mail needs. Post offices offer mail-related services such
as acceptance of letters and parcels; provision of post office boxes; and sale of
postage stamps. In addition, post offices also offer additional services: providing
and accepting government forms (such as passport applications), processing
government services and fees (such as road tax), and banking services (such as
savings accounts and money orders). The chief administrator of a post office is
called a postmaster.
 Indian Post Office was established in 1837.

5. OVERVIEW
 Post office in India, is the most widely distributed postal system in the world. . Post
Office Network India has the largest Postal Network in the world with over 1,55,015
post offices, of which 89.86% are in the rural areas
 The country has been divided into 23 postal circles, each circle headed by a Chief
Postmaster General.
 Indian Post, is a government-operated postal system in India under the Department of
Posts, which is part of the Ministry of Communications of the Government of India.
 It is involved in delivering mails, remitting money by money orders, accepting deposits
under Small Savings Schemes, providing life insurance cover under Postal Life Insurance
(PLI) and Rural Postal Life Insurance
 (RPLI) and providing retail services like bill collection, sale of forms, etc.

6. POST AND MAIL
OPREATIONS

7. POST AND MAIL
 Media Post : Reach millions through Advertisement on post cards, letter walls of
post offices, letter boxes , post cards and stationary.
 Direct Post : Distributing Advertising material directly to prospective customers
 International Money Transfer Service : This service enables remittance of money
from 185 countries in India. The recipient can in fact collect the money in minutes
after the sender has made the remittance ,The service is targeted to particularly Fulfill
the needs of NRI dependent families in India , visiting international tourist and
foreign students studying in India.
 Instant money order services : It is online money transfer service. That is instant convenient ,
Reliable , and affordable. Imo is a instant web based money transfer service through post office
(imo centre ) in India between two resident individuals in Indian territory. You can transfer
money from 1000 to 50000 From designated imo post office It is simple to send and receive
money

8. PREMIUM SERVICES

9. PREMIUM SERVICES
 Post Office Passport Seva Kendras
 Parcel & Logistics
 Cash On Delivery
 Flat Rate Parcel
 Retail Post
 E-Product

10. 1. Post Office Passport Seva Kendras (POPSK)
To extend passport services to citizens on a larger scale and to ensure wider
coverage, the Ministry of External Affairs (MEA) and the Department of Posts
(DOP) have agreed to leverage select Head Post Offices (HPO) in various States
POPSK .
2.Parcel & Logistics
Logistics Post offers customers a range of integrated logistics and fulfillment
services that can be tailor-made to suit the requirement of the customers.
Express Parcel is a premium parcel service available for retail as well as bulk
customers, which offers time bound, safe and secure home delivery of parcels.
Business Parcel aims to provide an economical distribution solution to
corporate customers by providing surface transmission of parcels.

11. 3.Flat Rate Parcel
It was introduced on 4th February, 2011. It is an air express parcel service. It provides an
added convenience to the customers by offering them pre-paid Flat Rate Parcel boxes.
4.Retail Post
India post is leveraging the vast network of Post Office across the country by providing
services under Retail Post which include collection of electricity bills, telephone bills,
taxes and fees.
5.E-PRODUCT
E-Post is an unregistered hybrid mail product which provides electronic transmission
of messages which may include text messages, scanned images, pictures, etc. and their
delivery in hard copies at the destination through postman/delivery staff.
E-Payment is a smart option for businesses and organizations to collect their bills or
other payments through Post Office network. The collection is consolidated
electronically using web based software and payment is made centrally through
from a specified Post office of biller’s choice.

12. E-Post office
E-Post office is an e-commerce portal of department of post which
select postal facility to the common man through the internet.
E-IPO ( Electronic Indian Postal Order)
E-IPO was launched by Department if Posts on 22nd March,2013 to enable
Indian
Citizens living abroad to pay the RTI fee online through the E-Post Office
portal .

13. FINANCIAL SERVICES

14. POST OFFICE SAVING SCHEMES
 SAVINGS ACCOUNTS
 5-YEAR RECURRING DEPOSIT (RD)
 TIME DEPOSIT
 MONTHLY INCOME SCHEME
 PUBLIC PROVIDENT FUND ACCOUNT
 NATIONAL SAVING CERTIFICATES (NSC)
 SENIOR CITIZEN SAVING SCHEME ACCOUNT
 SUKANYA SAMRIDDHI ACCOUNTS

15. SAVINGS ACCOUNTS
Interest payable, Rates,
Periodicity etc.
Minimum Amount for
opening of account and
maximum balance that can
be retained
4.0% per annum on individual /
joint accounts
Minimum INR 20/- for opening

16. FEATURES OF SAVING ACCOUNTS
 Account can be opened by cash only
 Minimum balance to be maintained in a non-Cheque facility
account is INR 50/-
 Cheque facility available if an account is opened with INR 500/-
and for this purpose minimum balance of INR 500/-in an account
is to be maintained
 Cheque facility can be taken in an existing account also
 Interest earned is Tax Free up to INR 10,000/- per year

17. Interest payable, Rates, Periodicity etc. Minimum Amount for opening of account
and maximum balance that can be
retained
•From 01.0 1.2019, interest rates are as
follows:-7.3 % per annum (quarterly
compounded)
•On maturity INR 10/- account fetches INR
725.05 . Can be continued for another 5
years on year to year basis
Minimum INR 10/- per month or any
amount in multiples of INR 5/-. No
maximum limit.
5-YEAR RECURRING DEPOSIT (RD)

18. FEATURES OF 5-YEAR (RD)
 Account can be opened by cash / Cheque and in case of Cheque the date
of deposit shall be date of presentation of Cheque
 Nomination facility is available at the time of opening and also after
opening of account
 Account can be transferred from one post office to another
 Any number of accounts can be opened in any post office
 Account can be opened in the name of minor and a minor of 10 years and
above age can open and operate the account.
 There is rebate on advance deposit of at least 6 installments
 Single account can be converted into Joint and Vice Versa

19. Interest payable, Rates, Periodicity etc. Minimum Amount for opening of
account and maximum balance that can
be retained
Interest payable annually but calculated
quarterly.
Minimum INR 200/- and in multiple
thereof. No maximum limit.
Interest rates From 01.01.2019
Period Rate
1yr.A/c 7.0%
2yr.A/c 7.0%
3yr.A/c 7.0%
5yr.A/c 7.8 %
TIME DEPOSIT ACCOUNT

20. MONTHLY INCOME SCHEME
Interest payable, Rates, Periodicity etc. Minimum Amount for opening of
account and maximum balance that can
be retained
•From 01.01.2019, interest rates are as
follows:-7.3 % per annum payable
monthly.
•In multiples of INR 1500/-
•Maximum investment limit is INR 4.5
lakh in single account and INR 9 lakh in
joint account
•An individual can invest maximum INR
4.5 lakh in MIS (including his share in
joint accounts)
•For calculation of share of an individual
in joint account, each joint holder have
equal share in each joint account.

21. FEATURES OF MIS
 Account can be opened in the name of minor and a minor of 10 years
and above age can open and operate the account.
 Joint account can be opened by two or three adults.
 All joint account holders have equal share in each joint account
 Can be prematurely en-cashed after one year but before 3 years at the
discount of 2% of the deposit and after 3 years at the discount of 1% of
the deposit. (Discount means deduction from the deposit.)
 Maturity period is 5 years

22. SENIOR CITIZEN SAVING SCHEME
Interest payable, Rates, Periodicity
etc.
Minimum Amount for opening of
account and maximum balance that
can be retained
•From 01.01.2019 , interest rates are
as follows:-8.7 % per annum, payable
from the date of deposit of 31st
March/30th Sept/31st December in
the first instance & thereafter,
interest shall be payable on 31st
March, 30th June, 30th Sept and 31st
December.
There shall be only one deposit in the
account in multiple of INR.1000/-
maximum not exceeding INR 15 lakh.

23. FEATUERS OF SCSS
 An individual of the Age of 60 years or more may open the account
 An individual of the age of 55 years or more but less than 60 years who has
retired on superannuation or under VRS can also open account subject to the
condition that the account is opened within one month of receipt of retirement
benefits and amount should not exceed the amount of retirement benefits.
 A depositor may operate more than one account in individual capacity or jointly
with spouse (husband/wife).
 Account can be opened by cash for the amount below INR 1 lakh and for INR 1 Lakh and
above by Cheque only.
 In case of Cheque, the date of realization of Cheque in Govt. account shall be
date of opening of account.

24. PUBLIC PROVIDENT FUND ACCOUNT
Interest payable, Rates, Periodicity etc. Minimum Amount for opening of
account and maximum balance that
can be retained
•From 01.01.2019, interest rates are as
follows:-8 % per annum (compounded
yearly).
Minimum INR. 500/- Maximum INR.
1,50,000/- in a financial year.
Deposits can be made in lump-sum or
in 12 installments.

25. PUBLIC PROVIDENT FUND
 An individual can open account with INR 100/- but has to deposit
minimum of INR 500/- in a financial year and maximum INR 1,50,000/-
 Premature closure is not allowed before 15 years.
 Interest is completely tax-free.
 Loan facility available from 3rd financial year.

26. Sukanya Samriddhi Accounts
Interest payable, Rates, Periodicity
etc.
Minimum Amount for opening of
account and maximum balance that
can be retained
Rate of interest 8.5% Per Annum(with
effect from 01-0 1-2019 ),calculated
on yearly basis ,Yearly compounded.
Minimum INR. 1000/-and Maximum
INR. 1,50,000/- in a financial year.
Subsequent deposit in multiple of
INR 100/- Deposits can be made in
lump-sum No limit on number of
deposits either in a month or in a
Financial year

27. Sukanya Samriddhi Accounts
 A legal Guardian/Natural Guardian can open account in the name of Girl Child.
 A guardian can open only one account in the name of one girl child and
maximum two accounts in the name of two different Girl children.
 If minimum Rs 1000/- is not deposited in a financial year, account will become
discontinued and can be revived with a penalty of Rs 50/- per year with minimum
amount required for deposit for that year.
 Account can be closed after completion of 21 years.
 Normal Premature closure will be allowed after completion of 18 years /provided
that girl is married

28. MONEY REMITTANCE SERVICES
 MONEY ORDER
 MONEY GRAM-MONEY TRANSFER
 ELECTRONIC CLEARANCE SERVICE (ECS)
 IFS MONEY ORDER

29. POSTAL LIFE INSURANCE
 It was started in 1884. Oldest life insurance scheme.
 It opens for employees of all central & state government
department , Nationalized banks , public sector undertaking ,
financial institutions, employees of listed companies of NSE &
BSE.
 It Is scheme where you are offered life insurance cover with
higher returns of the premium .
 Under this scheme you can assure a maximum sum of RS 50lac

30. Policies covered under postal life insurance :
1.Whole life assurance (suraksha)
2.Convertiable whole life assurance (suvidha)
3.Endowment policy (Santosh)
4.Anticipated Endowment assurance for 15 and 20 year (sumangal)
5.Joint life Endowment assurance (yugal suraksha)
6. Children policy ( Bal jiwan bima)
KEY FEATURES OF PLI :
1.Nomination facility
2.Policy Revival
3.Conversion of policy
4.Loan facility
5.Duplicate policy document.

31. NEW BANKING SERVICES
WHAT IS IPPB ?

32. What is IPPB ?
 Prime Minister Narendra Modi launched the
India Post Payments Bank (IPPB) on 1st
September 2018.

33. How it will function?
 Focus on providing banking and financial services to people
in rural areas, by linking all the 1.55 lakh post office branches
with the IPPB services .
 Around 11,000 postmen both in rural and urban areas will
provide doorstep banking services .
 IPPB has been allowed to link around 17 crore postal savings
bank with its accounts.
 It has been launched with 650 branches in addition to access
points 3250 co-located at post offices.

34. PRODUCTS
1. Savings Account
2. Current Account
Key Account Features and Benefits
 Banking at your convenience
 Instant and paperless account opening
 Interest rate of 4% p.a. , paid quarterly
 No monthly average balance required to be maintained
 The account can be opened with zero balance
 Free quarterly account statement
 Mini statement through SMS
 Simplified banking services through QR card
 Instant fund transfer through IMPS
 Easy bill payment and recharges
 Can be linked to POSA (Post Office Savings Account)

35. SERVICES
 Mobile Banking
 SMS Banking
 Missed Call Banking
 Phone Banking
 QR Card

36. Door Step Banking
Services Offered by IPPB’s Doorstep Banking
 Account Opening
 Cash Deposits/Withdrawals
 Money Transfers
 Recharge and Bill Payments
 Additional Services
 Third-party Services

37. Payments
Bill Payments
Remittances and Fund Transfers
Direct Benefit Transfers

38. What makes us different?
 Free account opening at your doorstep
 Assisted services through the GDS, as and when required
 Availability of funds at your doorstep, upon request
 Bill payment facility at your doorstep
 Simple and secure banking with QR card
 Multilingual customer support
 No commitment of minimum balance
 Nominal charges
 Day end balance above Rs. 1 lakh can be swept into linked POSA (Post
Office Savings Account)
 Access to our growing merchant network
 Unlimited cash deposits and withdrawals

39. SWOT ANALYSIS

40. STRENGTHS
 Wide network and Infrastructure.
 Safety with respect to Deposits.
 Affordable financial products available for
 economically weaker people.
 Wide range of financial products.

41. WEAKNESS
 Lack of upgradation in services.
 Lack of feedback in communication process.
 Less advertisements as compared to competitors.
 Job stress among employees

42. OPPORTUNITIES
 Consumers prefer Mutual funds as another investment
avenue.
 Motor Insurance Policy is the most taken General insurance
policy by the Indian customers.
 Self service passbook printing and self service cash deposit
facilities.
 Consumer Durable loans can be provided

43. THREATS
 Insurance companies.
 Banking sector.
 Customer dissatisfaction.

44. SUGGESTIONS
• Job rotation policy should be adopted
• Soft skill training should b provided to the employees
• A true and fair feedback system should b there where each employee can put
their words without any fear
• Employees should b motivated to provide suggestions.
• A proper dress code should be there to form uniformity among employees.
• An attractive infrastructure attracts the customers. Therefore, attention should
be given to infrastructure.
• The Indian postal service department should adopt an adequate promotional
policy.