postal deposit swot analysis

7/23/2019 Postal Deposit Swot Analysis

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PROJECT REPORT ON

POSTAL DEPOSIT SCHEMES SWOT ANALYSIS

Submitted to

Unie!"it# o$ Mumb%i

In P%!ti%& 'u&$i&&ment O$ T(e Re)ui!ement

'o!

M*Com +A,,ount%n,#- Seme"te! IIIIn t(e "ub.e,t

RESEARCH METHODOLO/Y

0#

N%me o$ t(e "tudent 1 2 A"(3ini Ani& Mun.

Ro&& No* 1 2 4526788

N%me %nd %dd!e"" o$ t(e ,o&&e9e

:* ;* Pend(%!


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DECLARATION

I ASHWINI ANIL MUNJ Roll No. 4526788, the student of M.Com

(Accountancy) Semester III (2015), :* ;* Pend(%!


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AC:NOWLED/EMENT

It s a $leasure to than* all those ho made ths $ro%ect or* $oss#le.

I /han* the Alm&hty od for hs #lessn&s n com$letn& ths tas*. /he

successful com$leton of ths $ro%ect s $oss#le only due to su$$ort and

coo$eraton of my teachers, relat"es, frends and ellshers. I ould l*e

to etend my sncere &rattude to all of them.

I am h&hly nde#ted to 'rnc$al

, Coordnator , and my su#%ect teacher

for ther encoura&ement, &udance and su$$ort.I also ta*e ths o$$ortunty to e$ress sense of &rattude to my $arents for

ther su$$ort and coo$eraton n com$letn& ths $ro%ect.

3nally I ould e$ress my &rattude to all those ho drectly and ndrectly

hel$ed me n com$letn& ths $ro%ect.

N%me o$ t(e "tudent

ASHWINI ANIL MUNJ

4


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CONTENT

PARTICULERS PA/E NO

1. Ac*noled&ement . 02

2. 6eclaraton..04

4. Introducton.05

7. 8son And Msson09

5. :#%ect"e..0;

9. +story..0 and rules madethere under as ell as other las or enactments ha"n& a #earn& on $ostal act"tes, not

s$ecfcally allotted to any other 6e$artment

10


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O&d Lo9o

/he ?rtsh ast Inda Com$any esta#lshed $ost offces n Mum#a, Chenna andBol*atafrom 1;971;99, each ser"n& the ?om#ay, Madras and Calcutta $resdences.

6urn& arren +astn&sL&o"ernorsh$, $ostal ser"ce as made a"ala#le to the &eneral

$u#lc. A letter ould cost 2 annas (onee&hth of a Ru$ee) for dstances u$ to 100 mles(190 *m). 'ayments ould #e done throu&h co$$erto*ensG a letter as hand stam$ed

H$ost $adH f $ad for, otherse t as stam$ed H$ost un$adH or H#earn&H.

In 1>490 'un%a# Crcle, n 1>91 ?urma Crcle, n 1>99Central 'ro"nce Crcle and n 1>9< Snd Crcle as formed. ?y 1>>0 crcles had #een

formed n :udh(1>;0),Ra%$utana(1>;1), Assam(1>;4),?har (1>;;), astern ?en&al

(1>;>) and Central Inda (1>;


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/oe!n%n,e %nd o!9%ni%tion

/he $ostal ser"ce comes under the 6e$artment of 'osts hch s a $art of the Mnstry ofCommuncatons and Informaton /echnolo&y under the o"ernment of Inda./he a$e

#ody of the de$artment s the 'ostal Ser"ce ?oard. /he #oard conssts of a charman and

three mem#ers. /he three mem#ers hold the $ortfolos of :$eratons J Mar*etn&,Infrastructure J 3nancal Ser"ces, and 'ersonnel. /he ont Secretary and 3nancal

Ad"sor to the ?oard s also a $ermanent n"tee to the ?oard.

Inda has #een d"ded nto 22 $ostal crcles. ach crcle s headed #y a Chef 'ostmaster

eneral. ach Crcle s further d"ded nto Re&ons com$rsn& feld unts, called6"sons, headed #y a 'ostmaster eneral. :ther functonal unts l*e Crcle Stam$

6e$ots, 'ostal Stores 6e$ots and Mal Motor Ser"ce may est n the Crcles and

Re&ons.

?esdes the 22 crcles, there s a s$ecal Crcle called the ?ase Crcle to cater to the $ostal

ser"ces of the Armed 3orces of Inda. /he ?ase Crcle s headed #y an Addtonal6rector eneral, Army 'ostal Ser"ce holdn& the ran* of aMa%or eneral.

Net3o!


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/he o"ernment Sa"n&s Certfcates Act, 1


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/ENERAL PRO'ILE O' THE OR/ANISATION= 'UNCTIONS AND DUTIES

/he 6e$artment of 'osts comes under the Mnstry of Communcatons

and Informaton /echnolo&y, o"ernment of Inda, functons under the Mnster for

Communcatons and Informaton /echnolo&y, and has a Mnster of State forCommuncatons to assst the Mnster of Communcatons and Informaton

/echnolo&y n the dschar&e of "arous functons. /he Secretary, 6e$artment of

'osts, as the Chef ecut"e of the 6e$artment, s also the 6rector eneral, Inda

'ost, and the Charman of the 'ostal Ser"ces ?oard.

Shr. Ba$l s#al s the Mnster of Communcatons and Informaton

/echnolo&y And 6r. Sachn $lot s the Mnster of State for Communcatons and

Informaton /echnolo&y.

Ms. Man%ula 'rasher s the Secretary ('osts) to o"t. :f Inda as ell as 6rectoreneral, 6e$artment of 'osts and the Charman of the 'ostal Ser"ces ?oard.

/he 'ostal Ser"ces ?oard, the a$e mana&ement #ody of the 6e$artment,com$rses the Charman and three Mem#ers. /he Mem#ers of the ?oard hold $ortfolos

of :$eratons, 6e"elo$ment and 'ersonnel. /he ont Secretary and 3nancalAd"sor to the 6e$artment s a $ermanent n"tee to the ?oard. /he ?oard s

asssted #y a senor staff offcer of the 6rectorate as Secretary to the ?oard.

'resently, 6e$uty 6rector eneral (3S) s assstn& the ?oard n ths ca$acty. 6e$uty

6rectors eneral, 6rectors and Assstant 6rectors eneral $ro"de necessarysu$$ort for the ?oard at +eaduarters. /he 'ostal Ser"ces 6rectorate s the

+eaduarters or&an=aton located at 6a* ?haan, Ne 6elh, to o"ersee the o$eratons

n the $ro"son of $ostal ser"ces throu&hout the country.

3or $ro"dn& $ostal ser"ces, the hole country has #een d"ded nto 22 'ostal

Crcles. /hese Crcles mana&e the daytoday functonn& of the "arous +ead 'ost:ffces, Su# 'ost :ffces and ?ranch 'ost :ffces, throu&h ther Re&onal and

6"sonal le"el arran&ements.

17


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Po"t%& Se!i,e"

A small rural $ost offce at Chamund +lls, near Mysore, Barnata*a

S$eed 'ost

/he "ery h&h s$eed e$ress ser"ce for letters and documents. S$eed 'ost ln*s more

than 1200 tons n Inda, th 2


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A #rand ne ser"ce from Inda 'ost &reat for sendn& $arcels and lar&e cons&nmentsacross the naton and around the orld. -o&stcs 'ost mana&es the entre dstr#uton

sde of the lo&stcs nfrastructure from collecton to dstr#uton, from stora&e to carra&e,

from order $re$araton to order fulflment. -o&stcs 'ost s an deal ser"ce for sendn&

lar&e cons&nments ncludn& mult$arcels, %ustntme $arcels, #ul*#rea*cons&nments and &oods of any e&ht. hle 'arcel 'ost offers e&ht u$ to 45 *&,

-o&stcs 'ost has no e&ht lmt. -o&stcs 'ost offers not only $hyscal lo&stcs

ser"ces #ut also $ro"des com$rehens"e su$$ly chan mana&ement ser"ces, leadn& to

m$ro"ement n the ser"ce le"el effcency

e'ost

6ocuments and &reetn&s sent onlne #ut del"ered #y mal

?usness 'ost

/otal $remaln& solutons ncludn& collectonF$rntn&, nsertn&, and addressn&.

Meda 'ost

Reach mllons throu&h ad"ertsements on 'ost cards, -etters alls of $ost offce, letter

#oes, $ost cards and statonary

.

6rect 'ost

6str#utn& ad"ertsn& materals drectly to $ros$ect"e customers.

'ostal -fe Insurance

'ostal -fe Insurance as started n 1>>7 as a elfare measure for the em$loyees of 'ostsJ /ele&ra$hs 6e$artment under o"ernment of Inda ds$atch No. 2101>>2

to the Secretary of State. 6ue to $o$ularty of ts schemes, "arous de$artments of Central

and State o"ernments ere etended ts #enefts. No 'ostal -fe Insurance s o$en forem$loyees of all central and state &o"ernment de$artments, natonal=ed #an*s, $u#lc

sector underta*n&s, fnancal nsttutons, local munc$altes and la 'arshads an

ducatonal Insttuton aded #y the o"ernment.

In"t%nt Mone# O!de! Se!i,e +iMO-2

/he nstant domestc money s a"ala#le n ;1; $ost offces. +oe"er no Internatonal

Money :rder faclty s a"ala#le

Inte!n%tion%& Mone# T!%n"$e!2

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As a result of the colla#oraton of the 6e$artment of 'osts th the estern !non3nancal Ser"ces, state of the art nternatonal money transfer ser"ce s no a"ala#le

throu&h $ost offces n Inda. /hs ena#les nstantaneous remttance of money from 1>5

countres to Inda. /he rec$ents can n fact collect the money n mnutes after the sender

has made the remttance. /he ser"ce s tar&eted to $artcularly fulfl the needs of NRIde$endent famles n Inda, "stn& Internatonal toursts and fore&n students studyn&

n Inda.

Non2o"t%& "e!i,e"2

/he $ost offce has also tradtonally ser"ed as a fnancal nsttuton for mllons of$eo$le n rural Inda. Currently these are some of the act"tes #en& su$$orted@

'u#lc 'ro"dent 3und

Natonal Sa"n&s Certfcate

Sa"n&s ?an* Account

Monthly Income Scheme

Recurrn& 6e$ost Account

Natonal Sa"n&s Scheme 1


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Any nd"dual can o$en an account

Cheue faclty a"ala#le.

rou$ Account, Insttutonal Account, other Accounts l*e Securty 6e$ost

account J :ffcal Ca$acty account are not $ermss#le.

Po"t O$$i,e Mont( In,ome S,(eme +MIS-

Interest rate of >.5O $er annum $aya#le monthly .e.f. 01.07.2012

Maturty $erod s 5 years.

No ?onus on Maturty .e.f. 01.12.2011.

No ta deducton at source (/6S).

No ta re#ate s a$$lca#le.

Mnmum n"estment amount s Rs.1500F or n mult$le thereafter.

Mamum amount s Rs. 7.50 la*hs n a sn&le account and Rs.< la*hs n a %ont

account.

1>


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Auto credt faclty of monthly nterest to sa"n& account f accounts are at the

same $ost offce.

Account can #e o$ened #y an nd"dual, toFthree adults %ontly, and a mnor

throu&h a &uardan.

NonResdent Indan F +!3 cannot o$en an Account.

Mnors ha"e a se$arate lmt of n"estment of Rs. 4 la*hs and the same s not

clu##ed th the lmt of &uardan.

3aclty of $remature closure of account after 1 year #ut on or #efore 4 years T

2.00O dscount.

6educton of 1O f account s closed $rematurely at any tme after three years.

Suta#le scheme for retred em$loyeesF senor ct=ens and for those ho need

re&ular monthly ncome.

Po"t O$$i,e Time Deo"it S,(eme

1 year, 2 year, 4 year and 5 year tme de$osts can #e o$ened.

1


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Interest $aya#le annually #ut com$ounded uarterly@

Mnmum amount of de$ost s Rs 200F and n mult$les of Rs 200F thereafter.

No mamum lmt.

In"estment u$ to Rs 1,00,000F $er annum ualfes for Income /a Re#ate under

secton >0C of I/ Act.

Interest ncome s taa#le.

3aclty of rede$ost on maturty of an account.

In case of $remature closure of 1 year, 2 Pear, 4 Pear or 5 Pear account on or after

01.12.2011 #eteen 9 months to one year from the date of de$ost, sm$le nterest

at the rate a$$lca#le to from tme to tme to $ost offce sa"n&s account shall #e$aya#le.

20

'RI:6RA/ :3

IN/RS/

:ne Pear *@F

/o Pears *BF

/hree Pears *?F

3"e Pears *5F


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2 year, 4 year or 5 year accounts on or after 01.12.2011 f closed after one year,

nterest on such de$osts shall #e calculated at a dscount of 1O on the rate

s$ecfed for res$ect"e $erod as mentoned n the concerned ta#le &"en under

Rule ; of 'ost offce /me 6e$ost Rules.

Account can #e $led&ed as securty a&anst a loan to #an*sF o"ernment

nsttutons.

Any nd"dual (a sn&le adult or to adults %ontly) can o$en an account.

rou$ Accounts, Insttutonal Accounts and Msc. account not $ermss#le.

/rust, Re&mental 3und or elfare 3und not $ermss#le to n"est.

N%tion%& S%in9" Ce!ti$i,%te +NSC-

NSC 8III Issue (5 years) U Interest rate of >.9O $er annum .e.f. 01.07.2012

NSC IV Issue (10 years) Interest rate of >.


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NSC secton >0C of I/ Act.

Certfcates can #e *e$t as collateral securty to &et loan from #an*s.

/rust and +!3 cannot n"est.

A sn&le holder ty$e certfcate can #e $urchased #y an adult for hmself or on

#ehalf of a mnor or to a mnor.

/he nterest accrun& annually #ut deemed to #e ren"ested ll also ualfy for

deducton under NSC secton >0C of I/ Act.

Public Provident Fund (PPF)

Interest rate of >.>O $er annum .e.f. 01.07.2012.

Mnmum de$ost s 500F $er annum. Mamum de$ost s Rs. 1,00,000F $er

annum

/he scheme s for 15 years.

In"estment u$ to Rs 1,00,000F $er annum ualfes for Income /a Re#ate undersecton >0C of I/ Act.

Interest s com$letely tafree.

22


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6e$osts can #e made n lum$sum or n 12 nstallments.

:ne de$ost th a mnmum amount of Rs 500F s mandatory n each fnancal

year.

thdraal s $ermss#le from 9th fnancal year.

-oan faclty a"ala#le from 4rd fnancal year u$to 5th fnancal year. /he rate of

nterest char&ed on loan ta*en #y the su#scr#er of a ''3 account on or after

01.12.2011 shall #e 2O $.a. +oe"er, the rate of nterest of 1O $.a. shall contnue

to #e char&ed on the loans already ta*en or ta*en u$ to 40.11.2011.

3ree from court attachment.

NonResdent Indans (NRIs) not elle.

An nd"dual cannot n"est on #ehalf of +!3 (+ndu !nd"ded 3amly) or

Assocaton of $ersons.

Ideal n"estment o$ton for #oth salared as ell as self em$loyed classes.

Senio! CitienG" S%in9" S,(eme

Interest T


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Mnmum de$ost s Rs 1000 and mult$les thereof. Mamum lmt of 15 la*hs.

Maturty $erod s 5 years and can #e etended for a further $erod of 4 years.

A&e should #e 90 years or more, and 55 years or more #ut less than 90 years hohas retred under a 8oluntary Retrement Scheme or a S$ecal 8oluntaryRetrement Scheme on the date of o$enn& of the account thn three months

from the date of retrement.

No a&e lmt for the retred $ersonnel of 6efence ser"ces $ro"ded they fulfll

other s$ecfed condtons.

/he account may #e o$ened n nd"dual ca$acty or %ontly th s$ouse.

/6S s deducted at source on nterest f the nterest amount s more than Rs

10,000F $er annum.


secton >0C of I/ Act.

Interest can #e automatcally credted to sa"n&s account $ro"ded #oth the

accounts stand n the same $ost offce.

'remature closure s alloed after one year on deducton of 1.5O of the de$ost

and after 2 years on deducton of 1O.

No thdraal $ermtted #efore the e$ry of a $erod of 5 years from the date of

o$enn& of the account.

27


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Nonresdent Indans (NRIs) and +ndu !nd"ded 3amly (+!3) are not elle

to o$en an account.

Re,u!!in9 Deo"it A,,ount

'ost offce recurrn& de$ost s small sa"n&s scheme $romoted #y o"t of Inda hch

can #e o$ened n any of the $ost offce. :ne can de$ost as small as Rs 10 e"ery month.

:n maturty after 5 years, INR 10F account fetches INR ;2>.


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0u"ine"" Dee&oment A,tiitie"2

/he ?usness 6e"elo$ment 6rectorate as set u$ n 1


27/44

'in%n,i%& Se!i,e" P!oide 2

As e ha"e an etens"e netor*, $ost offces ser"e the naton #y $ro"dn& "arous

a&ency ser"ces l*e #an*n& ser"ces. /he #an*n& ser"ces offered at $ost offce counter

are@

Sa"n&s ?an* Account

Recurrn& 6e$ost Account

/me 6e$ost

'u#lc 'ro"dent 3und Account

Monthly Income Scheme

Natonal Sa"n&s Scheme Account,1


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to etend the reach of the ca$tal mar*et of the country and $ro"des the common maneasy access to mar*et #ased n"estment o$tons.

E&e,t!oni, 'und T!%n"$e!2

A faclty for lectronc 3und /ransfer as launched n :cto#er, 2001, le"era&n& the

8SA/ netor* of the 6e$artment to facltate endtoend fund transfers #y ?an*s(!/IFI6?IF+63C) on #ehalf of the cor$orate sector as ell as the Ca$tal Mar*et. ?an*s

use ths faclty to transfer funds to locatons here they do not ha"e a $resence.

arrant 'ayment

/he arrant 'ayment Scheme as launched n anuary, 2002. It has facltated

redem$ton of o"er ;4,000 d"dend arrants of !/I and Ct#an* orth more than Rs.1,000 Mllon throu&h the $ostal netor*, esta#lshn& the a#lty of the 6e$artment to

underta*e ths crtcal ser"ce, for the countrys Ca$tal Mar*et.

E&e,t!oni, C&e%!%n,e Se!i,e +ECS-2

/he 6e$artment of 'osts has ntroduced lectronc Clearance Ser"ce (CS), on a$lot #ass, n Mum#a Cty from


29/44

Po"t%& Li$e In"u!%n,e2

'ostal -fe Insurance ('-I), ntroduced n 1>>7, s the oldest lfe nsurance scheme for

the #eneft of o"ernment em$loyees. Intally meant only for the 'ostal em$loyees,

today t caters to em$loyees of the c"l and mltary $ersonnel of the central and state&o"ernments, local #odes, &o"ernment aded educatonal nsttutons, un"erstes,

natonal=ed #an*s, many autonomous and fnancal nsttutons, and $u#lc sector

underta*n&s of the central and state &o"ernments. In a ma%or nno"aton, Rural 'ostal

-fe Insurance (R'-I) scheme as also ntroduced n 1


30/44

Cu"tome! C%!e2

Inda 'ost lays mamum stress on customer care n rendern& ts ser"ces and also to sort

out the &re"ances that arse n the course of $ro"dn& these ser"ces. Customers canlod&e ther com$lants a#out our ser"ces at ther near#y $ost offce hch are author=edto collect them. /he com$lants are consoldated at a customer care centre hch re&sters

these cases on the e#ste to o#tan a re$ly onlne for a fnal re$ly at the earlest. /here

are 1119 com$uter=ed customer care centers to handle $u#lc &re"ances onlne. /he6e$artment also $ro"des the faclty of onlne re&straton and res$onse to com$lants at

ts e#ste.

NORMS 'OR ;ARIOUS POSTAL SER;ICES2

6e$artment of 'osts s $roud to ha"e the lar&est $ostal netor* n the orld.

:ur ser"ce area contnues to e$and to reach $eo$le e"en n hlly, dffcult andnaccess#le terrans. At the same tme there s a contnuous endea"or to m$ro"e our

ser"cesFo$eratons th nno"at"e deas and nducton of technolo&y. :ur commtment

toards rendern& #etter ser"ce emanates from our Msson. :ur Msson &udelnes are@

/otal dedcaton to understandn& and fulflln& customer needsG

/otal de"oton to $ro"dn& effcent and rela#le ser"ce hch the customersconsder to #e "alue for moneyG

/otal commtment to $ro"dn& challen&n& and reardn& career for e"ery em$loyeeG

/otal reco&nton of the res$ons#ltes as a $art of the socal, ndustral and

commercal lfe of the country

/otal enthusasm to #e forard loo*n& and nno"at"e n all areas.

/he 6e$artment has formulated and m$lemented n all ma%or offces ts ct=enLs charter,hch s an e$resson of our commtment toards m$ro"n& our ser"ces offered to

ma*e them more effcent and res$ons"e and at the same tme ma*n& our or*n& more

trans$arent to our "alued customers.

/he ct=enLs charter s an attem$t to #rn& the 6e$artment closer to ts customers.

Ou! CitienG" C(%!te! Commitment"2

e ll treat you th courtesy and consderaton.

:ur staff ll #e hel$ful.

e ll attend $rom$tly to your enures and com$lants.

40


31/44

e ll $ro"de all the necessary nformaton at customer care centers.

e ll s$eedly redress customer &re"ances.

e ll ma*e $ostn& facltes easly access#le as far as $oss#le.

Introducton to Core ?an*n& Soluton

Inda $osts mantans@

:"er 27 Crore accounts

th a de$ost of ru$ees 5.5 -a*h crore ru$ees

n 1.5 la*h $ost offces.

Inda $ost s losn& ts customers due to lac* of modern=aton n ts

customer e$erence and o$eratons.

At $resent, Inda $ost does not ha"e the ser"ces of A/Ms, Mo#le #an*n&

and demat certfcates faclty.

Need $o! Co!e 0%n


32/44

No MIS facltes

'oor record mantenance

Inadeuate audt functons

Non a&reement of #alances

No A/M or Internet ?an*n& facltes a"ala#le to match com$ettors.

No Real /me 'rocessn&

No 6e#t Card faclty.

No netor*n&.

0ene$it" o$ Co!e 0%n


33/44

AnyhereAnytmeAny#ranch #an*n&.

Issue of de#t cards there#y reducn& lnes n $ost offces.

Internet #an*n&.

A/M facltes.

Account to Account transfer of funds n real tme.

Com$at#le for CS and R/S.

In #ult features of #alancn&.

More securty features for data#ase.

P!e !e)ui!ement" to int!odu,e Co!e 0%n


34/44

Com%!i"on

6e$artme

nt

'ost offce Stat ?an*

'un%a# ?an*

/y$e A&ency of theo"ernmentof Inda

'u#lc(?S,NS@S?I) J (-S@S?I6)

'u#lc(?S,NS@'N?)

3ounded 1;97 Bol*ata, 1>09 (as

?an* of Calcutta)

-ahore, 1>


35/44

0%n< deo"it" " o"t o$$i,e "%in9"1

"eryone says nterest rates are rsn&. /hs s true e"en for de$ost rates. So does thatmean #an* de$osts could no #e a #etter o$ton to $ost offce sa"n&sW +ere s a #rds

eye "e of recurrn& and fed de$osts offered #y #an*s and $ostoffce.

'ost offce Recurrn& 6e$osts 8S ?an* Recurrn& 6e$osts

A $ost offce recurrn& de$ost account (R6A) s smlar to a recurrn& de$ost n a #an*,

here you can n"est a fed amount on a monthly #ass. /he $ostal R6A has a fed

tenure of f"e years.

/hese de$osts accumulate money at an annual fed rate of nterest of > $er cent. /henterest s com$ounded on a uarterly #ass. /he mnmum n"estment n a $ost offce

R6A s Rs 10 and there s no $rescr#ed u$$er lmt. 3or eam$le, f you n"est Rs 100

e"ery month n 90 nstallments, you ll earn a sum of Rs ;,2>< after 5 years.

?an*s, hoe"er, offer a fle#le tme $erod on ther recurrn& de$osts. Pou can o$en an

R6A for a mnmum $erod of 9 months, and thereafter n mult$les of 4 months u$ to amamum $erod of 10 years.

In #an*s, you can start a recurrn& de$ost th State ?an* of Inda (S?I) for a monthly

nstallment of Rs 100 hereas ICICI ?an* has *e$t ts mnmum de$ost lmt at Rs 500.

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An nd"dual can o$en an R6A account th a $ost offce nd"dually or one n a %ont

form th another n"estor, or a &uardan on #ehalf of the mnor ho has attaned the a&eof 10 years can o$en an R6A account n hsFher on name.

/he ad"anta&e th $ostoffce de$osts s that t offers a fed rate of return for the

duraton of the de$ost, hle #an*s constantly re"e ther recurrn& de$ost rates.

+oe"er, the dsad"anta&e th $ost offce sa"n&s s that that n the a&e of con"enence

#an*n&, you ll ha"e to "st the $ost offce e"ery month. In case of #an*s, the amount

s automatcally de#ted from your account. 'remature thdraal, hoe"er, cannot earn

you desred returns.

In $ost offce R6A, you can thdra u$ to half the #alance. :n $remature closure of the

account (after one year), nterest s $aya#le as $er the rate for the 'ost :ffce Sa"n&s

?an* Account, hch s 4.5 $er cent.

In the case of #an*s, $remature closure of an R6A ll attract a $enal nterest. /hsmeans the de$ostor ll &et nterest around 1 $er cent less than the $re"aln& rate. It ll

certanly #e h&her than the 4.5 $er cent $ad #y $ost offce.

'ost offce /me de$osts "s ?an*s 3ed 6e$osts

ust l*e #an*s fed de$osts (36s), $ost offce tme de$osts are meant for those

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n"estors ho ant to de$ost a lum$ sum for a fed $erod.

/me 6e$osts are of 1 year, 2 year, 4 year and 5 year tenures. /he mnmum n"estment

should #e Rs 200 and ts mult$les. /he tenure of #an* fed de$osts are fle#le, th$erods ran&n& from 15 days to 10 years #ut the mnmum amount s as h&h as Rs

10,000.

In case of $ostal tme de$osts, the account can #e closed after 9 months #ut #efore one

year of o$enn& the account. :n such closure, the amount n"ested s returned thout

nterest. If a tme de$ost of to or three years s thdran $rematurely, $ost offce ll

$ay nterest only for the com$leted year or years.

3or eam$le, a fed de$ost for to years s thdran after 20 months, nterest ll #e

$ad only for the one full year com$leted. /he de$ostor ll lose nterest for the

remann& > months.

If a #an* 36 s closed #efore com$letn& the or&nal term of the de$ost, #an*s ha"e thedscreton to char&e $enal nterest. If a #an* decdes to char&e $enal nterest, the

de$ostor ll #e $ad nterest at a loer rate than that as contracted.

SWOT ANALYSIS

A SWOT %n%"i"(alternat"ely SWOT m%t!i) s a structured$lannn&method used to

e"aluate the "t!en9t("= 3e%


38/44

dentfyn& the nternal and eternal factors that are fa"ora#le and unfa"ora#le to ache"ethat o#%ect"e. Some authors credt S:/ to Al#ert +um$hrey,ho led a con"enton at

the Stanford Research Insttute (no SRI Internatonal) n the 1


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More #ranches, more facltes

More em$loyees

More ser"ces

ood facltes to customers

Stron& Netor*

Cost ffect"e Securty FSafety th res$ect to de$osts

ffcent Man$oer

@* We%


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?an*n& sector

Customer dssatsfacton

Increasn& mar*et share of com$ettors

Cometito!"G St!%te9# To In,!e%"e T(e M%!


41/44

Su99e"tion

/here are a fe suggestionshch may hel$ to Indan 'ostal Ser"ce 6e$artment n ts

further &roth@

. /o ncrease the $roduct"ty of the em$loyees,Job Rotation Policyshould #e

ado$ted #ecause a smlar nature of or* ma*es an em$loyee rrtate and less$roduct"e.

. Soft S*ll /rann& s $ro"ded to the em$loyees #ut the m$lementaton

should #e done from theop !evel "anagement#ecause they are the leaders. If a

leader ll come late n the offce, the folloer ll also come late.

. m$loyees are the nternal customers of a com$any. /her satsfacton carres

a &reater "alue. A true J farfeedback systemshould #e ther here eachem$loyee can $ut ther ords thout any fear.

". m$loyees should #e mot"ated for $ro"dn&suggestionsand f anysu&&eston s really "alua#le,proper attention is re#uired . /here should not be

any adverse action against employeesat the tme of $ro"dn& su&&eston.

". A dress code should #e there to form unformty amon& em$loyees and the

colour of the unform should #e n a l&ht shade #ecause t ma*es the or*n&en"ronment cool. (All the colours ha"e ther $sycholo&cal effect.)

". No em$loyee should #e alloed to or* o"ertme. "en he should not or*

after the dutyhour. ?ecause, the effcency J effect"eness n the or* means

com$leton of a or* thn the tme lmt.

". An attract"e infrastructureattracts the customers. /herefore, attentonshould #e &"en toards ths sde.

". /me s $recous for e"ery one. th ths motto, the customer ser"ce

de$artment should or* so that there shall not #e a lon& ueue n any counter.

. Customerfrendly en"ronment should #e there n e"ery counter.

. In todayLs nflatonary mar*et, #an*n& sector s $ro"dn& h&her rate ofnterest on de$osts. /he $ostal ser"ce de$artment should also ado$t ths *nd of

strate&y to retan ther customers.

. /he $ostal ser"ce de$artment should ado$t an adeuate $romotonal $olcy.

3or eam$le, ad"ertsement n local nes$a$er for fnancal ser"ces $ro"ded #ythe Indan 'ostal 6e$artment.

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Concluson

It can #e concluded, that Indan 'ostal Ser"ce needs technolo&cal, socal, cultural J

economc chan&e. th a lttle #t of chan&e, t can create a mono$oly n the mar*et.

?ut Indan $ostal ser"ces s only one central &o"ernment ser"ces for Indan $eo$les asell as $ost card , $ostal stam$ B8' , NSC ,MIS and other some $roduct hch s #est

cam$er to other $r"ate com$any l*e 'ostal lfe nsurance.

-astly concluson s a

India is a beautiful so our Post Office

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Re$e!en,e" 0ib&io9!%(#

.nda$ost.&o".n

*$eda

.#usnessstandard.com

.ndao"t.&o".nF':S?ActsFSMA--SA;IN/SSC+MS.$df

.moneycontrol.com

artcles.economctmes.ndatmes.com

74
http://www.indiapost.gov.in/http://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.moneycontrol.com/http://www.indiapost.gov.in/http://www.indiapost.gov.in/POSBActs/SMALLSAVINGSSCHEMES.pdfhttp://www.moneycontrol.com/


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postal deposit swot analysis

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