The Indian Postal Service (India Post) has a famed history of 150 years.
Operating under the Ministry of Communications and Information Technology, it has touched the lives of millions of Indians as a carrier of mails, an agent for collection of money under various types of small savings deposit schemes, provider of life insurance cover under Postal and Rural Life Insurance (PLI and RPLI) and delivering various other services like remittances, sale of forms, etc.
The extensive network of more than 1.5 lakh post offices that link India’s geographical extremities (as against the approximately 22000 branched of SBI, the largest PSB ) earns India Post the distinction of being a service provider with an enviable reach to the grassroot level as a last mile connect. Out of the said network, about 90% of the post offices serve the rural and semi-urban areas of India. This huge network is manned by about 1.9 lakh departmental employees and 2.5 lakh Gramin Dak Sewaks who are largely the feet-on-the street.
Though Sher Shah Suri, the founder of Sur dynasty in the mid-sixteenth century is accredited with the initiation of the postal system in Indian subcontinent, it was institutionalised under British rule. Since then, the postal service has gradually grown to cover the length and breadth of the country, having divided the entire country into 23 postal circles and 49 zones. In a way, this logistical behemoth is capable of delivering services to the doorstep of the customer located at the remotest corners of the county.
This story is from the September 16-30, 2018 edition of BUSINESS ECONOMICS.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the September 16-30, 2018 edition of BUSINESS ECONOMICS.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Morarji Desai: Walking the Yogic Path of Truth and Service
What is Yoga? In very short, from the basic viewpoint of Patanjali (the proponent of Yoga, a major branch of Indian philosophy and the author of the Yogashastra Yogasutra), Yoga is the process of merging oneself into the One Indivisible Whole through concentration of mind.
The automobile industry has rebounded to the levels observed in 2018-19, and the future of electric vehicles (EVS) appears promising
RC Bhargava, Chairman of Maruti Suzuki Ltd, recently shared insights on the automobile sector, noting that historically, its performance aligned with the country's GDP.
Dueling German Luxury: BMW and Mercedes-Benz Vie for Dominance in Indian Market
BMW and Mercedes-Benz, revered names in the realm of car enthusiasts. While the debate over which stands as the epitome of driving excellence persists, recent sales figures unveil an intriguing narrative, particularly in the dynamic Indian market.
INDIAN AUTO INDUSTRY GEARS UP FOR GREEN TRANSITION
As India enters into 2024, the automotive sector stands ready to script a remarkable growth narrative. Backed by a buoyant demand in the passenger vehicle segment despite continuing rises in commodity prices, automobile makers are optimistic to embrace new technologies, especially in the electric mobility space which is expected to witness a number of new launches in both four and two-wheeler segments in the coming year.
Is Ayodhya emerging as a global destination brand?
Traditionally, sacred spaces and modern urban landscapes have been perceived as incompatible, akin to oil and water.
Canara Banks reports 26.86% YoY growth in net profit, global business up by 9.87% YoY
Canara Bank's Net gained by 26.86% YoY in Q3 Cantareata Profit FY24.
A Tale of Two Economic Crises
The global financial crisis that unfolded between 2007 and 2009 did not only impact the financial sector but also extended its reach to banks worldwide.
"Prospects and Challenges: A Comprehensive Review of the Indian Economy"
The Ministry of Finance of the Government of India recently released a document titled 'The Indian Economy A Review' on January 29, representing a distinct departure from the traditional Economic Survey presented before the Annual Budget proposal.
IMF's Advice and RBI's Rebuttal
International Monetary Fund (IMF), under its Article IV of the Articles of Agreement, signed in 1944 by the original 29 member countries as well more by later, (now grown to 190) sends its staff, to its member countries for a threeweek visit annually for major economies, which contribute a sizeable proportion of world's GDP, and once in every two years for small economies.
Advanced economies losing steam
globally, advanced economies are facing a significant taking a toll on economic activities worldwide, as noted by the Organization for Economic Cooperation and Development (OECD).
