India Post strikes it rich with cash-on-delivery payments
News: India Post is expecting cash transactions under cash-on-delivery model of payment to be about Rs 1,500 crore for FY 2015-16
Reason: It has taken major initiatives to strengthen its position for the e-commerce business requirements
Fact: The Department of Posts, with its network of nearly 1.55 lakh post offices, is the largest postal network in the world
10/04/2016
- India Post was among the 11 entities to have received licences for setting up the payments bank from the Reserve Bank of India last year.
- Government is trying to revitalise Postal department with e-commerce delivery and financial transactions.