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23Apr By reutersNo Comments

INDIA

TCS signs a deal with India Post to transform country’s mail delivery system

India's largest IT services company, Tata Consultancy Services (TCS), has partnered with the Department of Posts in a bid to transform it into a multi-service digital hub, modernise the delivery of mail and packages, enhance customer experience, and launch innovative services that will drive new revenues. At the heart of this transformation is the Core System Integration (CSI) program designed and implemented by TCS. This involved deploying an integrated ERP (enterprise resource planning) solution that caters to mail operations, finance and accounting, and HR functions, and connects its vast network of more than 150,000 post offices, making this the largest distributed ePostal network in the world. The integrated solution is built to cater to the Department’s immense scale, and fut...

Paytm Rebrands Its ‘Paytm Postcard’ Service To ‘Lifafa’

29Aug By AnkitaNo Comments

News

Paytm Rebrands Its ‘Paytm Postcard’ Service To ‘Lifafa’

One97 Communications', Digital mobile wallet Paytm has rebranded one of it's services earlier called Paytm Postcards, a digital option to gift money to someone on festive occasions, to 'Lifafa', after having received a notice from India Post asking them to stop using the term ‘postcard’. (more…)

Paytm Gets Notice From Indian Post Over The Use Of Term “Postcard”

24Aug By RishabhNo Comments

News

Paytm Gets Notice From Indian Post Over The Use Of Term “Postcard”

Indian Post has sent a notice to digital payments company Paytm, asking them to stop using the term 'postcard' for one of its newly launched products Paytm Postcards. The digital wallet firm had recently introduced Paytm Postcards, a digital option to gift money to someone on festive occasions, launced during Rakhsa Bandhan this year. As per the report by TOI, the notice sent by the Department of Posts, said that only India Post has the sole right to use the word 'postcard' under the IPO Act rules and regulations. At the time of the rollout, a company statement said, “The country’s gifting industry is pegged at $40-42 billion, with several players reporting 20-40% annual growth. Paytm wants to establish itself in personal gifting by offering Paytm Postcards.” RELATED ...

India Post Gets Payments Bank Licence to Start Services

28Jan By Press Trust of IndiaNo Comments

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India Post Gets Payments Bank Licence to Start Services

India Post has received payments bank licence from the Reserve Bank of India to start rollout of banking operations commercially under the permit. "India Post has received payments bank licence. The service will be launched as per schedule," a Department of Posts official said. India Post Payments Bank is the third entity to receive payments bank permit after Bharti Airtel and Paytm. Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses. The new model of banking allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, Internet banking and oth...

India Post Seeks Applications For Payments Bank CEO Post

23Sep By Press Trust of IndiaNo Comments

News

India Post Seeks Applications For Payments Bank CEO Post

Government today set into motion the process to select CEO for India Post Payments Bank (IPPB). IPPB has invited applications for the post of chief executive officer/managing director from eligible candidates, a public notice said. Last year, India Post has received in-principle approval from RBI and subsequently nod from the Cabinet for setting up IPPB. As per the notice, the candidate should be between 40-55 years, and a minimum 15 years of experience in financial services is mandatory. India Posts payments bank with 650 branches is expected to start functioning from September 2017. There are 1.54 lakh post offices, of which 1.39 lakh are rural ones. The total asset of postal payments bank is Rs 800 crore, which will have Rs 400 crore equity and Rs 400 crore grant. All ...

Amul MD Appointed Director of India Postal Payment Banks

22Aug By Press Trust of IndiaNo Comments

News

Amul MD Appointed Director of India Postal Payment Banks

Amul Managing Director R S Sodhi has been appointed as independent director on the board of India Post Payment Banks (IPPB) -- the payments bank arm of postal department. "GCMMF Managing Director R S Sodhi has been appointed independent director on the board of IPPB," an official source said. Gujarat Cooperative Milk Marketing Federation (GCMMF) sells the Amul brand of milk products. Sodhi is one of the five independent members to be appointed on the board IPPB, which is set to be operational in March 2017. The board will have four in-house representatives. IPPB came into existence after it received certificate of incorporation from the Registrar of Companies on August 17. Payments bank allows mobile firms, supermarket chains, and others to cater to banking requirements o...