BUSINESS DEVELOPMENT PRODUCTS INFORMATION FOR IPO, LGO EXAMINATIONS
BD Products may be discussed into three heads, namely, Departmental Products, Tie-up Services and Money Transfer Services.
A. Departmental Products:
· Speed Post Service was introduced in Aug, 1986.
· The Service Tax and Education Cess for article weighing below 50 Gms included in the postage itself (ONE INDIA ONE RATE). For article weighing above 50 Gms, the ST and EC will be charged separately.
· The rate of Service Tax is 10% and Education Cess is 3% on ST.
· ST has to be charged on inclusive of additional services viz., Insurance, VP, etc
· There are 315 National Speed Post Centres and 986 State SPC.
· There is a provision to deliver the SP (like Passport, driving license etc) to the addressee only. For this the should customer should get permission from DOP and print on the envelope as “To be delivered to the addressee only”.
· Unclaimed SP returned to the sender after detention of 7 days.
· Refused SP returned to the sender on the day itself
· Speed Post offers money-back guarantee, under which Speed Post fee (Upto Rs.1,000/-) will be refunded if the consignment is not delivered within the published delivery norms.
· BNPL facility (with a condition to give speed post business atleast Rs.10,000 pm w.e.f. 12.05.11) is available.
· BNPL Customers will be given Free Pick Up service.
· Under the BNPL Scheme, the customer prepares three copies of SP booking list (Note: Articles are booked by customer himself in the BNPL Journal). The customer retaining one copy and the other two copies come to the SP Centre.
· Bulk customers is defined as anyone who provides Rs.10,000 worth of Speed Post business in a calendar month at a SP booking Office.
· Advance payment facility is also available. However, for this no extra discount will be given. (Example: In Madurai BPC, District Collector Office of Madurai is paying Speed Charges in advance).
· BNPL facility to a customer – approved by Regional PMG only.
· BNPL facility to a private customer-Bank Guarantee is must – Not less than 4 months of the business committed by the BNPL customers.
· The bank Guarantee should issued by Nationalized/Scheduled Bank (Scheduled under RBI Act, 1934).
· The Bank Guarantee should be valid for a period of at least 18 months from the date of the agreement. However, the amount of bank Guarantee should be reviewed once in a quarter by a designated authority.
· Penalty for belated payment – 1% pm (Calculated from the date of issue of bill)
· If payment not received even after three month from the date of issue of bill, action may be taken to revoke the Bank Guarantee for recovery of the total outstanding.
· BNPL & Bulk customers can get discount, if the volume of business exceeds 0.5 lakh in a month @ 5%. The rate of discount increases according to volume of business and a customer can get maximum of 20% discount if the volume of business in a month exceeds 25 lacs.
· The amount of discount will be calculated on postage excluding the ST and EC. Besides the BNPL Customers will be given the above rate of Discount only if he gives soft copy of the articles. Otherwise, the amount of discount would be reduced by half.
· Discount sanctioning authority -
Before 01.01.11 Regional PMG
w.e.f. 01.01.11 deducted in the bill itself by the billing office.
· SMS facility is available – To get SMS on delivery status, sent SMS to 55352.
· Delivery status can also be tracked thro India post.gov.in website.
· While tracking, by providing eMail iD the delivery status can be received thro eMail also.
· Insurance facility upto one lakh.
· Charge for Proof of Delivery card- Rs.10/-
· If Speed article redirected/returned to any distanced place the difference between actual postage minus actually paid should be collected.(BD Dte lr No.55-9/2004-BDD dt 16.02.05)
Example: A customer who is residing at Tuticorin District booked a Speed Article weighing 50 gms at PO located in Madurai Town Delivery addressed to within the Madurai Town Delivery area and paid local charge of Rs.12/- If this article returned to the sender (Tuticorin address) or redirected to the addressee other than Madurai Town Delivery office, Rs.13 (Rs.25-Rs.12) has to be collected. (Note: Only single deficiency)
· International SP service is available for Documents to 98 countries and Merchandise to 74 countries. Postage determined for every 250 Gms or part thereof and the rate differ from country to country.
· All International articles should be presented in open condition at the time of booking.
· There are Five Office of Exchange to deal the foreign SP articles. They are Mumbai, Kolkatta, Chennai, New Delhi and Kochi.
· Introduced in 1996.
· Credit facility not available. Charge will be collected for Pickup service –Rs.0.20 for Unregd and Rs. 0.30 for Regd.
· Premailing activities can be done either at the premises of PO or Customer’s. For this, service charge has to be collected.
· To do premailing activities, BPC/MBC is established and outsiders are engaged for this work. They will be given wages only through certain percentage of service charge collected from the customers.
Print to Post:
· Under this service, Printing of bills, invoices, direct mailers, etc that involve variable printing process in a large scale in either single or multi-colour duplex printing systems.
· It is just like a premailing activity.
Pack Post Service:
· Under this service, parcels both inland and international, are packed at PO by using Strapping & Shredder Machine
· Charges for this service depending upon size of the parcel.
III.Express Parcel Post:
· Introduced in 1999.
· Pick-up (Condition: Atleast three parcels per day) from customer’s premises and delivery to consignee for parcels upto 35 kg are provided free of cost.
· In case of loss or damage of the parcel, compensation is paid upto a maximum of Rs.500.
· Customers can avail VPP service along with Express Parcel Post on payment of VPP charges. Cash will be collected on delivery and will be paid back to the consignor.
· Valuable consignments can be insured on payment of insurance charges.
· Customers can also get POD along with the signature of the consignee, on payment of RS.10 like Speed Post.
· BNPL facility is also available like Speed Post.
· EPP (Business Post) postage charge is less than that of EPP (Retail Post). i.e., subsidized rate to corporate customers.
· EPP (Business Post) facility given only to BNPL Customers who are providing EPP Business atleast Rs.1,000 pm.
· EPP Deposit Account – Introduced on 21.09.10
· Any EPP Customers can apply for EPP –Deposit Account in the “Business Parcel Agreement” by paying a minimum of Rs.1000 as advance. The advance amount will be deducted whenever he post EPP and he should recharge the amount when the balance become zero. He will be given all value additional service such as free pick-up, etc like EPP (Business Post) customers.
· Note: Postage charge is equal to EPP (Business Post) i.e., subsidized rate.
IV.Bill Mail Service:
· Introduced on 15.09.2003
· Communications in the nature of financial statements, bills, monthly account bills or any such other items of similar nature may be posted by a service provider to their customers atleast once in 90 days under this se
· To get this facility approval from Divisional Head is must like RNP.
· Personal communication and exclusive commercial publicity material should not be included. However, Inclusions (those permitted under Direct Post) are permitted at Rs. 0.25 per insertion under DPAD service.
· Bill Mail shall be fully sorted pin code wise and bundled delivery post office wise.
· There is no credit facility.
· The minimum quantity of articles to be posted at a time is 5000.
· Rate of postage will be Rs.3.00 for a weight not exceeding 50 grams and Rs.2.00 for additional 50 grams or a fraction thereof.
· E-Intimation of Delivery (e-IOD):
· This service is available for Bill Mail Service article. Charge –Rs.0.50 per article.
· To get this facility a minimum of 5,000 articles has to be posted.
· For availing e-IOD service, the customer is required to print a bar code on the address side of the articles or envelopes containing articles. In case, a window envelope is used and the bar code is printed on the article and not the envelope, the bar code should be fully and clearly visible through the address window in a scannable manner.
· The delivery information would start coming to the customer by email after one day of posting, and will continue coming for next few days. However, no intimation would be issued in respect of articles booked more than 10 days before. In case the customers do not receive intimation within 10 days, but would still like the Department to check, he must take up in writing with the office where you posted the articles. However, no such request would be entertained after 15 days of posting the articles.
National Bill Mail Service:
· National Bill Mail Service (NBMS) is meant for destinations other than local ones which are served by the Bill Mail Service.
· Conditions – All applicable to BMS.
· Rate of postage will be Rs.5.00 for a weight not exceeding 50 grams and Rs.2.00 for additional 50 grams or a fraction thereof.
· e-IOD charge – Free (Note: e-IOD facility is an integral part of the NBMS and the cost of e-IOD has been built into the cost of NBMS). However, to get e-IOD facility a minimum of 10,000 articles has to be posted.
· The securely closed package(s) for delivery in another station will be dispatched to the destination as EPP/Speed Parcel/Registered Parcel etc depending on the choice of the customer. For this service, EPP/SP/RP charge will be collected in addition.
Example: Madurai BPC dispatching the BMS Bags to other stations thro SP.
· Introduced on 02.06.2005.
· Conditions: Un-addressed postal articles like letters, cards, brochures, questionnaires, pamphlets, samples, promotional items like CDs/floppies and Cassettes etc., coupons, posters, mailers or any other form of printed communication that is not prohibited by the Indian Post Office Act 1898 or Indian Post Office Rules 1933.
· A minimum quantity of 1000 pieces can be accepted under the ‘Direct Post’.
· Where Direct Post articles are tendered in quantities of over 50,000, a discount to the sender, or commission to the concerned advertising agency, of 5% would be admissible and the same should be sanctioned by Regional PMG.
· Rate of postage will be Rs.1.50 for a weight not exceeding 20 Gms and Rs.1.00 for additional 20 grams or a fraction thereof for article intended to delivery within local town delivery.
· Rate of postage will be Rs.2.00 for a weight not exceeding 20 Gms and Rs.1.00 for additional 20 grams or a fraction thereof for article intended to delivery to intercity.
· Articles to be accepted have to be such that they do not exceed the length and width of an A3 size paper.
· These will be accepted in bulk in designated offices and will not be posted in a letter box.
· The Direct post articles cannot be sent to abroad
· The sender of Direct Post can specify the numbers, areas in which the Direct Post articles to be distributed.
· The sender may also specify the category of people like Doctors, Lawyers, Students of Schools & Colleges, etc to whom the article to be distributed.
Direct Post AD (DPAD):
· Under this service, pamphlets may be enclosed or stickers may be affixed in any addressed article including Bill Mail Service article
· Charge Rs.0.25 per article.
· However, in Bill Mail Service the customer can enclose/affixe his own add at free of cost.
1. Pass book Advertisement:
· Multi-colour only
· Minimum 20,000 Passbook and Rs.5/- per pass book+ST
· Size:9x2.25 cms
· Distributed in the POs located in the area mentioned by the customer.
· Add should given in Coral draw format.
2. Single Post cards Advertisement:
* Minimum - 20 lakhs numbers for Rs.2 lakhs + ST
* Size: 3x2.25 cms (Stamp size)
* Language- in any Indian language or in English.
* Distributed in the POs located in the area mentioned by the customer and sold at the rate of Rs.0.50 each (i.e., Rate is same to Normal Post Card).
3. Meghdoot Post card Advertisement:
· India Post introduced Meghdoot Post Card on September 2, 2002
· Meghdoot literally means the cloud-messenger and is title of a play in Sanskrit penned by Kalidasa a few millenniums earlier. Meghdoot is also the name of an award that India Post presents for meritorious services to its employees annually.
· Multi colour (Four Colours).
· The rate of the advertisement is Rs.2 per card + ST and the minimum order for print is 1,00,000 cards. Meghdoot ADD is printed by Security Printing Press at Hyderabad.
· No add shall be permitted, the objects of which are wholly or mainly of a religious or political nature. The genuineness of the add given by educational institution like schools, colleges, tutorials etc. should be ensured. (BD Dte. Lr No.39-4/2002-BD at 28.03.03)
· Meghdoot card is sold at POs at 25 paise that is half the cost of the regular post card.
· Discount:5 lacs to 10 lacs -5% & above 10 lacs -10%
4. Wall painting/Panel/Hoarding:
* Allowed only in POs other than Project Arrow POs
* Charge: As per size of the Add and the city where the PO is located.
5. LCD TV Add:
* Charge: a. POs located in important cities like Madurai-Rs.3000+ST per month to show 12 minutes a day. (i.e., one minute add – 12 times)
b. POs located in urban areas- Rs.2000+ST per month to show 12 minutes a day
* Discount: 10% for 3 months booking & 20 % for more than 6 months booking
6. Setting up of Canopy/Umbrella at POs:
a. POs located in important cities like Chennai, Madurai-Rs.2000+ST per day or Rs.4500+ST per month.
b. POs located in urban areas- Rs.2000+ST per day and Rs.1500+ST per additional day or Rs.3500+ST per month.
c. POs located in rural areas – Rs.1500+ST per day and Rs.1000+ST per additional day or Rs.3000+ST per month.
7. Add in Lr Box & MMS Vans:
* Restricted to Postal Products only.
VII. Logistics Post:
* Introduced in 2004-05
* The tariff is based on weight, volume and distance.
* The weight will be taken on the basis of volumetric/actual whichever is higher. One Cubic feet will be treated as 10 kgs.
Calculation of Volumetric Weight:
(1) For cuboids: (e.g. rectangular, square, etc.)
Volume = Length x Breadth x Height
(2) For Circular rolls:
Volume = 0.785 X (Diameter of Circular Base) 2 x Length
Volumetric Weight (in kg) = (Volume in cm3) ÷ 6000
* Minimum chargeable weight is 50 kg and multiple of 10 kg
* For each consignment, a docket fee of Rs.100 is payable in addition to other charges based on weight, volume and distance.
* ‘pick and pack’, insurance, warehousing facilities are available
* Insurance Value: Rs.0.12% of declared value of non-fragile goods and Rs.0.20% for fragile goods. Minimum premium Rs.50.00 per consignment. The limit of liability per transit would be Rs.1 Crore – BD Dte Lr. No.13-5/2000-BDD dt 13.08.04
* Under this service, customers can send their consignments either in full truck load (FTL) or Less than a Truck Load (LTL), one parcel or multi-parcels, based on their requirements.
Logistics Post Air:
· This service available between Kolkata, Gowhati, Agartala and Imphal
· If the consignment is not collected by the consignee within 12 days from the date of arrival of the goods, demurrage
· charge (like VPP) of Rs.1.50 per kg shall be levied from the 13th day onwards, subject to a minimum of Rs.50/-
· For return services reverse logistics are available.
· To get this service the customers has to sign a business agreement with DOP.
· At present Registrar General of India (RGI) – Census Materials are sent their materials thro this service.
· Launched on 30.01.2004
· It is a combination of electronic transmission and physical delivery.
· Costs Rs. 10 per page of A4 size.
· Prepaid cards are available in the denominations of Rs.250, Rs.500, Rs.2,000, Rs.5,000 and Rs.10,000
· Simultaneously ePost messages can be sent to 9,999 addressees.
ePost Corporate Service:
· ePost can also be availed by the corporate customers, by having a business agreement with India Post.
· Customers can send ePost messages from their premises to PO located near to the addressee and from that PO the ePost message will be delivered to the addressee thro Postman.
· ePost id-ePost (PIN)@indianpostoffice.net
· ePost can be sent to military personnel also.
Rs. 6 per page of A4 (8.27” x 11.69) size paper
For 50 or more messages sent at a time- Rs. 5 per page
· On the last working day of the month, system will automatically generate a bill and automatically send it to the eMail address of the corporate customer.
· Penalty for belated payment: Rs.100 or 12% p.a. whichever is more.
IX. Free Post:
· The persons / organizations desirous of availing of Free Post facility should apply to the Manager of the concerned MBC with a non-refundable application fee of Rs.1000, credited in UCR.
· The customers are allotted six digit re-designed pin code, against which they can receive responses.
· The registration for Free Post shall remain in force up to 31st March of the financial year during which it is issued but may be renewed during the month of March every year for a period of one year beginning on the 1st of April, of that year on payment of Rs.200 as renewal fee in respect of each renewal.
· The persons/organizations desirous of availing of Free Post facility shall deposit Earnest Money of Rs.10,000 only in the form of a security deposit account/ bank guarantee at the time of registration and the money will be refunded when the agreement terminated.
· In addition to the earnest money, the applicant would deposit Rs.10000 or more as advance deposit with the MBC through which he is to receive his articles. The postage and other charges in respect of FP articles received by the applicant would be deducted from this amount on a regular basis. The applicant will have to reimburse the deposit amount as soon as the balance reaches Rs.2000.
· In addition to the postage, a handling charge of Rs.1/- per article would be chargeable.
· It is just like a Business Reply Card (BRC) with some different feature.
· Note: In BRC the Corporate customer is forced to pay the postage of all the self addressed cards enclosed by him to his customers irrespective of reply received from the customers; but in FP the Corporate customers is paying only to the articles actually received from his customers.
X.Flat Rate Parcel Service:
· DFRP service is available in three different categories and selling price of these boxes includes cost of boxes and postage for the parcel service.
1. Small (1 kg)- 250x50x300 for Rs.125
2. Medium (2.5 kg)-250x100x300 for Rs.200
3. Large (5 kg)-300x25x200 for Rs.400
· DFRP will be transmitted by Air under the brand ‘Parcel Post’ providing time bound delivery of parcels. In terms of performance, it is positioned between Express Parcel and Speed Post.
· Delivery within India
· More than 5 kgs will not be allowed.
· DFRP will be detained for 7 working days including day of receipt at Delivery Office if could not be delivered for valid reasons.
· Undelivered DFRP returned to sender by surface
· It cannot be redirected.
· Complaints, if any, preferred by the sender within 90 days from the date of booking.
· DFRP records should be maintained for one year.
· Insurance facility available
· IFRP service is also available in three different categories and selling price of these boxes includes cost of boxes and postage for the parcel service like DFRP.
1. Small (1 kg)- 250x50x300 for Rs.1000
2. Medium (2.5 kg)-250x100x300 for Rs.1500
3. Large (5 kg)-300x25x200 for Rs.2500
· IFRP are for delivery to any destination anywhere in the world. Zone wise tariff structure will not be applicable.
· Customer Declaration (CN.23) must be filled up.
XI. Proof of Address Card:
· W.e.f. 15.10.08
· Cost of application Rs.10/-
· Processing fee Rs.240/-
· Printed by UTI Tech Services Ltd on Ultra Silk Finish touch Process (Preparing fee of each card to UTI Rs.19/-)
· Issued vide Clause 63 of PO Guide Part I
· Validity – Three years
· Renewal fee Rs.150/-
· Duplicate card fee Rs.90/-
· Discount – 4% to Corporate on Rs.250/- each
· TATKAL System: Launched on 03.05.10-------D+5
· Processing fee/Renewal fee/Duplicate card fee Rs.600/-
XI. Greetings Post:
· Normally customers purchase greetings cards from shops and mail them thro PO. Greetings Post is a “Buy and Sell” / “Two-in-one product”
· Price of the card:
a. Small size- 22x16cms –Rs.9/-
b. Medium size – 24x18 cms- Rs.12/-
· Discount – 20% for bulk purchase of 1000 Cards.
· Postage is in addition to the price of the card.
· Greetings Post should be treated as an Accountable article.
· IP Logo can be seen under Ultra Violet Lamp
XII. Speed Post Passport Service:
· On behalf of Ministry of external affairs, under this service,
a. Passport applications along with envelop are sold at POs
b. Fill up applications along with fee accepted at POs
c. After checking, the applications are sent to Passport Office, through Speed Post.
· Application Fee: Rs.20/-
· Speed Post passport service charge:Rs.100/-
· Passport fee:Rs.1000 and Jumbo Passport fee Rs.1500
· Minor passport fee:Rs.600
XIII. e-Bill Post/e-Payment:
· e-Payment is a ‘Many to one’ Service for acceptance of payments across the counter.
· Any organization can become e-Payment biller by entering an agreement with DOP. Ex. TNEB, TNPSC, iCode, etc
· The Service Provider can view the details of bill collected for the day
· Service Charge under this service will be credited in Retail Post
XIV. Retail Post:
· The commission/service charge on Tie-up scheme will be credited in RP.
B. Tie-up services:
I. New Pension Scheme:
· Launched on 01.05.09 (Note: May Day-Labours Day)
· Note: The NPS was introduced by Government of India for its new recruits (except the Armed Forces) w.e.f. January 1, 2004.
· Regulated PFRDA (Pension Fund Regulatory and Development Authority of India)
· There are 285 Point of Presence to PFRDA and DOP is one of them.
· All HOs (907) are identified and called as POP-SP
· Types of Account:
a. All except Employees who joined Government service on or after 01.01.04 are eligible.
b. Minimum subscription at a time: Rs.500
c. Minimum deposit:Rs.6,000 p.a. Maximum deposit: No limit
d. Minimum number of subscriptions in a financial year-One
e. Tax free
f. Non-with drawable.
g. Closure: Before attaining 60 years of age – 20% will be paid and remaining 80% will be annuitized. After attaining 60 years of age- 60% will be paid and remaining 40% will be annuitized.
2. Tier II:
a. With drawable at any time. Just like a savings account.
b. Tier I account is mandatory to open Tier II.
c. Minimum subscription at a time:Rs.250
d. Minimum deposit: Rs.2,000 pa. Maximum deposit: No limit
Both the account:
· Can be opened by any citizen of India (NRI who compiles KYC norms can open).
· Minimum and maximum age: 18 years to 55 years (Note-persons who do not possess any proof of date of birth, the date of birth would be calculated back by subtracting the stated age from the date on which the document of proof of age was given)
· Swavalamban Scheme: Under this scheme, Govt will contribute Rs.1000 pa to each NPS account opened by the persons working in unorganized sector. The benefit will be available only to those who are joining the NPS with a minimum contribution of Rs.1000 and maximum contribution of Rs.12000 pa.
· NPS account holder will be given a PRAN (Permanent Retirement Account Number) Card.
· National Securities Depository Limited (NSDL) selected as NPS Central Recordkeeping Agency (CRA)
II.Sale of Gold Coins:
· Tie up with RMIL (Reliance Money Infrastructure Limited)
· Launched on 15.10.08
· Across India 732 POs are identified for this service.
· Denominations available: 0.5g, 1g, 2gms, 5gms, 8gms, 20gms and 50gms
· The gold coins are manufactured by Valcambi, Switzerland
· Commission -4% on selling price excluding tax is the commission to DOP.
III.Forex (Foreign Exchange) Service:
· Tie up with HDFC Bank
· India Post has a fully fledged money changing (FFMC) licence (AD Cat-II), which authorizes post offices to undertake money changing business.
· Services available:
a. Foreign Currency Notes –Buying and Selling
b. Travelers Cheque –Buying and Selling
c. Store Value Card – Selling
d. Arrangement of DD- Selling
e. Arrangement of Telegraphic/Wire Transfer –Selling
IV.POSB Cheque clearance:
· For this service we are having tie-up with many financial companies like TVS CSL, HDFC Bank, Indusind Bank, Bajaj Auto Finance etc
· Commission for this service is differ from company to company.
· Normally, cheque cleared within 7 days will get more commission than that of cheque cleared after 7 days.
· DOP will get commission even the cheque presented for clearance is bounced
· A Consumer Price Index (both Rural and Urban) is designed to measure the changes over time in the general level of retails prices of goods and services.
· India Post undertakes the Market Survey of CPI-R (Rural) prices in identified villages on a remuneration basis.
· No of products and services taken into account -268
· BPM of the village will collect the price of the products and services
VI.Genie Easy Ticket:
· Tie up with ARM i-Solutions Pvt Ltd.
· Launched on 26.05.08
· Under this service, Air, Train and Bus tickets are booked.
· Commission: Revenue shared between DOP and ARM i-Solutions-60% to DOP & 40& to the Company.
VII.Passenger Reservation Scheme:
· Launched on 31.07.07
· MoU with- Railway Ministry
a. Second/Sleeper Class Ticket – Rs.15 per ticket
b. Third A/C –Rs.20/-
c. First Ac/Second Ac/First Class –Rs.30/-
d. Cancellation of a ticket-Rs.10/-
· Launched in Oct, 10 in Maharashtra Circle and on 11.04.11 in Southern Region of TN Circle
· The scratch cards will have a unique number which can be used in enrolling in the website www.icodecity.com designed as an e-Employment Exchange and function as a platform to bridge the potential employer and job seeking personnel.
· Cost Rs.300; DOP commission Rs.100
IX. PO-SHG-NABARD Linkage:
· Launched on 15.12.06
· Micro credit to women Self Help Groups
· Commission: one-third of interest
· Loan and repayment thro POSB Account
X.Revision of Electoral Rolls:
· On behalf of Chief Election Officer, w.e.f. 01.01.2005
· Receipt of filled-in application, verification thro postman and display of electoral rolls.
a. Rs.35 per day per PO
b. Rs.400 per day (Rs.500 for Sunday/Holiday) for display of electoral roll at POs
c. Rs.4 per address verification.
XII.SBI-DOP Pilot Project:
· Launched on 02.07.07
· Sourcing SBI’s assets, liability and investment products thro the PO
· Smart Card accounts are being operated through a Point of Sale Device.
· Commission: Rs.50/- per smart Card sold
C. Money Transfer Service:
· It is a traditional product-physical transmission and physical payment.
· The amount for which a single money order may be issued must not exceed Rs 5000/-
· Commission: Rs.1 for every Rs.20/- or part thereof.
· Charge (Before payment) to:
a. Change address of payee –Nil
b. Change payee’s name – Second commission equal to the first
c. Stoppage of payment- Nil
· Cost of form:Rs.0.25
II. Corporate MO:
· “One to Many” (eg.OAP MO in TN Circle)
· Minimum Rs.1000 & Maximum – One Crore
· To get this facility approval from Chief PMG is must
· Commission:Rs.200/- for every one lakh or part thereof and above Ten lacs Rs.25 for every additional one lakh.
· Launched on 10.10.08
· Electronic transmission and physical payment.
· Unpaid/refused/redirected articles also transmitted electronically.
· POs identified for eMO Service should not book ordinary MO.
· Cost of form- Nil
· Launched on 20.01.06
· Minimum and Maximum: Rs.1,000/- to Rs.50,000/-
· Commission: For first 5,000 – Rs.150 and Rs.20 for every additional 5,000 and part thereof.
· Remitter will be given a 16 digit iMO number in a sealed condition and the receiver to receive the amount to present the 16 digit iMO number at any iMO centre and fill up “To Make Payment” (TMP-1) form.
· Recall (if not paid)- Remitter may recall w/o any extra charge.
· Data of IMO kept active for 21 days after which the data transferred to unpaid library.
· Note: The main difference between eMO & iMO is the farmer paid thro Postman and the later paid at PO. The maximum amount is also differ.
· The use of Digital Smart Card for iMO Service is discontinued w.e.f. 08.02.10
· Launched in May, 2001.
· Tie up with Western Union Financial Services, USA
· No of identified POs – over 8500
· Remittance of money from 185 countries
· Maximum amount at a time – 2500 USD
· Outward transmission not available as per RBI instruction.
· The payee will receive the amount in Indian Rupees.
· Customers treated as “Most Favoured Customers”.
· To receive payment, the receiver should present the “Money Transfer Control Number (MTCN) “ - 10 digits.
· Cash availability – Rs.0.5 lakh exclusively for this service at the IMT Locations.
V.e- International MO:
· Launched in Feb, 08
· Agreement with Emirates Post, UAE
· Both inward and outward transmission; but from or to UAE nations only.
· Maximum amount at a time – 2500 USD
· In a calendar year 12 MO can be addressed to one beneficiary.
· Upto Rs.20,000 paid thro Post man or PO counter as per the request of the remitter
· Upto Rs.50,000 paid at PO counter in cash
· Above Rs.50,000 paid at PO counter thro cheque
· Launched on 24.10.09
· Partner Bank – Citi Bank, Mumbai
· Remittances to and from foreign countries
· Each inward remittance shall not exceed 5000 USD at a time and a maximum of 12 inward remittances are allowed in a year
· Upto Rs.50,000 paid in cash and above Rs.50,000 either in cheque or credited in POSB account.
· Outward remittances:
a. Minimum – 100 USD Maximum – 5000 USD per transaction
b. Maximum value of transaction per annum is 1,00,000 USD for Education, Medical and Immigration, - and 10,000 USD for travel
· Limits for other purposes differ from country to country as per the direction of RBI.
· Commission for outward remittance: Either remitter or receiver can pay (as per the option of remitter)
· Countries to which outward remittances can be made– All countries except Nepal, Bhutan, Myanmar, Sudan, Iran, Cuba (These countries are not supported by City Bank, Mumbai)
· Note: Foreign MO facility is available for Nepal (upto Rs.2,000/-) and Bhutan (upto Rs.5,000/-)
a. If paid by remitter:
12 USD +ST for 100 USD – 1000 USD
20 USD +ST for 1001 USD – 3000 USD
25 USD +ST for 3001 USD – 5000 USD
b. If paid by receiver:
6 USD + ST for 100 USD – 500 USD
8 USD + ST for 501 USD – 1000 USD
12 USD + ST for 1001 USD – 2000 USD
15 USD + ST for 2001 USD – 3000 USD
18 USD + ST for 3001 USD – 4000 USD
20 USD + ST for 4001 USD – 5000 USD
· Swift Code & IBAN are mandatory
· ISO 9362 (also known as SWIFT code) is a standard list of Bank Identifier Codes approved by the International Organization for Standardization. These codes are used when transferring money to a bank account in another country.
· The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across national borders. All banks in Europe (except for the Commonwealth of Independent States) provide an IBAN identifier for their accounts as well as nationally recognized identifiers.
· MO Videsh should not be booked during Saturdays.