Tag: India

ING Group under negotiations to provide products through India Post

Posted by | Jan 5, 2007 | |

According to the Hindu Business Line, Dutch financial services firm ING Group is in negotiations with the Department of Posts in anticipation of providing life insurance products through the India Post network.

The global financial institution has been actively seeking to expand its distribution network to support its joint venture ING Vysya Life Insurance Company, in which it holds a 26% stake. At present, ING has already established a tie-up with Japan Post for the distribution of its services to support its Japanese joint venture and hopes to replicate this with India Post. However, almost all life insurers are in a race to obtain additional tie-ups. The Indian alliance would also generate an additional income for India Post, increasing its revenues. Cited in the Hindu Business Line, ING sources are said to have confirmed the discussions but refused to comment further on details regarding its status and progress.

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Postal department, BSNL to set up ATMs in rural areas in India

Posted by | Dec 29, 2006 | |

The Department of Posts (DoP) and the government-owned Bharat Sanchar Nigam (BSNL) will jointly put ATMs in rural areas across the country. In rural areas, post offices will be used as sites for providing towers. BSNL will also use services of postmen for collecting telephone bills in the remote areas.

This is part of an agreement signed on Thursday between BSNL and the DoP. The agreement also envisages that BSNL will use postmen as mobile PCOs. BSNL will provide wireless in local loop (WLL)-based mobile telephones to the postmen. When a postman goes to a village, he can carry a mobile phone with him. There will be a meter attached to it. People can use mobile PCOs and pay the postman.

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Panel to attract private companies in air cargo

Posted by | Dec 20, 2006 | |

In order to attract private investments in air cargo operations from Reliance, Tatas and Deccan Aviation, the government has set up an inter-ministerial group (IMG).
“The group will identify requirements of different sectors – ranging from those trading in perishable goods to consumer durables – and make suggestions to expedite and improve cargo trade at domestic airports,” an official in the government said.
The civil aviation ministry, which is formulating a new policy to develop domestic airports for international cargo handling, will include suggestions of various ministries in that policy.
The move is significant since a host of private companies such as Reliance and Deccan Aviation as well as Tata group have recently shown interest in starting dedicated air cargo carriers, he said. The group comprises of officials from civil aviation, finance and commerce ministries. Representatives from the cargo industry such as DHL Express and Blue Dart are also part of the IMG.

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Where is Asia’s Express Market going?

Posted by | Dec 19, 2006 | |

There’s only one way to go and that is UP. In 2007 we will see more new players entering the market as Asia’s economies continue to grow. Courier industry is characterized by high entry barriers. It needs huge investment in infrastructure and technology and there is intense competition in the industry. The market for courier industry can be divided into individual, corporate and small and medium enterprises. On the basis of type of delivery, it can also be divided into overnight delivery and same day delivery services.

Courier companies are using information technology to enhance the quality of their customer service and obtain competitive edge. There are only a few global courier companies like Fed Ex, DHL, UPS and TNT and there is intense competition among them with each one trying to establish its superiority. In India, presently, DHL, Blue Dart and Elbee are the major players contributing to 70% of industry’s revenues. An interesting observation in the past three years , is that the big Four are now entering the domestic market, an area that they have been relatively weak in. This could also result to a backlash on their main core international businesss. Asia’s domestic courier market has always been the strength of the home-grown operators with intimate familiarity of the terrain.

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Postal department to unveil franchising plans

Posted by | Dec 16, 2006 | |

To cut losses and increase its reach, the Department of Posts has recently unveiled plans for franchising postal services. For this, the Department will soon launch a pilot project in 100 cities across India. The franchises will be tested for financial viability, i.e., whether they can be self-supporting if not profit-generating, without affecting the Department’s existing network. Ten of the cities earmarked for the project are in Gujarat, said Chief Postmaster General of Gujarat Circle Vijayalaxmi Sheth. ‘‘We have identified ten spots for franchises and will be inviting applications for the same shortly,’’ she said.

‘‘Parties who apply for a franchise will be required to have passed Class XII. Postal pensioners who own a computer and have a premise in place would be given preference. There are also some mandatory requirements like a character certificate, a bank guarantee of Rs 10,000 and a ready business plan. Those who meet the specified requirements will then be imparted training before the open their postal franchise outlet,’’ she said.

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