Tag: India

India Post to set up a bank

Posted by | Aug 17, 2006 | |

In a dramatic attempt to wipe out the Rs 1,000 crore deficit that India Post currently runs, it has started work to set up a bank. Tentatively called the Post Bank of India, sources say it will start operating with 30 branches towards the end of this year – next year on the outside.

During the course of the 11th five year plan, the idea is to open 1,500 branches across the country. In many ways, the move mirrors a transformation that was engineered by the Italian postal service.

After years of mounting losses broke its back, Poste Italiana started using its network to run everything, from a bank to selling vacuum cleaners. The gamble paid off and CEO Massimo Sarmi is now spoken of in revered tones.

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DHL to delist Blue Dart from bourses

Posted by | Aug 14, 2006 | |

Blue Dart Express Ltd, which was acquired by the Deutsche Post AG through its subsidiary DHL Singapore Pte Ltd last year, has initiated the process of delisting from the Indian stock exchanges, at the behest of its new promoter.

The Blue Dart’s board is to consider the proposal at its meeting scheduled for Thursday. In a notice to stock exchanges on Monday, Blue Dart said the company has received a notification from DHL Express (Singapore) Pte Ltd, to purchase the outstanding publicly held shares of the company, and delist it under the prevailing regulations.

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Blue Dart board meet Aug. 17 to consider DHL offer

Posted by | Aug 14, 2006 | |

The majority shareholder of Indian express delivery firm Blue Dart Express Ltd. has offered to buy out all outstanding shares at 550 rupees a share, the company said on Monday.

Blue Dart board would meet on August 17 to consider the offer from DHL Express (Singapore) Pte. Ltd., which owns 81.03 percent of the company, and take a decision on consequent delisting.

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ePOSTIT Celebrates the First Anniversary of its Unique Global Mailing Concept

Posted by | Aug 9, 2006 | |

US-based global leader in Email to Postal address delivery services, ePOSTIT, celebrates the first anniversary of their FREE service. ePOSTIT entered the market last year with their new unique Free mailing concept which connects the virtual PC world to the real postal address world. It growth since their initial introduction has exploded. ePOSTIT delivers thousands of mails per month to clients all over the world.

Lisa Chang, Director & Co-Partner, expressed that a celebration is definitely in order. “By the end of our first year, ePOSTIT has established itself as company with an effective mailing concept to the common person. Our strong numbers in the growth of our service users is a testament to how ePOSTIT is filling a growing need as our world becomes more connected. It is exhilarating to be part of these developments from the ground-up and especially gratifying to watch the company grow and evolve. Our success is driven by our Founder’s vision and passion to provide the best experience to our service users coupled with a well managed growth plan.”

“Following in the footsteps of our Free service, Our Premium Specialized Bulk & Business Printing Service is growing in popularity and use. ePOSTIT has processed more than 12,000 Photos & nearly 4200 Messages alone in the first 10 months of our Free service. In addition, ePOSTIT is now providing free Public Safety Ads to create public awareness regarding Cancer & Cigarette smoking.”

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India's postal network largest in the world

Posted by | Jul 31, 2006 | |

Minister
Ajmer: India’s postal network is the biggest in the world with one lakh fifty five thousand post offices, Union Minister of State for Communication and Information Technology Shakeel Ahmed said here today.

At the time of freedom only 23 thousand post offices were functioning, he told reporters after offering a ‘chadar’ at the shrine here of Sufi saint Khwaja Moinuddhin Chisti.

He said postmen would now also the verify voter list, new names in the voter list and address verification for mobile connections.

BJP leader and former union minister Shahnawaj Hussain, who also paid homage at the shrine, said an airport was essential in the city.

He said that during NDA rule, he had tried his “best” for getting an aerodrome sanctioned but the state government “did not sanction” free land for the purpose.

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