Lok Sabha Question No. 3560 (UNSTARRED), answered on 2021-03-17
Subject: Sale of Financial Instruments by India Post
Ministry: COMMUNICATIONS
Asked by: Rajendra Agrawal

## GOVERNMENT OF INDIA MINISTRY OF COMMUNICATIONS DEPARTMENT OF POSTS

## LOK  SABHA UNSTARRED QUESTION NO. 3560 TO BE ANSWERED ON 17 TH  MARCH, 2021

## SALE OF FINANCIAL INSTRUMENTS BY INDIA POST

## 3560.   SHRI RAJENDRA AGRAWAL:

Will the Minister of COMMUNICATIONS be pleased to state:

- (a) the amount earned by India posts through the sale of financial instruments during each of the last two years;
- (b) which  out  of  the  financial  instrument  services  or  Postal  Services  have  been  the more profitable business for the India Posts during the same period the details thereof; and
- (c) whether the Ministry has prepared any vision document for the India Post to enable it  to  stay  relevant  in  the  current  era  of  internet-enabled  communication  and  if  so,  the details thereof and if not, the reasons therefor?

## ANSWER

## MINISTER OF STATE FOR COMMUNICATIONS, EDUCATION AND ELECTRONICS & INFORMATION TECHNOLOGY (SHRI SANJAY DHOTRE)

- (a)  Sir, The amount earned by the India Post with the sale of Financial instruments during last two years is as under: -

| Description of Financial Services   |   Revenue during Financial Year 2018-19 (In Crores) |   Revenue during Financial Year 2019-20 (In Crores) |
|-------------------------------------|-----------------------------------------------------|-----------------------------------------------------|
| Savings Bank &Savings Certificate   |                                             8262.93 |                                             8660.05 |

(b) Sir, The details of amount earned by the India Post from Financial Services or Postal Services for last two years is as under: -

| Sl. No.            | Details of Postal Services                                                                                                | Revenue during Financial Year 2018-19 (In Crores)   | Revenue during Financial Year 2019-20 (In Crores)   |
|--------------------|---------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------|-----------------------------------------------------|
| FINANCIAL SERVICES | FINANCIAL SERVICES                                                                                                        |                                                     |                                                     |
| 1.                 | Savings Bank &Savings Certificate                                                                                         | 8,262.93                                            | 8,660.05                                            |
| POSTAL SERVICES    | POSTAL SERVICES                                                                                                           |                                                     |                                                     |
| 1.                 | Speed Post                                                                                                                | 1,922.51                                            | 1,764.19                                            |
| 2.                 | Postage through Franking Machines and Pre-postage                                                                         | 1,180.83                                            | 1,335.35                                            |
| 3.                 | Other Activities like Aadhaar, Post Office Passport Seva Kendra, Cable TV registration, Western Union Money Transfer etc. | 604.30                                              | 595.86                                              |
| 4.                 | Postage - Other Schemes                                                                                                   | 322.06                                              | 408.15                                              |
| 5.                 | Business Post                                                                                                             | 271.47                                              | 134.38                                              |
| 6.                 | Money Order& Indian Postal Order                                                                                          | 248.63                                              | 224.25                                              |
| 7.                 | Business Parcel                                                                                                           | 84.54                                               | 135.58                                              |
| 8.                 | Sale of Stamps                                                                                                            | 80.86                                               | 210.24                                              |
| 9.                 | Retail Post                                                                                                               | 72.98                                               | 62.54                                               |
| 10.                | Commemorative Stamps                                                                                                      | 24.93                                               | 33.73                                               |

(c)  Yes Sir, India Post has prepared a vision document to enable it to stay relevant in the current  era  of  inter-enabled  communication  and  provide  better  facility  to  the  customers. The detail of vision statement is as under: -

## Vision

India Post's products and services will be the customer's first choice.

## Mission

-  To sustain its position as the largest postal network in the world touching the lives of every citizen in the country.
-  To provide mail parcel, money transfer, banking, insurance and retail services with speed and reliability.
-  To provide services to the customers on value-for-money basis.
-  To  ensure  that  the  employees  are  proud  to  be  its  main  strength  and  serve  its customers with a human touch.
-  To continue to deliver social security services and to enable last mile connectivity as a Government of India platform.

## Core Values

-  We will maintain our iconic status as a unique and trusted national institution by:
-  Always providing the human touch in all our interactions with society
-  Being responsive and reliable
-  Demonstrating the highest order of integrity, honesty, transparency and professionalism
-  Discharging  our  responsibilities  towards  the  society  in  an  environment  of  deep trust, mutual respect and a culture of service before self.

## Strategic Goals

-  Achieve  the  long  term  goal  of  financial  self-sufficiency  by  generating  surpluses from services (existing & new) outside our universal service obligation.
-  Develop,  implement  and  operate  a  system  of  standards  with  accountability  for performance.
-  Develop a scalable and flexible technology infrastructure to support our operations.
-  Be the preferred, trusted and reliable service partner for all customers.
-  Ensure that India Post acquires all required people capabilities to deliver its chosen services portfolio.
-  Be the interface between citizens and the government.

*******