{"id":5169,"date":"2018-06-05T05:07:42","date_gmt":"2018-06-04T23:37:42","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=5169"},"modified":"2019-09-25T18:32:10","modified_gmt":"2019-09-25T13:02:10","slug":"how-profitable-is-india-post-are-they-making-a-profit","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/how-profitable-is-india-post-are-they-making-a-profit\/","title":{"rendered":"How profitable is India Post? Are they making a profit?"},"content":{"rendered":"<div class=\"u-serif-font-main--large\">\n<div class=\"ui_qtext_expanded\">\n<p class=\"ui_qtext_para\">India post is a service-oriented organization which reaches the remote villages of India. Today also, parents eagerly wait for a letter from children where there is no internet or mobile signal. Some post offices though they run under loss, they continue serving the people of that area in order to connect those people with the rest of the world. It is a central government policy that service comes first then business.<\/p>\n<div class=\"u-serif-font-main--large\">\n<div><strong>As per India Post Annual Report 2017-18<\/strong><\/div>\n<div>In the event of loss of domestic Speed\u00a0Post articles or loss of its contents or damage\u00a0to the contents, double the amount of\u00a0Speed Post charges paid by the customer<\/div>\n<div><\/div>\n<div><strong>Irregular parking of funds and consequential loss of interest:-<\/strong><\/div>\n<\/div>\n<div>Director of Accounts (Postal), Cuttack did\u00a0not claim the interest of ` 64.7 crore from the\u00a0State Bank of India for the delay in remittance of\u00a0Government money. Besides, ` 485.61 crore\u00a0was allowed to be irregularly retained in a\u00a0current account opened in violation of RBI\u00a0guidelines.<br \/>\n<strong>Loss of Revenue on Non-Registered\u00a0<\/strong><strong>Newspapers:-<\/strong><br \/>\nNewspapers not registered with Registrar of\u00a0Newspapers in India were irregularly allowed\u00a0to avail of the concessional tariff which resulted\u00a0in loss of revenue of ` 2.45 crore in four Postal\u00a0Circles viz. Karnataka, Maharashtra, Tamil\u00a0Nadu and Gujarat even after assurances given\u00a0by DoP in April, 2013. Para No 2.3<br \/>\nExcess Payment of Haulage Charges\u00a0Uttar Pradesh, Tamil Nadu and Gujarat\u00a0Circles made <a href=\"https:\/\/www.antworksmoney.com\">payment<\/a> for excess berths than\u00a0sanctioned which resulted in the excess payment\u00a0of ` 2.70 crores besides non-claim of rebate of\u00a0` 0.18 crore.<\/div>\n<div class=\"u-serif-font-main--large\">\n<div><\/div>\n<\/div>\n<div id=\"siMPKg\"><\/div>\n<\/div>\n<\/div>\n<div id=\"LYLzSC\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>India post is a service-oriented organization which reaches the remote villages of India. Today also, parents eagerly wait for a letter from children where there is no internet or mobile signal. Some post offices though they run under loss, they continue serving the people of that area in order to connect those people with the &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/how-profitable-is-india-post-are-they-making-a-profit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;How profitable is India Post? Are they making a profit?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5169","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>How profitable is India Post? 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