POSTAL SERVICES IN GOA

PRESENTED BY:
PRAJOT MORAJKAR
RITESH CHODANKAR
KIZZY NUNES
SHAILEJA HARIJAN
HISTORY
 No institution comes closer to human life as post
office.
 Homing pigeons were used as the pigeon post.
 functions under the brand name – INDIA
POST.
 Widely distributed post office system in the

world.
 India has been divided into 22 postal circles.
 VISION STATEMENT OF INDIA POST

“India Post will be a socially committed, technology

driven, professionally managed & forward looking
Organization”
 Established 1854 in Goa.

 Separate postal treaty.

POSTAL SERVICES
 Savings account

 Monthly Income Scheme (MIS)

 Recurring Deposit

 Rate of interest 3.5% per annum

  Recurring Deposit

 Time Deposit
 Parcel

 Bill Mail Service

 Media Post

 National Savings Certificate (VIII Issue)

 Surface Air Lifted (SAL)

 Express Parcel Post

 15 Years Public Provident  Fund

 Kissan Vikas Patra

 National Savings Certificates (NSC)

 Postal Life Insurance

 Rural Postal Life Insurance

 Business Post
SENIOR CITIZEN SAVINGS SCHEME
 Launched on 2nd August 2004.
 Age limit for the scheme.
 Number of opening of account.
 Non-resident Indians (NRIs) and Hindu Undivided Family
(HUF) are not eligible to open an account.
 The individual may open one or more account in the multiple
of INR.1000/-, subject to a maximum limit of INR.15 lakh.
 Holder qualify for the benefit of Section 80C of the Income 
Tax Act, 1961 from 1.4.2007.
 Five year scheme.
Procedure:
 Submission of forms.
 2 photo copy.
 Pan card.
 Particular book is maintained.
 Interest calculated on actual amount.
 Interest is paid @ 9% Quarterly.
 10% TDS on interest.
Calculation of interest
 Interest is payable quarterly from date of deposit.
◦ 9% on actual amount.
◦ 1000 * ¼ * 9/100 = 22.5

Amount of Amount of interest

deposit (Rs) per quarter (Rs)
1000 22.5
2000 45
3000 67.5
4000 90
5000 112.5
 Interest paid on pro rata basis.
◦ Amount of interest =
Amount of deposit * Total number of days in quarter * Yearly rate of interest Total
number of days in year
◦ example:
A/c is opened 11/08/2004, interest will be calculated as:
1000 * 51 * 9% = 12.58
365
 interest should be rounded off.
◦ Example
1000 * 51 * 9% = 12.58
365
i.e. 12.58 = 13

 Method of computation- Simple interest

Closer:
 No withdrawal before expiry of a period.
 Post Maturity Interest is paid as per the rate of Post

Office Savings Accounts.

 If holder expires amount is given to nominee.

 Premature closure of account.

◦ After one year but before 2 years on deduction of 1 ½
% of the deposit.
◦ After 2 years but before date of maturity on
deduction of 1% of the deposit
Transfer:
 Customer willingness.
 Transfer charges Rs50.

Extension:
 Extended for 3yr.
 No charges