Is post office profitable in India?

Revenue Rs13,600 crore, loss Rs14,800 crore plus pension Rs10,000 crore pa (per annum) (guesstimate). 4,560 owned buildings, 19,641 rented buildings (where are the other 130,000 post offices located?).

Is Indian post franchise profitable?

You can earn good amount of money every month by taking post office franchises. Spend only 5000 rupees: The good thing is that there is also a scope of bumper profits at a low cost. There are two types of franchisees like this scheme.

Is India post running in loss?

India Post Now Biggest Loss-making PSU, Loses Rs 15,000 Crore In FY19.

How do post office franchises make money?

Retailers do not have to pay any franchise fees and the Post Office pays for the equipment, installation and staff training. Franchisees get paid a fee for every Post Office transaction. The Post Office network has been reduced by more than 50\% over the past 30 years and continues to be run down.”

Is Post Office franchise profitable Quora?

These models boast huge profitability. It generates huge wealth for franchise partners, vendors, and employees. They are well established in the market.

Who funds the Post Office deficit?

The Postal Service receives no direct taxpayer funds. It relies on revenues from stamps and other service fees. Although COVID-19 has choked off the USPS revenue in recent months, factors that arose well before coronavirus have contributed to the unsustainability of the Postal Service’s financial situation for years.

What is the official website of India Post?

www.indiapost.gov.in. The Department of Posts (DoP), trading as India Post, is a government-operated postal system in India, which is a subsidiary of the Ministry of Communications. Generally called “the post office” in India, it is the most widely distributed postal system in the world.

What is the role of the Department of post in India?

The DoP also acts as an agent for Government of India in discharging other services for citizens such as old age pension payments and Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) wage disbursement. With 155,015 post offices, India Post has the most widely distributed postal network in the world.

What is the history of India’s Postal Service?

India Post inaugurated a floating post office in August 2011 at Dal Lake in Srinagar, Kashmir. Telegraphy and telephony made their appearance as part of the postal service before becoming separate departments. The Posts and Telegraphs Departments merged in 1914, dividing again on 1 January 1985.

Where was the first floating post office opened in India?

India Post inaugurated a floating post office in August 2011 at Dal Lake in Srinagar, Kashmir. Telegraphy and telephony made their appearance as part of the postal service before becoming separate departments. One unique telegraph office was established and operated in the capital of Lhasa until the People’s Republic of China’s annexation of Tibet.