| These developments have come on the heels of the space given to postal circles to choose revenue generating methods, subject to the approval of the department of posts' (DOP) board. |
| Vatsala Raghu, chief postmaster general of Tamil Nadu circle, on Tuesday told a press conference that the plan was to generate a revenue of Rs 4 lakh a month through the logistics services. |
| The Tamil Nadu circle would become the second circle in the country to launch logistics services following the start of similar services between Mumbai and Pune. |
| Vatsala Raghu said that the postal department had outsourced the execution of logistics services. However, an employee of the department would accompany the consignments. |
| The logistics services would offer rates that can be compared with the premium players in the field, she added. The postal department received a positive response from corporates when it undertook a study to examine the viability of logistics services, she said. |
| The Chennai to Hosur logistics services would cover a few locations in between. They are Kancheepuram, Ranipet, Vellore and Ambur. Subsequently, the department plans to start another service between Chennai and Pondicherry. |
| The Tamil Nadu circle is the leader among postal circles in terms of sales of financial products such as mutual fund units and government bonds. |
| Vatsala Raghu said the circle generated business of Rs 1,700 crore in 2004-05, as compared to a business of about Rs 906 crore in the preceding year. |
| Tamil Nadu currently has seven finance marts where securities such as mutual fund units are sold. The circle plans to more than double the marts to 15 soon. The Tamil Nadu circle also plans to invest Rs 7.5 crore in Chennai in renovating and building new premises. |
Top Section
Explore Business Standard