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Philately & other products

Philately & other products. Sale of Gold Coin. India Post sells gold coins with its logo across India through 630 Post offices with certification Valcambi, Switzerland Service provided in association with World Gold Council and Reliance Money Limited

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Philately & other products

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  1. Philately & other products

  2. Sale of Gold Coin • India Post sells gold coins with its logo across India through 630 Post offices with certification Valcambi, Switzerland • Service provided in association with World Gold Council and Reliance Money Limited • The gold coins are of the weight of 0.5 g, 1 g, 5 g and 8 g of 24 carat with 99.99% purity. • Internationally recognized certification, quality packaging, product standardization and assayer certificate.

  3. Telephone Revenue Collection • Collection of Telephone bills on behalf of BSNL/MTNL • Post Office receives Rs. 10/- as commission for one bill collection • Customer tenders telephone bill • Counter PA checks & collects money • Amount collected is remitted to BSNL on the same day.

  4. Mutual Funds • Scheme started On 22nd January 2001 • India Post in partnership with IDBI-Principal, launched a scheme for distribution/sale of mutual funds through post offices. • Schemes of  Principal, SBI, UTI, Franklin Templeton and Reliance Mutual Fund are retailed. • Service available in designated Post Offices of the country

  5. WUMT/MoneyGram • These two are the facility of transfer of money from other countries to India. • WUMT: Western Union Money Transfer • MoneyGam: MoneyGram International Money Transfer Service • Facilities are available from selected countries. • To fulfill the needs of • NRI dependents families • Visiting international tourists • Foreign students studying in India

  6. WUMT/Moneygram… • Important post offices do these transaction as an agency function • PO after verification of electronic clearance makes payment • Maximum amount that can be received at a time is 2500 USD in each services. • All payment exceeding Rs.50,000 will be paid by cheque or direct credit to POSB account of the recipient.

  7. New Pension Scheme • NPS is available to all citizens of India with effect from 01 May 2009 • It is compulsory to Central Govt.employees appointed on or after 1.01.2004 • The NPS is having two tiers. Tier-I and Tier-II. • This will be discussed in detail separately.

  8. Exercise 2.1.5

  9. PHILATELY • King of hobbies and hobby of kings • Art of systematic collection of stamps • Enrich treasure of knowledge on various subject and field • The collection will have its own unimaginable value

  10. Philatelic Bureau • Branch of HO/SO set up to deal with philatelic items • Provides special cancellation on FDCs/Special Covers • Maintains PD accounts and deals with mail orders

  11. Philatelic Counters • Sell philatelic items- in all HO s and authorized Offices • Do not provide special cancellation • Offer registration facility for opening of PD accounts • Maintains PD accounts and deals with mail orders

  12. PHILATELIC PRODUCTS • Stamps • Postage stamps; issued for day-to-day use . Reprinted • Commemorative stamps; Issued to commemorate certain events, personalities, themes etc- not reprinted • First Day Covers (FDC) • Issued along with commemorative stamps

  13. PHILATELIC PRODUCTS… • Special Covers • Issued in such events that are not important to be commemorated by issue of special stamps • Issued at the instance of private parties on payment of requisite charges • Covers should bear minimum postage stamps • Brouchers/Information sheets • Publicity brouchers • Brief write-up on the subject

  14. PHILATELIC PRODUCTS… • Miniature sheets • Sheet-let comprising of one or more postal valid stamps with which issue concerns • Contain subject illustrations. • Price equal to face value of the stamps

  15. DEPOSIT ACCOUNTS • Opened with minimum deposit of Rs.200 • Philatelic items sent by post on the day of release with postage free • Re-depositing the amount can continue the account

  16. Types of stamp collections • General collection(No rigid rules for collection of Stamps) • All countries • Several subjects • All kind of materials • Country collection • Specialize in one or more countries • Thematic collection • Collection on a theme, subject or topic

  17. Exercise 2.1.6

  18. Accounting in Post Offices • Branch Offices do selected transactions only. Transactions are accounted daily in BO account under appropriate head of account and every day account will be submitted to Account Office. • Branch Office Account Book • Branch Office Journal • Branch Office SB/RD Journal • Branch Office RPLI transaction register • Branch Office Daily Account

  19. Accounting in Post Offices… • Sub Offices do all type of transactions and account it daily in SO account. SO will incorporate the accounts of Branch Offices under its account jurisdiction in its account. SOs will submits its account every day to its HO. • SO Account • Treasurer Cash Book (if authorized) • Different lists of transactions • SO Daily Account

  20. Accounting in Post Offices… • Head Offices will do all type of transactions. It is responsible for consolidation of accounts of SOs and BOs under its account jurisdiction. It will submit periodical returns to its Postal Account Office (Audit Office). Important accounting records in HO are the following. • SO Summary • Treasurer cash book • HO Summary • HO Cash book & PM’s Balance sheet • Monthly cash account

  21. Thank you

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