INDIA POST STRIKES IT RICH WITH CASH-ON-DELIVERY PAYMENTS Labels: COD

India Post, which is trying to cash in on the e-commerce boom in the country, expects cash collected and disbursed under cash-on-delivery model of payment to be about Rs 1,500 crore for the year ended March 31.

In its annual report for the year 2015-16, the PSU said it has collected and disbursed more that Rs 1,100 crore under cash-on-delivery for the ten-month period from April 2015 to January 2016.

The Department of Posts, with its network of nearly 1.55 lakh post offices, is the largest postal network in the world.

“In the past one year, the Department has taken major initiatives to strengthen its position for the burgeoning e-commerce business requirements,” the annual report said.

Among other things, the Department has established 48 integrated Parcel Processing Centres and same day/next day delivery of e-commerce parcels in some cites.

Meanwhile, Communication and Information Technology Minister Ravi Shankar Prasad on Monday also visited the parcel sorting hub of India Post in Noida, Uttar Pradesh.