DOCSLIB.ORG

The Role of Postal Networks in Digital Financial Services

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Role of Postal Networks in Digital Financial Services International Telecommunication Union ITU-T FG-DFS TELECOMMUNICATION STANDARDIZATION SECTOR OF ITU (10/2016) ITU-T Focus Group Digital Financial Services The Role of Postal Networks in Digital Financial Services Focus Group Technical Report ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services FOREWORD The International Telecommunication Union (ITU) is the United Nations specialized agency in the field of telecommunications, information and communication technologies (ICTs). The ITU Telecommunication Standardization Sector (ITU-T) is a permanent organ of ITU. ITU-T is responsible for studying technical, operating and tariff questions and issuing Recommendations on them with a view to standardizing telecommunications on a worldwide basis. The procedures for establishment of focus groups are defined in Recommendation ITU-T A.7. TSAG set up the ITU-T Focus Group Digital Financial Services (FG DFSs) at its meeting in June 2014. TSAG is the parent group of FG DFS. Deliverables of focus groups can take the form of technical reports, specifications, etc., and aim to provide material for consideration by the parent group in its standardization activities. Deliverables of focus groups are not ITU-T Recommendations. ITU 2016 This work is licensed to the public through a Creative Commons Attribution-Non-Commercial-Share Alike 4.0 International license (CC BY-NC-SA 4.0). For more information visit https://creativecommons.org/licenses/by-nc-sa/4.0/ ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services The Role of Postal Networks in Digital Financial Services ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services About this Report This Technical Report was written by the following authors, contributors, and reviewers: The authors of this Technical Report are Nils Clotteau, David Avsec and Yury Grin. Contributions were received from the members of the FG DFS Ecosystem Working Group and, in specific, from Antony Chigaazira, Sergey Dukelskiy, Anil Gupta, Viktor Nosov, Alexandre Rodrigues, Ricardo D. Valencia, and Graham Wright. This Technical Report was reviewed by the Focus Group Digital Financial Services. If you would like to provide any additional information, please contact Vijay Mauree at [email protected] ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services CONTENTS Page 1 Introduction ................................................................................................................................ 6 2 The Current State of Play .......................................................................................................... 7 3 The Role of Postal Networks in Digital Financial Services .................................................... 9 3.1 Posts as support services .............................................................................................................................. 9 3.2 Posts as direct DFS providers ................................................................................................................... 13 4 What’s Next? ............................................................................................................................ 16 List of Figures Figure 1 – Traditional Postal Operator (until 80s-90s) .................................................................... 6 Figure 2 – DFS Operator .................................................................................................................. 6 Figure 3 – SWOT ............................................................................................................................. 9 Figure 4: Areas of responsibility .................................................................................................... 11 List of Tables Page Table 1 – Impact of Choice of Partners ................................................................................................................ 12 ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services Executive summary Postal operators have a long tradition of offering financial services. This report explores the current and potential role of postal networks in the emerging digital financial services (DFSs) ecosystem. The report investigates five separate models by which today’s postal networks are involved in the ecosystem: two as support services, and three as direct providers of DFSs. This report also covers three new ways for posts to be involved in the ecosystem: as a Mobile Network Operator (MNO), an interoperability platform, and as an eCommerce facilitator. ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services 1 Introduction Postal services are primarily associated with mail, postal carriers, and physical delivery. Therefore, post offices are not the first thing that comes to mind when discussing digital financial services (DFSs). However, postal operators have a long tradition of offering financial services, which dates back to 1861, when the first postal savings bank was established in the United Kingdom. Furthermore, if we go back some 20 or 30 years, we should remember that in many countries, postal and telecommunication activities were grouped into one single entity: the Post and Telecom (P&T) operator. A large number of those P&T operators were also providing financial services (money orders, telegraphic money orders, savings accounts, etc.). “Traditional” postal operators could therefore be schematically represented as follows: Figure 1 – Traditional postal operator (until 80s-90s) Today, when we talk about the development of DFSs, three complementary elements are needed: A physical network for the cash-in/cash-out and to act as a front office to engage clients; A digital network to transport the flow of digital messages (mobile, cards, electronic, etc.) A financial services provider in some cases this will be the same as one of the two previous elements), which will ensure regulatory compliance, take care of the back-office, design products, etc. Such an operator can be represented schematically in the following way: Figure 2 – DFS operator Comparing Figures 1 and 2, we can see the similarities between the model of the traditional postal operator and a DFS operator. Postal operators boast one of the largest physical networks in the world, with a total of more than 660,000 post offices, which can all be used as agents for the provision of DFS. Most postal operators today also offer some form of financial services, from domestic and international electronic money transfers to savings accounts, insurance, and loans. It is estimated that 1.5 billion people globally access financial services through a post office.1 In this context, postal operators already possess two of the three key elements necessary to deploy DFS. 1 ANSÓN & TOLEDANO, 2010, “BETWEEN FINANCIAL INCLUSION AND POSTAL BANKING: IS THE SURVIVAL OF POSTS ALSO THERE?”, UNIVERSAL POSTAL UNION. ITU-T Focus Group Digital Financial Services: The Role of Postal Networks in Digital Financial Services Therefore, postal operators are very well positioned to at least play a role in the development of DFSs. 2 The current state of play Based on data from a questionnaire launched by the Universal Postal Union (UPU) in 2015, 91% of designated postal operators2 in UPU member countries and territories (183 out of 201) provide financial services. Almost all of these provide remittance services, either on their own or in partnership with banks and/or money transfer companies. A large proportion of postal operators also provide bill payments or government payments. In terms of account-based services (current accounts or savings accounts), 87 postal operators are offering them, on their own (in 52 countries or territories), or in partnership with other financial institutions (in 36 countries).3 This represents a total of 1.96 billion accounts belonging to approximately 1 billion clients. The UPU established a business model (BM) typology for the provision of financial services by postal operators.4 In all models, there are varying levels of operational complexity and involvement of the postal operator in the provision of financial services. Five main families of BMs have been identified: • BM 1: cash merchant. The Post acts as a cash-in/cash-out agent for one or more partners (money transfer operators (MTO), mobile money operators, utility companies, etc.). The services facilitated by the Post are transactional financial services such as remittances, bill payments, government payments, etc. • BM 2: proprietary domestic and cross-border payments. The Post operates its own domestic payments or international remittances (for the latter, in partnership with other Posts). This can be done in post offices using paper-based money orders (a model that is progressively disappearing) or electronic transfers, which are now the norm. 88% of the 150 Posts that are operating under this model are offering electronic services. In some countries, such as Morocco, these services are also available through mobile phones for peer to peer (P2P) payments. • BM 3: partnership with a financial services provider. The Post partners with a financial services provider such as a bank, insurance company, FinTech, technology provider, mobile network operator, or a microfinance institution, to offer the financial services of
Load more

Recommended publications
  • 9 Post & Telecommunications
    POST AND TELECOMMUNICATIONS 441 9 Post & Telecommunications ORGANISATION The Office of the Director General of Audit, Post and Telecommunications has a chequered history and can trace its origin to 1837 when it was known as the Office of the Accountant General, Posts and Telegraphs and continued with this designation till 1978. With the departmentalisation of accounts with effect from April 1976 the designation of AGP&T was changed to Director of Audit, P&T in 1979. From July 1990 onwards it was designated as Director General of Audit, Post and Telecommunications (DGAP&T). The Central Office which is the Headquarters of DGAP&T was located in Shimla till early 1970 and thereafter it shifted to Delhi. The Director General of Audit is assisted by two Group Officers in Central Office—one in charge of Administration and other in charge of the Report Group. However, there was a difficult period from November 1993 till end of 1996 when there was only one Deputy Director for the Central office. The P&T Audit Organisation has 16 branch Audit Offices across the country; while 10 of these (located at Chennai, Delhi, Hyderabad, Kapurthala, Lucknow, Mumbai, Nagpur, Patna and Thiruvananthapuram as well as the Stores, Workshop and Telegraph Check Office, Kolkata) were headed by IA&AS Officers of the rank of Director/ Dy. Director. The charges of the remaining branch Audit Offices (located at Ahmedabad, Bangalore, Bhopal, Cuttack, Jaipur and Kolkata) were held by Directors/ Dy. Directors of one of the other branch Audit Offices (as of March 2006) as additional charge. P&T Audit organisation deals with all the three principal streams of audit viz.
    [Show full text]
  • Public Notice-Merged.Pdf
    No. 30-02/202 0-ws Government of lndia Ministry of Communications Department of Posts (PO Division) Dak Bhawan, Sansad Marg New Delhi- 110 001 Dated: 8th September, 2020 PUBLIC NOTICE SUBJECT: SEEKtNG suGGEsrloNs/FEEDBAcK/coMMENTS/|NpursrurEWs FROM GENERAL PUBLIC/STAKEHOLDERS ON THE DRAFT "INDIAN POST OFFICE RULES,2020" The central Government proposes to make a new set of lndian post office Rules' 2020 (lPo Rules, 2020) which wiil be in supersession of lpo Rures, 1933. passage 2- with the of time and induction of technorogy, the working of the post office has changed significanfly since 1933, so there is a need for a new set of rules in sync with the today's environment. 3. ln the new set of rpo Rures, 2020. some new rures have been framed, obsolete rules have been dereted from and many rures have been re- framed/modified in sync with the present scenario. The lndian post office Rules, 2020 will be a new set of Rures which wiil govern the functioning of the post offices henceforth. 4. ln the context of the above, the draft of proposed rpo Rures,2020 is hereby notified for information, seeking suggestions/feedbacucomments/inputs/views from general public/stakehorders/customers. Notice is hereby given that the suggestions/feedbacucomments/inputs/views received with regard to the said draft lPo Rules, 2020 will be taken into consideration tilr 6:00 p.m. of 9th october, 2020. 5. Suggestions/Feedback/comments/rnputsA/iews, if any, may be addressed to Ms. Sukriti Gupta, Assistant Director General (postal Operations, Room No. 340, Third Floor, Dak Bhawan, sansad Marg, New Derhi-i10001 , Ter.
    [Show full text]
  • POSTAL SAVINGS Reaching Everyone in Asia
    POSTAL SAVINGS Reaching Everyone in Asia Edited by Naoyuki Yoshino, José Ansón, and Matthias Helble ASIAN DEVELOPMENT BANK INSTITUTE Postal Savings - Reaching Everyone in Asia Edited by Naoyuki Yoshino, José Ansón, and Matthias Helble ASIAN DEVELOPMENT BANK INSTITUTE © 2018 Asian Development Bank Institute All rights reserved. First printed in 2018. ISBN: 978 4 89974 083 4 (Print) ISBN: 978 4 89974 084 1 (PDF) The views in this publication do not necessarily reflect the views and policies of the Asian Development Bank Institute (ADBI), its Advisory Council, ADB’s Board or Governors, or the governments of ADB members. ADBI does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. ADBI uses proper ADB member names and abbreviations throughout and any variation or inaccuracy, including in citations and references, should be read as referring to the correct name. By making any designation of or reference to a particular territory or geographic area, or by using the term “recognize,” “country,” or other geographical names in this publication, ADBI does not intend to make any judgments as to the legal or other status of any territory or area. Users are restricted from reselling, redistributing, or creating derivative works without the express, written consent of ADBI. ADB recognizes “China” as the People’s Republic of China. Note: In this publication, “$” refers to US dollars. Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5, Kasumigaseki, Chiyoda-ku Tokyo 100-6008, Japan www.adbi.org Contents List of illustrations v List of contributors ix List of abbreviations xi Introduction 1 Naoyuki Yoshino, José Ansón, and Matthias Helble PART I: Global Overview 1.
    [Show full text]
  • Advancing Financial Inclusion Through Access to Insurance: the Role Of
    Advancing financial inclusion through access to insurance: the role of postal networks Published by the Universal Postal Union (UPU) Berne, Switzerland and by the International Labour Organization (ILO) Geneva, Switzerland. Printed in Switzerland by the printing services of the International Bureau of the UPU. Copyright © 2016 UPU / ILO All rights reserved Except as otherwise indicated, the copyright in this publication is owned by the UPU and the ILO. Reproduction is authorized for non-commercial purposes, subject to proper acknowledgement of the source. This authorization does not extend to any material identified in this publication as being the copyright of a third party. Authorization to reproduce such third party materials must be obtained from the copyright holders concerned. AUTHOR: Guilherme Suedekum TITLE: Advancing financial inclusion through access to insurance: the role of postal networks ISBN: 978-92-95025-84-4 DESIGN: UPU Graphic Unit CONTACT: Nils Clotteau, UPU, [email protected] Craig Churchill, ILO, [email protected] COVER PICTURE: © 2009 Indian Post This study is the result of a joint effort between the International Labour Organization (ILO) and the Universal Postal Union (UPU). It was prepared by Guilherme Suedekum, financial inclusion independent consultant, with the guidance and advice of Craig Churchill, team leader of the ILO’s Impact Insurance Facility, and Nils Clotteau, Acknowledgements Partnerships and Resource Mobilization Expert at the UPU. The team is especially grateful to Dauren Turysbekov, Director of the Department of External Affairs at Kazpost, Michel Kabré, Director of Financial Services at SONAPOST, Titus Juma, Director of Payment Services at the Postal Corporation of Kenya, M’hamed El-Moussaoui, Assistant Director General of Al Barid Bank, and Rajagopal Krishnaswamy, Managing Director at Professional Life Assurance.
    [Show full text]
  • 2 A. What Is Money Laundering 2 B. What Is Financing of Terrorism 3 2
    INDEX Section Topic Page No 1. Introduction: 2 a. What is money laundering 2 b. What is Financing of terrorism 3 2. The objective of AML / KYC / CFT norms 3 3. Definition of Customer 3 4. Customer Due Diligence (CDD) 3 4.1 General Guidelines on CDD 3 5 KYC Policy 4 5.1 Customer Acceptance Policy 4 a. General 4 b. Categorization of Customers 5 c. Documentation required 6 5.2 Customer Identification Procedure 7 5.3 Procedure under KYC for Undertaking business 10 5.3.1 Payment to beneficiaries under Money Transfer 10 5.3.2 Purchase of Foreign Exchange from customers 10 5.3.3 Sale of foreign exchange to customers 11 5.4 Monitoring of transactions 11 5.5 Risk Management 12 6 Inspection / Audit of AML \ KYC documents / procedures 13 7 Introduction to new Technologies 13 8 Combating Financing of Terrorism 13 9 Maintenance of records of transactions 13 10 Definition of Suspicious transaction 14 11 Information to be preserved 14 12 Maintenance and preservation of records 14 13 Reporting of transactions 15 13.1 Reporting schedule 16 14 Attestation of KYC documents 18 15 Comparison of address 18 16 Comparison of name and photo 18 17 Recording of receipt of KYC documents 18 18 Customer Education and Employees training 18 Guidelines on Know Your Customer (KYC) Norms / Anti-Money Laundering (AML) Standards / Combating Financing of Terrorism (CFT) Norms under Prevention of Money Laundering Act, PMLA, 2002 as amended by Prevention of Money Laundering (Amendment) Act, 2009 for International Money Transfer Services(Inward) under the Money Transfer Service Scheme (MTSS) and Money Changing Services in India Post 1.
    [Show full text]
  • Asendia USA COVID-19 Update March 5 2021 V2.Xlsx
    Status Key On Schedule Expect Delays Service Suspended Inbound Transportation to Asendia USA Facilities: Facility Transportation Status Date Updated Daily Updates/Comments New York - Hauppauge On Schedule 3/5/2021 Pennsylvania - Folcroft On Schedule 3/5/2021 Florida - Miami On Schedule 3/5/2021 Illinois - Elk Grove Village On Schedule 3/5/2021 California - Bell On Schedule 3/5/2021 California - Hayward On Schedule 3/5/2021 Operational Processing @ Asendia USA Facilities: Facility Processing Status Date Updated Daily Updates/Comments New York - Hauppauge On Schedule 3/5/2021 Pennsylvania - Folcroft On Schedule 3/5/2021 Florida - Miami On Schedule 3/5/2021 Illinois - Elk Grove Village On Schedule 3/5/2021 California - Bell On Schedule 3/5/2021 California - Hayward On Schedule 3/5/2021 USPS International Service Centers: Facility Processing Status Date Updated Daily Updates/Comments USPS reported that Canada Post has informed that they have recovered their operations in Toronto and that USPS can begin to initiate normal flow of mail from LAX and SFO to Toronto effective March 1 (vs. diverting to Vancouver). - Iceland Post has notified that there were missing EDI messages but USPS not sure it is impacting any of its volume. Claire was awaiting further clarification from ISC New York (JFK) Expect Delays 3/5/2021 Iceland Post and would update if it were at all an impact. - SFO to French Polynesia had a slight delay, with oldest mail Feb. 13, but not huge volume impact. - Antigua and Barbuda – USPS just got word that they are closing due to COVID but not sure if that will lead to an embargo, no word yet and not on the list at moment.
    [Show full text]
  • Association for Postal Commerce
    Association for Postal Commerce "Representing those who use or support the use of mail for Business Communication and Commerce" "You will be able to enjoy only those postal rights you believe are worth defending." 1800 Diagonal Rd., Ste 320 * Alexandria, VA 22314-2862 * Ph.: +1 703 524 0096 * Fax: +1 703 997 2414 Postal News for May 2013 May 31, 2013 Post & Parcel: Post Danmark suffered a massive IT network failure on Wednesday, which took out its track and trace system. The national postal operator in Denmark said the disruption to its communications systems also meant that customers were unable to contact customer service regarding their inability to track their packages. Despite the problems, the company insisted yesterday that it is now back to delivering letters and parcels on time. Post & Parcel: PostNL will be increasing its prices from the beginning of August, with the basic rate for a domestic letter rising 11% to 60c. The Dutch postal service said the rate increases are necessary to counter the impacts of the country’s 8-10% annual decline in mail volumes. Letters going to European destinations will see rates rise to 96c, while letters going to the rest of the world will be charged at EUR 1. Business rates will also increase from 1st August, the company said. The basic rate for franked mail will be EUR 0.52. Despite beginning a “rigorous” series of restructuring effort and cost-saving plans, PostNL said its universal postal service is loss- making as a result of the large volume declines, while it continues to meet its obligation to guarantee mail delivery within 24 hours and maintain networks of 2,000 post offices and 15,000 mailboxes.
    [Show full text]
  • Logistics System and Process in Express Delivery Service Companies
    LOGISTICS SYSTEM AND PROCESS IN EXPRESS DELIVERY SERVICE COMPANIES Hanzheng Zhu Bachelor’s Thesis May, 2010 Degree Programme in Logistics Engineering Technology, Communication and Transport DESCRIPTION Author(s) Type of publication Date Bachelor´s Thesis 25/05/2010 Zhu Hanzheng Pages Language 53+7 English Confidential Permission for web ( ) Until publication ( X ) Title LOGISTICS SYSTEM AND PROCESS IN EXPRESS DELIVERY SERVICE COMPANIES Degree Programme Degree Programme in Logistics Engineering Tutor(s) Salmijärvi Olli Assigned by Xi’an Express Mail Service Logistics Company of China Post Abstract Express delivery services (EDS), as a young industry, are currently experiencing a rapid growth to fulfill the increasing demand. With the aims of being fast, safe, controllable and traceable, EDS companies have developed a quite different logistics network and systems in their logistics process. The purpose of this study was to describe EDS network models, like the spoke-hub paradigm, as well as the way of EDS processing. It was also studied how much of advanced and automated technologies and methods, like geographical information system, are used for optimizing the network, accelerating the delivery speed and improving services. The whole logistics chain of EDS was to be presented in this thesis. Express Mail Service (EMS), a large Chinese express delivery corporation, plays an important role in this market. Its significant part, EMS of China Post corporation, is now experiencing hard competition. This thesis went deeper inside the Chinese EMS company and found reasons that have led to competitive advantages and weaknesses through using the SWOT analysis. The research material included a lot of information and data from EMS company and its market and from the author’s internship experience.
    [Show full text]
  • Allocation of Postal Circle to Candidates Recommended by SSC
    No. W-04-7/2018-SPB-I Govemment of India Ministry of Communications Department of Posts Dak Bhawan, Sansad Marg New Delhi, dated 11.06.2018 Subject:-Allocation of Postal Circle to candidates recommended by SSC for appointment as Postal Assistant / Sorting Assistant on the basis of Combined Higher Secondary Level Examination, 2016. Attention is invited to Department of Posts letter No. W-04-712017-SPB-I dated 07.03.2018 read with letter dated 14.05.2018 wherein candidates recommended by Staff Selection Commission (SSC), on the basis of Combined Higher Secondary Level (CHSL) Examination,2016, for appointment as Postal Assistant / Sorting Assistant, were advised to submit their preference / option for allocation of Postal Circles by email and Speed Post / Register Post. 2. Although SSC has recommended 3295 candidates for appointment as Postal Assistant / Sorting Assistant on the basis of CHSL Examination,2016; SSC has confirmed nomination of 3215 candidates and their dossiers have been received till date. Postal Circles have been allocated to all 3295 cmdidates, as per the criteria stipulated in aforesaid letter dated 07.03.2018, irrespective of the status of receipt of dossiers in Department of Posts. All those candidates whose dossiers are yet to be forwarded by the SSC, their candidature shall be subject to confirmation of nomination / forwarding of dossiers by SSC and they shall have no claim over the appointment to the said posts in the Department of Posts. Consequently, in case of candidates whose nominations are yet to be confirmed / dossiers are yet to be forwarded by SSC, the appointing authority shall not issue offer of appointment till confirmation of nomination by SSC and receipt of dossiers by Department of Posts.
    [Show full text]
  • Government Response to Self-Determination Movements: a Case Study Comparison in India
    GOVERNMENT RESPONSE TO SELF-DETERMINATION MOVEMENTS: A CASE STUDY COMPARISON IN INDIA By Pritha Hariharan Submitted to the graduate degree program in MA Global and International Studies and the Graduate Faculty of the University of Kansas in partial fulfillment of the requirements for the degree of Master of Arts. ________________________________ Chairperson: John James Kennedy ________________________________ Committee Member: MichaelWuthrich ________________________________ Committee Member: Eric Hanley Date Defended: November 18th 2014 The Thesis Committee for Pritha Hariharan certifies that this is the approved version of the following thesis: GOVERNMENT RESPONSE TO SELF-DETERMINATION MOVEMENTS: A CASE STUDY COMPARISON IN INDIA ________________________________ Chairperson: John James Kennedy Date approved: November 18th 2014 ii Abstract The Indian government’s response to multiple separatist and self-determination movements the nation has encountered in its sixty-six year history has ranged from violent repression to complete or partial accommodation of demands. My research question asks whether the central government of India’s response to self-determination demands varies based on the type of demand or type of group. The importance of this topic stems from the geopolitical significance of India as an economic giant; as the largest and fastest growing economy in the subcontinent, the stability of India as a federal republic is crucial to the overall strength of the region. While the dispute between India and Pakistan in the state of Kashmir gets international attention, other movements that are associated with multiple fatalities and human rights abuses are largely ignored. I conduct a comparative case study analysis comparing one movement each in the states of Tamil Nadu, Punjab, Assam, Kashmir, and Mizoram; each with a diverse set of demands and where agitation has lasted more than five years.
    [Show full text]
  • Eurogiro News  Eurogiro News
    Eurogiro News Eurogiro News THE INTERNATIONAL ELECTRONIC PAYMENT CO-OPERATION Eurogiro will be a CSM in SEPA Contents l August 2007 On 24th May the Eurogiro Bank Working Group and the Eurogiro Operational 1 Eurogiro will be a CSM in Performance Group, together with the Eurogiro Company, held a well attended SEPA workshop on SEPA in Frankfurt, Germany 3 ANZ National Bank Limited The workshop focused on two streams: Business eventually be members or partners of Eurogiro. (ANZNB) is New Zealand’s and IT/Operational – and were based on inspiring Of equal importance was the statement that first member of the Eurogiro presentations given by representatives from Eurogiro – via the SWIFT Closed User Group Deutsche Postbank, Swiss PostFinance, ING connection – was offering a very competitive Network Bank (Netherlands) and Alliance and Leicester solution for SEPA transfers. In essence, the charge Commercial Bank plc (UK). The exchange of for transactions will be very low, charging only Eurogiro and HayPost sign a views and open discussions – were lively and the SWIFT network cost plus a minimum fee. membership agreement very beneficial for all parties, and it was evident that the SEPA issue is high on everybody’s Eurogiro will produce a directory that will be 4 Wolfgang Klein new Head of agenda this year. embedded in the ELS/ESM advising as to Deutsche Postbank whether a member is SEPA compliant or not, The Eurogiro Company advised that Eurogiro had and rejects will be allowed if the receiver is not 5 Eurogiro is gearing up for registered with EPC (European Payment Council) registered as SEPA compliant.
    [Show full text]
  • Government of India, Ministry of Communications & IT, Department
    Government of India, Ministry of Communications & IT, Department of Posts, Dak Bhawan, Sansad Marg, New Delhi – 110116 Department of Posts has set up Investment Division in Mumbai under the Postal Life Insurance Directorate of the Department for investment of the Post Office Life Insurance Fund (POLIF) and Rural Post Office Life Insurance Fund (RPOLIF). Applications in the prescribed format from eligible candidates are invited for one ex‐cadre post of Chief Investment Officer (HAG level) in the Investment Division to be filled on deputation (ISTC) or contract or absorption from the officers of the Central or State Governments or Union Territories or Universities or recognized research institutions or Public Sectors Undertakings or semi‐governments or statutory or autonomous organizations including banking institutions or financial institutions. Applications in the prescribed format (Annex ‘B’) alongwith copies of all testimonials/ certificates should reach the office of Deputy Director General (Personnel), Department of Posts, Dak Bhawan, Sansad Marg, New Delhi ‐ 110116 within 30 days of publication of this advertisement in the Employment News. No application will be entertained after prescribed time of 30 days. This advertisement can also be viewed on the website of INDIA POST http://www.indiapost.gov.in. The particulars regarding name of the post, remuneration, required qualification, job description are given in Annexure ‘A’. Annexure ‘A’ Sl. Name of Number of Age Limit Pay Band Required qualifications and Job No. Post Post and Grade experience description Pay or Pay Scale 1. Chief One Not HAG Rs. (A) CIO would be Investment applicable 67000‐ i. Holding analogous post on responsible Officer 79000 regular basis in the parent for taking cadre or department; or day‐to‐day ii.
    [Show full text]