INDIAN RAILWAY TIES UP WITH INDIA POST ON BOOK NOW PAY LATER
RAILWAY TIES UP WITH INDIA POST ON BOOK NOW PAY LATER
SOUTH WESTERN RAILWAY TIES UP WITH INDIA POST ON BOOK NOW PAY LATER
South Western Railway has worked out a tie-up with INDIA POST for Pick up, Booking, Dispatch, Delivery of Cash Remittance Notes, Voucher, Warrants Covers from Door Step of Railway Stations through Speed Post on Book Now Pay later (BNPL).
Initially 159 and 146 Stations of Bengaluru and Mysuru Divisions will be covered. The MOU is signed between South Western Railway and Postal department of Karnataka on 24.11.2018. In next phase remaining stations of Bengaluru, Mysuru and Hubballi Division will be added. For entire South Western Railway the annual value of vouchers is around 100 Crores. This initiative is likely to be Reliable, Faster, and Economical with annual savings of Rs 30 Lakhs over current system.
Further it will facilitate concurrent Billing and Realization of outsider dues, timely accountal and also render more effective check by Commercial / Accounts office on Station Cash. This first of kind initiative will complement the cash pick up outsourcing through State Bank of India which is already functional.
This initiative is appreciated by Railway Board. The Railway Board has advised all Zonal Railways to implement the same in their zone.