Incentive to the staff performing International Money Transfer Service (IMTS) transactions in the Post Offices

F. No. 95-28/2012-FS

Government of India

Ministry of Communication & IT

Department of Posts

(F.S. Division)

Dak Bhawan, New Delhi

Dated: 24 -12-2014

The Department has been offering International Money Transfer Service (IMTS) in association with Western Union (since 2001) and with Money Gram (since 2011). After attaining peak in 2008-09, the revenue from the IMTS is continuously declining and a steep fall has been noticed this year. There has been decrease of 36.54% this year up to November, 2014 when compared with the revenue up to November, 2013.

2. At present, the IMTS service is available in 9943 Post Offices, however, only 5589 Post Offices are doing IMTS transactions. That means 4346 locations are still dormant. This needs to be addressed. India is the largest recipient of remittances all over the world and the remittance business has continuously seen a positive growth in India. The revenue share of our partners is also continuously growing whereas the revenue share of Department of Posts is not only decreasing but has seen steep fall.

3. To stop this declining trend in IMTS business and to regain our share of revenue we need to motivate staff. The Competent Authority has decided that an incentive of Rs 25/- per transaction shall be given to the staff engaged in doing IMTS transactions, in addition to the work assigned to them as per the Distribution of Work (DoW) Memo. This incentive shall be given for doing the transactions of both, WUMT as well as of Money Gram. This incentive is being given on experimental basis till 31St March, 2015. The growth in business shall be reviewed fortnightly in the Directorate. The matter shall be taken up for further extension of the incentive only if a considerable growth in the revenue is observed. The eligibility of incentive shall be with prospective effect.

4. The customer care will remain of paramount importance for providing this service. The customer of this service will continue to be the MOST FAVORED CUSTOMER and shall be treated courteously. However, any expenditure, if incurred to offer tea/coffee/cold drinks etc. to the customer or any other expenditure in this regard will have to be managed out of this incentive. No other incentive / expenditure shall be admissible for providing this service and or for entertaining customers except than what has been provided for in para ’3’ above.

5. The matter has been taken up with Postal Finance & Accounts (PAF) wing for allotment of a relevant head in which this incentive shall be charged and the same shall be conveyed subsequently.

This issues with the concurrence of JS&FA and approval of Secretary (Posts).

sd/-

(Nirmal Singh)

Director (FS)