 | « Back to article | Print this article |
The department of post launched on Wednesday a premium Speed Post service between Mumbai and New Delhi that promises delivery before noon next day.
"The new service would be offered at Rs 100 for first 200 gram article and we are assuring the delivery between noon and 1 pm next day," U Srinivasa Raghvan, secretary, DoP, told reporters.
The new services would start from Wednesday as a pilot project before extending it to cities of Kolkata, Chennai, Bangalore and Hyderabad, he said, adding the service would be available only for select areas within the city.
Announcing the new service, Raghavan said DoP's revenue from 20-year-old Speed Post has increased to Rs 408 crore (Rs in 4.08 billion) in 2005-06 and is expected to cross Rs 500 crore (Rs 5 billion) in the current financial year.
Asked about compensation for not delivering within specified time, Raghvan said: "We are sure of delivering the article before noon but in case we fail we shall pay back the money ourselves."
On the prices of normal Speed Post services, he said although there was no plan as such but indicated that the department may go for discount for customers giving bulk revenue.
He, however, did not give details about it.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group