Ref:IPPB/CSMO/2021-22/62 Date: 30.11.2021
A. Introduction & Background
Introduction
Post office savings account popularly known by the acronym “POSA” amidst the masses has been one of the Flagship products from the Department of Post. POSA, administered by the Ministry of Finance, Govt. of India, has spanned over the ages and the current POSA numbers are believed to be over 10-Crore+ Active accounts and out of which we have a low hanging target customer base of 1.85-CROREs+ where the POSA accounts are “SINGLY Operated/ Mobile number seeded”.
Benefits of
plugging into the POSA base with the IPPB accounts cannot be exaggerated enough
as the confluence of both these accounts offer a plethora of benefits to all
the stakeholders per below:
BENEFITS to
the customer : No more trips to the
local Post Offices, Reduced queue time, faster reconciliation of transaction
entries, On-tap access to POSA account funds
BENEFITS to
the Counter EUs : Free from
serpentine like POSA customers in queue, more time to focus on other In-house
products like LI/ Philately/ IPPB Products/ Financial Products
BENEFITS for
DoP & IPPB : Reduced paper-work,
less crowd in the counter offices, increased efficiency of the office staff,
reduction in Cost Handling related charges, Cash Handling costs
Since the launch of the bank, the total POSA linked IPPB accounts are hovering near the 25-Lac mark which is a very small considering the vast opportunity lying out there for the takers. Even the Regulatory dispensation has been pleased to offer a special convenience to the bank (unlike to the other Payment Banks in the industry) to have Sweep I/O facility b/w the bank Savings account and the POSA accounts.
Past-precedence on the POSA-IPPB account linkage activity
Bank has from
time and again emphasized upon the importance to be given on any Customer
Acquisition activity to be necessarily linked with their respective POSA
accounts. Few of the precedence where the bank has clearly outlaid the
importance of POSA-IPPB linkage is per the below:
ü Annual
Business target setting
ü KBB aka “Kaun
Banega Bahubali” sales campaign conducted during the 1st half of 2019
ü Periodic Acquisition MAHA-Login camps where disproportionate higher weightages are assigned for POSA linkage
Need for renewed pitch on the POSA-IPPB linkage
Though the past and current thrust on the POSA-IPPB linkage has yielded wide spread appreciation of benefits, enthusiastic end users but the results have been largely on tepid lines. Amongst the larger goal of the “FINANCIAL Inclusion” mandate of the Government of India, the ability to be able to successfully serve the larger 10-Crore+ populace of the DoP ecosystem is one very important pivot where any focused approach is destined to yield fruitful results to all.
Above all
POSA linked IPPB accounts are having high average CASA Balance & more than
90% Accounts are transacting. The most important segment however performance in
the table needs improvement
POSB Linked IPPB Account ( POSA Campaign)
B. R&R for End Users & Post-Masters (SO & HO postal office)
R&R construct:
Commensurate to the envisaged scaling up in POSA
linked IPPB acquisition business, attractive rewards and commendation construct
is proposed per the below tabulated data for all the performers
(Counter End Users/ SPMs & HPMs)
where “White goods and others of
similar nature” will be doled out to rightfully appreciate the
performance.
R&R construct for the Counter End Users
(SOC & HOC):
ü The contest is
targeted only for the COUNTER PA (postal assistants) End Users Activation
ü All the contest
related R&R at the level of end users is only for the Counter PA End Users
only
R&R construct for the Post Masters:
ü Minimum 1000/ 500 POSB linked IPPB accounts acquisition during the
contest period for HPM and SPM respectively for qualifying for the R&R
ü The performance of HPM/ SPM will include the performances of all
their constituent end users tagged compulsorily to their respective SO/ HO
FACILITY ID only (including even the Postman/ GDS/ BPM)
ü ## MDG (Mukhya Dak Ghar) Post Master targets will be akin to the HPMs
ü Those Post Masters who upgrade for the “A” Category Leadership Club will be eligible for the award in the “B” Category as per the merit list in case he/she does not qualify for the A category award.
“Post Master
POSB-IPPB Link CHAMPIONs”
Campaign Objective
To provide a
much needed fillip to the current run-rate which is languishing on the 15k per
monthly range for the year (POSA linkage data per the table appended below).
We are looking at transcending the going rate into the 6 Lac+ POSA linked IPPB accounts month on month basis.
As at Oct, 21
end the 23-Lacs+ POSA IPPB accounts contributed to a neat 22%+ CASA balances*
which is highly disproportionate as the POSA accounts comprise only a miniscule
5% of total CASA base.
(*Rs. 671-crore+ accounts balances in 23-Lacs+ POSA linked IPPB
accounts)
·
100% ACTIVATION of all the HO & SO DoP Postal
Offices where there is a stronghold and concentration of POSA accounts universe
· Warm-up the whole Counter EU distribution team to the gamut of advantages resulting from the POSA linked IPPB accounts acquisition
Target construct
·
Per the Sep-2021 end data, there
are a total 1.36-Lac+ LIVE Postal access points operating as IPPB BC across the
country landscape.
·
The POSA accounts universe of
10-Crore+ is largely aggregated at the HO/ SO levels and hence the logic to run
the proposed campaign specifically targeting the HO/ SO postal offices which is
23,001 per the latest LIVE AP list (22,195 Sub-Post offices
& 806 Head-Post offices)
· The End Users data under the HO/ SO postal offices under the “A” status in AMS records of Sep-2021 end is 13,480 (1695 EUs in HO & 11785 EUs in SO) which doesn’t project the rightful picture in terms of the actual on-field staff engaged in the IPPB banking services
· Each HO & MDGs (Mukhya Dak Ghar who are larger in size as compared to other SOs and comparable to Hos) will be expected to do per month linkage business of at-least 75 POSA linked IPPB accounts (Avg. 3-accounts per day) while for the SOs the commensurate calendar monthly target will be 25 POSA linked IPPB accounts (Avg. 1-accounts per day).
·
Targets for the Divisional/ Regional/ IPPB Branch/ Circle
levels will flow upwards in proportion to their LIVE Access Points
constitution.
·
Per end user level targets:
i)
Per-se most of our Sub-Post offices are single manned and the Head-Post &
MDG (Mukhya Dak Ghar) offices are generally having more than
3 counter staff in a position to be able to provide all forms of IPPB product
services to the customers.
ii)
Per the aforementioned rationale guidance, in a SO as well as in a HO and
per month basis each staff will be shouldered with the campaign target of
sourcing 25 POSA linked IPPB accounts.
iii) Hence per counter end user per office will be having a POSA linked IPPB accounts acquisition calendar monthly target of 25
·
Aggregate
Targets during the campaign period:
(1)
HO/ SO
offices ACTIVATION : 100%
(2)
POSA
linked IPPB accounts : 60,450 (75
accounts per 806 HO locations) &
: 5,54,875 (25 accounts per 22,195 SO locations)
·
1st December 2021 to 31st March 2022 (4 Months-both
dates inclusive).
D. R&R for Circles, Regions,
Divisions and IPPB Branches
|
Category |
Reward
& Recognition |
Minimum
Qualification (POSB
linked IPPB Accounts) |
|
Top three CPMsG ( % ) |
Appreciation certificate & Trophy from
Secretary Post |
50,000 |
|
Top three CPMsG ( Absolute Numbers) |
Appreciation certificate & Trophy from
Secretary Post |
50,000 |
|
Top five PMGs ( % ) |
Appreciation certificates & Trophy from Member
Banking |
20,000 |
|
Top five PMGs ( Absolute Numbers) |
Appreciation certificates & Trophy from Member
Banking |
20,000 |
|
Top 25 Divisional Heads ( % ) |
Appreciation certificates & Trophy from CPMGs |
5,000 |
|
Top 25 Divisions ( Absolute Numbers) |
Appreciation certificates & Trophy from CPMGs |
5,000 |
|
Top 3 IPPB Circle Heads ( % ) |
Appreciation certificate & Trophy from MD
& CEO, IPPB |
50,000 |
|
Top 3 IPPB Circle Heads ( Absolute Numbers) |
Appreciation certificate & Trophy from MD
& CEO, IPPB |
50,000 |
|
Top 25 IPPB Branch Heads ( % ) |
Appreciation certificates & Trophy from CSMO,
IPPB |
2,000 |
|
Top 25 IPPB Branch Heads ( Absolute Numbers) |
Appreciation certificates & Trophy from CSMO,
IPPB |
2,000 |
E. Execution Enablers
·
Infrastructure
readiness-
Ø MATM devices
shall be made available at all the HO/ SOs for Counter Pas
Ø Minimum 1 in SO
& 3 in HO, active agent IDs need to be created.
Ø Ensuring
attaching leaflets/Pamphlets with all DOP accounts Pass Books.
Ø Training of
counter staff for POSA linkages and benefits to customers for online IPPB
Access.
Ø Communication of
the campaign to all the HO & SOs with in first week of rollout.
Ø Handholding of
the counter end users by the IPPB field teams all around
1. All 650 IPPB
branch & officials from the IPPB Corporate Office will be tasked to visit a
certain number of HOs within the 1st 2 weeks and thereon cover all
the SOs in a phase wise manner.
2. The intent will
be to spread and educate the Counter end users fraternity regarding the
360-degree benefits which will accrue to all the stakeholders: postal offices/
end users/ customers
3. The IPPB staff
will dedicate their energies towards smooth QUEUQ-management in the HO/ SO post
offices
4. Push messaging by
SMS/ WhatsApp to the Counter End Users Mobile device educating and sensitizing
them on the ongoing POSA linkage campaign and its benefits for them per-se.
5. HOC/ SOC end
users WhatsApp groups to be created by IPPB Branch staff.
Ø Marketing &
Blow-HORN piece:
1. Attractive
Brochures/ Standees/ Danglers will be designed and placed at all the HO/ SOs
2. An attractive
marketing piece on the POSA-linked IPPB account benefits will be hosted on the
DoP & IPPB webpage
3. A POSA-linked
account benefit related CALLER-TUNE will be set on all the IPPB customer care
numbers
4. Default
acknowledgement of emails to the IPPB customer care email id will be responded
with a beautiful marketing theme on the POSA-linked IPPB account benefits
5. SMS/ WhatsApp to
be sent to HPM/ SPM/ HOC/ SOC
·
Product USPs
Ø BENEFITS to the customer : No more trips to the local Post
Offices, Reduced queue time, faster reconciliation of transaction entries,
On-tap access to POSA account funds
Ø BENEFITS to the Counter EUs : Free from serpentine like POSA customers
in queue, more time to focus on other In-house products
Ø BENEFITS for DoP & IPPB : Reduced paper-work, less crowd in the counter offices, increased efficiency of the office staff, reduction in Cost Handling related charges
Important Terms & conditions:
Ø The contest, contest’s time period,
contest’s terms & conditions and anything related to contest can be altered,
cancelled and new conditions can be added at any time during, before or after
the contest as per discretion of management of IPPB.
Ø In case of any dispute the decision of
IPPB corporate office management will be deemed as final and binding, no
further queries will be entertained.
Ø The Management will not entertain any foul play or gaming or system/process duping during the contest. Any end user or any stakeholder/supervisor doing so will be instantly disqualified from the contest.
Ø The aforementioned point will also
include foul play where if the end user De-Links and again Re-links POSA/ IPPB
accounts then the said end user will be summarily disqualified for any R&R.
Ø All the Stakeholders will be ranked and
regarded on the basis of their achievement score.
Ø Normal Incentive will be paid during
existing monthly cycles as per existing incentive disbursement process.
Ø Additional prizes applicable under R & R program will be distributed post completion of contest as per club qualification.
Sd/-
Gursharan Rai Bansal
CGM & CSMO
Cc: J Venkatramu, MD & CEO
Enclosures:
a)
Circle Level Targets for the 4-month POSA linkage IPPB Accounts
|
No. of Postal Offices HOs & SOs |
No. of "A" Status Counter End Users |
||||
|
CIRCLE |
HO |
SO |
POSA TARGET |
HOC |
SOC |
|
ANDHRA PRADESH |
57 |
1467 |
163800 |
309 |
1046 |
|
ASSAM |
19 |
476 |
53300 |
60 |
236 |
|
BIHAR |
33 |
731 |
83000 |
84 |
345 |
|
CHHATTISGARH |
10 |
283 |
31300 |
4 |
59 |
|
DELHI |
12 |
367 |
40300 |
9 |
400 |
|
GUJARAT |
32 |
1161 |
125700 |
41 |
384 |
|
HARYANA |
16 |
481 |
52900 |
20 |
225 |
|
HIMACHAL PRADESH |
18 |
405 |
45900 |
7 |
101 |
|
JAMMU AND KASHMIR |
9 |
175 |
20200 |
19 |
150 |
|
JHARKHAND |
13 |
332 |
37100 |
29 |
137 |
|
KARNATAKA |
58 |
1641 |
181500 |
101 |
813 |
|
KERALA |
52 |
1450 |
160600 |
69 |
642 |
|
MADHYA PRADESH |
43 |
950 |
107900 |
100 |
482 |
|
MAHARASHTRA |
60 |
2086 |
226600 |
113 |
1628 |
|
NORTH EAST |
9 |
174 |
20100 |
9 |
80 |
|
ODISHA |
35 |
992 |
109700 |
82 |
306 |
|
PUNJAB |
22 |
736 |
80200 |
38 |
378 |
|
RAJASTHAN |
47 |
1186 |
132700 |
97 |
590 |
|
TAMIL NADU |
94 |
2423 |
270500 |
226 |
1532 |
|
TELANGANA |
35 |
738 |
84300 |
83 |
477 |
|
UTTAR PRADESH |
72 |
2230 |
244600 |
133 |
1477 |
|
UTTARAKHAND |
13 |
313 |
35200 |
19 |
147 |
|
WEST BENGAL |
47 |
1398 |
153900 |
43 |
150 |
|
TOTAL |
806 |
22195 |
2461300 |
1695 |
11785 |
