Postal and Courier Services
NIOS · Class 10 · Business Studies
Quick revision notes for Postal and Courier Services — NIOS Class 10 Business Studies. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
Meaning and Nature of Postal Services
- Postal services include carrying letters and parcels, arranging remittance of money, accepting deposits, and offering insurance and other services.
- A post office acts as a middleman between the sender and the receiver.
- The postal service in India was used only for official mail until 1837.
Mail Services
- Mail service deals with collection, sorting, and distribution of letters, parcels, and packets.
- Indian postal service deals with inland and international mails.
- An inland mail is one where sender and receiver reside within the same country.
Remittance Services
- Remittance services help transfer money from one place to another.
- The post office provides money order and postal order facilities.
- Money order is an order issued by one post office to another post office to pay a certain sum of money only to the person named therein.
Banking and Savings Schemes
- Post offices accept deposits and allow withdrawals, so they also provide banking services.
- Post Office Savings Bank Account requires a minimum of Rs.50 to open.
- The maximum deposit in a savings account is Rs.1 lakh for an individual and Rs.2 lakh for a joint account.
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