India Post signs MoU with CAIT and Tripta Technologies
India Post has signed an MoU with Confederation of All India Traders (CAIT) and Tripta Technologies for logistics services.
An overview of the news
The MoU will benefit small and medium traders as they will be able to use India Post as a single logistics service provider across the country.
The partnership between India Post, CAIT and Tripta Technologies will provide shipping and last mile delivery services to CAIT's strong merchant base and small and medium business in the unorganized sector.
The MoU is a significant milestone in taking e-commerce to smaller towns and rural areas and is expected to benefit thousands of merchants.
India Post Payment Bank (IPPB)
It is a payment bank started by the Department of Posts under the Ministry of Communications, Government of India.
IPPB was launched as a pilot project on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh).
It was formally launched by Prime Minister Narendra Modi on 1 September 2018.
Headquarters of IPPB: New Delhi
Bank's Punchline: Apna Bank Aapke Dwaar
Managing Director & Chief Executive Officer: J Venkataramu
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