Business

The Dept of Posts (DoP), has entered into a unique marketing tie-up with TVS Finance and Services Ltd (TVSFS), a company in the TVS Group. The arrangement envisages the DoP selling loan products in its capacity as franchisee of TVSFS.

TVSFS is a leading player in the retail finance market with a basket of products comprising loans for purchase of TVS two-wheelers, consumer durables, personal computers and a recent foray into micro finance. The company has a strong presence in many districts of south India, Rajasthan, Western UP and Uttaranchal. It has a large customer base and successfully cross-sells various products to its existing customers.

Sweat out at Chennai’s gyms Ragu Kavacham Where the sun worships Perumal Dhanush-Shriya Come Together Again இளையராஜாவின் திடீர் விசிட் ஜீவனின் தொடரும் சென்ட்டிமென்ட் சர்வத்தில் சர்க்கஸ்

The Department of Posts, Tamil Nadu, with 11,200 post offices in the state, offers unmatched geographical coverage. The DoP also has around 12,000 postmen, most of whom would be involved in selling TVS Finance’s loan products. This arrangement would be an extension of a existing successful business relationship between the DoP, Tamil Nadu, and TVS Finance.

The DoP, with its network of post offices, is best suited to sell the products of TVSFS, whose business is focused on the rural and semi-urban markets, said Vatsala Raghu, Member, O & M, Postal Services.

The DoP, through its postmen, will reach out to customers in the rural and semi-urban areas to bring them 'loans at their doorstep'. This service is branded as 'Postman Akshaya'.

Vatsala Raghu said, "We are happy to be associated with TVS Finance for this truly unique relationship. The DoP offers unparalleled reach and geographical coverage and we are confident of making this a path-breaking initiative, positively impacting the revenues of the Department of Posts."

Radhika Doraiswamy, chief postmaster general, added, "We already have an existing relationship with TVS Finance and our systems and people are geared to implement this initiative successfully."

V Ramesh, president, TVS Finance and Services, said, "We have enjoyed a great working relationship with the DoP and our business has leveraged their vast geographical coverage to synergise with our operations in every district and taluk in Tamil Nadu. We believe that this tie-up will boost the revenues of both organisations significantly."

The franchisee initiative is being launched in Madurai and Tirunelveli districts on August 21. The initiative will be scaled up from October to cover all districts in the state, Ramesh added.