The Interest rates for Deposits is again lowered by 0.1% from 1st July 17

ஜூலை முதல் வட்டி விகிதம் மீண்டும் 0.1% குறைப்பு

Saturday, 23 January 2016

Pensioners accounts not to have more than 14 transactions in a Year

Pensioners accounts not to have more than 14 transactions in a Year

Reserve Bank Of India
January 21,2016
The Chairman & Managing Director/
The Chief Executive Officer
All Agency Banks

Dear Sir/Madam
Payment of Agency Commission on pension accounts

As you may be aware, agency banks are being compensated at Rs.65 per transaction for handling pension computation, payment and related services on behalf of Central and State Governments. As per the norms followed by the Government, a pensioner’s account should not have more than 14 credit transactions in a calendar year attributable to pension and related arrear payments, if any.

2. It has however come to our notice that certain banks are apportioning payment of arrears on account of Dearness Relief (DR) and/or delay in start of pension monthwise, thus, resulting in inflated agency commission claims. It is reiterated that number of commisionable transactions for payment of agency commission on account of pension in a year should not exceed 14. This includes one monthly credit for payment of net pension and a maximum of two per year for payment of arrears on account of increase in DR, if applicable.

3. It is also reiterated that cases involving payment of arrears on account of late start/restart of pension qualifies as a single transaction for claiming of agency commission. In other words, any payment of arrears on account of late start/restart of pension should be effected in a single credit transaction instead of separate monthly credits.

4. Some of the Central Government Departments and State Governments prefer to compute the pension figures on their own and pass them on to banks for payment. Such transactions may be included under non-pension payments, on which agency commission is payable on a turnover basis as per the existing norms (currently at 5.5 paise per Rs. 100/-).
Yours faithfully
(Manish Parashar)
Deputy General Manager
source : CLICK HERE

Friday, 22 January 2016

The CPC recommendations were the biggest headache for ministry - Minister of State for Finance Jayant Sinha.

Government is planning to defer the implementation of the 7th Pay Commission award.

With a massive financial resource crunch estimated for 2016-17, the government is planning to defer the implementation of the 7th Pay Commission award.Last week, the Union Cabinet approved the formation of an empowered committee of secretaries to work out ways for staggering the award through more than one financial year, instead of letting the Rs 1,02,100-crore bill from the implementation of the award come up at one go.A top-ranked official said one of the options for the empowered committee was to defer the increase in allowances for central government employees, while letting the rise in pay for all scales to go through. According to finance ministry figures, the ratio of allowances to pay for these 4.7 million employees is 1:1.4. For instance, the Budget estimates in 2015-16 pegged the salary bill for all central government employees at Rs 60,731 crore, whereas the tab for allowances is Rs 84,437.4 crore.The step would allow Finance Minister Arun Jaitley to keep the Budget numbers for this financial year and the next close to the targeted 3.9 per cent and 3.5 per cent of gross domestic product (GDP) that he has committed himself to. For instance, even if the annual expenditure for 2016-17 were kept at about Rs 18 lakh crore (almost unchanged from Rs 17,77,477 crore in 2015-16), the Pay Commission recommendations would add another 5.5 per cent to it.Given the sluggish pace of GDP growth and the almost negative deflator, the aggregate Budget numbers would otherwise be impossible to sustain on the back of the current trend in growth of tax receipts - just 50 per cent of the Budget estimates after the first eight months of the year, according to Controller General of Accounts data. The assumptions being worked on in North Block are that these might not change dramatically in the next financial year, too.The announcement of a deferral is expected to be part of Jaitley's Budget speech on February 29. The formation of an empowered committee for the pay panel recommendations, again a first for the central government, is meant to bring all stakeholders on board in the exercise.The official explained ministry-wise consultations with the department of expenditure in the finance ministry, in the run up to the Budget, were mostly over. Those discussions had proceeded on the assumptions that the Pay Commission recommendations would be implemented. It was now necessary to bring the secretaries of key departments on board about the need for a drastic cut-back on those estimates.The status quo on allowances would also allow the government to ignore the demand made by various staff associations to raise the minimum level of salary for employees. The Pay Commission has suggested that the minimum should be Rs 18,000 per month; the unions have demanded that it should be raised to a band of Rs 19,000 to Rs 21,000 a month. Such a change would have created a ripple effect. About 70 per cent of the government employees are bunched in the non-executive ranks; the starting salary for them tops about Rs 42,000 a month, show calculations by the Commission. Even a modest increase in pay for them would cascade the bill for the government by another Rs 50,000 crore annually. The award of the Commission is slated to take effect from January 1 this year. A key element in the plan to defer some elements of the 7th Pay Commission recommendations will be the railway ministry. Government managers reckon the powerful unions of the Indian Railways need to be brought on board for this plan to be successful. The higher wage bill for the Suresh Prabhu-led ministry works out to Rs 28,450 crore a year, only a shade less than the yearly loss it makes on its passenger services at present. No formal communications have been sent out to the railway unions by the committee. "It will follow once the empowered committee has decided to take a call on which allowances to clip," said the official. In a recent television interview, Minister of State for Finance Jayant Sinha had said the Pay Commission recommendations were the biggest headache for his ministry, struggling to keep the grate expenditure of the Union government under control.    
Kerala Cabinet approves 10th pay commission proposals

Kerala Chief Minister Oommen Chandy said that the revised pay scales will be implemented from February 1 with retrospective effect from July 1, 2014.

The revision will be accompanied by a hike in dearness allowance of three per cent from January 1, 2015, and six per cent from July 1, 2015, thereby clearing all DA arrears to date. 

 The pay and pension arrears will be distributed in four half-yearly installments from April 1, 2017, and will carry the same interest as provident fund deposits

3rd Day Mass Dharna at Chennai

FNPO Participated in NJCA Dharna Program @ Chief PMG Office  Campus, Tamil Nadu Circle, Chennai 600 002 on 21.01.2016
 3வது நாள் தர்ணா - FNPO சார்பாக சென்னையில் நடந்த ஆர்ப்பாட்டம் 

FNPO Participated in NJCA Dharna programe 
Shri. O.P.Khanna, GS AIPAOA, 
Shri. Jagdhish Sharma Asst Secy Finance, FNPO,
Shri. V K Mathur Dy GS NUPE P-IV, 
Shri. Devendrakumar CS NUR-C, 
Shri. Omprakash CS NUPE PIV Delhi Circle 
& OTHERS Participated in NJCA Dharna program at Jantar Mantar.

Wednesday, 20 January 2016

வள்ளியூரில் நடந்த சமத்துவ பொங்கல் கொண்டாட்டம்.

நமது தேசிய சங்க நெல்லை கோட்ட துணை தலைவரும் வள்ளியூர் அஞ்சலக அதிகாரியுமான திரு.S.வெங்கடேஸ்வரன் அவர்கள் தலைமையில்    வள்ளியூரில் சமத்துவ பொங்கல் விழா கொண்டாடப்பட்டது. அதில் வள்ளியூர் உபகோட்ட அதிகாரி திருமதி.மேனகா அவர்களும்அனைத்து தோழர்  தோழியர்களும்  மற்றும் பொதுமக்களும் கலந்து கொண்டனர்.
Shri.S.Venkateswaran, Postmaster Gr II, Vallioor

Shri.S.Venkateswaran, Smt.Menaga IP and others

Mass Dharna at Chennai, Tamil Nadu Circle

 Mass Dharna at Chennai, Tamil Nadu Circle
 Secretary General Shri.D.Thiyagarajan,
Mass Dharna at Bihar Circle

Tuesday, 19 January 2016


                  நெல்லை கோட்ட தேசிய சங்கத்தின் முன்னாள் பொருளாளரும் தற்போதைய விருதுநகர் கோட்ட தலைவருமான திரு. ஐயங்கன்னு அவர்களின் தாயார் திருமதி திருமலையாட்சி அம்மாள் (வயது 80) அவர்கள் இன்று நண்பகல் 1100 மணிக்கு காலமானார் என்பதை வருத்தத்துடன் தெரிவித்து கொள்கிறோம்.   அன்னாரது ஆத்மா சாந்தியடைய இறையருள் வேண்டுகிறோம். அன்னாரின் இறுதிசடங்கு அவர்களின் சொந்த ஊரான நெல்லை மாவட்டம் சுரண்டை அருகில்  உள்ள அருணாச்சலபுரம் என்ற கிராமத்தில் 20.01.2016 இன்று நடைபெறும்.
                 அவரது பிரிவால் வாடும் அவர்தம் குடும்பத்தினருக்கு எமது தேசிய சங்கத்தின் ஆழ்ந்த அனுதாபங்கள்.

3 days Mass Dharna throughout the nation.

Federation request to conduct three days Mass Dharna at all work places throughout the nation on 19th to 21st January 2016 on the call of NJCA.
Departments instruction on 3 days Dharna programme from 19th to 21st January,2016 of NJCA

Unions demand hike in I-T exemption ceiling to Rs 5 lakh

Finance Minister assures trade unions that govt will not go for privatising Railways and Coal India

Finance Minister Arun Jaitley on Saturday expressed concern over the declining job growth between 2004-05 and 2011-12 — roughly the period of United Progressive Alliance governments compared to the period between 1999-00 to 2004-05, coinciding with the previous National Democratic Alliance regime — and assured trade unions of government’s commitment to generate more employment opportunities for the common man.

Interacting with representatives of trade unions for pre-Budget interactions, Jaitley said a cause for concern is that the compound annual growth rate of employment decelerated during 2004-05 to 2011-12 to 0.5 per cent, as compared to the 2.8 per cent growth during 1999-2000 to 2004-05.

He also assured the trade unions of not going for privatising the Railways and Coal India. Jaitley said the government aims at safeguarding the existing jobs and give better environment to the common man.  The finance minister said that’s why more money is needed for investment in infrastructure to create more job opportunities for the youth.

He said the government wants to create better social security system for the labour force working both in organised and unorganised sectors.  Highlighting the major initiatives of his government in labour sector, he also informed the trade unions that states such as Rajasthan have also introduced major reforms in three labour legislations — the Industrial Disputes Act, the and the Contract Labour  Act. Trade union leaders demanded an increase in exemption ceiling for salaried class to Rs 5 lakh in the upcoming Budget.

The income tax exemption ceiling at present is Rs 2.5 lakh.

They also demanded that disinvestment in profit-making public sector units be stopped forthwith and budgetary support should be given for revival of potentially viable sick CPSUs.

Representatives of 11 trade unions also opposed foreign direct investment in crucial sectors like defence production.

They also asked the government to take effective measures to contain inflation. A ban on forward trading in commodities and rationlisation of tax/cess/duty on petroleum products were some their other demands.

"We also expressed our serious concern and dismay over the manner the government has been pushing various major economic policy related decisions through promulgation of Ordinances. In particular, we opposed the Ordinance on the coal, insurance sectors and Land Acquisition Act...we demand all such Ordinances should be withdrawn forthwith," All-India Trade Union Congress (AITUC) Secretary D L Sachdev told reporters after the meeting.

A joint statement by the 11 unions said: "Concrete steps must be taken to recover huge accumulated unpaid arrears, which have already crossed Rs 5 lakh crore on direct and corporate tax accounts alone."

The trade unions also suggested that the scope of the MGNREGA be expanded to agriculture operations and urban areas.

They also said special investigation team constituted for unearthing black money must deliver visible result, which is yet to be seen.

Representatives from the Centre for Indian Trade Unions, Bharatiya Mazdoor Sangh
, Indian National Trade Union Congress and AITUC attended the meeting.

Painful Reality Behind India Post COD Services

Thousands of products from e-commerce companies such as Amazon, Snapdeal, Flipkart, HomeShop18, Shopclues, Naptol and Yepme are reaching the remotest corners of India everyday, owing to their last-mile partnership with India Post, the government-operated postal network. On its part, India Post transacted business worth Rs 500 crore in cash-on-delivery alone for e-commerce players in 2014-15. Its revenue from this business rose from Rs 20 crore in 2012-13 to Rs 100 crore in 2013-14. But that’s just one side of the story.
To reach as many customers as possible at the fastest pace, even if it means getting drones to do the job, online retailers are learnt to be coping with the infrastructure hurdles of India Post. In fact, many leading companies are said to be directly in touch with Union minister of communications, Ravi Shankar Prasad, as well as senior bureaucrats in the ministry, to resolve last-mile issues.

While e-commerce companies tied up with India Post to reach India’s interiors and access pin codes that no courier company could, this has helped them only in a limited manner. On bicycles, India Post delivery men hardly match courier boys on motorbikes, who are faster and are also able to carry heavier parcels. Some postmen have to walk on rough terrains to reach distant addresses with parcels containing anything from mobile phones and apparel to fancy accessories and kitchenware.
A senior Snapdeal executive told, “As most of the India Post team uses bicycles, we have ensured products weighing less than five kg are routed through them for delivery.” Against that, a courier delivery boy often carries parcels 10 times the size, according to industry sources. An Amazon spokesperson said, “We appreciate and understand that the last-mile delivery methodology of India Post is mostly on bicycles and we are in discussions with India Post to come up with a solution/delivery methodology for large-sized Amazon packages.”
Flipkart did not respond to a questionnaire on the issue.
An official at India Post said the department was gearing up for the challenges and infrastructure was being upgraded. The department has already generated substantial revenue from its tie-up with e-commerce companies. While there’s no word yet on replacing bicycles with motorbikes and on whether the current India Post delivery staff, typically much older than those employed by private courier companies, are ready for the change, the official said logistics could be outsourced to a third party for delivery of goods, depending on volume.
Currently, the slow mode of sending parcels via India Post to pin codes unheard of is upsetting the sales targets of top e-commerce companies, for which every missed delivery could translate into a lower GMV (gross merchandise volume) and valuation. Also, it could mean missing the next round of funding from a marquee investor.
There are other issues, too. For instance, a Bengaluru-based online retailer-cum-stylist had partnered India Post in 2013. However, according to its co-founder, the two-year-old company had to discontinue the arrangement after it was found postmen were seeking money from customers for deliveries to remote areas such those in the Northeast. “Such incidents are serious enough to malign the reputation of a company,” he said.
Another challenge is the India Post delivery team doesn’t get any volume-based incentive because it’s a government organisation.
On the other hand, private courier companies were often enthused by such offers, an official said.
The fact that 70-80 per cent of orders for companies such as Flipkart and Snapdeal are from non-metro areas shows how critical it is for them to compete in the remotest parts of India. Amazon, for example, took pride in saying it had delivered a parcel to pin code 790002 — a destination called Balemu in Arunachal Pradesh’s West Kameng district.
The dark side of the e-commerce revolution is equally real. A recent Wall Street Journal report had highlighted the plight of courier boys carrying parcels weighing 23-46 kg in large backpacks day after day, all for a monthly salary of less than Rs 10,000. “This low-tech army of urban sherpas hauls bags of online purchases down narrow alleys and up flights of stairs, lugging everything from laser printers and kitchen appliances to cans of Coca-Cola for their country’s burgeoning consumer class,” the report had said.
Source: The Business Standard

Know about Rural ICT for GDS in India Post

Launch of the Rural ICT project of the Department by handing over the solar powered, biometric hand-held devices with connectivity along with the application software to Gramin Dak Sewaks from three pilot Circles viz Bihar, UP and Rajasthan on 28th Dec 2015

Benefits of Hand-held device to the rural citizen 
  1. Electronic transactions- Booking and delivery of Speed Post, registered mail, money orders, sale of stamps and postal stationery will be done through these devices and paper receipt shall be generated 
  2. instantaneously thereby eliminating chances of overcharging and other problems associated with manual transactions. Savings Bank deposits & withdrawals, PLI/RPLI premium deposits and loan/claim payments will also be done electronically on these devices. 
  3. Immediate uploading of transaction data and financial reconciliation- Using mobile connectivity, data pertaining to all transactions done on the hand-held devices shall be uploaded onto the central server. E-Money order will reach the destination post office instantaneously unlike present day where the money order is digitized at the nearest computerized Post Office and leads to delay in delivery. All financial transactions shall also be reconciled immediately without any manual intervention and Cash on Delivery amount collected in the village shall be immediately credited to the account of e-Commerce Company. Similarly the artisans would be able to fulfill e-commerce orders and receive immediate payment for their sold products online. This will have a positive impact on the overall economy of the villages. 
  4. Automatic track and trace- Speed Post and Registered letters/parcels and money remittances will be trackable at the Branch Post Office level and booking/delivery information will also be uploaded to central server immediately. 
  5. Fraud and leakage elimination- As Savings Bank and Postal Life Insurance transactions will be done on a real-time basis and through immediate generation of receipt and voice message, chances of fraud would be eliminated. Biometric authentication of MNREGS and social security beneficiaries at the time of pay-out would also reduce leakage in the schemes 
  6. Post Offices as Common Service Centres- Branch Post Offices shall be able to work as Common Service Centres and offer services such as Railway Reservation, online bill payment for electricity and water utilities, mobile and DTH recharge, insurance policy premium payments & transactions for partner banks/insurance companies/mutual funds etc

Achievements and Success of India Post

Average business provided by major players is as follows:
  • Amazon: ~3 Lakh articles per month (peak 6 Lakhs)
  • Snapdeal : 80000 articles per month
  • Myntra : 50000 articles per month
  • Flipkart : 30000 articles per month
  • Yepme : 60000 articles per month
  • Parcel Revenue : Rs. 92.35 Crores till Nov 2015
  • Speed Post revenue : Rs. 1023 Cr till Nov 2015 (~10% eCommerce business) 

Revenue Growth 

  • Speed Post revenue growth in the current FY is more than 16%. CAG report laid in Parliament on 8th May 2015 highlights that Speed Post is far better than private couriers, in terms of reach, assured delivery and delivery time. 
  • Department has tied-up with more than 400 e-commerce agencies including Flipkart, Snapdeal, Amazon, YepMe, Shopclues etc for delivering e-Commerce pre-paid as well as Cash on Delivery (CoD) orders. Amazon is the largest business partner in e-Commerce. Rs 1000 Crore COD collection by Department of Posts so far and this figure this likely to cross Rs 1500 Crores by the end of the current FY. 
  • Parcel revenue which registered 2% decline in 2013-14, registered 37% growth in 2014-15. 117% growth in parcel revenue till 31st October 2015 in the current FY. 

Digital India 

  • Core Banking Solution (CBS) rolled out in 12441 Post Offices along with 300 ATMs. CBS shall be rolled-out in all 25,000 Departmental POs along with 1000 ATMs by 31st March 2016. 
  • Core Insurance Solution (CIS) rolled out in 23,792 Post Offices and shall be rolled out in all 25,000 Departmental POs by 31st March 2016. 
  • Supply of solar powered, biometric hand-held devices with connectivity to about 20,000 rural Branch Post Offices shall be completed by 31st March 2016. All 130,000 rural post offices would be provided with hand-held devices by March 2017. 

E-Commerce Parcel Hub.

E-Commerce Parcel Processing Centre at Parel, Mumbai was dedicated to nation by Shri Ravi Shankar Prasad, Hon’ble Minister of Communications & Information Technology, Government of India on 9th January, 2016. 
The mechanized e-Commerce Parcel Hub is spread in an area of about 12,000Sq. feet built up area. Processing of parcels at this centre is fully mechanized & computerized using conveyer belts, scanners and computers and electronic weighing scales etc. Dedicated transport facility is provided to dispatch parcel bags to Airport Mumbai for dispatch by air to all places in India. This hub is designed to handle 30,000 e-Commerce parcels in a day in three shifts. This Parcel Hub is equipped with CCTV to enhance security. Articles booked by all the major e-Commerce players are being processed at this centre.

Twitter Delicious Facebook Digg Stumbleupon Favorites More

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Grants For Single Moms