Wednesday, August 31, 2016

IPPB incorporated...

The India Post Payments Bank Limited has received the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs yesterday under the Companies Act 2013. This would be the first PSU under the Department of Posts. This has happened in the wake of Prime Minister Shri Narendra Modi’s Independence Day address, raising the expectations of the people from the soon to be set up India Post Payments Bank. With this move the Department of Posts has cleared an important milestone on this journey.

With the incorporation, the Board of the India Post Payments Bank Limited is likely to be constituted soon. The incorporation of the IPPB Ltd is a significant step forward as this also paves the way for the bank to begin hiring of banking professionals to set up the bank and begin its operations in 2017. The Department of Posts is expected to complete the roll out of its branches all over the country by September 2017. This could be the fastest roll out for a bank anywhere in the world.

The aspiration for the India Post Payments Bank is to become the most accessible bank in the world riding on state of the art banking and payments technology. Coupled with the physical presence across 1.55 lakh post offices and the reach of “The Dakiya”, the India Post Payments Bank aims to become a powerful and effective vehicle of real financial inclusion in the country. It is poised to create a national payments architecture riding on a modern payments platform and ubiquitous information and communication technologies that can be accessed by all users and service providers like never before. The stakeholders of the India Post Payments Bank within the Government and outside are looking at this new entity as a catalyst to social and financial inclusion. 

Source:-PIB(Release ID :149001)

Sri B.V Sudhakar,Secretary Posts met Sri Narendra Modi, Hon'ble Prime Minister


Seventh Central Pay Commissions recommendations - revision of pay scales- amendment of Service Rules/Recruitment Rules.

                 To view please Click Here.

Income Tax Slabs & Rates for Financial Year 2016-2017 (Assessment Year 2017-2018)

INCOME TAX SLABS & RATES FOR FINANCIAL YEAR 2016 - 2017 (ASSESSMENT YEAR 2017 - 2018)


Additional tax benefit of Rs.5000/- under Section 87A, if Income is upto Rs.5,00,000/-.

3% Extra Surcharge on total Tax.

Section 80GG: Deduction amount under 80GG increased from Rs 24,000 per annum to Rs 60,000 per annum. Section 80GG is applicable for all the individuals who do not own a residential house & do not get HRA (House Rent Allowance). 

Section 87A Rebate : Benefit of Rs 5,000 upto the income of Rs 5,00,000. If you are earning below Rs 5 lakh, you can save an additional Rs 3,000 in taxes. Tax rebate under Section 87A has been raised from Rs 2,000 to Rs 5,000. Effectively, this means now the basic exemption is of Rs 3 lakh. 

Surcharge : 15 % Surcharge on income of more than 1 crore rupees yearly has been proposed, earlier it was 10 %. 

National Pension System : 40% of corpus withdrawal at the time of retirement will be tax exempted. 

Section 80EE – First time Home Buyers can claim an additional Tax deduction of up to Rs 50,000 on home loan interest payments u/s 80EE. 

The home loan should have been sanctioned in FY 2016-17 

Loan amount should be less than Rs 35 Lakh 

The value of house should not be more than Rs 50 Lakh 

INCOME TAX RATES FOR GENERAL CATEGORY (NON SENIOR CITIZENS):


INCOME TAX RATES FOR SENIOR CITIZENS (60 YEARS & ABOVE, BUT BELOW 80 YEARS):


INCOME TAX RATES FOR VERY SENIOR CITIZENS (80 YEARS & ABOVE):



CHQ News: GS writes letter to Secretary Posts on holding of DPC for the promotion to the cadre of PS Gr. B for year 2016-17.

To,    
Shri B. V. Sudhakar,
Secretary (Posts),
Department of Posts, 
Dak Bhavan, Sansad Marg, 
New Delhi 110 001. 

Subject : Holding of DPC for the promotion to the cadre of PS Gr. B for year   2016-17. 

Ref.        : Dte Memo No. 9-02/2015-SPG dated 10.11.2015 and 9-02/2015(I)-SPG dated 09-06-2016

Respected Sir,  

          IP/ASP Association intended to bring to your kind notice that Directorate vide memo No. 9-02/2015-SPG dated 10.11.2015 has appointed 122 Inspector Line Officers on regular basis in PS Gr. B cadre in the vacancies of 2015-16 and vide memo No. 9-02/2015(I)-SPG dated 09-06-2016 result of supplementary DPC by promoting 29 officers against the vacancies of 2015-16 released, but following are the few examples in which circles have not implemented orders despite having clear orders to relive the promoted officers to their new assignments within 15 days from the date of issue of orders and also not reported the date of joining by the officer in PS Gr. B cadre.

Directorate Memo No.
Name of Circle
Name of Officer
New Circle on promotion
9-02/2015-SPG dated 10.11.2015
Bihar
Shaikh Kalam
Bihar
Karnataka
C. R. Nagaraj Rao
Maharashtra
Karnataka
S. Linga Setty
Karnataka
Madhya Pradesh
M. M. Mahashwari
Uttar Pradesh
West Bengal
Madhab Mukherjee
West Bengal
9-02/2015(I)-SPG dated 09-06-2016
Haryana
Kuldeep Singh
Haryana
Andhra Pradesh
S. Murali Krishana
Tamil Nadu
Bihar
Ram Nath Sharma
Bihar
Gujarat
Y. V. Patel
Gujarat
Andhara Pradesh
M. Audinarayana
Tamil Nadu
Uttar Pradesh
Meena J. R.
Uttar Pradesh

          It is to further bring to your kind notice that as per above orders all the officers promoted to PS Gr. B cadre had to be relieved from their former assignments within 15 days from the date of issue of order  by Directorate. It has also stated in Directorate’s above captioned letter that, in case, posting order from the allotted circles are not received, the circle where they are stationed now can relive the promoted officer and asked to report to the allotted Circle Headquarter. Requisite period in both the orders have already been elapsed to join the new assignment on promotion. If the officers are still not joined then their promotion order may be treated as cancelled and vacancies arise owing to deemed refusal and filled these in ensuing DPC for the year 2016-17.

In this regard, a kind reference is invited to para-3 of the Department of Posts (Personnel Division) letter No.25-10/2014-SPG dated 09/07/2014 coupled with para-7 of DOP & T OM No.22011/9/98-Estt (D) dated 08-09-1998  wherein it is provided that a DPC may take into account all clear expected vacancies by retirement in the concerned grade as well as chain vacancies on account of retirement etc. in the higher grades which can be clearly anticipated in the same vacancy year.

Department of Posts vide Personnel Division letter dated 09/07/2014 has also issued instructions to percolate the seniority quota vacancies arising in higher grades in a vacancy year down to lower cadres/grades and to take into account along with the clear vacancies arising in a particular grade. Further, as clarified vide Para.4.(II) of the said letter a Circle will take into account the vacancies arising from HAG to PS Group-B Cadre in that Circle in a vacancy year as chain vacancies for lower cadres in addition to existing and anticipated vacancies in the said lower cadre arising in that vacancy year.

Furthermore it is bring to your kind notice that last year DPC process was stated by Directorate vide memo no. 9-02/2015-SPG dated 26/3/2016 and finished on 10-11-2015, it means more than 7 months period took to promote only 122 officers to PS Gr. B cadre. Whereas this year, the process was started late i.e. in the month of July 2016 vide memo No. 9-14/2016-SPG dated 05-07-2016.  

It is therefore fervently requested to your kind honour to look into the matter personally and cause to issue necessary instructions to concerned circle / division in the Directorate to;
1.   issue declination of promotion memo of the officers who did not join to new assignment till this date.
2.   issue the list officers in the zone of consideration for DPC for promotion to the cadre of PS Gr. B cadre for the year 2016-17.
3. issue strict instructions to all circles to provide correct, requisite and accurate information to Directorate on the allotted date for furnishing information on DPC.
4.  issue time bound slot to all circles to handover the APARs and other requisite information to Directorate for convening of DPC for promotion to the cadre of PS Gr. B cadre for the year 2016-17.
5.   call for vacancies from all circles for the PS Gr. B DPC (2016-17) well in advance.
6.   call for the names of the officers from all circles for repatriation to their home circle.
7.   complete all the procedures in this issue by the end of September 2016.

A positive action will be highly appreciated and line in reply is requested. 

Thanking you,   
                                                                                Yours sincerely,

Sd/-
(Vilas Ingale)
General Secretary

Sensitization of ASPOs/IPs posted all over the country


HC Judgement on the Termination of Postal Recruitment PA/SA 2014