Thursday, April 30, 2015
Monetary ceiling of briefcase/ladies purses for official purposs decided by Directorate
CHQ vide their letter No. CHQ/AIAIPASP/Misc/2013 dated 31/7/2013 requested Directorate to pass orders to circles / regions with direction to maintain uniformity at all levels as per revised limit contained in above said memo and if needed be copy of said memo dated 26/10/2012 may kindly be ordered to circulate amongst all so that circles may not have any excuse to adhere to the prescribed limit. Directorate was reminded on 21/10/2013, 12/7/2014 and 7/2/2015. This issue was also discussed in informal meetings held with the then Secretary (Posts) and the then Member (P). All Circle Secretaries were also directed to take up the through their circles.
The request of Association was considered by the Directorate and fresh memo under No. 23-1/2013-PAP dated 16th April 2015 circulated to all head of the circles. The copy of the memo is as under;
It was told that in few circles, no such amount is granted to IP/ASP. It is requested to all members to take up the matter with their controlling head / unit.
RAJYA SABHA Q&A regarding Post Bank of India & Task force Recommendations on PBI
GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
DEPARTMENT OF POSTS
RAJYA SABHA
UNSTARRED QUESTION NO.163
TO BE ANSWERED ON 24TH APRIL, 2015
POSTAL BANKS
163. DR. PRADEEP KUMAR BALMUCHU:
Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state:
(a) whether it is a fact that Government is urging the Department of Posts to come up with opening of Postal Banks in the country, if so, the details thereof;
(b) whether the Subramanian Committee, to which the matter had been referred, has submitted its report and has made recommendations in this regard; and
(c) if so, the details thereof?
ANSWER
THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(SHRI RAVI SHANKAR PRASAD)
(a) Sir, the Department of Posts has submitted an application to Reserve Bank of India on 30.1.2015 seeking license for setting up Post Bank of India under the rubric of “Payments Bank”. The Government is committed to increasing access of the people to the formal financial system and in this context, Government proposes to utilize the vast Postal network with nearly 1, 54,000 points of presence spread across the villages of the country. The Government hopes that the Postal Department will make its proposed Payments Bank venture successful so that it contributes further to the Pradhan Mantri Jan Dhan Yojana. The details of the proposed Post Bank would be finalized once the Reserve Bank of India takes a favourable decision on application submitted by Department of Posts. In the recent budget speech also the Finance Minister has appreciatingly talked about Post Bank.
(b) & (c ) The Task Force on Leveraging the Post Office Network under the Chairmanship of retired Cabinet Secretary Shri. T.S.R.Subramanian, has submitted its report during November-2014. The said task force has recommended for setting up Post Bank of India. The details of the recommendations are reproduced in the Annexure- ‘A’ enclosed herewith.
Annexure-A
Recommendations of Task Force on Leveraging Post Office Network with respect to Setting up of Post Bank of India:-
(i) The proposal is not to convert the PO Network into a Bank, but to set up a fully professional new Bank to further financial inclusion and meet the objectives of the Pradhan Mantri Jan Dhan Yojna, which specifically provides for the extension of credit to all Indians resident in every part of India, particularly in rural areas.
(ii) This opportunity for achieving universal financial inclusion via technology and the institutional reach of the PO Network must not be lost. There is admittedly a risk involved, as there is in any new venture into uncharted waters. The risk involved can and must be managed in the interests of the overall larger national objectives.
(iii) The PBI must be professionally managed and operated, with credit and other risks being handled by experienced experts hired from the market. In its own interest, its operations must be fully in line and compliant with RBI Guidelines.
(iv) A new institution, to be called the Post Bank of India or by some other suitable name, should be set up as a commercial bank offering the full spectrum of financial and banking services.
(v) As the owner of the proposed PBI, the Government of India may take decisions as appropriate on structural and organizational issues and other details, including the funding requirements.
(vi) The Task Force is of the view that the PBI should be set up under an Act of Parliament and that establishing the PBI as a statutory institution and a Government Bank would enhance its credibility, insulate it from local pulls and greatly facilitate its operations.
(vii) It is essential to structure the proposed PBI in such a manner as to pre-empt the possibility of outside interests influencing its day-to-day operations.
(viii) The Task Force also recommends that the PBI should initially be set up as a Public Sector Bank wholly owned by the Government of India.
(ix) The initial capital requirement, estimated at Rs. 500 crores as per RBI requirements would be fully funded by the Government.
(x) After the Bank establishes itself in 3 to 5 years, the Board of Directors could take a view on floating an IPO to raise fresh capital.
(xi) The PBI will focus on fulfilling the Government’s mandate of financial inclusion and on bringing the un-banked and under-banked segments of the population, particularly in rural, semi-rural and remote areas within the ambit of the formal monetized economy.
(xii) A view needs to be taken on how best to seamlessly integrate the earlier banking operations into the proposed new structure, The best and seamless method would be to fully absorb the POSB in the new proposed Bank (PBI).
(xiii) The PBI will offer services including credit, which are beyond the remit of the POSB.
(xiv) The PBI will develop financial products and services which are specially tailored to the needs of the rural and urban unbanked population, if necessary in collaboration with other banks.
(xv) The PBI will function as a commercially viable and self-sustaining entity without the need for continuing Government subsidies.
(xvi) After the Initial gestation period, it should generate its own resources and sustain itself in the competitive market environment.
(xvii) The PBI should price its services on a cost plus basis and revise these rates from time to time, so that its operations do not become a continuing and increasing burden on the Government exchequer.
(xviii) The PBI will start with a Head Office Main Branch and will thereafter expand its operations by opening Branch offices in the Metro towns and State capitals, to be manned by banking professionals.
(xix) The longer term objectives would be to establish a Branch Office of the PBI in each District Headquarter over a 3 to 5 year period, to be operated mostly by banking professionals.
(xx) The 150,000-plus Departmental and Branch POs will act as Banking Correspondents for the PBI.
(xxi) Careful consideration should be given to the various types, elements and levels of risk involved in the PBI’s operations.
(xxii) Robust System Protocols and Standard Operating Procedures should be put in place to manage these risks effectively.
(xxiii) The PBI should recruit/commission the services of banking experts to manage its credit, portfolio and market risks.
(xxiv) Appropriate management capabilities should be mobilized from the market and robust systems and processes should be put in place to ensure that Non-Performing Assets are kept within acceptable limits.
(xxv) It is neither necessary nor desirable to mandate a waiting period before the PBI enters into credit and lending operations.
(xxvi) The PBI should be constituted and begin working as a credit and lending Bank immediately, without any trial/waiting/learning period.
(xxvii) The PBI should be set up as an independent Statutory and corporate entity offering the full bouquet services, including credit, to its customers.
(xxviii) The PBI will primarily target currently unbanked and under-banked customers in rural, semi-rural and remote areas, with a focus on providing small and affordable loans and simple deposit products.
(xxix) Customers will be provided with full-fledged Savings Accounts, which can be retained even with zero balances, as provided for in the PMJDY.
(xxx) Credit risks will be managed by hiring professionals from the banking sector and by developing and implementing robust protocols for building checks and balances in the system. Market and robust systems and processes should be put in place to ensure that Non-Performing Assets are kept within acceptable limits
Asset and Liabilities return under "Lokpal" - date extended again
CLICK HERE to view the extension order.
Central Government collecting information about appointments secured on the basis of fake / false caste certificates
However, the Central Government had undertaken a onetime exercise to collect information about appointments secured on the basis of fake/false caste certificates in the year 2010. As per information received from various Ministries/Departments etc. 1832 appointments were allegedly secured on the basis of fake/false caste certificates. Disciplinary proceedings had been instituted in all the cases. It was reported that out of the above 1832 cases, 276 had resulted in suspension/removal etc., whereas 521 cases were entangled into litigations and in remaining 1035 cases disciplinary proceedings were pending.
The Government instructions provide that an appointing authority should verify a caste status of SC/ST candidates at the time of initial appointment as well as at the time of promotion.
Chief Secretaries of States/ Union Territories have been requested to issue instructions to the district magistrates/district collectors/ deputy commissioners of the districts to the effect that when asked to verify the veracity etc. of caste certificates, they should ensure at their own level that veracity of the caste/community certificate referred to the district authorities is verified and reported to the appointing authority within one month of receipt of request from such authority. In order to rule out collusion between candidates holding false/forged certificates and employees at the district level or sub-district level, disciplinary proceedings may be initiated against the officers who default in timely verification of caste status in such cases or issue false caste certificates.
Sr. Postmaster CAT case filed by Haryana and Punjab Circle ends
1. Quash the letter dated 3.10.2011 by which Limited Departmental Examination for Promotion to the cadre of Sr. Postmaster (Gazetted) has been ordered to be held on 31.12.2011 which is against the Department of Posts, Postal Supdts/Postmaster Group B Recruitment Rules, 1987 as amended from time to time as there is no vacant post in the quota prescribed under the rules as detailed in the preceding paras.
2. Quash the letter dated 29.11.2011 by which the applicants have been informed that ASPs are not eligible for appearing in the examination.
3. Quash the Department of Posts, Senior Postmaster (Group B Gazetted), Postmaster (Grade ‘III and II-Group B non-Gazetted) and Postmaster (Grade I-Group C Non-Gazetted) Recruitment Rules, 2010, i.e Postmasters Cadre Rules, 2010 run contrary to the Postal Services Postmaster Group B Rules, 1987 as amended from time to time, as the quota of the Inspector Line, has also been reduced from 19% and 75% by carving out the posts.
4. Issue direction to the respondents to consider the case of the members of the applicant No. 1 Union and other applicants for promotion under these rules of 1987 in their quota and promote them from due date with all the consequential benefits and it be declared that the bifurcation of quota now carried out by the respondents is illegal, arbitrary and bereft of any discernible principle.
5. Any other order or direction deemed fit and proper in the facts and circumstances of the case may also kindly be issued in favour of the applicants.
During the course of argument Department intimated that IP cadre will be given 97% posts in PS Gr. B cadre + 75% posts in Sr. PM cadre. This will not disturb IP Line posts quota in Gr. B cadre as per the previous calculations. General Line will be given 3% posts in PS Gr. B examination + 25% posts in Sr. PM cadre as per seniority. Therefore, IP line share would be 75% by inter-se-seniority and 22% by LDCE for promotion to the PS Gr. B cadre. Revised Recruitment Rules of PS Gr.B cadre is still not cleared by Nodal Ministry.
In view of the arguments made by department, above said OA is dismissed.
GS Desk...
Cadre restructuring of Inspector Posts cadre
It is learnt that requisite information from all Circles have been received at Directorate and now all the objections/doubts are cleared.
The proposal submitted by GS and discussed in the meeting held at Directorate on 28/11/2014 is said to be on the away of acceptance with few minor changes. File is under submission to higher authorities.
Lets hope that queries may not raise by them and get the proposal approved early by the department.
Lets hope that queries may not raise by them and get the proposal approved early by the department.
GS Desk...
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| Padmanabhaswamy Temple |
The actual details about venue and accommodation etc. will be intimated on due course. Mean while all eligible members (i.e. CHQ officer bearers and Circle Secretaries) are requested to book their to and fro tickets immediately and intimate details toSri S. Nandakumar, Inspector Posts, Kollam RMS, Kollam (Mobile No. 09447557016). Accommodation is available from morning of 25th July 2015 to 26th July 2015. Therefore all eligible delegates are requested to reserve their tickets accordingly. No extra persons are allowed with delegates.
Delegates may also contact to Sri Ajith Kurian, Ex-Circle Secretary Kerala Circle Branch and Manager, NSH Trivandrum on his mobile No. 09447271165 for .
Check your new I-T assessment range before filing returns
"Taxpayers are advised to check their new tax assessment ranges from the facility hosted on the official website of the department-- www.incometaxindia.gov.in. The new changes would be uploaded on the website by the first week of May," a senior I-T officer said.
The jurisdiction of a number of I-T assessment ranges have changed as the department has recently effected largescale cadre-restructuring and hence the existing assessees of a particular range may have shifted to a new one. For some assessees, the range may not have changed.
The Central Board of Direct Taxes (CBDT), the apex policy making body of the tax department, has asked its officers to ensure that an online facility for taxpayers to check their new assessment ranges is uploaded in the given time frame.
"The new measure entails migration of the existing Permanent Account Numbers (PAN) from one range to the other. The department is confident of completing the exercise before taxpayers begin filing their returns," the officer said.
The officer said instructions have been issued in this regard by CBDT Chairperson Anita Kapur so that taxpayers are not put to any "inconvenience" and that there are no grievances or complaints made by them in this regard.
The officer said the official website of the department will host an exclusive link called "Jurisdiction" to help the taxpayers in this regard. An individual will just have to punch his or her PAN card number to find a possible change in his or her assessment range.
The cadre-restructuring in the I-T department, with the creation of over 20,700 posts recently, has brought about a number of changes in the existing jurisdictions of assessing officers (AOs) of the department across the country.
"In case of online filing of I-T returns, the system will automatically find the AO of the filer," the officer added.
The aim of the I-T department restructuring, according to a blueprint prepared in this regard, is "to check the skewed distribution of posts in the department and to ensure identical hierarichal structure so that the department can effectively tackle taxpayers grievances and issues and ensure better tax collection."
The board has called for according "top priority" to addressing taxpayers' grievances by the Income Tax department after Prime Minister Narendra Modi recently expressed his disappointment about delays in corrective action and harassment of the assesses by tax officials.
Source:-The Economic Times
Saturday, April 25, 2015
Transparency in Government Procurement System
In order to improve transparency in Government Procurement system, Government of India has established Central Public Procurement Portal (CPPP). Instructions have been issued that it will be mandatory for all Ministries/Departments of the Central Government, their attached and subordinate offices, Central Public Sector Enterprises (CPSEs) and autonomous/statutory bodies to publish their tender enquiries, corrigenda thereon and details of bid awards on the CPP Portal. Further, all Ministries/Departments of the Central Government, their attached and subordinate offices have been asked to commence e-procurement in respect of all procurement with estimated value of Rs. 5 lakhs w.e.f. 01.04.2015 and Rs. 2 lakhs w.e.f. 01.04.2016. This improved transparency in the Government procurement system will make them more efficient and effective.
This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.
Source:-PIB
TDS on Recurring Deposits
This was stated by Shri Jayant Sinha, Minister of State in Ministry of Finance in written reply to a question in the Lok Sabha today.
Source:-PIB
Reserve Bank of India asks banks to add 'third gender' column in all forms
In a move aimed at helping transgender persons open bank accounts and avail related services, the Reserve Bank today directed banks to include a separate column 'third gender' in all their forms and applications.
It has been brought to our notice that transgender persons face difficulties in opening accounts as there is no provision for them in the account opening and other forms, the RBI said.
"Banks are, therefore, directed to include 'third gender' in all forms/applications etc. prescribed by the Reserve Bank or the banks themselves, wherein any gender classification is envisaged," it said in a notification.
As per a judgment on April 14, 2014, the Supreme Court had upheld transgender persons' right to decide their self- identified gender and directed the centre and state governments to grant legal recognition of their gender identity such as male, female or as third gender.
Source The Economic Times
Soon, use any bank’s card at postal ATM
Soon, Chennai residents can use postal ATMs to withdraw money not only from their postal savings account, but from any bank account.
This will be possible once the Reserve Bank of India (RBI) accepts the proposal to have postal Automated Teller Machines (ATM) interoperable where postal customers could use debit cards of other banks. Earlier this week, the Department of Posts opened two more ATMs at St. Thomas Mount and Mylapore post offices. The first postal ATM was opened in T. Nagar post office last year.
Anna Road head post office and Tambaram post office will also have ATM facilities . In three months, the department plans to expand its ATM services to over 17 post offices, including those in Park Town, Avadi and Ambattur.
Officials of the Postal Department said once the ATMs are operational for a few months, RBI is expected to approve the proposal to allow postal account holders to use debit cards of other banks as well and vice versa.
As of now, only 50 postal account holders have debit cards. “With more ATMs being added, we are speeding up the process to issue personalised debit cards. At present, customers can get insta cards that will allow them to use ATMs till they get their debit cards,” said Mervin Alexander, Postmaster General (Chennai city region).
It takes about 3-4 weeks to get a postal debit card. The department plans to distribute about 2,500 cards soon, particularly to pensioners. While applications are being accepted for obtaining debit cards, customers can immediately get insta cards to carry out transactions.
Nearly 31.22 lakh postal saving account holders of Chennai city region would be able to use postal debit cards in any of the post offices networked with core banking solutions. Customers could soon avoid visits to post offices to carry out savings account transactions as e-post office and mobile banking facility are on the anvil.
Source : http://www.thehindu.com/
SBCO PROPOSED PROCEDURE - Workshop on SBCO role in CBS offices dtd 23.04.2015 & 24.04.2015
- Sealing of Vouchers and LOT
- Post Office staff will write name of Scheme and TRAN ID in red ink on the right hand side of the voucher.
- One deposit slip and one withdrawal slip will be prepared for auto-credit of MIS/SCSS/TD to Savings and Savings to RD.
- One deposit slip will be prepared for the total of each type of Agent commission credited into savings supported by consolidated list of commission paid.
- At the closing of counter hours, all vouchers should sorted scheme-wise and TRAN ID wise. Vouchers should be tallied with LOT and LOT is to be signed by Counter PA as well as Supervisor.
- A consolidation of the scheme should be generated and printed.
- All vouchers including closed vouchers are to be sealed alongwith print out of consolidation. One printed copy of LOT is to be taken and attached to the voucher bundle separately.
- In case of any adjustment if required in interest, Postmaster/Sub Postmaster will raise the issue with Divisional head who will approve adjustment and send letter to SBCO Incharge.
- SBCO Incharge will use HIARM menu and enter interest adjustment entry. All such approvals will be maintained in a guard file.
- SBCO has to kept a watch on Freeze/Unfreeze Account report of SBGRP and raise objection in case of suspicion.
- SBCO Has to keep watch on some identified Office Accounts.
- SBCO will get list of cheques issued by Postmaster against matured/closed accounts and LOT of Postmaster Office Account 0340. SBCO has to cross verify these entries and raise objections in case of any suspicion.
- SBCO will get LOTs of some office accounts like 0382, 0017,0409, 0410, 0408, 0096, 0098, 0437, 0322, 0387, 0382, 0339 etc. SBCO has to preserve these LOTs and in case of suspicion raise objections.
- In case of closed accounts, no need to send SB-3 in CBS Offices.
- There are many Finacle menus through which SBCO can test check individual accounts. This will be optional to carry out these checks and raise issues.
- SBCO will get LOTs of some office accounts like 0382, 0017,0409, 0410, 0408, 0096, 0098, 0437, 0322, 0387, 0382, 0339 etc. SBCO has to preserve these LOTs and in case of suspicion raise objections.
SBCO PROPOSED PROCEDURE
View / Download ( PPT File )
Rounding off of a fraction of a rupee in regulation of additional pension
CLICK HERE to view Department of Pension and Pensioner's Welfare OM No. 38/8//15-P&PW(P) dated 16th April, 2015
POSB LATEST INTEREST CALCULATOR REVISED INTEREST 01.04.2015
Interest Calculator : Download
Features Updated On 15/04/2015:
New Interest rates w.e.f. 01/04/2015 configured for SCSS Account. Maturity amount for old accounts also can be viewed by entering Date of opening in Home page.
KVP (new) option is included in home page of Interest calculator. Discharge value of KVP (old) can be viewed in another link provided in bottom of Calculator table.
SSA Approximate maturity calculation - link is added in the Main page of Calculator (at right bottom of calculator)
"Print Tables/Forms" link is provided in Main calculator page to Print Ready reckoner tables for RD/TD/MIS and Pamphlet, Forms. In "Print Tables/Forms" link, updated pamphlet is provided in PDF format incorporating new KVP, SSA.
Changes have been made in MIS to RD (auto credit option) maturity calculation, so as to see it after 31.03.2015 also.
In RD PMC Calculator available in "view more" link of RD, financial year 2015-16 has been included.
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