WP @ High Court Kerala for postpone of PSS Gr B LDCE to be held on 4-12-2016 listed @ Sl No 5 in court 6 B today...

We hope for the best...

Contempt case filed before CAT Ernakulam for upgradation of GP of IP w.e.f 1-1-2006

It was listed on 28-11-2016, three weeks time has been given to respondent for filing reply as per their request.

FAQs on Withdrawal of Legal Tender Status of the existing Bank Notes in the denominations of Rs 500/- and Rs 1000/- (Updated as on November 28, 2016)

Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 28, 2016)

(Updated as on November 28, 2016) (Updated as on November 25, 2016) (Updated as on November 23, 2016) (Updated as on November 22, 2016) (Updated as on November 21, 2016) (Updated as on November 18, 2016) (Updated as on November 16, 2016) (Updated as on November 14, 2016) (Updated as on November 12, 2016) (Updated as on November 11, 2016) (Updated as on November 08, 2016) 1. Why is this scheme introduced? The incidence of fake Indian currency notes in higher denomination has increased. For ordinary persons, the fake notes look similar to genuine notes, even though no security feature has been copied. The fake notes are used for antinational and illegal activities. High denomination notes have been misused by terrorists and for hoarding black money. India remains a cash based economy hence the circulation of Fake Indian Currency Notes continues to be a menace. In order to contain the rising incidence of fake notes and black money, the scheme to withdraw has been introduced. 2. What is this scheme? The legal tender character of the existing bank notes in denominations of ₹ 500 and ₹ 1000 issued by the Reserve bank of India till November 8, 2016 (hereinafter referred to as Specified Bank Notes) stands withdrawn. In consequence thereof these Bank Notes cannot be used for transacting business and/or store of value for future usage. The Specified Bank Notes can be exchanged for value at any of the 19 offices of the Reserve Bank of India and deposited at any of the bank branches of commercial banks/ Regional Rural Banks/ Co-operative banks (only Urban Co-operative Banks and State Co-operative Banks) or at any Head Post Office or Sub-Post Office. District Central Cooperative Banks (DCCBs) can allow their existing customers to withdraw money from their accounts upto ₹ 24,000 per week. No exchange facility against the specified bank notes (₹ 500 and ₹ 1000) or deposit of such notes should be entertained by DCCB’s. The Reserve Bank has accordingly advised all banks to permit withdrawal of cash by DCCBs from their accounts based on need. 3. Does the scheme apply to pre 2005 banknotes of ₹ 500 and ₹ 1000? Yes, specified banknotes (SBN) include pre 2005 banknotes in the denominations of ₹ 500 and ₹ 1000. Banks should accept deposits of pre-2005 bank notes in the denominations of ₹ 500 and ₹ 1000 under the scheme. However, these notes can be exchanged at RBI Offices only. 4. How much value will I get? You will get value for the entire volume of notes tendered at the bank branches / RBI offices. 5. Can I get all in cash? The Scheme does not provide for it, given its objectives. You can use balances in bank accounts to pay for other requirements by cheque or through electronic means of payments such as Internet banking, mobile wallets, IMPS, credit/debit cards etc. 6. Can I get cash in exchange for specified banknotes over the bank counter? No over the counter exchange (in cash) of SBNs is not permitted from November 25, 2016. Members of public who approach the banks for over the counter exchange of SBN are encouraged to deposit SBNs into their bank accounts. Banks have been advised to facilitate opening of new accounts for unbanked people. 7. What if I don’t have any bank account? You can always open a bank account by approaching a bank branch with necessary documents required for fulfilling the KYC requirements. 8. What if, if I have only JDY account? A JDY account holder can avail the deposit facility subject to the caps and other laid down limits in accord with norms and procedures. 9. Where can I go to exchange the notes? The exchange facility has been stopped at bank branches with effect from November 25, 2016. 10. Should I go to bank personally for deposit or can I send the notes through my representative? Personal visit to the branch is preferable. In case it is not possible for you to visit the branch you may send your representative with an express mandate i.e. a written authorisation. The representative should produce authority letter and his / her valid identity proof while tendering the notes. In case you want to go to a branch of any other bank where you are not maintaining an account, you will have to furnish valid identity proof and bank account details required for electronic fund transfer to your account. 11. Can I withdraw from ATM? The ATMs are progressively getting recalibrated. As and when they are recalibrated, the cash limit of such ATMs will stand enhanced to ₹ 2500/- per day. This will enable dispensing of lower denomination currency notes for about ₹ 500/- per withdrawal. Other ATMs which are yet to be recalibrated, will continue to dispense ₹ 2000/- till they are recalibrated. Banks have also been advised to increase the Business Correspondents’ limit of dispensing cash to ₹ 2500/- for withdrawal from bank accounts. 12. What will be the levied ATM charges? It has been decided that banks shall waive levy of ATM charges for all transactions (inclusive of both financial and non-financial transactions) by savings bank customers done at their own banks’ ATMs as well as at other banks’ ATMs, irrespective of the number of transactions during the month. This waiver is applicable on transactions done at ATMs from November 10, 2016 till December 30, 2016, subject to review. 13. Does the limit of ₹ 24000 withdrawal apply to withdrawals from bank account of one bank from another bank? These limits are not applicable to cash withdrawal from a bank account by one bank from another bank, Post Office, Money changers operating at International airports and operators of White Label ATMs. The branches maintaining Currency Chests have been advised to accommodate the requests from other branches in their vicinity – linked or otherwise – for supply of cash. 14. Can I withdraw cash against cheque? Yes, you can withdraw cash against withdrawal slip or cheque subject to a weekly limit of ₹ 24000/- (including withdrawals from ATMs and over the counter) from the bank accounts. Business entities having Current Accounts which are operational for last three months or more will be allowed to draw ₹ 50,000/-per week. This can be done in a single transaction or multiple transactions. This facility has been extended to Overdraft and Cash Credit accounts and traders registered with the Agricultural Produce Market Committee (APMC) markets or mandis. Accordingly, holders of current / overdraft / cash credit accounts, which are operational for the last three months or more, may withdraw upto ₹ 50000 in cash, in a week. Such withdrawals may be disbursed predominantly in ₹ 2000 denomination bank notes. This enhanced limit for weekly withdrawal is not applicable for personal overdraft accounts. Farmers are allowed to draw upto ₹ 25000/- per week in cash from their loan (including Kisan Credit Card limit) or deposit accounts subject to their accounts being compliant with the extant KYC norms. 15. Can I withdraw a higher amount for the purpose of my ward’s wedding? With a view to enable members of the public to perform and celebrate weddings of their wards it has been decided to allow a cash withdrawal of maximum ₹ 250000/- from their bank deposit accounts till December 30, 2016 to meet wedding related expenses. This is subject to the following conditions: i. Withdrawals are permitted only from fully KYC compliant accounts. ii. The amounts can be withdrawn only if the date of marriage is on or before December 30, 2016. iii. Withdrawals can be made by either of the parents or the person getting married. (Only one of them will be permitted to withdraw). iv. Since the amount proposed to be withdrawn is meant to be used for cash disbursements, it has to be established that the persons for whom the payment is proposed to be made do not have a bank account. v. The application for withdrawal shall be accompanied by following documents: An application as per the format Evidence of the wedding, including the invitation card, copies of receipts for advance payments already made, such as Marriage hall booking, advance payments to caterers, etc. A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are being made. Banks may keep a proper record of the evidence and produce them for verification by the authorities in case of need. The scheme will be reviewed based on authenticity/ bona fide use thereof. Yet, banks should encourage families to incur wedding expenses through non-cash means viz. cheques /drafts, credit/debit cards, prepaid cards, mobile transfers, internet banking channels, NEFT/RTGS, etc. Therefore, members of the public should be advised, while granting cash withdrawals, to use cash to meet expenses which have to be met only through cash mode. 16. What is being done for the farmers? Farmers are allowed to draw upto ₹ 25000/- per week in cash from their loan (including Kisan Credit Card limit) or deposit accounts subject to their accounts being compliant with the extant KYC norms. Specified banknotes in the denomination can be used for making payments towards purchase of seeds from the centres, units or outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research, on production of proof of identity. Towards ensuring unhindered farming operations during the Rabi crop season, NABARD would be utilizing its own cash credit limits up to about ₹ 23,000 crore to enable the DCCBs to disburse the required crop loans to PACS and farmers. Banks with currency chests have been advised to ensure adequate cash supply to the DCCBs and RRBs. Adequate cash supply should also be ensured for rural branches of all commercial (including RRBs). Bank branches located in APMCs may also be given adequate cash to facilitate smooth procurement. 17. Can I deposit Specified Bank Notes through ATMs, Cash Deposit Machine, cash Recycler and bank branches multiple times? Yes, Specified Bank Notes can be deposited in Cash Deposits machines / Cash Recyclers or at bank branches more than once till December 30, 2016. At bank branches, customers should use separate pay-in-slips for depositing specified bank notes and other legal tender bank notes.(If a depositor has a mixed bunch of SBN and legal tender notes, he has to segregate them and submit two separate Pay-in slips). 18. Can I make use of electronic (NEFT/RTGS /IMPS/ Internet Banking / Mobile banking etc.) mode? You can use NEFT/RTGS/IMPS/Internet Banking/Mobile Banking or any other electronic/ non-cash mode of payment. In order to meet the transactional needs of the public through digital means, additional measures have been introduce by way of special dispensation for small merchants and enhancement in limits for semi-closed Prepaid Payment Instruments (PPIs). PPIs issuers can issue PPIs to such merchants. While balance in such PPIs cannot exceed ₹ 20,000/- at any point of time, the merchants can transfer funds from such PPIs to their own linked bank accounts upto ₹ 50,000/- per month, without any limit per transaction. Merchants only need to provide a self-declaration in respect of their status and details of their bank account. The limit of semi-closed PPIs issued with minimum details has been enhanced to ₹ 20,000/- from the existing ₹ 10,000/-. The total value of reloads during any given month has also been enhanced to ₹ 20,000/-. Extant instructions for other categories of PPIs remain unchanged. Full KYC PPIs with balance upto ₹ 1,00,000/- can continue to be made available by authorised PPI issuers. The above measures will be effective from November 21, 2016 till December 30, 2016, subject to review. 19. I am right now not in India, what should I do? If you have Specified banknotes in India, you may authorise in writing enabling another person in India to deposit the notes into your bank account. The person so authorised has to come to the bank branch with the Specified banknotes, the authority letter given by you and a valid identity proof (Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff) 20. I am an NRI and hold NRO account, can the exchange value be deposited in my account? Yes, you can deposit the Specified banknotes to your NRO account. 21. I am a foreign tourist, I have these notes. What should I do? Foreign citizens will be permitted to exchange foreign currency up to ₹ 5000 per week. Necessary entry to this effect will be made in their passports. 22. I have emergency needs of cash (hospitalisation, travel, life saving medicines) then what I should do? Till the December 15, 2016, specified banknotes of only 500 denomination can be used as under:— (a) for making payments in Government hospitals for medical treatment and pharmacies in Government hospitals for buying medicines with doctor's prescription; (b) at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses and airline ticketing counters at airports for purchase of tickets; (c) for purchases at consumer cooperative stores operated under authorisation of Central or State Governments and the customers shall provide their identity proof; However, the purchase from Consumer Cooperative Stores will be limited to ₹ 5000 at a time; (d) for purchase at milk booths operating under authorisation of the Central or State Governments; (e) for purchase of petrol, diesel and gas at the stations operating under the authorisation of Public Sector Oil and Gas Marketing Companies; (f) for payments at crematoria and burial grounds; (g) for making payments in all pharmacies on production of doctor’s prescription and proof of identity; (h) for payments on purchases LPG gas cylinders; (i) for making payments to catering services on board, during travel by rail; (j) for making payments for purchasing tickets for travel by suburban and metro rail services; (k) for making payments for purchase of entry tickets for any monument maintained by the Archaeological Survey of India. (l) for making payments towards any fees, charges, taxes or penalties, payable to the Central or State Governments including Municipal and local bodies; (m) for making payments towards utility charges for water and electricity only. -which shall be restricted to individuals or households for payment of only arrears or current charges. No advance payments shall be allowed (n) for payments towards court fees (o) for making payments towards purchase of seeds from the centres, units or outlets belonging to the Central or State Governments, Public Sector Undertakings, National or State Seeds Corporations, Central or State Agricultural Universities and the Indian Council of Agricultural Research, on production of proof of identity: Provided that for the purposes of this clause, specified bank notes shall mean bank notes of the denominational value of five hundred rupees (p) Payment of School fees up to ₹ 2000 per student in Central Government, State Government, Municipality and local body schools; (q) Payment of fees in Central or State Government colleges; (r) Payments towards pre- paid mobile top-up to a limit of ₹ 500 per top-up (s) Toll payment at these toll plazas of the Ministry of Road Transport and Highways may be made through old ₹ 500 notes from 3.12.2016 to 15.12.2016 (as they have continued the toll free arrangement up to 2.12.2016) 23. Can I use the Specified banknotes to settle outstanding in my loan account? Deposits of Specified bank Notes into all types of deposit/loan accounts is allowed subject to CTR/STR reporting. Anybody depositing more than ₹ 50,000/- in cash in their bank account has to submit a copy of the PAN card in case the bank account is not seeded with PAN. 24. Can I deposit SBN to Small Savings Scheme? Government of India has decided that subscribers of Small Savings Schemes may not be allowed to deposit SBNs in Small Savings Schemes. Banks have been advised not to accept SBNs for deposits in Small Saving Schemes with immediate effect. However deposits into Post Office Savings account are permitted 25. What is proof of identity? Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff. 26. Where can I get more information on this scheme? Further information is available on our website (www.rbi.org.in) and the website of the Government of India (www.finmin.nic.in) 27. What steps have been taken for queue management? Banks have been advised to make arrangements for separate queues for Senior citizens and Divyang (disabled) persons. Similarly, separate queues should also be arranged for those who come to exchange SBN for cash and those who come to deposit into bank accounts. The last date for submission of the annual life certificate for the government pensioners which is to be submitted in November every year has been extended upto January 15, 2017 to facilitate. The Reserve Bank assures members of the public that enough cash in small denominations is also available at the Reserve Bank and banks. The Reserve Bank urges that public need not be anxious; need not come over to banks repeatedly to draw and hoard; Cash is available when they need it. Also see: All You wanted to know from RBI about: Withdrawal of Legal Tender Status of ₹ 500 and ₹ 1000 Notes 28. If I have a problem, whom should I approach? You may approach the control room of RBI by email or on Telephone Nos 022 22602201/022 22602944

Source : https://www.rbi.org.in/Scripts/FAQView.aspx?Id=119

Withdrawal of cash from bank deposit accounts - Relaxation

Search for higher rates ends at post offices, govt bonds

MUMBAI: Investors are rushing to lock money into post office deposits and a government bond, which are yet to cut interest rates even as banks lower deposit rates.A bank deposit now pays a maximum of 7%, while post office deposits pay 7.8% and the government bond pays 8%. 

"There is a rush amongst investors to lock into longer-tenure products and where there is no announcement of rate cuts so far," said Vikram Dalal, managing director, Synergee Capital. 

For retirees and other investors living on interest income from deposits, financial advisors said, the government savings bonds, which have a tenure of six years for small investors, make sense. 

"There is no reinvestment risk as you can lock in at a rate as high as 8% for 6 years. It works well for those whose income is not subject to tax or who are in the marginal tax bracket," said Dalal. The minimum investments amount is Rs 1,000 and there is no ceiling on the upper limit. The bonds are issued in physical form. 

"The only drawback of this product is that it is illiquid since they are not traded and cannot be encashed in an emergency.However, investors can opt to take a loan on this product, says Anup Bhaiya, MD, Money Honey Financial Services.

Interest rates on bank fixed deposits fell post demonetisation. Banks like SBI, ICICI Bank, HDFC Bank, Kotak Bank have all cut fixed deposit rates by 15-25 basis points (100 basis points is equivalent to 1%). 

Post the rate cuts, a five year fixed de posit fixed de posit from State bank of India fetches 6.5%, while HDFC Bank gives 6.75%. Taking a cue from banks, finance companies too have lowered deposit rates. HDFC now offers 7.65% for a five-year deposit, while Gruh Finance is offering 7.5%. 

"The banking system is flush with liquidity and there are not enough avenues to deploy money .Given this and expected rate cuts, fixed deposit rates could head even lower in the coming months," says Shankar S, financial planner at Credo Capital. 

Source : The Economic Times

Withdrawal of cash per week - RBI Instructions on 25.11.2016

DCM (Plg) No.1424/10.27.00/2016-16

November 25, 2016

To,

The Chairman / Managing Director/ Chief Executive Officer,

Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural

Banks / Urban Cooperative Banks/ State Cooperative Banks/ District Central Cooperative Banks

Dear Sir,

Withdrawal of cash – Weekly limit

Please refer to our circulars DCM (Plg) Nos. 1272/10.27.00/2016-17 and 1273/10.27.00/2016-17 dated November 13 and November 14, 2016, respectively. 

The banks are hereby advised that they may continue to allow their existing customers to withdraw cash from their accounts upto Rs. 24,000/- per week, till further instructions. 

The said limit include withdrawals from ATMs as stipulated in our circular DCM (Plg) No.1304/10.27.00/2016-17 dated November 20, 2016.

Please acknowledge receipt.

Yours faithfully,

(Suman Ray)

General Manager

Rs 32,631 cr deposited in post offices since demonetisation

The post offices have also exchanged about Rs 3,680 crore of old currency notes between November 10 and 24, Department of Posts Secretary B V Sudhakar told PTI.

"From November 10 to November 24, we have exchanged 578 lakh notes of value of about Rs 3,680 crore. If you look at the deposits, 43.48 crore old Rs 500 and Rs 1000 notes were accepted as deposits, and their value is about Rs 32,631 crore," he said.

As many as 1.55 lakh post offices -- about 1.30 lakh in rural areas and the rest 25,000 in urban and semi-urban areas -- are playing a "prominent role" in the entire exercise, he added.

During the same period, Rs 3,583 crore was withdrawn from post offices, Sudhakar said.

Following demonetisation of Rs 500 and Rs 1000 notes from midnight of November 8, people rushed to banks and post offices to deposit or exchange old currency notes. Serpentine queues were seen in front of banks, ATMs and post offices with people lining up to get valid currency notes.

Those without postal savings accounts were also permitted to exchange the old notes up to a certain limit in the post offices by producing their identity cards.

While the window of a fortnight to exchange these currency notes over-the-counter at banks and post offices ended on November 24, the old notes can be deposited in bank accounts until December 30.

One more CAT case filed for stay in holding PS Gr. B examination

It is requested by GS to comment on the issues raised by the PM cadre in OA...All members are  requested to go through the OA and intimate the opinion to Circle President/CS/Treasurer for further necessary action please...

GDS COMMITTEE REPORT REACHED AT DIRECTORATE

Central Government Employees likely to get new allowances from January 2017

It is reported from sources in the Ministry of Finance that centre likely to start disbursing allowances at higher rate in the next calendar year.

It is learnt that due to demonetization and cash crunch, the process is delayed. It is likely to be paid from January 2017. 

Regarding date of effect, though the decision is yet to be taken but it is widely anticipated that fatter allowances will be effected from August 2016 and arrears to be paid in one go in January 2017.

As far as rate of allowances, the source added that the committee will stick to the pay commission recommendation. So the possibility to get something higher looks remote.

It is also reported that Govt. may consider only against abolishing of a few allowances as a populist measure.

WOS currency notes will not be exchanged in Post Offices after midnight on 24.11.2016

Cabinet moves in to tax post demonetisation deposits

The move comes amid banks reporting over Rs. 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the Rs. 500 and Rs. 1,000 notes were banned, which authorities apprehend may be the laundered black money.

There was no official briefing on what transpired in the meeting that was called at short notice as Parliament is in session. Traditionally, there could no disclosures outside on any policy decision taken during the sitting of Parliament.

Sources said the government was keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30.

There have been various statements on behalf of the government ever since the demonetisation scheme was announced on November 8, which has led to fears of the taxman coming down heavily on suspicious deposits that could be made to launder black money.

Officials have even talked of a 30 per cent tax plus a 200 per cent penalty on top of a possible prosecution in cases where black money holders took advantage of the 50-day window for depositing the banned currency.

Sources said the government plans to bring an amendment to the Income Tax Act during the current winter session of Parliament to levy a tax that will be higher than 45 per cent tax and penalty charged on black money disclosed in the one-time Income Disclosure Scheme that ended on September 30.

As for those black money holders who did not utilise the window, they would be charged a higher rate which could be close to 60 per cent that the foreign black money holder had paid in 2015.

Sources said the government is keen to root out benami deposits, particularly in Jan Dhan accounts.

There was also talk of the government imposing a limit on domestic gold holding, but it is not clear if the proposal was discussed at the Cabinet meeting chaired by Prime Minister Narendra Modi on Thursday night.

The Cabinet meeting, summoned at a very short notice, comes amid reports of high tax penalty terrifying people from putting their cash savings in the formal banking system.

The sources said the government wants all of the Rs. 500 and Rs. 1,000 banknotes to be deposited and not burnt or destroyed for the fear of penal action.

The Income Tax Department had previously warned that cash deposits above Rs. 2.5 lakh threshold post demonetisation decision could attract tax plus a 200 per cent penalty in case of income mismatch.

It was stated that the department was tracking all cash deposited during the period of November 10 to December 30, 2016, above a threshold of Rs. 2.5 lakh in every account.

This had instilled fear in people with reports of the banned currency even being destroyed.

The sources added that the government may come out with a deposit scheme or an instrument like bond where the cash savings in the banned notes could be deposited.

A 50-day window was given to holders of the old currency to deposit in their bank accounts. But the penal tax provisions were deterring many.

Source : http://www.thehindu.com/

Discontinuation of Indian Postal Orders (IPOs)

Efficient booking, transmission and delivery arrangement for parcels during upcoming festive season-reg.

Directorate issued DA order @7% to GDS staff

Directorate directed circles not to issue admit cards for PS Gr. B examination but preparatory work continue

Respected Sir/Madam,

This is regarding conduct of the P.S. Group B Examination scheduled to be held on 04.12.2016

2. It is informed that CAT Ernakulam Bench has issued following directions dated 24.11.2016 in OA No. 180/953/2016 filed by Sh. Ajith Kurian, ASP, CO Kerala and others:-

“The respondent is directed to hold the examination separately for each vacancy year with a gap of minimum 40 days advance notice as per Appendix 37 of Postal manual Volume IV so that the applicants can avail the year-wise chance of appearing in the Examination. The respondents can notify the dates of five Examinations, if necessary, in advance, so that the applicants appearing in each year would get prior information of the dates”

3. In this connection, 12 Circles were provided with the details of the eligible candidates for issue of admit cards so far. It is requested that admit cards may not be issued to the candidates till further instructions from this office as the order of the CAT is being examined by this office. Meanwhile the preparatory work may be continued.

4. This issues with the orders of competent authority.

Regards,

ADG (DE)

24.11.2016

Hon'ble CAT Ernakulam Bench directed Department to hold examination separately for each vacancy year

S B order No. 13 / 2016 : WOS notes will be accepted only in PO Savings Bank Accounts and not in other accounts like RD, TD, MIS, SSA, SCSS, PPF, KVP, NSC etc.

Withholding Annual Increments of Non-performers after 20 Years

Press Information Bureau

Government of India

Ministry of Personnel, Public Grievances & Pensions

23-November-2016 17:04 IST 

Pay Hike

The 7th Central Pay Commission in its Report contained in Para 5.1.46 titled 'Withholding Annual Increments of Non-performers after 20 Years' has inter-alia recommended for withholding of annual increments in the case of those employees who are not able to meet the benchmark either for Modified Assured Career Progression (MACP) or a regular promotion within the first 20 years of their service. The Government of India vide Resolution No.1-2/2016-IC dated 25.7.2016 has accepted this recommendation. 

This was stated by the the Union Minister of State (Independent Charge) Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh in written reply to a question by Shri Ram Charitra Nishad in the Lok Sabha on 23-11-2016.

Cadre Restructuring of Group 'C' employees in Department of Posts - Clarification - reg.

Model Recruitment Rules for the various categories of posts in the Draughtsman cadre - reg.

Airtel launches India’s first Payment Bank with massive 7.25% interest on Savings Accounts

Airtel Payments Bank Limited or Airtel Bank, a subsidiary of Bharti Airtel Limited on Wednesday rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch. With this, Airtel Bank became the first payments bank in the country to go live. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services. Airtel Bank will commence the pilot with banking points at 10,000 Airtel retail outlets. Airtel Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year, giving a big boost to digital payments ecosystem.

Airtel Bank’s services can be accessed by Airtel customers on their mobile phones through the Airtel Money app, through USSD by dialing *400#; or via a simple IVR by dialing 400. Both the USSD & IVR options are available in Hindi and English language and work on simple feature phones as well. Non Airtel customers can access Airtel Bank’s services by dialing 8800688006. Customers can also visit any designated Airtel retail outlet to access services (and not just the outlet where they have opened the account). Airtel Banking points will offer bank account opening services and cash deposit & withdrawal facilities.

1. Digital Banking: Quick and paperless account opening using Aadhaar based e-KYC. This requires no documents at all, only the customer’s Aadhaar number is needed

2. Customer’s Airtel mobile number will be his/her bank account number

3. Interest rate of 7.25 % p.a. on deposits in savings accounts

4. Money transfer to any bank account in India (Free money transfer from Airtel to Airtel numbers within Airtel Bank)

5. Personal Accidental Insurance of Rs 1 Lac with every Savings Account

6. Deposit and withdrawal facility across a network of Airtel retail outlets

Vasundhara Raje, chief minister of Rajasthan, said, “Congratulations to Airtel for making Rajasthan the first state in India to have Airtel Payments Bank. This initiative, perfectly in sync with Hon’ble Prime Minister’s vision for financial inclusion and Digital India, will be a boon to residents in far flung areas who are yet to have access to formal banking. I look forward to Airtel reaching every corner of Rajasthan.”

Shashi Arora, MD & CEO, Airtel Payments Bank, said, “Airtel Payments Bank is fully committed to the Government’s vision of financial inclusion and banking for all. Airtel Payments Bank will play an important role in taking banking services to the last mile in a quick and efficient manner and benefit millions of unbanked citizens of this country. With this pilot, we have taken a big step towards the launch of our banking services and will be testing our operational readiness for full-scale launch across India. We would also like to use feedback from our customers to further improve our processes and look forward to serving them.”

On April 11, 2016, Airtel Bank became the first entity in India to receive a payments bank license from the Reserve Bank of India (RBI).

Source : http://www.financialexpress.com/

No service charge on debit card & smartphone transactions till Dec 31, says government

1) No service charges on use of debit cards till December 31.

2) For RUPAY cards all switching charges and other charges have been waived till December 31. 

3) No service charge will be levied on digital financial transactions using smartphones till Dec 31. 

4) New vehicles to come with Radio-Frequency Identification devices to ease e-payment of tolls at national highways. 

5) Service charge of Railway online ticketing has been waived off till 31st Dec 2016. 

6) All government organisations, have been advised to use only digital payment methods to make payment to their employees. 

7) Banks told to ensure chain of activities related crop loan sanction & flow of funds etc to be done in smooth manner. 

Das also stated that 82,000 ATMs have been re-calibrated so far. Further adding, that it is only a matter of few days by when all the ATMs will be re-calibrated.

Source : The Economic Times

PM invites views from the people, on decision taken regarding currency notes of Rs. 500 and Rs. 1000

Press Information Bureau
Government of India
Prime Minister's Office

22-November-2016 13:33 IST 

PM invites views from the people, on decision taken regarding currency notes of Rs. 500 and Rs. 1000

The Prime Minister, Shri Narendra Modi, has invited views from the people, on the recent decision taken by the Union Government regarding currency notes of Rs. 500 and Rs. 1000. 

People can submit their views through a survey consisting of 10 questions, which is available through the Narendra Modi App. Sharing the link to this survey, the Prime Minister tweeted today that he wants a first-hand view from the people, regarding this decision. 

The ten questions in the Survey are as follows: 

1. Do you think that black money exists in India? a. Yes b. No 

2. Do you think the evil of corruption and black money needs to be fought and eliminated? a. Yes b. No 

3. Overall, what do you think about the Government's moves to tackle black money?

4. What do you think of the Modi Government's efforts against corruption so far? Scale of 1 to 5 - outstanding, very good, good, ok, useless 

5. What do you think of the Modi Government's move of banning old Rs 500 & Rs 1000 notes? a. Great move in the right direction b. Good move c. Will make no difference 

6. Do you think demonetisation will help in curbing black money, corruption & terrorism? a. It will have an immediate impact b. There will be impact in medium to long term c. Minimal impact d. Don't know 

7. Demonetisation will bring real estate, higher education, healthcare in the common man's reach a. Completely Agree b. Partially Agree c. Can’t say

8. Did you mind the inconvenience faced in our fight to curb corruption, black money, terrorism and counterfeiting of currency? a. Not at all b. Somewhat, but it was worth it c. Yes 

9. Do you believe some anti-corruption activists are now actually fighting in support of black money, corruption & terrorism? a. Yes b. No 

10. Do you have any suggestions, ideas or insights you would like to share with PM Narendra Modi? 

This survey is in sync with the Prime Minister's vision of participative governance and directly seeking the views of the people of India on key policy and execution matters.

The Prime Minister has sought answers on very pointed and direct aspects of the decision of 500 and 1000 rupee notes ceasing to be legal tender. He has also sought feedback from the people on how to make the implementation stronger.

The Prime Minister's core beliefs of direct engagement with people are yet again on full display in the survey.

Declaration of undisclosed Black Money

Press Information Bureau

Government of India

Ministry of Finance

22-November-2016 17:53 IST 

Declaration of undisclosed Black Money

A total number of 64,275* declarants have made declaration of undisclosed income of Rs.65,250* crore under the Income Declaration Scheme, 2016. (*Provisional). Under the Income Declaration Scheme, 2016 the amount of tax, surcharge and penalty is payable in three instalments. The notified date for payment of first instalment is 30th November, 2016. Hence, the quantum of tax collected as part of the Scheme cannot be quantified at this stage.

Government has taken several measures, by way of policy initiatives and enforcement action, to curb black money. Such measures include –

(i) Constitution of the Special Investigation Team (SIT) on Black Money under Chairmanship and Vice-Chairmanship of two former Judges of Hon’ble Supreme Court.

(ii) Enactment of ‘The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015’ to specifically deal with the issue of black money stashed away abroad. The Act inter alia provides stringent provisions for concealment penalties (equal to three times the amount of tax payable) and contains stringent provision for prosecution.

(iii) Constitution of Multi-Agency Group (MAG) consisting of officers of Central Board of Direct Taxes (CBDT), Reserve Bank of India (RBI), Enforcement Directorate (ED) and Financial Intelligence Unit (FIU) for investigation of recent revelations in Panama paper leaks.

(iv) Proactively engaging with foreign governments with a view to facilitate and enhance the exchange of information under Double Taxation Avoidance Agreements (DTAAs)/Tax Information Exchange Agreements (TIEAs)/ Multilateral Conventions.

(v) Joining the Multilateral Competent Authority Agreement in respect of Automatic Exchange of Information (AEOI) and having information sharing arrangement with USA under its Foreign Account Tax Compliance Act (FATCA).

(vi) Renegotiation of DTAAs with other countries to bring the Article on Exchange of Information to International Standards and expanding India’s treaty network by signing new DTAAs and TIEAs with many jurisdictions to facilitate the exchange of information and to bring transparency.

(vii) Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money Laundering Act, 2002 through the Finance Act, 2015.

(viii) Enactment of the Benami Transactions (Prohibition) Amendment Act, 2016 to amend the Benami Transactions (Prohibition) Act, 1988 with a view to, inter alia, enable confiscation of Benami property and provide for prosecution. The provisions of the amended Prohibition of Benami Property Transaction Act, 1988 have come into effect from 01.11.2016.

(ix) Initiation of the information technology based ‘Project Insight’ by the Income Tax Department for strengthening the non-intrusive information driven approach for improving tax compliance and effective utilization of available information.

(x) Withdrawal of Rs.500 and Rs.1000 denominations of Bank Notes of the existing series issued by Reserve Bank of India vide Notification No.2652 [S.O.3407(E)] dated 08.11.2016.

(xi) Amendment of Rule 114B of the Income-tax Rules to mandate quoting of PAN, for transactions of sale or purchase of goods or services of any nature above Rs.2 Lakh.

This was stated by Shri Santosh Kumar Gangwar, Minister of State in the Ministry of Finance in written reply to a question in Rajya Sabha today.