PJCA MEETING OF PJCA LEADERS WITH SECRETARY POSTS HELD AT DAK BHAWAN, NEW DELHI 0N 30.04.2015 IN CONNECTION WITH STRIKE CHARTER OF DEMANDS. TALKS INCONCLUSIVE. KEEP THE TEMPO ON.
Thursday, April 30, 2015
Wednesday, April 29, 2015
Tuesday, April 28, 2015
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
UNSTARRED QUESTION NO.163
TO BE ANSWERED ON 24TH APRIL, 2015
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?
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.
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.
UNCLAIMED AMOUNT UNDER VARIOUS OLD POSTAL SAVINGS SCHEMES
Scheme–wise details of unclaimed amount in Post Office Savings Bank
Amount in Rs. crores
Mahila Samriddhi Yojna
15 year Cumulative Time Deposit
Indira Vikas Patra
National Development Bonds
National Defence Certificate
10 years National Defence Deposit Certificate
10 years National Plan Savings Certificate
5 years National Savings Certificate
National Savings Certificate (III)
National Savings Certificate (IV)
Monday, April 27, 2015
Instructions on exemption from passing the Typewriting Test on Computer in respect of LDC
Instructions on exemption from passing the Typewriting Test on Computer in respect of LDC
G.I., Min. of Finance, O.M. F.No. 14020/ 1 /2014-Estt. (D), dated 22.04.2015
Subject:- Instructions on exemption from passing the Typewriting Test on Computer in respect of LDCs, regarding.
The undersigned is directed to say that instructions issued by this Department vide O.M.No.14020/2/91-Estt(D) dated 29th September, 1992 provide for grant of exemption from passing the typing test for drawal of increments and confirmation in respect of LDCs.
2(i) . The above mentioned instructions provide for exemptions as under:-
a) If above 45 years of age on the date of their appointment, such persons may be granted exemption from the date of their appointment.
b) If between the age of 35 years and 45 years at the time of their appointment, such persons may be granted exemption on attaining the age of 45 years.
c) If below 35 years of age on the date of appointment, such persons may be given exemption after 10 years of service as LDC provided they have made two genuine attempts to pass the typing test; otherwise they may be granted exemption after attaining the age of 45 years.
d) Those LDCs who have made two genuine attempts for passing the typing test prior to issue of this OM but have not completed 8 years service as LDC, may be granted exemption from passing the typing test after completion of 8 years of service or on attaining the age of 45 years, whichever is earlier.
(ii) For the Physically handicapped persons, these instructions provide for exemptions as under:-
a) Physically handicapped persons who are otherwise qualified to hold clerical post and who are certified as being unable to type by the Medical Board attached to Special Employment Exchanges for the Handicapped (or by a Civil Surgeon where there is no such Board) may be exempted from passing the typing test.
b) The term ‘physically handicapped persons’ does not cover those who are visually handicapped or who are hearing handicapped but cover only those whose physical disability permanently prevents them from typing.
3. Model RRs for the post of Lower Division Clerk (LDC) were issued vide this Department’s O.M.No.AB-14017/32/2009-Estt(RR) dated 7th October, 2009. The entries pertaining to Skill Test Norms prescribed in the Col. 8 of the Model RRs for the post of LDC were modified to include the Skill Test Norms ‘only on computers’ vide this Department’s O.M.No.AB-14017/32/2009-Estt(RR) dated 17) 11th May, 2010.
4. This Department has received references whether the instructions as contained in this Department’s OM dated 29.9.1992 are applicable for test on Computer or not. The matter has been examined and it has been decided that the criteria for grant of exemption from passing the typing test in respect of such LDCs including Physically Handicapped persons/Persons with Disabilities as stipulated in this Department’s O.M.No.14020/2/91-Estt(D) dated 29th September, 1992 would also be applicable to the test on Computers.
5. It has also been decided to extend the above instructions to Sports persons recruited against Sports quota under the Scheme of appointment of meritorious Sports persons.
Source : www.persmin.gov.in
LTC entitlements of unmarried Government servants – Conversion of Home Town LTC facility
LTC entitlements of unmarried Government servants – Conversion of Home Town LTC facility into travel to different parts of the country permissible under the special dispensation scheme
“facility of conversion of Home Town LTC to allow travel to different parts of the country, under the special dispensation scheme, will also apply to an unmarried Central Government servant, who is eligible to avail the benefit of LTC to visit Home Town every year. This facility may be availed by converting one occasion of Home Town LTC out of the four Home Town LTC occasions available in a block of four years.”
G.I., Dept. of Pers. & Trg., O.M.F.No.31011/1/2013-Estt (A.IV), dated 21.04.2015
Subject:- Leave Travel Concession (LTC) entitlements of unmarried Government servants – Conversion of Home Town LTC facility into travel to different parts of the country permissible under the special dispensation scheme – Clarification — regarding.
In relaxation to the Central Civil Services (Leave Travel Concession) Rules, 1988, special dispensation is allowed to the Government servants from time to time. Presently, one such dispensation in operation is the relaxation to the Government servants to travel by air to visit North-East Region or to Jammu & Kashmir or to the Andaman & Nicobar Islands by converting one block of Home Town LTC available to them.
2. Vide this Department’s Office Memorandum No. 31011/17/85-Estt.(A) dated 03.04.1986, unmarried Central Government employees, who have left their wholly dependent parents/sisters/minor brothers at their home town are allowed the benefit of LTC to visit their home town every year. This concession is in lieu of all other LTC facilities admissible to the Government servant himself and to his/her parents/sisters/minor brothers.
3. This Department is in receipt of references seeking clarification on the admissibility of conversion of Home Town LTC facility into travel to different parts of the country, which is permissible under special dispensation, to such unmarried Government servants.
4. The matter has been examined in consultation with Ministry of Finance. It has been decided that the facility of conversion of Home Town LTC to allow travel to different parts of the country, under the special dispensation scheme, will also apply to an unmarried Central Government servant, who is eligible to avail the benefit of LTC to visit Home Town every year. This facility may be availed by converting one occasion of Home Town LTC out of the four Home Town LTC occasions available in a block of four years.
Source : www.persmin.gov.in
Sunday, April 26, 2015
Wednesday, April 22, 2015
Wednesday, April 22, 2015
PROVIDENT FUND INTEREST RATE 2015-16 FIXED AT 8.7%
MINISTRY OF FINANCE
Government Decides to Fix Interest Rates at 8.7% for General Provident Fund(GPF) and other Similar Funds Including Special Deposit Scheme, 1975(SDS,1975) for Non-Government Provident, Superannuation and Gratuity Funds for the Financial Year 2015-16.
It was decided by the Government to link the interest rates of State PFs (General Provident Fund and other similar funds) including Special Deposit Scheme, 1975 (SDS, 1975) for Non-Government Provident, Superannuation and Gratuity Funds for the FY 2015-16 to Public Provident Fund (PPF) rates. In pursuance of that decision, the Government has decided to fix the rates 8.7% per annum applicable to the following:-
· The General Provident Fund (Central Services).
· The Contributory Provident Fund (India).
· The All India Service Provident Fund.
· The State Railway Provident Fund.
· The General Provident Fund (Defence Services).
· The Indian Ordnance Provident Fund.
· The Indian Ordnance Factories Workmen’s Provident Fund.
· The Indian Naval Dockyard Workmen’s Provident Fund.
· The Defence Services Officers Provident Fund.
· The Armed Forces Personnel Provident Fund.
The rate of interest is applicable to the above funds w.e.f. 1st April, 2015 and until further orders.
Recently, the Government had kept the interest rates for PPF and other Small Savings Schemes intact. However, interest rates for 5 year Senior citizen Saving Scheme and Sukanya Samriddhi Account Scheme have been increased from 9.2 to 9.3% and 9.1 to 9.2% respectively, keeping in view the commitment of the Government towards the welfare of the girl child and the senior citizens. DSM/KA : 21.04.2014
Tuesday, April 21, 2015
MARCH TO PARLIAMENT
DELHI CHALO !
28TH APRIL 2015
FIVE LAKHS CENTRAL GOVT. EMPLOYEES MARCH TO PARLIAMENT.
CLARION CALL OF JCM NATIONAL COUNCIL STAFF SIDE
FOR SETTLEMENT OF TEN POINTS CHARTER OF DEMANDS.
INDEFINITE STRIKE IF DEMANDS ARE NOT SETTLED BY GOVT.
RAILWAY FEDERATIONS, DEFENCE FEDERATIONS AND CONFEDERATION OF CENTRAL GOVT. EMPLOYEES AND WORKERS WILL SPEARHEAD THE NATIONWIDE STRU
ALL AFFILIATES OF CONFEDERATION AND ALL STATE COMMITTEES (C-O-CS) ARE ONCE AGAIN REQUESTED TO ENSURE MAXIMUM PARTICIPATION OF EMPLOYEES IN THE RALLY AS PER QUOTA ALREADY FIXED AND CIRCULATED. PLEASE BRING FLAGS, BANNERS AND PLAYCARDS ALSO.
COME IN THOUSANDS TO MAKE THE RALLY THE BIGGEST RALLY IN THE HISTORY OF CENTRAL GOVT. EMPLOYEES. LET US DEMONSTRATE THE ANGER, PROTEST AND DETERMINATION OF THIRTY LAKHS CENTRAL GOVT. EMPLOYEES IN FRONT OF NARENDRA MODI GOVERNMENT.
CONFEDERATION OF CGE&W
P3 UNION HAS BOOKED THE FOLLOWING HALL FOR STAYAL AT DELHI ON 27.04.2015 & 28.04.2015 (NIGHT ALSO) IN CONNECTION WITH PARLIAMENT MARCH AT JANTAR MANTAR, NEW DELHI ON 28.04.2015.
KHAMPUR CHAUPAL (MARRIAGE HALL)
(METRO PILLAR 224 OPPOSITE)
NEAR SHADIPUR METRO STATION
NEW PATEL ROAD
SHADIPUR, PATEL NAGAR, NEW DELHI- 110008
1. NO FOOD ARRANGEMENT. ALL SHALL MAKE THEIR OWN ARRANGEMENTS.
2. IF ANYBODY WANTS FOR SPECIAL AND COMFORTABLE STAY, THEY MAY DO THEIR OWN ARRANGEMENT. SO MANY LODGES ARE AVAILABLE NEAR NEWDELHI RAILWAY STATION.
Subscribe to: Posts (Atom)