Monday, May 27, 2013

ಗ್ರಾಚುಟಿ ಲೆಕ್ಕಾಚಾರ ಹೇಗೆ ಮಾಡೋದು?


Posted by: Mahesh 
 How Calculate Gratuity
 1 ಉದ್ಯೋಗದಾತರಿಂದ ಉದ್ಯೋಗಿಗಳಿಗೆ ಸಿಗುವ ಕೊಡುಗೆಗಳಲ್ಲಿ ಗ್ರಾಚುಟಿ ಕೂಡಾ ಒಂದಾಗಿದೆ. ಗ್ರಾಚುಟಿ ಅಧಿನಿಯಮದ ಪ್ರಕಾರ ಉದ್ಯೋಗಿ ನಿವೃತ್ತಿ ಹೊಂದಿದ 1 ತಿಂಗಳ ಒಳಗಾಗಿ ಕಡ್ಡಾಯವಾಗಿ ಗ್ರಾಚ್ಯುಟಿ ಹಣವನ್ನು ಪಾವತಿಸಬೇಕಾಗುತ್ತದೆ. ಉದ್ಯೋಗಿ ತನ್ನ ವೃತ್ತಿ ಬದುಕಿನಲ್ಲಿ ಹಲವಾರು ಬಾರಿ ಉದ್ಯೋಗ ಬದಲಾಯಿಸಬೇಕಾಗುತ್ತದೆ. ಗ್ರಾಚುಟಿ ಪಡೆದು ಉದ್ಯೋಗ ತೊರೆಯಬಹುದಾಗಿದೆ. ಗ್ರಾಚುಟಿ ಅಧಿನಿಯಮ 1972ರ ಪ್ರಕಾರ ಉದ್ಯೋಗಿಯ ಹೆಸರು ಸೇರ್ಪಡೆಗೊಂಡಿದ್ದರೆ, ಹಲವು ವಿಧಾನಗಳಲ್ಲಿ ಗ್ರಾಚುಟಿ ಮೊತ್ತವನ್ನು ಲೆಕ್ಕಾ ಹಾಕಲಾಗುತ್ತದೆ. ಈಗ ಒಬ್ಬ ಉದ್ಯೋಗಿ ಗ್ರಾಚುಟಿ ಪೇಮೆಂಟ್ ಕಾಯ್ದೆ 1972ಗೆ ಒಳಪಟ್ಟಿದ್ದರೆ, 15 ದಿನಗಳ ಸಂಬಳದ ಗ್ರಾಚುಟಿ ಮೊತ್ತವನ್ನು ಉದ್ಯೋಗಿಯ ಅನುಭವದ ವರ್ಷಗಳ ಜೊತೆ ಗುಣಿಸಿ ಲೆಕ್ಕ ಹಾಕಲಾಗುತ್ತದೆ ಸಂಬಳದ ಲೆಕ್ಕದಲ್ಲಿ ಮೂಲ ಸಂಬಳ, ಕೊನೆ ಬಾರಿ ಪಡೆದ ತುಟ್ಟಿಭತ್ಯೆ (DA) ಎಲ್ಲವೂ ಸೇರಿಸಲಾಗುತ್ತದೆ ನಂತರ ಮೊತ್ತವನ್ನು 26ರಿಂದ ಭಾಗಿಸಬೇಕಾಗುತ್ತದೆ. ಉದಾಹರಣೆಗೆ: ಉದ್ಯೋಗಿಗೆ ಮೂಲ ಸಂಬಳ(basic pay) ಪ್ರತಿ ತಿಂಗಳು 10,000 ರು ಸಂಬಳ ಬರುತ್ತಿದೆ ಎಂದುಕೊಳ್ಳೋಣ. ಇದರ ಜೊತೆಗೆ ತುಟ್ಟಿಭತ್ಯೆ(dearness allowance) ಸೇರಿಸಬೇಕು. ಜೊತೆಗೆ 10 ವರ್ಷದ ಅನುಭವ ಸೇರಿಸಿಕೊಳ್ಳಿ. ಗ್ರಾಚುಟಿ = ಕೊನೆ ಬಾರಿ ಪಡೆದ ಸಂಬಳ + 15/26 x ಔದ್ಯೋಗಿಕ ಅನುಭವ ವರ್ಷಗಳು ಈ ಉದಾಹರಣೆಯಂತೆ= 10000x15/26x10 = Rs 57,692 ಒಂದು ವೇಳೆ ಉದ್ಯೋಗಿಯ ಅನುಭವ 4.5 ಅಥವಾ ನಾಲ್ಕು ಮುಕ್ಕಾಲು ವರ್ಷ ಇದ್ದರೆ ಅದನ್ನು ಹತ್ತಿರದ ಸಂಖ್ಯೆಗೆ ರೌಂಡ್ ಆಫ್ ಮಾಡಲಾಗುತ್ತದೆ. ಇದರ ಜೊತೆಗೆ ಸಂಸ್ಥಯಲ್ಲಿ ಉದ್ಯೋಗಿ ನಡೆದುಕೊಂಡ ರೀತಿ, ಉದ್ಯೋಗಿ ಪ್ರಗತಿ ವರದಿ, ಸಂಸ್ಥೆಗೆ ಹಾನಿ ಮಾಡಿದ್ದರೆ ಗ್ರಾಚುಟಿ ಮೊತ್ತ ಮುಟ್ಟುಗೋಲು ಹಾಕಿಕೊಳ್ಳಬಹುದಾಗಿದೆ. ಗ್ರಾಚುಟಿ ಮೊತ್ತವನ್ನು ಪಡೆಯಲು ಕನಿಷ್ಠ 5 ವರ್ಷಗಳ ಒಂದೇ ಸಂಸ್ಥೆಯನ್ನು ಔದ್ಯೋಗಿಕ ಅನುಭವ ಪಡೆದಿರಬೇಕಾಗುತ್ತದೆ. ಆದರೆ, ಕರ್ತವ್ಯ ನಿರತ ಉದ್ಯೋಗಿ ಮೃತಪಟ್ಟ ಸಂದರ್ಭದಲ್ಲಿ ಒಂದು ವರ್ಷಗಳ ನಿಯಮ ಸಡಿಲಿಕೆಗೆ ಅವಕಾಶವಿದೆ. ನಿವೃತ್ತಿ ಹೊಂದುವ ತನಕ ಉದ್ಯೋಗದಾತರು ಉದ್ಯೋಗಿಗಳಿಗೆ ನೀಡುವ ಉತ್ತಮವಾದ ಸೌಲಭ್ಯವಾಗಿ ಗ್ರಾಚುಟಿ ಬಳಕೆಯಲ್ಲಿದೆ.

ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಎಂದರೇನು?
 Written by: Bimlesh Singh 
 What Is Money Laundering
 ನಿಮ್ಮ ಮನೆಯಲ್ಲಿ ಬಟ್ಟೆಗಳನ್ನು ಲಾಂಡ್ರಿಗೆ ಕೊಟ್ಟು ಸ್ವಚ್ಛಗೊಳಿಸುತ್ತಿರಲ್ಲ. ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಕೂಡಾ ಅದೇ ರೀತಿ ಎಫೆಕ್ಟ್ ಹೊಂದಿದೆ. ಲಾಂಡ್ರಿಂಗ್ ಮೂಲಕ ಬಟ್ಟೆಗಳ ಕೊಳಕು ತೆಗೆದು ಶುಭ್ರಗೊಳಿಸುವಂತೆ, ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಕೂಡಾ ಕಾಳಧನ(ಡರ್ಟಿ ಮನಿ?)ವನ್ನು ಕ್ಲೀನ್ ಆಗಿ ತೋರಿಸುತ್ತದೆ. ಕಾಳಧನ ಎಂದರೆ ಅಕ್ರಮವಾಗಿ ಕೂಡಿಟ್ಟ ಹಣ. ಲಂಚ, ವಂಚನೆ, ಇತರೆ ಕ್ರೈಂಗಳ ಮೂಲಕ ಸಂಗ್ರಹವಾದ ನಗದು ಹಣವನ್ನು ಬ್ಲ್ಯಾಕ್ ಮನಿ ಎನ್ನಬಹುದಾದರೆ ಈ ಬ್ಲ್ಯಾಕ್ ಮನಿಯನ್ನು ವೈಟ್ ಮನಿ ರೀತಿಯಲ್ಲಿ ತೋರಿಸುವುದನ್ನೇ ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಎನ್ನಲಾಗುತ್ತದೆ. ಕಾಳಧನಕ್ಕೆ ಯಾವುದೇ ತೆರಿಗೆ ಕಟ್ಟುವುದಿಲ್ಲ ಎನ್ನುವುದು ಎಲ್ಲರಿಗೂ ಗೊತ್ತಿರುವ ವಿಷಯ. ಜಾರಿ ನಿರ್ದೇಶನಾಲಯ, ತೆರಿಗೆ ಇಲಾಖೆ ಕಣ್ಣಿಗೆ ಬಿದ್ದು ಹಣ ಜಪ್ತಿಯಾಗುವ ಭೀತಿ ಎದುರಾದಾಗ ಡರ್ಟಿ ಮನಿಯನ್ನು ಸ್ವಚ್ಛ ನಗದಾಗಿ ಪರಿವರ್ತಿಸಲು ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಬಳಸಲಾಗುತ್ತದೆ. ಕರ್ನಾಟಕದಲ್ಲಿ ಗಣಿಗಾರಿಕೆ ದುಡ್ಡು, ಹಲವು ರಾಜಕಾರಣಿಗಳು ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ನಲ್ಲಿ ಭಾಗಿಯಾಗಿರುವ ಬಗ್ಗೆ ಕೇಳಿರುತ್ತೀರಿ. ಇತ್ತೀಚೆಗೆ ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಖಾಸಗಿ ಬ್ಯಾಂಕಿಂಗ್ ವಲಯವನ್ನು ತಲ್ಲಣಗೊಳಿಸಿದೆ. ಅಕ್ರಮ ಹಣ ಸಂಗ್ರಹ, ರವಾನೆ ತಡೆಗಟ್ಟಲು ನಿಯಂತ್ರಣ ಸಂಸ್ಥೆಗಳು ಕಠಿಣ ಕ್ರಮಗಳನ್ನು ಜರುಗಿಸುತ್ತಿವೆ. ಆದರೆ, ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಭಾರತಕ್ಕೆ ಮಾತ್ರ ಸೀಮಿತವಾಗಿಲ್ಲ. ಇದು ಜಾಗತಿಕ ಪಿಡುಗಾಗಿದೆ. ಸಾಮಾಜಿಕ ಹಾಗೂ ಆರ್ಥಿಕ ಪರಿಣಾಮವನ್ನು ಬೀರಿದೆ. ಮನಿಲಾಂಡ್ರಿಂಗ್ ಪರಿಣಾಮದ ಬಗ್ಗೆ ಸ್ವಲ್ಪ ತಿಳಿದು ಕೊಳ್ಳೋಣ ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಆರ್ಥಿಕವಾಗಿ ಭಾರಿ ಪರಿಣಾಮ ಬೀರುತ್ತದೆ. ಲಾಂಡ್ರಿಂಗ್ ಆದ ಹಣಕ್ಕೆ ಯಾವುದೇ ತೆರಿಗೆ ಪಾವತಿ ಆಗಿರುವುದಿಲ್ಲ. ಹೀಗಾಗಿ ಅದು ಲೆಕ್ಕಕ್ಕೆ ಸಿಗುವುದಿಲ್ಲ. ಕಾನೂನು ವ್ಯಾಪ್ತಿಗೆ ಒಳಪಡುವ ಸಂಸ್ಥೆಗಳ ಮೂಲಕ ಈ ಹಣ ಎಲ್ಲೆಡೆ ಹರಿದಾಡುತ್ತದೆ. ಆದರೆ, ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಲಾಭ ಪಡೆಯುತಿರುವ ಕಂಪನಿಗಳು ಅಕಸ್ಮಾತ್ ಸಿಕ್ಕಿಬಿದ್ದರೆ ಅಥವಾ ದಿವಾಳಿಯಾದರೆ ಅಲ್ಲಿಗೆ ಕಥೆ ಮುಗಿದ ಹಾಗೆ ಲೆಕ್ಕ. ಕಂಪನಿಯಾಗಲಿ, ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ಮಾಡಿದ ವ್ಯಕ್ತಿಯಾಗಲಿ ಹೂಡಿಕೆ ಮಾಡಿದ ಹಣ ಯಾವುದೇ ಆರ್ಥಿಕ ಲಾಭ ಸಿಗದೆ ದೇಶಕ್ಕೆ ಹೊರೆಯಾಗುತ್ತದೆ. ತೆರಿಗೆ ಕೂಡಾ ಕಟ್ಟಿಲ್ಲದಿರುವುದರಿಂದ ಅನಗತ್ಯ ಆರ್ಥಿಕ ಹೊರೆ ಭಾರ ಜನ ಸಾಮಾನ್ಯರ ಮೇಲೂ ಬೀಳುತ್ತದೆ. ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ನಿಂದಾಗಿ ಸುಳ್ಳು ಸುಳ್ಳೆ ಬೇಡಿಕೆ ಹೆಚ್ಚಳ ಹಾಗೂ ಪೂರೈಕೆ ಬೇಡಿಕೆ ಹೆಚ್ಚಾಗುತ್ತದೆ. ಇದರಿಂದ ಆರ್ಥಿಕ ಸಾಮಾಜಿಕ ಸಮತೋಲನ ವ್ಯತ್ಯಯವಾಗುತ್ತದೆ. ದೇಶದ ಜಿಡಿಪಿ, ಆಮದು ರಫ್ತು ಸೇರಿದಂತೆ ಅನೇಕ ಅಂಶಗಳ ಮೇಲೆ ನೇರ ಪರಿಣಾಮ ಬೀರುತ್ತದೆ. ಹಲವು ಕ್ರಿಮಿನಲ್ ಮೂಲಗಳಿಂದ ಸಂಗ್ರಹವಾದ ಹಣ ಲಾಂಡ್ರಿಂಗ್ ಆದಮೇಲೆ ಇನ್ನಷ್ಟು ಕ್ರಿಮಿನಲ್ ಚಟುವಟಿಕೆಗಳಿಗೆ ಉತ್ತೇಜಿಸುವ ಸಾಧ್ಯತೆ ಅಧಿಕವಾಗಿದೆ. ಯಾವುದೇ ದೇಶವಿರಲಿ ಆರ್ಥಿಕವಾಗಿ, ಸಾಮಾಜಿಕವಾಗಿ ಮನಿ ಲಾಂಡ್ರಿಂಗ್ ದೊಡ್ಡ ಪಿಡುಗಾಗಿ ಪರಿಣಮಿಸಿದ್ದು, ಭ್ರಷ್ಟಾಚಾರದ ಬೇರಾಗಿ ಎಲ್ಲೆಡೆ ವ್ಯಾಪಿಸುತ್ತಿದೆ.SOURCE----http://kannada.goodreturns.in


Availing of LTC (Leave Travel Concession) in current 

block year


Everyone knows that all central government employees can avail LTC through their respective department and can use this opportunity for travelling to any part India. This concession can be availed in block years.  A block year consists of four calendar years. As far this block year is concerned, this year 2013 is the last year in this particular block year – i.e. 2010-2013.
 
                Employees can use this opportunity this year itself without waiting for an extension in the next year. In the last couple of years the block years were extended for another one year for the benefit of many of our employees who are not utilizing it properly. In JCM Meetings, Trade unions and Federations are demanding more facilities in LTC like Air Travel from anywhere in India. Now employees can travel to Jammu & Kashmir and North Eastern States by air. The government has informed that only about 20% of the employees are utilizing this concession.
 
                Going for vacation to different places with family and friends gives the entire family, a fresh atmosphere.  Mingling with friends and other people in different places nourishes our thoughts and minds. In foreign countries, going for a vacation is encouraged very much. To conclude, all central government employees should grab this golden opportunity to travel to any part our country and can enjoy their vacation.
 
The Union Cabinet today approved the Special Recruitment Drive launched to fill up the backlog in reserved vacancies of the Scheduled Castes (SCs), Scheduled Tribes (STs) and Other Backward Classes (OBCs). . Click here to see the details.

Friday, May 17, 2013

Study Group Report on Enhancement of GDS Bonus ceiling to Rs 3500/-

Click here to view the study Group report  dated 11.01.2013 on Enhancement of GDS Bonus ceiling to Rs 3500/-.

Tuesday, May 14, 2013

Finance ministry opposes India Post’s banking licence plan


ministry opposes India Post’s banking licence plan
Ministry says postal service doesn’t have the expertise needed in handling credit or the ability to manage a bank
 
India Post is keen to set up a commercial bank called the Post Bank of India, arguing that it can significantly boost financial inclusion in Asia’s third largest economy through its nationwide network of 155,000 post offices. Photo: Mint
India Post is keen to set up a commercial bank called the Post Bank of India, arguing that it can significantly boost financial inclusion in Asia’s third largest economy through its nationwide network of 155,000 post offices. Photo: Mint
Also Read
Mumbai: The finance ministry has opposed India Post’s plan to seek a commercial banking licence from the Reserve Bank of India (RBI) on grounds that the postal service doesn’t have the expertise needed in relevant areas, such as handling credit.
India Post is keen to set up a commercial bank called the Post Bank of India, arguing that it can significantly boost financial inclusion in Asia’s third largest economy through its nationwide network of 155,000 post offices.
This will also allow the organization, which posted a loss of Rs.6,346 crore in fiscal 2012, to make up for business dropping off over the years as letter writing dwindled and private courier firms took away market share.
Losses have significantly increased in recent years on account of higher expenses.
However, the finance ministry’s department of financial services doubts India Post’s ability to set up and run a bank, according to a senior postal department official who didn’t want to be named.
Some of the country’s large public sector banks have also been lobbying against the proposal, concerned that India Post, with its vast branch network, could pose a threat to their business, said the official, who’s directly involved with the proposal.
“The larger idea of setting up a bank is to further the cause of financial inclusion. Entry of India Post into banking can significantly help address this situation,” the official said.
However, “They (finance ministry officials) are asking too many questions. Why (do) you need a bank? What is your expertise to run a bank?” the official said.
India Post is engaged in several related functions, such as running a savings bank scheme, selling tax-saving instruments and accepting public provident fund deposits. The government also uses post office accounts to route payments to beneficiaries as part of the rural jobs programme and the direct transfer of subsidies.
A former government official said the postal department should focus on its existing business.
“It is totally illogical for the postal department to enter into banking. They do not have the experience in handling credit or the ability to manage a bank,” said D.K. Mittal, who was finance secretary till recently.
“Mere experience in collecting deposits under the post office scheme is not enough. The department should ideally focus on improving their core activity.”
According to Mittal, the department should adopt new technology and try to become profitable instead of diversifying operations.
Emails to financial services secretary Rajiv Takru last week remained unanswered.
RBI invited applications from private and public sector entities in February to set up banks, three years after former finance minister Pranab Mukherjee made the suggestion and nine years after the last round of licences were issued.
The application deadline expires on 1 July. The minimum capital required by applicants is Rs.500 crore.
Companies that have expressed interest in starting banks include L&T Finance Holdings Ltd, India Infoline Ltd, Religare Enterprises Ltd, Aditya Birla Financial Services Group, Mahindra and Mahindra Financial Services Ltd, LIC Housing Finance Ltd, Bandhan Financial Services Pvt. Ltd, Janalakshmi Financial Services Pvt. Ltd, Tata Capital Ltd, IDFC Ltd, Reliance Capital Ltd, India Infrastructure Finance Co. Ltd, Bajaj Finserv Ltd and Srei Infrastructure Finance Ltd.
Despite the finance ministry’s reservations, India Post is determined to go ahead with its application and has appointed consultancy firm Ernst and Young (E&Y) India to advise it on the plan, officials said.
The department is still in consultation with various ministries on the modalities of setting up a new bank.
While the plan is almost two decades old, the department got serious about it sometime in 2006, conducting internal viability studies and seeking the opinion of consultancy firms.
The move gathered momentum when RBI announced final licensing norms for new banks in February.
According to an interim report submitted by E&Y India in April, the proposed Post Bank of India will focus on the bottom of the pyramid, or the poor, in non-metro centres and avoid urban areas that are already well served by large banks.
“The existing deposit holders under the post office savings bank scheme will have an option to transfer their deposits to the bank if they choose to do so,” said the postal department official cited earlier in the story.
In the initial phase, the Post Bank will have 300-400 branches and a specific number of postal outlets will be managed by each of them.
According to the official, the department of posts plans to introduce an advanced technology platform that will connect all post office branches. It has also studied models of post offices that run banks in Germany and Japan.
E&Y will soon submit its final report to the postal department, said Ashvin Parekh, partner (financial services).
“There have been some concerns raised by the finance ministry regarding the proposal,” he said. “We are in the process of submitting our final report, which will...answer all...concerns.”
Financial inclusion, or ensuring that more of the country’s citizens become part of the banking system, has been a key aim of both the central bank and the Congress-led United Progressive Alliance government for several years. About 40% of India’s population still do not have access to formal financial services.
RBI introduced a three-year financial inclusion programme in April 2010 that saw banks opening outlets in 200,000 villages. RBI has advised banks to draw up a financial inclusion plan for 2013-2016 to further broaden access.
India Post will pitch its vast branch network as an advantage in this direction, although the current state of some of these outposts isn’t likely to inspire much confidence in those looking for a safe place to keep their money.
Out of the total 154,866 post offices, 139,040 are in rural areas. About 6,000 people are covered on average by a post office in rural areas and about 24,000 in urban areas, according to a 2011 estimate by the postal department.
As of 31 March, the outstanding balance under the post office savings scheme stood at Rs.6.05 trillion, which is equivalent to half the deposits of government-owned State Bank of India, the country’s largest commercial bank, and double that of the largest private lender, ICICI Bank Ltd.
E&Y’s Parekh said: “The idea is not to convert the existing post office savings into a bank. The plan is to create a completely new bank. Hence there won’t be any large requirement of capital in the beginning,”
As for the finance ministry’s concerns about lack of credit experience, Parekh said: “This can be built up gradually.”
SOURCE---

Wednesday, May 8, 2013

PLI RATE OF BONUS FOR THE YEAR 2010-2011





Vacancies in Government Departments

As per available information, the details of number of sanctioned posts, number in position and vacancies in Central Government posts as on 1st March, 2011 was as under:

Number of Sanctioned Posts
Number in Position
Number of Vacant Posts
Group A
98977
84474
14503
Group B
228755
192728
36027
Group C
3335797
2804736
531061
Total vacancies
581591
Details of vacancy position in respect of reserved posts and details of backlog vacancies in Central Government Departments is not centrally maintained. A Special Recruitment Drive was launched in 2008 to fill up the backlog reserved vacancies of Scheduled Caste (SC)/Scheduled Tribe (ST)/ Other Backward Classes (OBC), which continued till 31.03.2012. The details of recruitment/ appointments made during the drive were as under:

Direct Recruitment
Promotion
Total

Backlog
Filled up
Backlog
Filled up
Backlog
Filled up
SC
10955
7797
13458
9655
24413
17452
ST
11400
7051
17637
9791
29037
16842
OBC
22072
13740
Not applicable
Not applicable
22072
13740
Total
44427
28588
31095
19446
75522
48034
The vacancies are filled as per the provisions of the Recruitment Rules and if Recruitment Rules permit lateral entry, the backlog vacancies may also be filled through the lateral entry route.
This was stated by Shri V. Narayanasamy, Minister of State in the Ministry of Personnel, Public Grievances and Pension and Minister of State in the Prime Minister’s Office in written reply to a question by Shri Ashok Kumar today.

Friday, May 3, 2013

  QUESTIONS & ANSWER KEY OF PA/SA CADRE EXAMINATION HELD ON 21/04/2013 AVAILABLE



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(After the document opens goto Files --> Download As --> Microsoft word[.docx])

POST OFFICE SAVINGS BANK – SCHEMES AND INTEREST RATES w.e.f. 01.04.2013


Sl. No
SAVINGS
SCHEME
DEPOSIT PERIOD
INTEREST RATE
DEPOSIT LIMITS
FEATURES & TAX CONCESSIONS
1
Savings Account
(SB)
-
4 % per annum
(Interest will be added to the A/c on 1st April of every year)
Minimum Balance:
Rs.50-  (for Ordinary A/c)
&
Rs.500-  (for Cheque A/c)
Savings Account with the facility of making Deposits and withdrawals whenever the depositor wants through cash/cheque.
Can be used for crediting the interest of MIS/SCSS/TD Accounts and for debiting the monthly RD deposit amount every month automatically.
2
Recurring
Deposit
(RD)
5 Years
8.3 % Quarterly
Compound Interest
(Approximately Equal to
9.48% p.a simple interest)
For example:
Maturity for denomination of
Rs.100-   will be Rs.  7,445-
Rs.200-   will be Rs.14,891-
Rs.500-   will be Rs.37,227-
Minimum Denomination:
Rs.10- per Month
Maximum:
No limit
Deposit can be made in multiple of Rs.5-
Monthly deposit scheme with fixed denomination.
Suitable for Salaried people and for Monthly saving investors
Penalty fee @Re.1 for Rs.50- denomination will be collected for one default month if the monthly deposit not made within the last date.
Account cannot be continued if it has six default months.
Rebate amount will be given for advance deposit for 6/12 months.
A/c Can be closed after 3 years only (with SB rate of Interest)
50% amount in the A/c can be taken as loan after 1 year if eligible.
A/c can be extended with or without deposits for further period of 1/2/3/4/5 years.
3
Monthly
Income
Scheme
(MIS)
5 Years
8.4 % per annum
(Payable every Month)
For Example:
Rs.1050- p/m for Deposit Rs.1,50,000-
Rs.3150- p/m for Deposit Rs.4,50,000-
Maximum :
Rs.4,50,000- (for Single A/c)   &
Rs.9,00,000- (for Joint A/c)
Deposit can be made in multiple of Rs.1500-
Useful scheme for pensioners and people those who want to get Monthly income on their deposits.
No bonus from 01.12.2011
A/c can be closed after 1 year with deductions.
For higher interest:
If the Monthly Interest is automatically credited into RD account every month, total returns will be around 10.4% p.a
4
Senior
Citizen
Savings
Scheme
(SCSS)
5 Years
9.2 % per annum 
Payable Quarterly,
(4 times in a year)
(Quarterly interest shall be payable on the Last working day of March, June, September, December)
Maximum Limit:
Rs.15,00,000-
Deposit can be made in multiple of Rs.1000-
Amount exceeding
Rs.99, 000- should be made by Cheque only.
Useful for pensioners/Senior citizens who want to get periodical income from their deposit amount. (Deposit also eligible for Income tax rebate)
Minimum Age:  60 Years and For persons who retired on VRS : 55 Yrs
Single and Joint A/c (with spouse only) can be opened.
A/c can be closed after 1 year with deductions.
TDS will be deducted on interest earned if the interest is more than
Rs.10, 000/- p.a. 
(If form 15-G/H is given every year TDS will not be deducted)
5
Time
Deposit
(TD)
1 year
2 year
3 year
5 year
Below mentioned interests are Quarterly Compound interests and payable every year.

Quarterly              Equivalent
Compound            Simple Interest
Interest
 8.2 % QCI       =  8.46 % p.a
 8.2 % QCI       =  8.46 % p.a
 8.3 % QCI       =  8.56 % p.a
 8.4 % QCI       =  8.67 % p.a
Deposit can be made in multiple of Rs.200-
No maximum limit on deposits
Useful scheme for persons who want to deposit their Money for a specific period like 1/2/3/5 years
Can be closed after 6 months only with SB rate of Interest.
If the A/c (except 1 yr T.D) closed after one year, 1 % interest will be deducted on the interest rate of Completed year TD.
5 year TD amount eligible for income tax benefit under section 80C.
6
Public Provident Fund
(PPF)
15 years
8.7 % per annum *
(compounded yearly)
Note:
* Interest rate that changes from time to time will be applicable for the balance in the A/c
Minimum amount:
Rs.500- per Financial Year.
Maximum deposit:
Up to Rs.1, 00,000- in a financial year.
Useful scheme for Income Tax payers as the PPF Deposits qualify for deduction from income under Sec. 80C of IT Act.
Interest is completely tax-free.
One Withdrawal is permissible every year from 7th financial year.
Loan facility available from 3rd financial year.
PPF can be opened by any adult in his/her name and in the name of a Minor as a Guardian.
Maximum 12 deposits can be made in a year
7
National
Savings
Certificate
(NSC
VIII issue)
5 year
8.5 %
half-yearly compound interest
(payable at the time of maturity)
which is equivalent to simple interest rate of 10.32 % p.a
Certificates Available in
Rs.100-, Rs 500-, Rs.1000-,Rs. 5000-, Rs.10000-
Denominations
No maximum limit on investment.
Useful scheme for Income Tax payers as the NSC investments qualify for tax rebate under Sec. 80C of IT Act.
Can be encashed on maturity only (i.e., after 5 years).
Loan can be taken by pledging the NSC bonds at nationalized banks.
Maturity amount for Rs.10,000- NSC will be Rs.15,162- after 5 years
8
National
Savings
Certificate
(NSC
IX issue)
10 year
8.8 %
half-yearly compound interest
(payable at the time of maturity)
which is equivalent to simple interest rate of 13.65 % p.a
Certificates Available in
Rs.100-, Rs.500-, Rs.1000- ,Rs.5000-,Rs.10000- Denominations
No maximum limit on investment
Useful scheme for Income Tax payers as the NSC investments qualify for tax rebate under Sec. 80C of IT Act.
Can be encashed on maturity only (i.e., after 10 years).
Loan can be taken by pledging the NSC bonds at Nationalized banks
Maturity amount for Rs.10,000- NSC will be Rs.23,660- after 10 years