REVISION OF INTEREST RATES FROM 01-04-2013

 

 

 

 

Interest rates for post office savings schemes cut

Millions of small savers and PPF account holders would be earning less on their post office savings schemes, with the government deciding to reduce interest rates on them marginally by 0.10 per cent.

The interest rate of Public Provident Fund (PPF) has been lowered from 8.8 per cent to 8.7 per cent with effect from April 1, said a Finance Ministry statement. However, the rates on savings deposit schemes and fixed deposits up to one year operated by the post offices have been kept unchanged at 4 per cent and 8.2 per cent, respectively.

Further, Monthly Income Schemes (MIS) of 5-year maturity will earn an interest of 8.4 per cent.

The National Savings Certificates (NSC) having maturity of five and 10 years will now attract 8.5 per cent and 8.8 per cent interest respectively, down 0.10 per cent each. The interest rates would be applicable for the entire 2013-14 fiscal.

The rate for senior citizens savings scheme (SCSS) has been fixed at 9.2 per cent, down from 9.3 per cent.

The revision in interest rates follows a decision taken by government last year to link the small savings returns with the market rate. The new rates are required to be announced at the beginning of a financial year.

The decision was in line with the recommendations of Shyamala Gopinath Committee, which had suggested that returns should be in sync with market rates determined by the returns offered by other securities.

 Some of Photos of AIC P3 THIRUVANTHAPURAM Comrades of karnataka circle
participated in historical rally

10 postal ATMs in City to encash your PO savings

The snail mail’s long-awaited techno revolution is just about to begin, right here in Bangalore.
 The Department of Posts will lau­nch its first automated teller machine (ATM) for the Karnataka Circle at the General Post Office (GPO) here in two months.

Seventy-five more ATMs will spring up across the State soon, nine of them in the City,
triggering a year-long modernisation drive.

The ATMs will first cater to postal savings bank account holders. Armed with ATM cards, these
 consumers are bound to heave a sigh of relief. For decades, they had to wait in long queues before crowded counters and return empty-handed if they overshot the postal timings.

“It will be like any other bank ATM. While savings account holders can withdraw cash, eventually even matured term deposit accounts can be encashed,” Hilda Abraham, Chief Postmaster General, Karnataka Circle,  told Deccan Herald.

Nine more ATMs will be set up at the postal head offices at HAL, RT Nagar, Banashankari, Rajajinagar, Jayanagar 4th Block, Basavanagudi, Jalahalli and the postal sub head offices at Ramanagara and Channapatna. “Shortly, we plan to extend the service to most head post offices across the State,” said Abraham.

The ATMs are part of a national project to install 1,000 such machines ac­r­oss the country. The pilot project involves six postal circ­les including Karnataka, Ta­m­il Nadu, Uttar Pradesh, Raja­st­han, Maharashtra and Assam.

Last year, the Postal Dep­artment had selected IT major Infosys to implement core banking and insurance soluti­ons in post offices nationwide. Installing ATMs is part of this Infosys venture, which will run parallel to the electronic content management system (ECMS) it is implementing for the Department.   

The system would manage lakhs of documents. “Documents related to savings bank acco­unts, recurring deposits, term deposits, NSC and cash certificates, postal and rural insurance will be managed,” she said.

Under ECMS, a disaster recovery unit will be based in Mysore, as a back-up to all the data stored in Mumbai. “Once the system is in place, all financial transaction records at all the post offices will automatically be tallied with the Mumbai data centre. It will be faster and more accurate,” Abraham said.
source---http://www.deccanherald.com    

DEARNESS ALLOWANCE FROM JAN 2013

Additional DA for Central Government Employees and Pensioners from Jan 2013 – Delays in getting cabinet approval..!

            All Central Government employees and Pensioners are expecting the announcement of additional Dearness allowance from Union Government.

        21.03.2013 obliviously, Cabinet will declare the enhancement of the Dearness allowance by 8% from Jan 2013 to all Central Government Staff and Pensioners, unfortunately there is no information about the meeting and the agenda yet..!

        We expect the Union Cabinet meeting will meet in next week; the approval also will get in the next meeting.

 

FLASH NEWS FROM CIRCLE UNION

EXCESSES OF THE ADMINISTRATION INTOLERABLE - OUR CHICKBALLAPUR PRESIDENT AND SECRETARY IS TARGETTED:

Dear Co

Dear Comrades, 

We need to take a firm decision now, pressure is mounting on to step into agitation.  Another case of illtreatment to the officer bearers of the Chickballapur Branch is noticed.  Here is the report in brief. 

mrades, 

We need to tak

DPS, SK VISITED CHICKBALLAPUR HO ON 15.03.2013, HIS HURRIED DIRECTIONS TO TAKE ACTION AGAINST OUR BRANCH SECRETARY AND BRANCH PRESIDENT IS NOT GOOD IN THE INTEREST OF STAFF AND ADMINISTRATION RELATIONS.  THE ACTION without complete information is HIGHLY IRREGULAR AND ILLEGAL.  WE DEMAND IMMEDIATE WITHDRAWAL OF ORDERS INCLUDING THOSE ALREADY ORDERED.  Kolar division is already boiling because of some Transfers, Transfer of Divisional Secretary Com.Shafi and the present incident added to the fury of the members and the leaders of Kolar and entire Karnataka.  Therefore it is high time that administration should proper action in the interest of peace and tranquility.  An email sent to CPMG is also displayed here.

To:

Ms.Hilda Abraham, CPMG, Karnataka Circle, Bg-1.

Dear Madam, 

While recalling our discussion with you on 18.03.2013, we bring to your notice of the latest development in Kolar division.  We enclose three papers this mail that are self explanatory.  Both the DPS and the SSP Kolar have erred in jumping to wrong conclusion without complete information.  

Such hurried action is opposed vehemently at this end.  Please intervene in the matter to restore normalcy.  We have already informed you that our divisional Secretary of postmen union is transferred irregularly, demoted and humiliated for legitimate trade union activity.  

Since PMG,SK is not available this request to halt such irregular and illegal action, lest we will be forced to step into agitation.

  Our Joint executive is meeting today evening to decide the course of action.

Awaiting positive response, 

Yours sincerely, 

S.S.MANJUNATH

Circle Secretary

On behalf of PIII, P-IV & GDS Unions, Karnataka.

DA: Find attachments as above.   

SOURCE---KARNATAKA POST

Postal authorities of Sri Lanka suspend contract given to private company to deliver air mail

Postal authorities of Sri Lanka suspend contract given to private company to deliver air mail
 

 


Sri Lanka postal authorities have decided to suspend the contract given to a private company to deliver air mail.
Secretary of Postal Services and Telecommunication Ministry Hemasiri Fernando said the contract was suspended due to the poor performance of the private company.
He has explained that the government had decided to hand over the delivering of airmail to a private company to streamline the process but the company had failed in its task resulting in a backlog.
The private company was assigned the task of delivering air mail on March 1st.
According to Fernando, the air mail operation has been handed back to the Sri Lanka Postal Department.

source---- http://www.colombopage.com

Postal Department announces tentative schedule of PA/SA Direct Recruitment for the vacancies of 2011 and 2012

Andhra Pradesh Postal Department faces problems in delivery of Aadhaar card

Hyderabad: Amid complaints of delay in delivery of Aadhaar cards, the Postal Department in Andhra Pradesh has claimed it has been facing difficulty in disbursing these cards because of incomplete addresses and wrong pin codes given by applicants themselves.


"Incomplete and wrong addresses written on the envelopes, change in addresses and residences remaining locked for days together are some of the reasons why the Postal Department is finding it tough to deliver the Aadhaar cards," K Sandhya Rani, Postmaster General (Business Development and Marketing & Technology) told PTI.

The quantum of Aadhaar card letters received for the delivery is huge, which is a challenge in itself, besides wrong pin codes, she said.

"We found that almost 25 per cent of Aadhaar letters come with wrong pin codes. It becomes all the more difficult in case of slum areas as there is no proper numbering to houses," Ms Rani said.

While over 4.69 crore Aadhaar cards in the state have already been delivered, the department has returned over 2.78 lakh to the office of Central Identities Data Repository (CIDR)/Unique Identification Authority of India (UIDAI) at Bangalore, she said.

"Though the Chief Postmaster General and the Regional Postmaster Generals are monitoring the process of speedy delivery of Aadhaar cards, we have returned 2,78,826 letters containing Aadhaar cards due to several reasons," she said.

"Of the 4,74,39,801 letters booked by the UIDAI under the Speed Post service so far, about 2.15 lakh letters containing Aadhaar letters are now under delivery process across the state, she said, adding that of these, 1,42,521 are to be delivered in five Direct Benefit Transfer (DBT) districts of Hyderabad, Ranga Reddy, Anantapur, Chittoor and East Godavari.

There are about 20,770 postmen (including Gramin Dak Sevak Delivery agents) in 14,783 post offices across the state and about 1,100 postmen in 124 post offices in Hyderabad and Ranga Reddy districts.

On an average every postman delivers about 200 speed post and registered articles every day, besides several hundred ordinary letters, Ms Rani said.

"Our postmen have been putting in extra efforts to deliver the cards. Many of them have been working on Sundays and beyond office hours over the last two years in order to deliver the Aadhaar letters.

"The time lag between the enrolment and generation of Aadhaar cards by UIDAI is often attributed to the delay by the Department of Posts," she said.

According to Rani, in Hyderabad and in the neighbouring Rangareddy district, 78,55,878 Aadhaar cards have been delivered, while 1,48,347 letters were returned to UIDAI.

About 46,000 Aadhaar letters are in the process of delivery in these districts.

"The UIDAI has been able to generate only 79,87,376 (89 per cent) out of the total enrolments of 89,84,000 in Hyderabad and Rangareddy districts till last month. Only 99 per cent of the generated Aadhaar cards were booked as speed post articles and dispatched to post offices for delivery. Of these, 99.20 per cent of the Aadhar letters have already been delivered in these districts," she said.

Department of Posts has set up a portal to update Aadhaar letter delivery status using the Speed Net software that provides the track and trace facility, she said.

To ensure proper delivery of Aadhaar cards and fix accountability of postman for wrong delivery if any, the department has been taking disciplinary action as well.

"Action has been initiated against five Postmasters, three postal assistants and 12 postmen," Ms Rani said.
source--- NDTV.COM

India Post readies plan to start bank

NEW DELHI: The Reserve Bank of India having opened the window for new bank licences, the postal department is finalizing the blueprint to set up a bank of its own at yourneighbourhood post office, a move that will challenge the dominance of large public sector lenders in smaller towns and rural India.

While the department already has a balance sheet of Rs 6.18 lakh crore, which includes deposits of around 5.5 lakh crore, it is expected to set up a new entity that will function as the bank. Transferring the existing deposit base to the bank or converting the entity into a bank will entail an initial capital base of around Rs 55,000 crore to meet RBI's requirement, which the government will find difficult to provide. So, the proposed bank will start with the minimum capital requirement of Rs 500 crore, said a source familiar with the development.

"This will benefit rural areas enormously. There are nearly 1.55 lakh post offices and no capital cost of building is required. We are connecting post offices. As it is, we are offering savings bank in post offices and this is a natural progression. The matter is under discussion with the finance ministry and RBI," communications and IT minister Kapil Sibal told TOI.

Courtesy: Times of India dated 14.03.2013

Govt to launch website for e-postal order by March end --PTI

NEW DELHI; A website to help  Non-Resident Indians (NRIs) to pay the fee for filing   RTI   applications through e-postal order is all set to be launched by this monthend.
The website will have an option for NRIs to pay the fee of Rs 10 via credit or debit cards to the government while exercising their Right to Information, official sources said.


The Department of Personnel and Training, which act as a nodal agency for the implementation of the RTI Act, has worked out all the modalities along with the Department of Posts for the purpose, they said. The facility, which is likely to be made online by this month end, will also be extended for citizens living across the country, the sources said.
The DoPT has already floated a tender for an RTI call centre and website project which will help an applicant to file applications online under the transparency law and receive the response.

source-- articles.economictimes.indiatimes

Seventh Pay Commission for Central Government Employee: Reply of Rajya Sabha Question

Seventh Pay Commission for Central Government Employee: Reply of Rajya Sabha Question

CLICK HERE FOR DETAILS/ET NEWS

 

SCHEDULE OF FEES TO BE CHARGED ON VARIOUS PO SAVINGS SCHEMES

CITIZEN'S CLIENTS CHARTER (CLICK LINK BELOW FOR DETAILS)

{http://ccis.nic.in/WriteReadData/CircularPortal/D3/D03ppw/CitizenCharter_040313.pdf}