“Expected DA Jan 2016” gets carefully scrutinized by the 7th Pay Commission

“Expected DA Jan 2016” gets carefully scrutinized by the 7th Pay Commission

"This time, it is not just the employees, but the members of the 7th Pay Commission too who are very eager to know about the Dearness Allowance from January 2016. "

'Expected DA January 2016' has the honour of making not just the Central Government employees and pensioners curious; it has even got the 7th Pay Commission on the list of eagerly waiting audience.

It is a well-known fact that Central Government employees love to read all kinds of information, analyses, orders, and predictions about the Dearness Allowance. Here are our fact- and trend-based predictions for the additional Dearness Allowance which will be announced from 01.01.2016. 

Calculation of DA : The Government of India presently calculates the level of inflation for purposes of grant of dearness allowance to Central Government Employees on the basis of the All India Consumer Price index Number for Industrial Workers (2001=100) (AICPI). The twelve monthly average of the AICPI (2001 base) as on 1st January and 1st July of each year is used for calculating the Dearness Allowance (DA).

Each month, the Central Government’s Labour Bureau releases price-related data called the CPI (IW) on Base Year 2001=100. 78 important cities and towns from all over the country were selected and the fluctuations in prices of essential commodities in all these places are noted. Based on these data, the points, abbreviated as AICPIN, are calculated. The Pay Commission will, in its report, explain in detail how the DA is calculated based on these statistics, known as the ‘DA Determination Formula.’

The Dearness Allowance of not just the Central Government employees, but also the state government employees, is being paid as per the method prescribed by the 6th Pay Commission. The DA calculation method was implemented from January 2006 and will continue to be in effect for ten years, until December 2015. This DA determination method comes to an end now due to the constitution of the 7th Pay Commission.

Implementation of 7th CPC : The 7th Pay Commission is expected to submit its recommendations to the government before December 2015. Its recommendations are expected to be implemented from January 2016 onwards. 

Dearness Allowance after 1.1.2016 : After 01.01.2016, Dearness Allowance will be issued based on the prices of essential commodities,as per the method recommended by the 7th Pay Commission. For example, the 6th Pay Commission’s recommendations were implemented from January 2006 onwards. The DA for the months of January 2006 to June 2006 was not paid. DA was issued only from the month of June 2006. 

DA Calculation Method of the 7th Pay Commission : Successive Pay Commissions have made changes to the DA formula, suggesting their own methodology for determining the quantum and frequency. The 7th Pay Commission will also expected to recommend a different methodology to determine the DA.

One cannot say for sure that the 7th Pay Commission will follow the method that was recommended by the 6th Pay Commission. It could modify the current CPI(IW) BY 2001-100 statistics index. It could also change the current “Linking Factor 115.76” method. It is difficult to predict how these factors would differ in the recommendations of the 7th Pay Commission report. 

Expected DA January 2016 : The Dearness Allowance from January 2016 will be calculated based on the AICPIN points for the six months starting from July 2015. The AICPIN points of only three months have been released as of now. Expected DA for January 2016 can be calculated only after the AICPIN points of October, November and December are released. On a fair guess, assuming that the AICPIN points remain the same for the remaining three months, one can expect Dearness Allowance of 6 percent and the total Dearness Allowance will increase by 125 percent. Unless there is a dramatic change in the AICPIN points, the total Dearness Allowance will very likely be around 125 percent. 

The relationship between the 7th Pay Commission and the DA : The quantum of Dearness Allowance mentioned above is an important aspect for 7th Pay Commission. It is based on this number that the much awaited Revised Basic Pay will be calculated. For instance, the amount of total DA percentage will be added to the current Basic Pay and to this, the weightage to be reommended by the 7th Pay Commission will be added and the new Basic Pay will be arrived at. 

The AICPIN points for the month of December 2015 will be released only in January 2016. Only then will it be possible to accurately calculate the Dearness Allowance from January 2016.

The 7th Pay Commission is expected to submit its report to the Central Government by December 2015. It remains to be seen how the 7th Pay Commission has calculated the final Dearness Allowance percentage.

Source:http://90paisa.blogspot.in/2015/11/expected-da-jan-2016-gets-carefully.html#more

Post Office to Act as Financial Literacy Hub in Rural Area

The government is looking to utilize the services of postmen to teach people in rural areas how to use banking services and access various state-sponsored financial inclusion schemes. The finance ministry is working on developing a structured programme as part of a new strategy for financial inclusion under which banks will pay a fee to use the services of the postal department.

"The idea is to turn a post office into a financial literacy hub. We will organize weekly literacy camps and selected post office employees will undergo a structured training programme developed by banks on financial literacy," said MS Ramanujan, member (banking and HRD), Department of Posts.

India Post is among the 11 successful entities that recently got in-principle approval for a payments bank license from the Reserve Bank of India. Tentatively named as 'India Post Payments Bank,' the entity will have an initial capital of Rs 300 crore.'

"We are looking to leverage our entire postal network," said Ramanujan. He said banks will pay a small fee to use the services of the postal department depending on the location, details of which are being worked out.

A senior finance ministry official said the government is looking to focus on financial literacy as part of its financial inclusion programme. "Now that the accounts have been opened, we want to ensure that people take advantage of all other schemes, including soft loans under the MUDRA Yojana," said the official, who did not wish to be named.

So far, about 18.86 crore accounts have been opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY), with deposits of nearly Rs 25,700 crore.

"Around 40% of these accounts have zero balance. We want them to develop a habit of banking, so that they can have a credit history and use other services," the official said.

"Around 40% of these accounts have zero balance. We want them to develop a habit of banking, so that they can have a credit history and use other services," the official said.

The Centre had last year launched three social security programmes - the Pradhan Mantri Suraksha Bima Yojana (PMSBY), the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Atal Pension Yojana (APY) - to bring the excluded under the fold of formal financial services. The drive is billed as 'Jandhan to Jansuraksha' or people's money to public security.

The government has set a target of Rs 1.22 lakh crore for loans to be given by state run banks to promote new entrepreneurs under the Pradhan Mantri Mudra Yojana, which will seek to "fund the unfunded".

Courtesy: The Economic Times

Source:  Post Bank Of India

BSNL PRODUCTS NOW AT POST OFFICES

Starting November 1, BSNL products like SIM card, top up and recharging vouchers would be available at Post Offices across the State.

The Bharat Sanchar Nigam Limited (BSNL) signed an MoU with the Department of Posts to this effect on Thursday here.

“As the BSNL is providing telecom services and the Department of Posts is providing postal services in the urban and rural areas, we felt for distribution of BSNL products at the India Post outlets.” Odisha Circle Chief Post Master General (CPMG) Tilak De told reporters here.

India Post would provide BSNL services to walk-in customers from November 1 from the undivided Cuttack district, he informed. This facility would be extended to all the districts of the State by the end of this year.

 “With this facility, the BSNL will be able to reach out to the remotest part of the State through the India Post outlets,” De said.

BSNL Odisha Circle Chief General Manager Bijoyananda Mishra said the reliability and transparency has been the key benchmark for both India Post and BSNL and, therefore, customers would be able to appreciate the synergy between the India Post and the BSNL.

A technology experience centre was also inaugurated at the BSNL Bhawan on the occasion. This centre would showcase the BSNL technologies that are used in various telecom services.

Source : www.dailypioneer.com.

Courtesy:  AIAIPASP blog

Notification for “Republic Day 2016- Stamp Design Competition”

Notification for “Republic Day 2016- Stamp Design Competition”

Click here to Download notification

Department of Posts is holding a Stamp Design Competition. The theme of the competition is “Vibrant India”.

Terms and Conditions to participate in “ Republic Day 2016- Stamp Design Competition”

1. Entries are invited for ‘Republic Day 2016- Stamp Design Competition’.The theme of the competition is “Vibrant India”. The participants are to make an original design on this subject (should not be copy of picture painted by someone else).

2. Any citizen of India can participate in this contest. The design could be in ink, water, colour, oil colour or any other medium (Computer printed/ printout will not be allowed). The design submitted should be such that can be depicted on the stamps in a visually appealing manner so as to be of interest to philatelic collectors.

3. Participants are free to use drawing paper, art paper or any other type of white paper of A4 size.

4. The following particulars should be written legibly on the reverse of the design:

5. An undertaking stating that ‘The artwork submitted is original and no copyright issues are involved’ should be sent along with the entry. In case of any legal dispute related to copyright issue, Department of Posts will not be liable for the same.

6. The design should be sent through “Speed Post” only, in 4 size envelope. The participants should mention “Republic Day 2016- StampDesign Contest” on the envelope in which the drawing is sent.

7. Selected designs will be considered for use on stamps and other philatelic material. The prize money will be as follows:-

1. First prize Rs. 10,000
2. Second prize Rs. 6,000
3. Third prize Rs. 4,000

8. The entries should reach on following address by 30.11.2015. The entries received after last date of receipt will not be entertained.

To,
ADG (Philately)
Room No. 108(B), Dak Bhawan
Parliament Street, New Delhi-110001

Source:  POTools blog 

Sovereign Gold Bonds scheme to be launched by PM Modi: Top 10 things to know

The Reserve Bank of India (RBI) has issued operational guidelines for Sovereign Gold Bonds scheme, 2015-16, to be launched by Prime Minister Narendra Modi on Thursday. (Reuters)

The Reserve Bank of India (RBI) has issued operational guidelines for Sovereign Gold Bonds scheme, 2015-16, to be launched by Prime Minister Narendra Modi on Thursday. Besides Sovereign Gold Bonds, Modi will also launch two other gold related schemes – Gold Monetisation Scheme (GMS) and the Gold Coin and Bullion Scheme. Here are 10 points to know about the Sovereign Gold Bonds scheme:

1. Issuing the operational guidelines on the gold bonds, RBI said application forms from investors will be received at branches during normal banking hours from November 5 to 20. “Relevant additional details may be obtained from the applicants, where necessary. Receiving offices need to ensure that the application is complete in all respects,” it said.

2. Investors will be compensated at a fixed rate of 2.75 per cent per annum payable semi-annually on the initial value of investment.

3. RBI said applicants will be paid interest on application money at prevailing savings bank rate from the date of realisation of payment to the settlement date (the period for which they are out of funds).

4. In case the applicant’s bank account is not with the receiving bank, the interest has to be credited by electronic fund transfer to the account details provided by the applicant, the guidelines said. It added that banks may engage NBFCs, NSC agents and others to collect application forms on their behalf. Banks may enter into arrangements or tie-ups with such entities.

5. Sovereign Gold Bonds will be available for subscription at the branches of scheduled commercial banks and designated post offices through RBI’s e-kuber system. The e-kuber system can be accessed either through Infinet or Internet.

6. Cancellation of application is permitted till the closure of the issue (November 20). Part cancellation of submitted request for purchase of gold bonds is not permitted. No interest on application money needs to be paid if the application is cancelled.

7. Sovereign Gold Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram. The tenor of the Sovereign Gold Bonds will be for a period of 8 years with exit option from 5th year.

8. The GMS will replace the existing Gold Deposit Scheme, 1999. However, the deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them, the Finance Ministry said in a statement.

9. The Indian gold coin is a part of the Gold Monetisation Programme. The coin will be the first ever national gold coin and will have the National Emblem of Ashok Chakra engraved on one side.

10. The Sovereign Gold Bonds will be issued on November 26.

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

Courtesy SA Post Blog

Eligibility of widowed / divorced daughter for grant of family pension- clarification regarding

Government of India
Ministry of Defence
Department of Ex-servicemen Welfare
D(Pension/Policy)

Subject: Eligibility of widowed/ divorced daughter for grant of family pension- clarification regarding.

A copy of Department of Pension & Pensioners Welfare OM No. 1/13/09- P&PW(E) dated 28th April 2011 & 11th September 2013 on the above subject are forwarded herewith for your information and necessary action in the matter.

2. MoD (Fin/Pen) has been consulted

Click to view the order

Implement 7th CPC Report with retrospective effect, Grant Interim Relief - Confederation

Implement VII Pay Panel, Insist Staff: Indian Express

PUDUCHERRY: As many as two hundred members of the Confederation of Pondicherry State Government Employees Associations were arrested here, on Wednesday, for attempting to picket the Chief Secretariat demanding the implementation of the yet-to-be submitted seventh pay commission’s recommendations with retrospective effect.

In the meantime, the confederation leaders urged the Central government to announce an interim relief.

Apart from seeking the implementation of its recommendations from the date of the constitution of the commission, the agitators also put forth a 34-charter of demands that included the filling up of vacancies in all the departments, replacement of the new pension scheme with the old one, setting up of grievance cell in all departments and cadre restructuring to improve chances of promotion for employees.

The panel set up on January 1, 2014 by the previous UPA government will take at least 18 to 24 months to submit its final recommendations.

Puducherry government has 25,000 employees, who enjoy similar service conditions as that of their Central government counterparts.

Earlier, members of the confederation took out a rally. As the police did not allow them to proceed beyond the Head Post office, they began demonstrating then and there. After a while, all the agitators were arrested and removed.

The protest was led by Seetharaman. Office bearers of the association C H Balamohanan and Premadasan were among those, who  took part in the rally and the subsequent agitation.

Meanwhile, the joint action committee members of the municipality and commune panchayat workers associations, affiliated to the AITUC held a demonstration in front of the Local Administration Department demanding the regularisation of the part time and daily rated employees who are working for more than 15 years.

They also urged the administration to provide Deepavali bonus for part time employees, and make appointments on compassionate grounds to the relatives of those who died.

The joint action committee had planned three phased agitation to press these demands.

Wednesday’s first phase agitation was led by AITUC leader V S Abishegam. The second and third phase of the agitation would be held near Raj Nivas here on November 18 and 25 respectively.

Read at: The New Indian Express

Reimbursement of Children Education Allowance: PCDA (CC) circular

Reimbursement of Children Education Allowance: Instructions by PCDA (CC)

Office of the Principal Controller of Defence Accounts (Central Command)

Cariappa Road, Cantt., Lucknow - 226002

Circular

No.:-AN/IV/CEA/2015

Date: 02/11/2015

To
The Officer-In-charge,
1. All Sections of MO.
2. All Sub Offices
3. All PAOs

Sub: Payment on account of Children Education Allowances.

During Local Test Audit of vouchers of children education allowance, it is found that the name of child, for whom shoe, books and uniform purchased, were not mentioned in cash memo vouchers. Local Test Audit Team has pointed out the matter and emphasized for making suitable correction.

It is therefore, enjoined upon all concerned to intimate the name of child for whom shoe, books and uniform purchased, may be mentioned in cash memo vouchers.

All the officers/staff may be got aware of the fact for strict compliance.

sd/-

Sr. Accounts Officer (AN-IV)

Source: http://pcdacc.gov.in/download/circularsnew/payment_cea.pdf

Read more: http://www.staffnews.in/2015/11/reimbursement-of-children-education.html#ixzz3qaT9cBSw
Under Creative Commons License: Attribution Share Alike
Follow us: @karnmk on Twitter | cgenews on Facebook

Mandatory use/opening of Savings Account in CBS Post Offices for maintaining/‘development of relationship of customers with Post Office Savings Bank (POSB)- further clarifications to SB Order No.12/2015

Mandatory use/opening of Savings Account in CBS Post Offices for maintaining/‘development of relationship of customers with Post Office Savings Bank (POSB)- further clarifications to SB Order No.12/2015 regarding ,

F.No.113-02/2015-SB

Government of India

Ministry of Communications & IT 

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001.

Date: 26 .10.2015

To

All Heads of Circles/ Regions
Addl. Director General, APS, New Delhi.

Subject:- Mandatory use/opening of Savings Account in CBS Post Offices for maintaining/‘development of relationship of customers with Post Office Savings Bank (POSB)- further clarifications to SB Order No.12/2015 regarding ,

Sir / Madam,

In continuation of SB Order No.12/2015 issued vide this office‘ letter of even number dated 05.10.2015 on the subject, the undersigned is directed to convey that a number of references from Public by mails, letters and phone calls have been received, mentioning that Opening of new Savings Account at CBS Post Office is taking too much time/ even days due to which maturity payments are getting delayed. Post Offices are not issuing cheques to the customers. The competent authority has reviewed the matter parti Culary in the backdrop of issues being reported in CIF Creation and Modification menus of' Finacle CBS Application and has decided to issue following clarifications:-

1. The objective of the letter dated 05.10.2015 was to'educate the‘customers for availing various. benefits of Post Office Savings Account in CBS Post Office and to develop/maintain relationship with the POSB customers through Savings Account. With this, a customer can ‘ also have a. holistic viewr of all transactions" happening in various accounts/certificates Standing at different post offices in "his/her name. Looking to the benefits of Savings Bank Account, field units may be asked 'to continue to persue the customers to open savings account for better and sustainable, relationship with POSB. However, in case of extreme exegencies like a Bank or any Institution presenting Certificates after forfeiting security, any depoistor becomes NRI after investment and now wants to take maturity value only, the claim case where there are multiple nominees/legal heirs or any other case where Postamster/Sub Postmaster is satified that depository is genuinely not in a position to open savings account immdietaly may issue cheque for the maturity/prematurity value. Depositors may be made aware that facility of transfer of funds through NEFT/RTGS and use of Post Office Savings Bank ATM cum Debit Card in other Bank's ATMs will also be provided shortly.

2. In case a depOSitor of RD or LPPF. is also genuinely unable to open Savings Account immediately, then may present cheqUe of other 'bank for deposit but for future deposits he/She may be requested to open savings account.

3. ‘ For all new investments in any scheme including through. agents, customer should open Savings Account mandatorily with proper KYC documents to start relationship with POSB and then invest in any-of Small Savings Scheme through the same Savings Account. In such cases, if customer wants to invest through Cheque of other. Bank, his/her cheque should be lodged only through his/her savings account and then new account/certificate should be funded, from that savings account by putting cheque credit date as Value Date.

4. . For subsequent deposits by‘ RD, PPF and SSA Accounts, Customers/MPKBY Agents should be suitably informed that from 151: Jan. 2016, all such customers should be asked ‘to submit POSB Cheque only for their subsequent deposit and if they, donot have savings account in any CBS Post Office, they may have to. open Savings Account with cheque Books.

5. All MIS/SCSS/TD Account Holders who open further new account or‘extend the existing accounts, should also be requested to open savings account mandatorily and give standing instruction for credit of interest so that they need not visit post office frequently and Stand in queue, instead they can be issued ATM/Debit Card to Withdraw from ATMS. Existing account holders should also be convinced to open Savings Account for getting monthly/quarterly/yearly interest.

6. It is further reiterated that for all the entries made in Clearing Inward/Outward, ECS Inward/Outward, BO Settlement and Postmaster Repayment Office Account (0340) by the User are to be verified by Supervisor. For these entries, it will be the personal responsibility of that User and Supervisor.

7. It is requested to circulate this order to all CBS Post Offices and non CBS Post Offices may start requesting customers to open Savings Accounts to avail all the benefits once office is migrated to CBS.

Yours faithfully,

(Kawal Jit Singh)

Assistant Directo (SB-II)

Source : http://www.indiapost.gov.in/dop/pdfbind.ashx?id=1677

Read more: http://www.staffnews.in/2015/11/mandatory-useopening-of-savings-account.html#ixzz3qaSHAYtx
Under Creative Commons License: Attribution Share Alike
Follow us: @karnmk on Twitter | cgenews on Facebook

India Post collects Rs 800 cr from COD facility

Emerging as a leading distribution channel for the e-commerce sector, India Post collected over Rs 800 crore through cash-on-delivery (CoD) facility and is looking to further strengthen its position in the segment by starting a pilot service for same-day delivery. 

The postal department has also earned around Rs 70-80 crore through speed post in the year 2014-15 from e-commerce business. 

Since the introduction of CoD facility, the Department of Post has collected more than Rs 800 crore and remitted to customers," an official said.

 

In order to generate more business, the postal department is reviewing its service features to attract more number of e-commerce customers, the official further said. 

"As part of this exercise, the Department of Posts has started pilot for same/next day delivery in identified cities for identified PIN codes. A national account facility has also been introduced under Speed Post," he added. 

The CoD facility was launched in December 2013 to cater to the needs of customers and benefits from the growing e-commerce market. 

The CoD has emerged as one of the most sought after services for e-commerce entities. Customers in the country tend to prefer CoD as the online payment modes are yet to catch up in many parts of the country while many people are not comfortable with advance payments for products purchased online.

The initiatives taken by the department for parcel segment have resulted in revenue of Rs 105.51 crore in 2014-15. 

With dwindling letter or document traffic, the department is focusing on the fast-growing parcel segment and various measures have been taken to modernise the department under the Digital India initiative.

As part of initiatives to leverage the e-commerce sector, the department has forged tie-ups with leading online market places like Snapdeal, Amazon, Paytm and Yepme for parcel delivery and has also set up modernised 48 centres to handle the packages. 

The e-commerce sector in India is growing at 47 per cent CAGR and India Post is the only delivery agency with a pan-India reach, the official said. 

Communications and IT Minister Ravi Shankar Prasad had earlier said that India Post with the world's largest postal network was best suited to offer delivery services to e-commerce firms. 

The Minister had suggested that India Post should strive to become the largest player in the e-commerce segment. 

The Postal Department has 1,54,882 post offices, of which 1,39,182 are in rural areas. The department employs around 4,60,000 personnel and handles close to six billion mail pieces in a year.

Source:Business-standard.com

BULLZIP PDF PRINTER 10.9.0.2300 - VIRTUAL PRINTER

BullZip PDF Printer is a virtual printer driver that enables you to convert any printable document or image to PDF format. The Bullzip PDF Printer works by creating a virtual printer in the operating systems that prints to PDF files instead of paper. This practically allows any application to create PDF files from the print menu. Once installed, BullZip PDF Printer appears as a printer option in your printing properties. If you want to use BullZip PDF Printer as your default printer right-click on it and select it as your default printer. This program is FREEWARE.

Click Here to Download from Google Drive

Click Here to download the BullZip PDF printer from Official Site. 

Note: This virtual printer is useful for setting up virtual Mc-Camish printer, to save document and print later.

Thanks to ATPPost

Source: SA Post

Employment News : 31th October to 6 November 2015

NAVAL DOCKYARD, VISHAKHAPATNAM.  Name of Post – Tradesman (skilled)  No. of Vacancies – 161 Last Date –Within 30 days from publication of advertisement. INDIAN AIR FORCE Name of Posts –Group C. No. of Vacancies -39 Last Date – Within 30 days from publication of advertisement. NUCLEAR POWER CORPORATION OF INDIA LTD., RAWATBHATA Name of Posts – Assistant Grade 1, Nurse, Pharmacist/B etc. No. of Vacancies – 35 Date- 20.11.2015 RAIL LAND DEVELOPMENT AUTHORITY, NEW DELHI. Name of Posts – Joint General Manager (Civil, Real Esastate, Finance & Accounts), Secretary etc.  No. of Vacancies –16 Last Date – – Within 30 days from publication of advertisement SECURITY PRINTING AND MINTING COPRPORATION OF INDIA LTD. Name of Post –Additional General Manager (F&D), Chief Manager (R&D), Manager (Tech), Manager (Materials, Marketing). No. of Vacancies -8 Last Date: – Within 30 days from publication of advertisement.

Source : http://employmentnews.gov.in/

Designated Post offices to issue Sovereign Gold Bond 2015-16

In continuation of the Press Communiqué dated 30th October, 2015 on Sovereign Gold Bond 2015-16, the Government of India, in consultation with Department of Post, has decided to issue the list of designated Post Offices to issue Sovereign Gold Bond Scheme, 2015. The designated Post Offices are authorized to receive the applications either directly or through agents.

The other terms and conditions will remain same as in the press communiqué dated 30th October, 2015.

Source:http://7thpaycommissionnews.in/designated-post-offices-to-issue-sovereign-gold-bond-2015-16/