Friday 27 September 2013

India Post pushes ahead with banking plan despite opposition

Postal department to seek cabinet approval for banking capital even after finance ministry reservations
Comment E-mail Print  
 
First Published: Sun, Sep 22 2013. 11 43 PM IST
India Post needs the government’s permission for the `500 crore that is needed to set up a bank if it gets a licence from RBI. Photo: Hindustan Times
India Post needs the government’s permission for the Rs.500 crore that is needed to set up a bank if it gets a licence from RBI. Photo: Hindustan Times
Updated: Mon, Sep 23 2013. 12 22 AM IST
Mumbai: Despite strong opposition from the finance ministry, the postal department plans to approach the Union cabinet next month seeking capital of up to Rs.1,900 crore for a proposed commercial bank, according to two people familiar with the development.
To be called Post Bank of India, its branches will be linked to India Post’s vast network of post offices and will promote goals of financial inclusion, its supporters say.
“The department has decided to move the cabinet by October to seek the capital for Post Bank,” said a senior bureaucrat familiar with the proposal. The official requested anonymity, citing sensitivity of the matter. The second person, a consultant, also declined to be identified.
An email sent to financial services secretary Rajiv Takru on Tuesday remained unanswered at the time of writing this story.
India Post needs the government’s permission for the Rs.500 crore capital that is needed to set up the bank if it gets a licence from the Reserve Bank of India (RBI). While many government departments support the plan, some—mainly the department of financial services—have raised serious reservations, the official quoted earlier said.
India Post estimates an immediate requirement of Rs.700 crore and an additional Rs.1,200 crore in the first five years of its operations.
The move comes as the government prepares to launch a new bank exclusively for women with a capital base of Rs.1,000 crore.
The postal department, one of 26 contenders for banking licences, decided to rush with the proposal to the cabinet because it needs to convince RBI that it has enough funds if indeed Post Bank is shortlisted, the official said.
Global consultancy firm Ernst and Young LLP(EY) has drafted the blueprint for the proposed bank.
RBI governor Raghuram Rajan wants new banking licences to be issued by January-end, before deputy governor Anand Sinha, who has been spearheading the licensing process, retires. RBI is currently scrutinizing the applications and is also in the process of setting up a high-profile panel, to be headed by former RBI governor Bimal Jalan, to screen them.
Contenders for the new banking licences include L&T Finance Holdings Ltd, Aditya Birla Financial Services Group, Mahindra and Mahindra Financial Services LtdLIC Housing Finance LtdTata Capital LtdIDFC LtdReliance Capital Ltd and Bajaj Finserv Ltd.
In August, the expenditure department of the finance ministry had rerouted an earlier draft cabinet note from India Post seeking Rs.1,900 crore for the banking entry to another wing of the ministry. It asked the postal department to first seek the approval of the expenditure finance committee.
The expenditure finance committee, headed by the expenditure secretary, normally scrutinizes proposals for amounts of more than Rs.300 crore and for the creation of new autonomous organizations, regardless of the amount.
Within the finance ministry, the department of financial services opposes the move, saying the postal department does not have the expertise to run a bank, including handling credit and other banking functions. It feels the business proposal is unlikely to be viable.
But the postal department does not agree with this view, saying it has several years’ experience in deposit mobilization and that Post Bank of India will be run by professional management using its strong network. The postal department has close to 155,000 offices spread across the nation, as many as 139,040 of which are in rural areas.
Each rural post office covers around 6,000 people on an average, and urban post offices cover about 24,000 people each, according to a 2011 estimate.
As of 31 March, the outstanding balance under the Post Office Savings Scheme stood at Rs.6.05 trillion, equivalent of half the deposits of State Bank of India, the country’s largest commercial bank, and double that of the largest private lender ICICI Bank Ltd.
According to an interim report by EY in April, the proposed bank will focus on those at the bottom of the pyramid, or the poor, in non-metro centres, and avoid urban areas that are already well-served by existing banks.
People who already hold deposits with the Post Office Savings Scheme will have the option to transfer these to the proposed new bank, but this will not be compulsory, according to the official quoted earlier.
To begin with, Post Bank of India plans to open 300-400 branches, each also managing a specific number of postal outlets.
Globally, countries such as Germany and Japan run banks linked to their post office networks.
“India Post is the only player among the applicants with experience in deposit-taking. This is the core of financial inclusion. The finance ministry may have reservations about the Post, but its strength can’t be ignored,” said Abizer Diwanji, partner and head of financial services, EY India.
Entry into banking may also help India Post to leverage its branch strength in a profitable manner. It made a loss of Rs.6,346 crore in fiscal 2012, as letter-writing dwindled and private courier firms took away much of its business.
Naina Lal Kidwai, president of the Federation of Indian Chambers of Commerce and Industries and country head of HSBC India, said given that financial inclusion is the key criterion for issuing new bank licences, India Post has a definite edge over other applicants.
“Not only do 90% of their branches already exist in rural India, but their reach is evident even in the most remote, inaccessible and therefore often un-banked locations in the country, thereby automatically dispensing with the problem of access to branches,” Kidwai said.
27/09/2013

Separate PIN code for Supreme Court launched click this link to see detail.

HANDBOOK FOR INQUIRY OFFICERS AND DISCIPLINARY AUTHORITIES Click here to down load
26/09/2013
1)D.A ORDER FOR DEPARTEMNT POSTs EMPLOYEES.
2) D.A FOR PENSIONERS WITHOUT WAITING SEPARTE ORDER FROM DIRECTORATE.
7th CPC boon or bane
7th CPC boon or bane for central government employees it is big debate because without 50% D.A Merger 7th CPC alone will not give much benefit to the Central government employees .The Government should  announce  50% D.A merger  or Pay commission  effect  should be from 2011 like other Public sector Units. This is our view.  what is your view ?
Tell us 

Wednesday 25 September 2013

Wednesday, September 25, 2013

7th Pay Commission - Central Government approved to constitute 7th CPC to Central Government Employees

7th Pay Commission - Central Government approved to constitute 7th CPC to Central Government Employees...

Government announces Seventh Pay Commission for central employees

NEW DELHI: Ahead of elections, the government on Wednesday announced constitution of the Seventh Pay Commission, which will go into the salaries, allowances and pensions of about 80 lakh of its employees and pensioners.

"Prime Minister Manmohan Singh approved the constitution of the 7th Pay Commission. Its recommendations are likely to be implemented with effect from January 1, 2016", finance minister P Chidambaram said in a statement.

The setting up of the Commission, whose recommendations will benefit about 50 lakh central government employees, including those in defence and railways, and about 30 lakh pensioners, comes ahead of the assembly elections in 5 states in November and the general elections next year.

The government constitutes Pay Commission almost every ten years to revise the pay scales of its employees and often these are adopted by states after some modification.

As the Commission takes about two years to prepare its recommendations, the award of the seventh pay panel is likely to be implemented from January 1, 2016, Chidambaram said.

The Sixth Pay Commission was implemented from January 1, 2006, fifth from January 1, 1996 and fourth from January 1, 1986.

The names of the chairperson and members of the 7th Pay Commission and its terms of reference will be finalized shortly after consultation with major stakeholders, Chidambaram said.

Source: www.timesofindia.indiatimes.com
[http://timesofindia.indiatimes.com/india/Government-announces-Seventh-Pay-Commission-for-central-employees/articleshow/23037562.cms]

Tuesday 24 September 2013

23/09/2013
THE UNIONCABIENT TODAY APPROVEDTHE ENHANCE OF  CELLING FOR CALCULATION OF EX-GRATIA BONUS PAYABLE TO GDS FROM Rs 2500/- TO 3500/- THE DECISION WOULD BE APPLICABLE WITH PROSPECTIVE EFFECT i.e.FROM THE ACCOUNTIG YEAR 2012-2013 PAYABLE IN 2013-2014.
1)The finance ministry,saying the postal department does not have the expertise to run a bank, including handling credit and other banking functions. It feels the business proposal is unlikely to be viable.
But the postal department does not agree with this view, saying it has several years’ experience in deposit mobilization and that Post Bank of India will be run by professional management using its strong network. The postal department has close to 155,000 offices spread across the nation, as many as 139,040 of which are in rural areas.
Click below link to see detail
2)23rd SCOVA Agenda -ATR & gist of discussion - Bharat Pensioners Samaj
3) Obtaining Aadhar card optional, not mandatory:
22/09/2013.
1)What is “Hierarchy”
The pension scheme can be critical in ensuring old age security for millions in the country. Click below link to knowGeting investors interested in the pension scheme
21/09/2013.
1)The CWU have announced a strike is "inevitable" if Royal Mail and the Government put in place protections in face of possible privatisation 
Click here to Read more...
2)  DOPT orders for Revised Rates of Personal Pay for participating in sports events of national/international importance Click here to see details  
3)Submission of Form 14 by the spouse to the pension disbursing bank after the death of the pensioner - instructions reg. Click here to view memo
20/09/2013.

Release of additional instalment of Dearness Allowance to central government employees and Dearness Relief to pensioners, due from 1.7.2013

The Union Cabinet yesterday gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners with effect from 01.07.2013 at the rate of 10 percent over the existing rate of 80 percent. 
1)Shortly DA would cross 100 percent. Once again, all allowances would enhance by 25%
2) Ban on creation of posts, purchase of vehicles, cut in air travel, no change in LTC Air-travel entitlement etc. under economy measures 
3)CLEAR REMARK NEEDED ON RETURNED ARTICLE 
4) PAYMENT OF SEVERENCE AMOUNT AND ACUMULATING UNDER SERVICE DISCHARGE BENEFIT SCHEME (SDBS) IN CASE OF GDS DEATH WHILE IN SERVICE -REG Click here see detail
5)Austerity Measure in Central Government Departments – Cut in expenditure relating to Seminars and Conferences, Purchase of Vehicles, Domestic and Foreign Travel and Ban on creation of Posts announced by Finance Ministry click here to see detail
19/09/2013

PFRDA – Option to defer Annuity purchase under NPS at the time of exit…

Friday 13 September 2013

FLASH NEWS.
13/09/2013
MACP ON HIERARCHY: Supreme court dismissed the Government Petitions against High Court Decision.
MINUTES OF THE JCM STANDING COMMITTEE MEETING HELD ON 23/08/2013.D.G. Posts No. 06/03/2012-SR dated 2nd September,2013.click here to see the Miniutes

1)Britain launches postal service privatisation.

click above link to see detail

2) Provisions in respect of the candidates who are serving or having served in APS for promotion as Inspector  Post on the basis  of limited Departmental Competitive examination click here to see the order
3)Cabinet Committee may declare Dearness allowance for Central Government employees and Pensioners on tomorrow…
As per the Labour Ministry recommendation, the Finance Ministry making arrangements to obtain the approval from the Union Cabinet on the agenda point.
The agenda point may be taken for the discussion in the meeting to be held on tomorrow at New Delhi. The additional Dearness allowance of 10% from July 2013 to all CG Staff and Pensioners may be granted to compensate the price hike. The total Dearness allowance will go up to 90%.

Thursday 12 September 2013

FLASH NEWS.
12/09/2013.
NFIR conducting Strike Ballot to obtain opinion of all sections of railway employees for launching indefinite Strike approved by NFIR working committee. Click here to see  STRIKE BALLOT ON CHARTER OF DEMANDS
Eligibility of Widowed / Divorced daughters for grant family pension clarification  regarding.Click here to see O.M.

Wednesday 11 September 2013

FLASH NEWS.
11/09/2013.
This report will cover some of the important issues trade union members, activists and leaders need to understand about postal liberalisation. Trade unionists can be an important force in shaping the postal sector to maintain good postal jobs and
quality, accessible universal postal service click here to see the report.
Streamlining cash Management & Enhancement of cash conveyence limits under different catageries.Click here to see details

Sunday 8 September 2013

08/09/2013
Attention to Circle Secretaries/Divisional Secretaries/Branch Secretaries of FNPO affiliated unions.
        Kindly re-call our agitation program on GDS issues. The first phase of program i.e. conducting of Lunch hour Demonstration in front of Circle office is successfully over. FNPO/NUGDS CHQ received information about conducting of Lunch hour Demonstration in front of Circle office on 23-08-2013. Congratulations to all.
        On the second phase of program i.e. meeting the constituency MPs from 09-09-2013 to 13-09-2013. You are requested to meet your constituency MP (Member of Parliament) on the above mentioned dates. The memorandum addressed to your constituency MP is available in our web site. Download the letter of your constituency and put/get signature of the secretaries and submit to the Hon’ble MP, with covering letter and request the Hon’ble MP to forward our Memorandum to Hon’ble Prime Minister of India for consideration.
         Copy of the Hon’ble MP’s covering letter to Prime Minister of India may be obtained and Xerox copy of the same may be sent to Federation/NUGDS CHQ.
1)Whether the vacancies of central Government employees are filled up as per existent Recrudescent Rules
2) Central Government employees /Pensioners salary will be paid  in advance in September 2013 in Kerala circle only.  
3) UNI-APRO WOMEN MAKERS REAL CHANGES.
Click  this link to see the news above in detail
07/09/2013
    11th Asian Pacific Postal Union Congress was held in New Delhi from 3rd to 6th September2013. 
On 3rd September2013 Hon’ble President of India inaugurated the congress.Smt.Killikiruparani, Hon’ble Minister for State lighting the lamp along with the President of India. Secretary, Department of Post Mrs.P.Gopinath welcomes the gathering. Out of 32 member countries 28 countries were participated.  
       On second day i.e. on 4th September2013, 16 countries presented report on Postal Activities. The main discussion was focused on Digital Post, e-commerce and e-business.
On third day i.e. 5th september2013the Financial inclusion was discussed. RBI Deputy General Manager initiated the discussion by presenting a paper. Post Bank, Mobile banking were the major focus points for discussion.
On fourth day i.e. 6th september2013 morning Secretary Department of Post again chaired the meeting. UNI-APRO represented by EIICHIITO and D.THEAGARAJAN S.G FNPO presented a paper on ‘Good industrial relation’.
For the post of Director General three countries were contested 28 countries voted. Out of 28 China secured 21 votes, Indonesia secured 4, Pakistan secured 3
China will hold the post of Director General for another 4 years i.e. from2013 to 2017.
Iran invited to hold 12th Asian Pacific Postal Union Congress.
India will be the Chair for all the Executive meeting and Malaysia will be the vice-chair till the next congress.
The detail note of the congress will be posted shortly.
 06/09/2013
1. Cadre Restructuring of Group-'C' Employees- Modification of constituted committee.
2. NUR 'C' Youth Wing Seminar will be held  T-24, ATUL GROVE ROAD, NEW DELHI 110 001 ON 07.09.2013.
Seminar will be inaugurated by Brother Eiichi Ito, Director Postal Sector UNI APRO.
Key Note address by Shri S.K. Sinha, Chief General Manager, Mail Business.
Thematic discussion - Mail 
Business and it's needs. 
05/09/2013

Lok Sabha passes long-pending Pension Bill it is black day for us. Our branch secretaries conducted lunch hour Dharna against PFRDA bill as directed by our Federation.

04/09/2013

Asian pacific Postal union (APPU) 11th congress was inaugurated by the President of India on 3rd September 2013, Brother Eichi Ito Director Postal Sector UNI APRO and  S.G. FNPO participated in the congress.

03/09/2013
It is learnt that cabinet is likely to approve GDS bonus ceiling from Rs.2500 to 3500 necessary note has sent by the Department .
Now every one is claiming  this is their victory  .Please wait for some time we will  publish  the truth in detail.
Please conduct launch hour Demonstration against PFRDA bill on 4th September in every Branch National wide with wearing black badge..
Click here to Resons for opposing PFRDA Bill.

1)UK unions intensify campaign to stop privatisation of Royal Mail
2) Chilean postal workers strike, demonstrate among dispute
3) JPGU Hold Annual Congress.
02/09/2013

1)Fixation of 6CPC Pension for Pre 2006 Pensioners as per fitment table applicable to serving employees – Hon’ble Supreme Court Judgement

2) Family Pension to next eligible member in the family in the case of missing family pensioner

3)Government to hike DA by 10% to benefit 80 lakh employees & pensioners.

Sep 6, 2013

Transfers & Postings in PS Group B Cadre

1.Sri P.Radha Krishna, A.D(S&V) O/O PMG, Vadodra on reallotment to AP Circle is posted as SRM Z Division Hyderabad.
2. Sri G.V.Ramana, SRM "Z" Division is transferred and posted as SPOs Wanaparthy Dn vice post vacant.


Sep 5, 2013

CAT case for upgradation of GP of IPs - An update

CAT case No. 289/13 at Ernakulam Bench on upgradation of GP of IPs is stands posted to 26/9/2013 for filling rejoinder.

Transfers/Postings in ASP Cadre in Vijayawada Region

PMG, Vijayawada has issued the following posting orders in the cadres of Assistant Superintendent of Posts vide R.O memo dated 05-09-2013.

Part-I(Reallotment/Transfer)

SI.No
Name of the official
Present place of Posting
Place of posting on re-allotment to Vijayawada Region
1
P.Venkata Swamy
IP, Vuyyuru Sub Division, Vijayawada Division

Posted as ASP, Guntakal Sub Division, Anantapur Division
ASP, Kanigiri Sub Division

 Part-II(Promotions) 

SI.No
Name of the official
Present place of working
Place of posting to the cadre of Assistant Superintendent of Post offices, on promotion
Remarks
1
P.Raja Gopal
IP, Gudur North
ASP, Kandukur sub Division
Vice Post vacant
2
G.Satish
IP, Guntur South
ASP(R), Prakasam Division Identified as project Manager, AEPS, Prakasam Division

Vice Post Vacant



Sep 4, 2013

Lok Sabha Passes Pension Fund Regulatory and Development Authority Bill, 2011

Subscribers Seeking Minimum Assured Returns Allowed to OPT for Investing their Funds in such Scheme Providing Minimum Assured Returns 

The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 was passed by the Lok Sabha today with official amendments. It was earlier introduced in Lok Sabha on the 24th March, 2011 to provide for a statutory regulatory body the Pension Fund Regulatory and Development Authority (PFRDA) under the provisions of the Bill. The legislation seeks to empower PFRDA to regulate the New Pension System (NPS). 

PS Group B DPC - An update

it was informed by G.S IP/ASP association  that DPC work is in process at Directorate, but due to some administrative reasons one more week for its finalisation as assured earlier is required. The request transfer cases of PS Gr. B officers are also likely to be considered along with DPC against the actual vacancies. 

Sep 3, 2013

President inaugurates the 11th Asian Pacific Postal Union Congress

The President of India, Shri Pranab Mukherjee inaugurated the 11th Asian Pacific Postal Union (APPU) Congress today (September 3, 2013) at Vigyan Bhavan, New Delhi. 

Speaking on the occasion, the President said that the Asian Pacific Postal Union, an inter-governmental organization of 32 countries of the region is actively working to improve cooperation among member nations in the field of postal services. He stated that the changing global scenario calls for postal administrations around the world to think differently. He called upon postal administration to be proactive to change. They must leverage their strengths to provide quality service to the people. He stated that worldwide, postal administrations enjoy the trust of people. 

Inspector Posts Examination 2013 - Circle wise Vacancy position

The Circle wise vacancy position of Inspector Posts Examination 2013 scheduled to be held on 14th and 15th September 2013 communicated vide Directorate memo No. A.34012/05/2013-DE dated 30th August 2013 is as follows. In the said memo it was directed to all Circles to verify & confirm the vacancies declared by them and circulate amongst all aspiring candidates well before the actual conduct of the Examination.
 

S. No.
Name of the circle
OC
SC
ST
TOTAL
1
Andra Pradesh
13
5
3
21
2
Assam
1
1
0
2
3
Bihar
5
3
0
8
4
Chhattisgarh
4
2
0
6
5
Delhi
2
0
0
2
6
Gujrat
No vacancy notified
7
Haryana
0
0
1
1
8
Himachal Pradesh
3
1
1
5
9
Jammu & Kashmir
1
0
1
2
10
Jharkhand
3
0
0
3
11
Karnataka
2
1
1
4
12
Kerala
No vacancy notified
13
Madhya Pradesh
8
1
0
9
14
Maharashtra
23
4
0
27
15
North East
6
1
0
7
16
Odisha
2
2
1
5
17
Punjab
2
0
2
4
18
Rajasthan
7
0
0
7
19
Tamil Nadu
12
11
0
23
20
Uttarakhand
4
1
1
6
21
Uttar Pradesh
24
0
2
26
22
West Bengal
10
0
1
11
Total

132

33

14

179




Sep 2, 2013

Adhoc promotions to PS Group B

Sri P.Parisudda rao, ASP Chirala on adhoc promotion to PS Group B  is posted as SPOs Nellore Dn vice post vacant vide RO Vijayawada memo dated 02.09.2013.