Government on Thursday approved 7 per cent hike in dearness allowance (DA), taking it to 107 per cent of basic pay, a move that will benefit around 30 lakh central employees and 50 lakh pensioners including dependents.
"The Union Cabinet chaired by Prime Minister Narendra Modi, today gave its approval for the release of an additional instalment of DA to general government employees and Dearness Relief (DR) to pensioners with effect from July 1, 2014. This is an increase of seven percent over the existing rate of 100 percent of the Basic Pay/Pension, to compensate for price rise," a press statement said here.
MASSIVE PARLIAMENT MARCH OF 20000 POSTAL & RMS EMPLOYEES INCLUDING GRAMIN IAK SEVAKS ON
10th DECEMBER 2014 AT NEW DELHI Demanding settlement of Postal JCA (NFPE & FNPO) charter of demands submitted to Govt. andPostal Board.
PREPARE FOR INDEFINITE STRIKE IF GOVT. REFUSES TO SETTLE THE DEMANDS
Twenty Thousand (20000) Postal & RMS employees including Gramin Iak Sevaks will march to Parliament on 10-12-2014, demanding immediate settlement of charter of demands submitted postal JCA to Govt. and Postal Board. All Branch / Divisional / Circle Secretaries of all affiliated Unions / Associations of NFPE & FNPO (P3, P4, R3, R4, Admin, Postal Accounts, SBCO, Civil Wing and GDS) are requested to start preparations now onwards to ensure maximum participation of members in the Parliament March. Let us make it a historic success.
Finance Minister Approves Setting-up of A Committee to Examine un-Claimed Amount Remained in PPF, Post Office and Savings Schemes and Recommend how this Amount can be Used to Protect and Further the Financial Interest of the Senior Citizens.
The Union Finance Minister Shri Arun Jaitley has approved the setting-up of a Committee under the Chairmanship of Deputy Governor, Reserve Bank of India(RBI) to examine un-claimed amount remained in PPF, Post Office, Savings Schemes etc and recommend how this amount can be used to protect and further the financial interest of the senior citizens.
The Finance Minister, vide para 39 of his Budget Speech 2014-15, had announced that “a large amount of money is estimated to be lying as unclaimed amounts with PPF, Post Office, Savings Schemes etc. these are mostly out of investments belonging to the senior citizens and on their demise, remain unclaimed for want of relevant payment instructions” and has proposed to set-up a Committee to examine and recommend how this amount can be used to protect and further financial interest of the senior citizens.
Accordingly, with the approval of the Union Finance Minister, a Committee has been set-up with the following composition:
1) Deputy Governor, RBI – Chairman 2) Secretary, Department of Posts – Member 3) Joint Secretary (Law), M/o Law and Justice – Member 4) Dy. Managing Director of S.B.I – Member 5) Executive Director, Punjab National Bank – Member 6) Joint Secretary (Budget), DEA – Member 7) Joint Director, – Member Secretary National Savings Institute
The Terms of Reference (TOR) of the Committee would be:
· Based on defined scope, by Reserve Bank of India, estimation of amount lying unclaimed under various scheme`s (Small Savings and other Savings Schemes of banks) with Post Offices/ Public Sector Banks; · Procedure for bringing such unclaimed deposits to a common pool to be suggested by the Committee. Changes, if any, required to be made in the legal framework may be suggested. Committee to also suggest if such a pool should be placed within Government account or outside it. · Committee to recommend how this unclaimed amount can be used to protect and further financial interests of the senior citizens.