Interest rates on small savings schemes may go up by 0.25%

     The government is likely to hike the interest rates on deposit schemes offered by post offices, like savings account, Monthly Income Scheme (MIS), Public Provident Fund (PPF), etc by about 0.25 per cent from April 1.


     A circular on revised interest rate on small savings scheme will be issued by March 28, official sources said, adding that there could be a 0.25 basis points hike in the rates.

     "We are in the process of calculating the rates. The new rates will be applicable from April 1," they added.

Validity of cheque came down to 3 months wef 1st April 2012

Validity Of Cheque/Draft/Pay Orders/Banker’s changed To 3 Months Instead Of 6 Months

 From April 1st 2012 onwards validity of Cheque /Draft/Pay orders/ Banker's Cheque will be three months instead of 6 months.A circular issued by the Reserve Bank of India has asked all banks to implement the new rule from April 1, 2012. It has asked banks to notify holders of such instruments of the change in practice by printing or stamping on the cheque leaves, drafts, pay orders and banker's cheques issued on or after April 1, 2012,

The new rule come into force because that some unscrupulous people were circulating the cheques as cash for close to six months, thereby creating a tradeable instrument which was never intended under the RBI rules.

 Banking circles said the move could lead to some practical problems for individuals, particularly if they were not aware of the new rule that would come into effect next year. “People should not only present their cheque in time, but also ensure that if they are receiving a cheque from a company for a service rendered, the date should be checked,” a banker said.

CABINET APPROVES 7% HIKE IN DEARNESS ALLOWANCE

CABINET APPROVES 7% HIKE IN DEARNESS ALLOWANCE             

UNION CABINET APPROVED A PROPOSAL TO HIKE ADDITIONAL DEARNESS ALLOWANCE BY 7% FOR CENTRAL STAFF AND CENTRAL PENSIONERS.

THE CENTRAL GOVERNMENT ON FRIDAY APPROVED A SEVEN PER CENT HIKE IN DEARNESS ALLOWANCE TO CENTRAL GOVERNMENT EMPLOYEES AND PENSIONERS, THIS HIKE IS TO BE EFFECTIVE RETROSPECTIVELY FROM JAN 2012.

THE DEARNESS ALLOWANCE AND DEARNESS RELIEF FOR CENTRAL GOVERNMENT SERVING EMPLOYEES AND PENSIONERS WILL INCREASE FROM 58% PER CENT OF BASIC EMOLUMENTS TO 65% PER CENT WITH EFFECT FROM 1.1.2012.

Railway minister Mukul Roy announces rollback in rail fare hike

Rollback in Rail fare

Roy announced rollback in Rail fare hike in Sleeper class, Chair car and 3rd AC while fares in 1st and 2nd AC will remain unchanged.
Earlier Ex-Railway Minister Dinesh Trivedi during his Rail budget speech had proposed to hike Rail fares by 2 paise per km in ordinary second class and suburban services; by 3 paise in mail/express second class; 5 paise per km in sleeper class; 10 paise per km in AC 3-tier, AC chair car, and non-AC First Class; 15 paise per km in AC two-tier; and 30 paise per km in AC first class.
This was supposed to be the first hike in passenger fares in 10 years.

GROUP - I EXAMINATION GENERAL KNOWLEDGE

Q.1) Bharat Nirman Scheme of the UPA Government does not include :
(A) Rural Water Supply Project
(B) Irrigation Benefit Programme
(C) Rural Electrification
(D) Sarva Shiksha Abhiyan
Ans: D
Q.2) Which one of the following committee recommended the abolition of reservation of items for the small scale sector in industry?
(A) Abid Hussain Committee
(B) Narasimhan Committee
(C) Nayak Committee
(D) Rakesh Mohan Committee
Ans:A
Q.3) In the last one decade which one among the following sectors has attracted the highest Foreign Direct Investment inflows into India?
(A) Chemicals other than fertilizers
(B) Services sector
(C) Food Processing
(D) Telecommunication
Ans:D
Q.4) Who formulates the monetary policy in India?
(A) SE BI (B) RBI (C) Finance Ministry (D) Planning Commission
Ans:B
Q.5) The population of UttarPradesh has been rapidly growing during the last two decades because of :
(A) Increased literacy rate (B) Improvement in health and control of diseases
(C) Improved agriculture (D) Rapid urbanization
Ans:D

Delivery Guidelines of Department of Posts, for UID Articles

Reasons	Explanation	Action	Uploaded info speednet
Addressee not available at time of delivery	Door locked/addressee not available at the time of delivery for addressee specific articles	Intimation server	Intimation served
Addressee moved	Address has moved from the address and has left instructions as to redirection of his communication	Article NOT TO BE REDIRECTED BUT RETURNED TO THE “RETURN” ADDRESS AS MENTIONED ON THE uid LETTER COVER ON THE SAME DAY	Return to thesender
Item refused by address	Addressee refused to accept the article	RETURNED TO THE “RETURN” ADDRESS AS MENTIONED ON THE uid LETTER COVER ON THE SAME DAY	Return to thesender
Deceased	In case of addressee specific article, if the addressee has deceased		Return to thesender
Insufficient address	The address given on the article is incorrect, however the addressee can still be located anddelivery can be made within the same office	Article NOT TO BE REDIRECTED BUT RETURNED TO THE “RETURN” ADDRESS AS MENTIONED ON THE uid LETTER COVER ON THE SAME DAY	Return to thesender
Insufficient address	Address given on the article is not complete-like name of street, house number, locality etc are not given	Article NOT TO BE REDIRECTED BUT RETURNED TO THE “RETURN” ADDRESS AS MENTIONED ON THE uid LETTER COVER ON THE SAME DAY	Return to thesender
Addressee cannot be located	There is no person of that name at the address or addressee ha gone away without leaving any instruction as to the disposal ofcorrespondence and no reliable information is available about his/her new address		Return to thesender
UNCLAIMED	Intimation was served but the article was not takendelivery of by the addressee or his/her representative till the dateof retention of the article in the office	Return of the “return” address as mentioned on the UID letters cover after the completion of period of retention (i.e 7 days following the day of receipt) at the post office	Return to thesender
Missent	The Address is correct  bu it fails in delivery area ofanother office	Article to be redirected to the address as mentioned on the UID letter on the same day	Return to thesender

COPY OF LETTER NO – BD & MD dated 06.06.2011

  

UID Time limit 

Delivery in Departmental offices :14 days

Delivery in Branch offices:17 days

Courtesy :  satirur 

Small Savings set to fetch higher returns

There is finally some good news for individuals in a season of duty hikes and provident fund rate cut. The government is raising interest rate on small savings schemes such as National Savings Certificate (NSC) and post office deposits by 20-50 basis points.

The new rates will, however, be applicable on investments that you make from April 1 and not on those that you park over the next 10 days to meet your tax saving requirements.

As a result, NSC and public provident fund (PPF), which is a voluntary deposit as opposed to employee provident fund, will earn you 8.8-8.9% instead of 8.6% a year.

Expansion of Postal Services

The Government has formulated comprehensive working plan for the development, expansion and modernization of postal services. Under this, major activities , as laid out in XII Five Year Plan, include opening of branch Post Offices, setting up of Automatic Mail Processing Centers, development and deployment of Rural ICT solution, deployment of Core Banking, increasing insurance cover, establishment of Parcel and Logistics Post Hubs, up gradation of Speed Post Centers, Human Resource Training to Personnel, construction of Post offices/administrative offices, installation of Solar Power Packs and setting up of Postal Training Centers.

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