RBI cuts CRR: Home and auto loan rates expected to come down

MUMBAI: Your home and auto loan rates are expected to ease after the Reserve Bank of India slashed cash reserve ratio by 25 basis point to 4.50% in its mid quarter review of the monetary policy on Monday. CRR is the minimum proportion of deposits that banks must hold with the central bank. The CRR reduction is expected to inject Rs 17,000 crore liquidity into the banking system. 

The move is primarily aimed at managing the tight liquidity expected in the next few weeks on increased currency leakage during the upcoming festive season, and to ensure smooth flow of credit to productive sectors of the economy. 

Adequate and sustained liquidity will add to the banking and business confidence. We have seen a concerted reduction in deposit rates and eventually we will see lending rates softening. This will be translated into retail rates as well,'' said Rana Kapoor managing director and chief executive officer, Yes Bank. 

Only Retired Judges may head RTI commissions, says Supreme Court

NEW DELHI: The Supreme Court on Thursday edged out "eminent people" from heading commissions under the Right to Information Act by ordering that only sitting or retired chief justices of high courts and SC judges would be appointed as chief information commissioners at both the Centre and the states. 

In addition, sitting or retired HC judges should be preferred in appointment of information commissioners, it said, faulting the vague criteria for such appointments provided under the RTI Act. 

The bench of Justices A K Patnaik and Swatanter Kumar may have boosted post-retirement opportunities for HC and SC judges by ruling that the information commissions were "judicial tribunals" performing functions of "judicial" and "quasi-judicial" nature and had trappings of a court and should be headed by a judicial mind. 

The gain for retired judges would be at the cost of former officials. The Act prescribes appointment of information commissioners from among persons of eminence in public life and those with wide knowledge and experience in the fields specified under the legislation. 

Source :http://timesofindia.indiatimes.com

DOWNLOAD ADMIT CARD/HALL TICKETS FOR LGO EXAMINATION SCHEDULED TO BE HELD ON 16.09.2012

CLICK HERE TO DOWNLOAD ADMIT CARD/HALL TICKET

Working more than 8hrs a day ups heart risk

Working more than eight hours a day raises the risk of heart disease by up to 80 per cent, a new study has revealed.

Researchers said that long working hours could be condemning thousands of employees to heart attacks and strokes.

The warning follows analysis of 12 studies dating back as far as 1958, involving a total of 22,000 people from around the world.

USE OF BARCODE FOR BOOKING OF REGISTERED ARTICLES IS MANDATORY FOR ALL POSTOFFICES

Soon, the postman will knock, tablet in hand

Very soon, your friendly neighbourhood postman will bring along a tablet computer when he knocks at your door, to carry out all transactions related to delivery of cash, banking activities and a few more.

Infosys’Vice-President and Head for India Business Raghu Cavale told Business Line that India Post is in talks with the IT major to source hardware and software for the next phase of its computerisation. This project will involve sourcing of low-cost 7-inch and 10-inch tablets and the development of apps for them. Infosys will also develop intellectual property (IP) out of its Bangalore office for these apps.

Five foreign consultants in race for ‘Post Bank of India’ project

The Department of Posts has issued request for proposals (RFP) to fivetop notch foreign consultancy firms for the proposed Post Bank of India project.

The five short-listed firms are Accenture Services, Boston Consulting Group, Ernst & Young, KPMG Advisory Services and McKinsey & Co.

The Department of Posts (DoP) is looking to set up a bank — Post Bank of India (PBI) — to provide banking services with special focus on rural areas.

DOPT issued ‘Frequently Asked Questions’ (FAQ) on ‘Right to Information Act’ (RTI)

DOPT issued FAQ on RTI

Department of Personnel and Training has issued an another clarifications on Right to Information Act (RTI) as in the form of FAQ. Nearly seventeen questions and answers are compiled with simple and effective information. We reproduced the contents of the FAQ and given below for your reference…

FREQUENTLY ASKED QUESTIONS (FAQs) ON RTI (AS ON JANURARY 2012)

Q.1. What is Information?  

Information is any material in any form. It includes records, documents, memos, e-mails, opinions,  advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data 

material held in any electronic form. It also includes information relating to any private body which can be accessed by the public authority under any law for the time being in force.

ALL INDIA MEET OF POSTMASTERS OF INDIAPOST TO BE HELD AT MUMBAI ON 1ST OCTOBER 2012

DEAR POSTMASTER,

I HOPE THAT ALL THE CIRCLE CO ORDINATORS AND THE REGIONAL CO ORDINATORS OF THE MAHARASHTRA CIRCLE MIGHT  HAVE RECEIVED THE INVITATION FOR THE ALL INDIA MEET OF POSTMASTERS IN INDIA POST TO BE HELD OF 1ST OCTOBER 2012. IF NOT PLEASE GET THE PRINT OUT OF THE INVITATION IN THIS BLOG AND  INFORM AND INVITE ALL THE POSTMASTERS OF YOUR CIRCLE. THE REGIONAL CO ORDINATORS OF MAHARASHTRA MIGHT HAVE STARTED THE FUND RAISING FROM THE MEMBERS. THOSE WHO HAVE ALREADY COLLECTED THE FUND PLEASE CREDIT THE SAME IN THE SBI A/C NUMBER 32143498460 AT MUMBAI BRANCH  IMMEDIATELY.

THE CIRCLE REPRESENTATIVES WILL PAY THE DELEGATION FEE AT THE VENUE OF THE MEETING.

ALL THE BEST.... FOR ALL INFORMATION ABOUT THE PM MEETING CLICK BELOW :

courtesy:http://www.postmastermaharashtra.blogspot.in/search/label/PM%20MEETING

Minutes of the meeting of the National Anomaly Committee.

Click here to  view Minutes of the meeting of the National Anomaly Committee held on 17th July, 2012.