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Result of IPO Examination 2012

Result of the Departmental Examination for selection to the posts of Inspector of posts examination for selection to the post of Inspector of Posts Examination for the year 2012 held from 13th and 14 th October 2012.

Download the Results

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Source : www.indiapost.gov.in

Advances to Government servants - Rate of interest for purchase of conveyances during 2012-2013

Click here to view the bilingual O M No. 5(2)-B(PD)/2012 dated 7th January,2013 issued by Ministry of Finance, Department of Economic Affairs

Postal Department to set up Post Bank of India

The Indian Department of Posts may complete the planning phase for the creation of the Post Bank of India very soon. Post Bank of India is being set up to provide all banking facilities to the rural population, who have to rely upon informal sources for credit and other financial requirements.

It is reported that a detailed project report (DPR) will be submitted in a few weeks from now explaining the organization structure of the proposed institution. The DPR is likely to describe the relationship amongst the founding bodies, the Department of Posts and Post Office Savings Bank with the Post Bank of India.

For implementing the DPR, an external body of foreing consultants has been selected. The implementation of the project may be carried out by anyone of the firms - McKinsey & Co, Boston Consulting Group, Accenture Services, KPMG Advisory Services and Ernst & Young. The DPR will be finalized by December 31, 2012.

Post Bank of India is being established as a profit making institution particularly to help Department of Posts in lessening its losses.

Source :  http://www.rupeetimes.com

India Post 2013 Calendar

Department of Posts released India Post 2013 Calendar based on the theme of  Astrological Signs.

The occult has always held a fascination for the human mind. Whether it is deemed an art or a mathematically accurate science, the fascination remains. From the days of  Vedic astrology and the Delphic Oracle to current days, we have an inherent curiosity about ourselves, our past and future.

The twelve zodiac signs are represented by figures and symbols and associated with constellations and planets and their old Greek or Roman or Indian legends. Without any partisanship on the veracity or otherwise of astrology and the occult arts, the Department of Posts had issued a set of stamps on zodiac astrological signs. The designs of the stamps are rooted in Indian folk art and depict the 12 zodiac signs- against four base colors which reflect the elements of earth, air, fire and water. India Post 2013 Calendar is inspired by these postage stamps.

India Post 2013 Calendar is available at various Philatelic Bureaus in the country at the price of Rs. 250/-

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Source: www.indiapost.gov.in

Tenure posting of officials in single handed & double handed post offices

Click here to view Order - Tenure posting of officials in single handed & double handed post offices - Preventive Vigilance Measure - No. 8-4/2005-Inv dated 05.12.2012

Complaints regarding huge loss to the public exchequer by LIC and others by using privately manufactured Inland Letter Cards not in conformity with specification given in Gazette Notification No.GSR 400(E), dated 26.05.2008

Variation in Rate of interest by Different Banks

The Reserve Bank of India (RBI) with effect from October 22, 1997 has permitted commercial banks to decide the rates of interest payable on domestic term deposits of various maturities with the prior approval of their respective Board of Directors/Asset Liability Management Committee. The banks are now free to offer any interest rate on domestic term deposits according to their cost structure with the approval of their board.

Revision of Instant Money order tariff w.e.f 22.12.2012

Postal directorate has revised the Instant Money Order Tariff with effect from 22.12.2012 vide Letter No.95-02/2012-FS dated 19th December, 2012.
The revised Tariff is as follows :

Remittance Slab	Revised Tariff
Rs 1000 -  10,000	Rs 100/-
Rs 10,001 – 30,000	Rs 110/-
Rs 30,001 – 50,000	Rs 120/-

Click here to view the Directorate letter in original.

Deadline For New Cheque Format Extended Till March 31, 2013

Bank account holders can continue to use their old format cheques for another three months as RBI has extended the deadline for banks to issue new cheques with uniform security features till March next year.

The Reserve Bank in a notification today said, "Taking into consideration representations, it has been decided to extend the time up to March 31, 2013 for banks to ensure withdrawal of non-CTS 2010 Standard cheques and replace them with CTS-2010 Standard cheques."

The central bank, however, indicated that it might impose some kind of fees for such cheques after March 2013.

This is circular given by RBI on same.