Restriction on Issue of Cheques from Saving Bank Accounts

Reserve Bank of India (RBI) has issued a Master Circular dated 02.07.2012 on ‘Customer Service in Banks’ which, inter-alia, provides that banks may issue cheque books with larger number of leaves (20 or 25) if a customer demands the same and also ensure that adequate stocks of such cheque books (20 / 25 leaves) are maintained with all the branches to meet the requirements of the customers.

This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Rajya Sabha today.

Source : pib

S B order No. 02/2013

Enhancement of limit for verification of withdrawals from Savings Accounts made at Extra Departmental Sub/Branch Post Offices and Single Handed Post Offices

To view SB Order No.02/2013 wherein the present limit of Rs.5000/- has been enhanced to Rs.10,000/- w.e.f. 01.03.2013  

Click here to view S B Order No. 02 / 2013

Negative List Updation Patch

The file 'NL_20130131.exe' should be copied to DBAnalyzer folder and executed after completion of day's transactions. This will update the negative list upto 31/01/2013  in Sanchay Post.

In addition to Negative List, updations relating to PINCODE details are also done in the database. Hence, execution of this patch will take longer than the usual updation time. System Administrators should ensure that the server is not switched off till successful execution of the patch.

Note:
This patch file updates the negative list available in Sanchay Post software. To confirm updation, use the "Database Discrepancies >> NSC >> Details of Negative List Updation" option available in DBAnalyzer software.


Downloadable from FTP site of PTC, Mysore

Budget 2013: Home loan borrowers allowed additional deduction of Rs 1 lakh

NEW DELHI: In a move that will bring cheer to many prospective home-owners, Finance MinisterP Chidambaram announced incentives for home loan borrowers in his budget 2013 speech.

Chidamabram said that any person taking a first time home loan up to Rs 25 lakh during the financial year 2013-14 will be allowed an additional tax deduction of interest of up to Rs 1 lakh.

Finance Minister said that the move will help promote affordable housing and also provide employment to many in the construction sector.

Chidambaram started his speech by reiterating the resolve of his government to cut expenditure and bring the Current Account Deficit back on track. He also pointed out how India is still the third fastest growing economy amongst the bigger countries.

As the speech progressed, the FM went on to reiterate UPA's pet goal of inclusive development. he subsequently announced many schemes & allocations for SC, ST, women, differently-abled and other schemes such as Sarv Shiksha Abhiyan & provided additional allocation for the food security plan.

Presenting his eighth Union Budget, Finance Minister P Chidambaram in his budget 2013 speech gave emphasis to the need for 'inclusive growth'. The budget will focus on higher growth and financial inclusion, he said.

"Many people will be left behind if we do not pay attention to growth," he said. Chidambaram said that any growth should also be sustainable.

Chidambaram acknowledged that the room for a fiscal stimulus is constrained and that deficit levels are high.

Source : http://economictimes.indiatimes.com/

Clarification about treatment of Voter ID Card and Aadhaar Card as age proof.

Highlights of Railway Budget 2013-14

· 67 new Express trains to be introduced

· 26 new passenger services, 8 DEMU services and 5 MEMU services to be introduced

· Run of 57 trains to be extended

· Frequency of 24 trains to be increased

· First AC EMU rake to be introduced on Mumbai suburban network in 2013-14

· 72 additional services to be introduced in Mumbai and 18 in Kolkata

Schedue for Inspector Posts Induction Training.

Directorate vide letter No. 1-39/2009-Trg. dated 18.02.2013 has issued the following schedule to all PTCs for imparting Induction Training to the 189 departmental Inspector Posts candidates declared successful in the IP Examination held on 13th and 14th October 2012. Besides, the backlog of 2011 will also be covered. The Induction Training will be commenced in multiple batches at PTCs.

Name of the circle	Name of Training Centre	No. of IP candidates	Tentative dates
AP, Assam, Karnataka, Kerala, NE Orissa, TN	PTC Mysore	64 (including 4 of IP Exam 2011)	04/03/2013
Delhi, Haryana, HP J&K, Punjab, Rajasthan, Uttarakhand and UP	PTC Saharanpur	93 (including 31 of IP Exam of 2011)	04/03/2013
Bihar & West Bengal	PTC Vadodara	32 (including 23 of IP Exam 2011)	25/03/2013

Coming soon, Post Bank of India

The postal department plans to enter the banking business with the Reserve Bank of India deciding to grant new bank licences to entities with credible track-record.

Consultant appointed

Sources said the Department of Posts, which has a strong foot print in rural areas, has appointed Ernst and Young (E&Y) as the consultant for the proposed ‘Post Bank’

“Ernst and Young is expected to submit a detailed project report by April, after which all the necessary measures will be taken up to apply for banking licence,” a source at the Ministry of Communications and Information Technology told PTI.

The sources added that the Department of Post (DoP) might need Cabinet approval for setting up Post Bank of India.

Of the 1.55 lakh post offices in the country, around 24,000 district offices may be ready to offer banking services in the next two years.

The DoP is in process of setting up 1,000 ATMs.

“Post Bank shall not only take care of the banking needs of the rural poor but shall also converge with micro-insurance and micro-remittance services of the DoP,” the source said.

As per data shared with Parliament, there were over 26 crore operational small savings accounts in post offices as on March 31, 2012, having deposits worth Rs.1.9 lakh crore.

Keywords: Postal department, banking sector, Post Bank, new bank licences, Reserve Bank of India, Ernst and Young

http://www.thehindu.com/business/Industry/coming-soon-post-bank-of-india/article4443509.ece

Clarification on change of Nominee and Insurant name

To view the details, please CLICK HERE.

Payment of incentive to SDl/ASP Sub Divisions for verification of RPLI proposals

To view the copy issued by Directorate of PLI, please CLICK HERE.