Postal savings schemes to have passbooks

RATE REVISION HASN’T AFFECTED NUMBER OF DEPOSITORS, SAYS POSTMASTER GENERAL

From July 1, customers investing in Kisan Vikas Patra (KVP) and National Savings Certificates (NSC) will not be issued printed certificates. They will instead get them as passbooks.

Earlier, the Department of Posts planned to shift to issue the certificates in electronic mode.

However, officials said that as the efforts to issue e-certificates did not materialise, it was decided to provide KVP and NSC in the form of passbooks.

At present, about 25,000 certificates of KVP and NSC are being sold under various denominations every month in the Chennai city region. While the KVP is available from Rs.1,000 to Rs.50,000, the denomination for NSC starts at Rs.100 and is restricted to Rs.10,000.

PREVENTION OF FRAUDS IN CBS - DIRECTORATE ORDERS DT.21.6.2016

How did Media arrive the 7th CPC Minimum Pay as Rs.23400?

For the past few days some News Agencies belongs to TV networks are blabbering about 7th CPC Minimum Pay and Implementation.

• They repeatedly claimed that Empowered Committee recommends 30% Increase in minimum wage. Thus Minimum Pay will be increased from 18000 to 23400 and highest pay will be increased from 250000 to 325000.
• They actually exposing their ignorance by saying 30% increase will increase the Minimum Pay to 23400/-

• The 7th CP recommended 14.29 % increase in minimum Pay

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Laxity and delinquent failure in performing of EOD in CBS on daily basis – Reg

Government keeps interest rates on small savings scheme unchanged

NEW DELHI: Government has kept interest rates unchanged for various small savings schemes for the July-October quarter of 2016-17 fiscal. 

The Finance Ministry in a statement today said that interest rate on one-year deposits for July-October quarter of this fiscal has been kept unchanged at 7.1 per cent. 

Similiarly, interest rate on two-year time deposit, three-year time deposit and five-year time deposit were kept at 7.2 per cent, 7.4 per cent and 7.9 per cent, respectively. 

7th Pay Commission implementation: Govt says amount allocated to manage impact

Speculations are rife as Centre to take decision on 7th Pay Commision report implementation as around 47 lakh Central Government employees working in various sectors await their salary hike, which will have implications for government finances and inflation. 

At a time when there are no conclusive increase in the private sector spending yet and the government also losing the benefits of low oil prices, it is facing a tough challenge in keeping up with the spending in public sector. 

S B Order No. 4 / 2016 : Stoppage of sale of pre-printed NSC and KVP

 Stoppage of sale of pre-printed NSC and KVP from 01.07.2016 and issue of certificates in the shape of Pass Books regarding

NOTIFICATION RELEASED FOR LDCE FROM LGO TO P.A./S.A.s FOR THE VACANCIES OF THE YEAR 2015-2016 IN TN CIRCLE

Centre allows premature closure of PPF account

In a significant move, the Finance Ministry has allowed subscribers of the Public Provident Fund (PPF) to prematurely close their accounts after a minimum of five years for reasons such as higher education or expenditure towards medical treatment.

The Finance Ministry has also retained the interest rates on all small saving products for the second quarter of the fiscal.

On PPF, the Ministry, in a notification, said, the subscribers can close the account if “the amount is required for serious ailments or life threatening diseases of the accountholder, spouse, dependent children or parents…or the amount is needed for higher education of the account holder or the minor account holder.” It further added that supporting documents and bills will have to be produced.