7th Pay Commission latest news: Shri.Rajesh Kumar Chaturvedi to issue notification of salary hike within 7 days

More than 47 lakh Central Government employees and 53 lakh pensioners have been eagerly waiting for implementation of 7th Pay Commission.

New Delhi, July 23: The newly appointed IAS officer Rajesh Kumar Chaturvedi who was given an additional charge of chief of implementation cell of the 7th pay Commission is likely to issue a notification of salary hike within seven days. Chaturvedi who had earlier worked as a Central Board of Secondary Education (CBSE) chief has been working on the implementations of 7CPC recommendations which was approved by Narendra Modi government last month.

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Savings Account • Rate of interest 4% per annum • Minimum INR 20/- for opening. •  Account can be opened by cash only. •  Minimum balance to be maintained in a non-cheque facility account is INR 50/-. •  Cheque facility available if an account is opened with INR 500/- and for this purpose minimum balance of INR 500/-in an account is to be maintained. •  Cheque facility can be taken in an existing account also. •  Interest earned is Tax Free up to INR 10,000/-  per year from financial  year 2012-13. •  Nomination facility is available at the time of opening and also after opening of account.   •  Account can be transferred from one post office to another. •  One account can be opened in one post office •  Account can be opened in the name of minor and a minor of 10 years and above age can open and operate the account. •  Joint account can be opened by two or three adults. •    At least one transaction of deposit or withdrawal in three financial years is necessary to keep the account active. •    Single account can be converted into Joint and Vice Versa.  Minor after attaining majority has to apply for conversion of the account in his name. Deposits and withdrawals can be done through any electronic mode in CBS Post offices..  *Inter Post office transactions can be done between CBS post offices * ATM/Debit Cards can be issued to Savings Account holders( having prescribed minimum balance on the day of issue of card) of CBS Post offices.

Recurring Deposit Account

Chennai GPO may be first T.N. post bank: The Hindu

Chennai General Post Office (GPO) is likely to be first post bank in the State to be launched early next year. The Department of Posts is planning to set up ‘India Post Payment Banks’ (IPPB) using the postal network to provide banking services to people. Aimed at providing access to banking services to people particularly in rural areas, the IPPB will provide a range of services, including direct benefit transfers and facilitate various payments like old age pension and government subsidies. The vast network of post offices would be used to eventually even deliver the payment at the doorstep of customers. Officials of the postal department said such post banks would function as separate entity and function according to the guidelines of Reserve Bank of India. Mervin Alexander, postmaster General (Chennai city region), said, “Payment banks will deal with money remittances of all kinds to people. This could be useful to people particularly in rural areas who have limited access to banks. But, it will not provide loans. However, savings schemes and deposits will remain under post offices at this point of time.” Earlier, core banking network solutions and postal ATMs were started as part of an initiative to provide banking services at post offices. Net banking and mobile banking will be the next step towards reinventing the postal services according to the changing trend. The department has also announced a competition for logo design and tagline for the proposed IPPB. The tagline should not exceed eight words either in English or Hindi and the best entries will be awarded with a cash prize of Rs.25,000. The last date of submission is July 31.

BITTER FACTS ABOUT 7TH PAY COMMISSION !!!

After the Cabinet approval, the Finance Minister tweeted, “Congratulations to central government officers, employees & pensioners on a historic rise in their salary & allowances through the 7th Pay Commission.”

The Central Government Employees were dismayed by this tweet and wondered how it was described as historic rise. There are so many hidden facts in the cabinet approval for implementation of 7th Pay Commission recommendations.

What did the Empowered Committee of secretaries do in Sixth months and what did they recommend? There was nothing mentioned about the report of this committee submitted to Cabinet and Whether the cabinet considered the ECoS recommendations or not.

This is the first time in the Pay Commission History that Pay Commission recommendation are going to be implemented in staggered manner. Only Basic Pay alone will be revised. All other Allowances will be revised after four months.

After second Pay Commission, this is the lowest hike recommended in Pay Scale. Just 14.27%. 30% hike is expected invariably by all cg employees.

IndiaPost plans 50 payments bank branches by May

India Post expects to start the first 50 branches of its payments bank by May 2017, seeking to widen financial inclusion in the country. 

As per the current plan, India Post Payments Bank (IPPB) - as it has been termed - will eventually have 650 branches across the country. 

While the first set of branches will open by May, the remaining will start operations by September 2017, a top official of the Department of Posts said. 

Cadre Restructuring of Group-C employees in Department of Posts - Odisha Circle

Casual Labourers with temporary status clarification regarding contribution to GPF and Pension under the Old Pension Scheme.

Reduction In Tatkal Quota in Indian Railway

Press Information Bureau

Government of India

Ministry of Railways

22-July-2016 17:28 IST

Reduction In Tatkal Quota in Indian Railway

Although Zonal Railways can earmark a maximum of 30% of available accommodation as Tatkal, yet Tatkal quota like all other reservation quotas is reviewed on a periodical basis so as to earmark it based on realistic demand pattern, by reducing it if required. In 2015-16, approximately 18.20% of the total accommodation has been earmarked as Tatkal quota (including Premium Tatkal). Moreover, adequate safeguards have been built in the scheme and various steps have been taken to avoid misuse of the Tatkal scheme, some of which are as under: 

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7th Pay Commission latest news: Government has to notify CPC recommendations within 7 days to implement salary hike from August

Without the official notification, the salaries received by central government employees on August 1 would not be hiked as per the CPC recommendations.

New Delhi, July 20: Although the revised recommendations of 7th Pay Commission has received a formal nod of approval from the Union Cabinet, the gazette notification for finalizing the salary hike is awaited. Without the official notification, the salaries received by central government employees on August 1 would not be hiked as per the CPC recommendations. Government has to notify the new pay scale within 7 days in order to implement the 14.29 percent hike in basic pay.