Pensioners accounts not to have more than 14 transactions in a Year

Reserve Bank Of India

RBI/2015-16/294

DGBA.GAD.No.2278/31.12.010/2015-16

January 21,2016

The Chairman & Managing Director/
The Chief Executive Officer
All Agency Banks

Dear Sir/Madam

Payment of Agency Commission on pension accounts

As you may be aware, agency banks are being compensated at Rs.65 per transaction for handling pension computation, payment and related services on behalf of Central and State Governments. As per the norms followed by the Government, a pensioner’s account should not have more than 14 credit transactions in a calendar year attributable to pension and related arrear payments, if any.

GOVT TO FACTOR IN PAYOUT OF 7TH PAY COMMISSION IN DEFICIT TARGETS

Expected to incur an additional expenditure of Rs 1.02 lakh crore to pay higher salaries and pensions recommended by the commission, Rs 28,000 crore alone will go for salary hikes of railway employees. In total, the implementation will impact the fiscal deficit by 0.65% of the GDP.

Experts feel that deficit figures shared in the medium-term fiscal policy statement had stated that the fiscal deficit target for FY17 and FY18 is 3.5% and 3.0%, respectively will have a significant impact from the pay commission pay out, leaving the government with higher deficit numbers.

Government Set To Increase Provident Fund Interest Rates

DELHI: The Employees Provident Fund Organisation’s (EPFO) finance panel has recommended raising the interest rate on statutory savings of over 5 crore subscribers from 8.75% to 8.95% during the current fiscal.

The proposal has to be endorsed by the central board of trustees before the finance ministry notifies it. If it goes through, it will be the highest return since the 9.5% paid in 2010-11 and the highest ever real interest rate (after netting out inflation) in recent years. An 8.95% rate will translate into returns of nearly 12% for those in the highest slab as the withdrawals and interest earnings do not attract tax at the time of withdrawal.

Immovable Property Return for the year 2015 (as on 31.12.2015) - submission through cscms.nic.in

HATS OFF TO THE EFFORTS OF CPC ODHISA - CBS FINACLE WORK FLOW

Postmaster Cadre Association (AIAPC) conveys its sincere thanks to the worthy contribution of CPC-Odisha Circle. Please Keep up the good work and en-light the staffs of India Post.

PLEASE CLICK HERE TO DOWNLOAD THE VERY USEFUL FINACLE WORK FLOW FILE

Implementation Of A New SDBS For Gramin Dak Sevaks Regarding

Constitution of an Empowered Committee of Secretaries to process the recommendations of the 7th Central Pay Commission

Central Government approved to set up Empowered Committee to process the recommendations of 7th Pay Commission in an overall perspective

Press Information Bureau 

Government of India

Cabinet

13-January-2016 16:37 IST

Constitution of an Empowered Committee of Secretaries to process the recommendations of the 7th Central Pay Commission

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval for setting up an Empowered Committee of Secretaries under the Chairmanship of Cabinet Secretary, in order to process the recommendations of 7th Central Pay Commission (CPC) in an overall perspective.

Pay Matrix Recommended by 7th CPC is not final and subject to change – Federation Sources

The Constituent Unions of NCJCM has called for three days’ agitation Programme from 19-1-2016 to 21-1-2016 to draw the attention of central government to settle the Modified charter of demands.

Recently they demanded the government to constitute an empowered Committee to settle their demands through negotiation. However, the Cabinet gave its approval for constitution of an Empowered Committee to study the 7th Pay Commission report for implementation Process.

IN SECRETARIAT LDC/UDC CLERKS ARE GOING TO BE PLACED WITH HIGHER PAY?????

According to a report in Press Trust of India (PTI), Tech-savvy and multi-tasking Executive Assistants will replace staffs working as Lower and Upper Division Clerks (LDCs and UDCs) in government jobs. 

The sixth Central Pay Commission had recommended that multi-skilled executive assistants with educational qualifications of a degree from a recognised university and a one year diploma in computer education should be recruited.

The multi-skilled executive assistants will execute the work of both, the present day assistants and stenographers and in their case CSS and CSSS cadres would be incorporated. Interestingly, the Commission did not make any suggestion on introduction of the scheme in its report submitted to the government recently.

PIB likely to approve India Post's payments bank proposal

By PTI, 19 Jan, 2016

NEW DELHI: The Public Investment Board (PIB) today discussed the Rs 800-crore proposal from the India Post for setting up a payments bank and the final approval on the same is expected in the next meeting.

"The proposal was discussed in the meeting today but no decision has been taken yet. Another meeting is likely in a week," a official in the postal department told PTI.

Fire at Madurai Postal Divisional office housed at Tallakulam Head Post Office second floor

Flames engulfing the second floor of Tallakulam Head Post Office on Tuesday.— Photo: G. Moorthy 

A major fire broke out on the second floor of Tallakulam Head Post Office here on Tuesday night. Fire and Rescue Services personnel, with the help of five fire tenders from Madurai and Tallakulam stations, fought the flames for more than an hour.

AIAPC- TAMILNADU CONVEYS BEST WISHES TO SHRI.KANAGARAJAN SSPOs

Shri. Kanagarajan Avl SSPOs, Pondichery division has been elected as All India President of All India Postal Officers Association held at Varanasi on 17.01.2016. All India Association of Postmaster Cadre conveying its sincere support and wishes to achieve more in his future endeavors. 

Comradely, 

R.Rajendran

Circle Secretary

AIAPC

Kuttalam S.O 609801