INTEREST TABLE W.E.F 01.04.2013

INTEREST TABLE W.E.F 01.04.2013

RD Maturity Value for Denomination of Rs.100

Maturity Value before 01.12.2011	Maturity Value w.e.f 01.04.2012 to 31.03.2013	Maturity Value w.e.f 01.04.2013
Interest @ 7.5 %	Interest @ 8.4 %	Interest @ 8.3 %
Rs. 7289/-	Rs. 7465/-	Rs. 7445/-

RD Maturity Value for Denomination of Rs. 100/-

in case of extension after 5 Years

Maturity Period	Interest @ 8.40 % 01.04.2012 to 31.03.2013	Interest @ 8.30% w.e.f 01.04.2013
5 Years	7465	7445
6 Years	9368	9338
7 Years	11436	11392
8 Years	13682	13622
9 Years	16124	16044
10 Years	18777	18672

MIS Monthly Interest for Denomination of Rs.150000/-

Monthly Interest before 01.12.2011	Monthly Interest  w.e.f 01.04.2012 to 01.04.2013	Monthly Interest  w.e.f 01.04.2013
Interest @ 8.0%	Interest @ 8.5%	Interest @ 8.4%
Rs. 1000/-	Rs.1062/-	Rs.1050/-

NSC5 Year Maturity Value for Denomination of Rs.10000/-

Maturity Value before 01.12.2011	Maturity Value  w.e.f 01.04.2012 to 31.03.2013	Maturity Value  w.e.f 01.04.2013
Interest @ 8.0%	Interest @ 8.6%	Interest @ 8.5 %
Rs. 16010/- (6 Year)	Rs.15235/- (5 Year)	Rs.15162/- (5 Year)

NSC 10 Year Maturity Value for Denomination of Rs.10000/-

Maturity Value  w.e.f 01.04.2012 to 31.03.2013	Maturity Value  w.e.f 01.04.2013
Interest @ 8.9%	Interest @ 8.8%
Rs.23887/-	Rs.23660/-

SCSSQuarterly Interest for Denomination of Rs.100000/-

Interest @ 9.3%	Interest @ 9.2%
Quarterly Interest  w.e.f 01.04.2012 to 31.03.2013	Quarterly Interest  w.e.f 01.04.2013
Rs.2325/-	Rs.2300/-

Courtesy : http://akulapraveen.blogspot.in/

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Dispatch of Admit cards for PA/SA Recruitment examination.

DEPARTMENT OF POSTS

Office of the Chief Postmaster General, Delhi Circle

Meghdoot Bhawan, New Delhi-110001

(M.O. Section)  

To                                                                                                                                  

All CPMsG
 In India.
           
No:- Mails/42-1/PA/SA/DR/2013                                                                                  dated 28.03.2013

Sub:     Dispatch of Admit cards for PA/SA Recruitment examination.

This is regarding dispatch of 10.67 lac of admit Cards through ordinary post (with pre fixed Rs.5/- stamp) tendered by CMC Limited.

The said mails have been tested on machine (LSM) & found that the mails were not compatible  with machine. 

Due to acute shortage of manpower it is very difficult to make the sorting work of 10.67 lakh mail at AMPC/Delhi. Keeping in view the such huge & time bound mail, it has been decided to dispatch these all mail circle-wise to circle’s headquarters for further sorting, dispatch and delivery within circle.The breakup of the total mail with indication of total mail for each circle is enclosed for ready reference.

It is, therefore, requested to kindly make the proper arrangement of sorting, dispatch and delivery of admit card in your circle. These mails will be dispatched by the S.J. MBC to circle's headquarter indicating ‘SPL’bag on label for further necessary action.

 Asstt. Director(MO)

o/o CPMG, Delhi Circle

New Delhi-110001

 Copy to:

1.     DDG(Rectt.) Postal Directorate, Dak Bhawan New Delhi-110001 for information and necessary action.
2.     Director (MB) Postal Directorate, Dak Bhawan New Delhi-110001 for information and necessary action.
3.     Sh. Sanjeev Dham Dy. General Manager CMC Limited  Okhla Phase I New Delhi-110020.He is requested to make the arrangement of handing over circle-wise mails with  stamp of Rs. 5/-affixed on each letter to S.J. MBC S.J.Airport New Delhi-110003 w.e.f. 01-04-2013.
4.     SSRM Air Mail Sorting Division New Delhi-110021 for information and making proper arrangement of receipt and dispatch of above said mails direct to concerned Circle’s headquarters with indication ‘SPL’ bag on labels.  

Postal department launches service to transfer money via cellphone

ALLAHABAD: Sending and receiving a money order will be easier now than ever as India Post introduces money order facility through mobile phones. Under the Mobile Money Transfer Service (MMTS) minimum amount of Rs. 1,000 and maximum of Rs. 10,000 can be sent in a single transaction, whereas there is no limit to the maximum number of transactions made in a day.

Inaugurating the service at Allahabad Kutchery Head Post Office, Krishna Kumar Yadav director Postal Services Allahabad region said Mobile Money Transfer is a financial service is a facility for remittance and receiving of money at selected post offices. The director launched the service by sending money from Allahabad Kutchery Head Post Office to Pratapgarh Head Post Office.

Yadav said rates of the service have been fixed low, keeping in mind needs of customers. A person sending money through MMTS will be charged Rs 45 for sending money in the range of Rs 1,000-Rs 1,500, Rs 79 for an amount between Rs 1,501 and Rs 5,000 and Rs 112 for money transfer for an amount from Rs 5,001 to Rs 10,000.

In the pilot phase this service has been started in 136 post offices of Uttar Pradesh, whereas 19 offices of Allahabad Region have been covered in this phase. It will be the priority of the department to cover offices in rural and remote areas under the service. In Allahabad, the service has been started in Bamaila, Atraura and Aura branch post offices, Mau Aima Sub Office and Allahabad Kutchery Head Post Office.

Yadav added that the Department of Post had partnered with state-run BSNL to launch the mobile money transfer service. BSNL will handle the technology backend for the department and provide connectivity.

Under Mobile Money Transfer Service, customers will have the facility to send money anywhere in the country. Specially designed mobile handsets with preinstalled mobile money transfer application have been provided to the offices selected to carry out this service.

DBT funds in post offices soon

Racing against time to make the ambitious Direct Benefits Transfer (DBT) visibly effective before the 2014 general elections, the government will bring money transaction through post offices under the DBT ambit. This desperate move is aimed as a remedy to banks opening accounts of DBT beneficiaries at snail’s pace.

Ahead of the Prime Minister’s review meeting with key ministers, the government announced that post offices will also be included from October 1 while three pension schemes — for old age persons, widows and the disabled — would now be covered under DBT from July 1. The list would also include districts where the beneficiaries’ biometrics were collected under the National Population Register (NPR). They include Odisha, West Bengal, UP, Uttarakhand, Bihar and Chhattisgarh.

Several complaints had poured in after the scheme was launched from January 1 about the problems of the banks to open zero-balance accounts of the beneficiaries, especially in rural areas.

The government also targets to expand the DBT to cover 78 more districts in the next phase of the DBT rollout which will begin from July 1.

To plug the loopholes, PM’s focus will be on digitisation of databases and opening of more bank accounts. “There will be a thrust on digitisation of data of beneficiaries in all districts, irrespective of the rollout of DBT as this is a critical activity which need not wait and can be done in parallel,” said a press release.

“The department of financial services will be asked to ensure coverage of all beneficiaries with bank accounts. It will ensure that all Micro-ATMs that are procured will have specifications such that they are inter-operable and are Aadhaar enabled,” the release added.

Courtesy: Hindustan Times, 06.04.2013

Coming soon: ATMs, Internet banking at post offices

There is a good news for around 200 million post office saving bank (POSB) account holders. 

The Department of Posts (DOP) has launched a project to provide account holders with ATM facility. Under the project, all post offices throughout the country will be connected through an IT network.

Besides, account holders will also be able to avail Internet banking facilities.

“We will connect the network of 1.55 lakh post offices that includes 1.2 lakh in rural areas,” said Kavery Banerjee, member, technology, postal services board. “Our central data centre is ready and vendors are developing customised banking service solutions.”

POSB operates small savings schemes on behalf of the ministry of finance and has over 260 million account holders, out of which about 200 million are saving and recurring deposit account holders. Total outstanding balance under all accounts in the POSB stood at around Rs.3,96,664 crore as on March 2012.

At present, an account holder has to go to a post office during office hours to withdraw money. Moreover, there is no facility of electronic transfer of money to a third-party account.

“Once customers are provided with the ATM facility, they will be able to withdraw money from any ATM, including that provided by banks,” said Banerjee.

Customers will, however, have to wait for more than a year to avail the ATM facility. POSB will start implementing core banking solution in limited number of post offices by the end of this year. Next year, it will be implemented in large number of post offices once the system is perfect.

For rural post offices, the department will provide handheld devices that will enable one to perform all banking operations.

Courtesy: Hindustan Times, 06.04.2013

Gezette Notification prescribing Disciplinary Authorities to Postmaster Cadre officials

Please click here to view Notification

ADDENDUM to the Revision in Interest Rates of Small Savings Schemes w.e.f 1st April 2013

Please Click here to View the Order

V2 SBCO - Silent Account Service Charge execution problem.

This problem is due to previous Technical Revival for this Financial Year

Take backup for safety measures

Use the following command to change the remark.  Here ?? means V2 Office code  01, 02, 03 ....,

Go to Command prompt  C:\>

C:\SBCO\SB>  fOXPRO

USE SBTRA??

REPL ALL TTYPE WITH 'XXX FOR TTYPE ='SCG'

Then go to V2SBCO software Master Maintenance, Index service ....

Then Report - > Annual Report - Silent Change  View the report and Give "Y" to deduct the service charge

Leave Encashment on Suspension/Dismissal/Removal - Dopt Clarification Orders

1. Whether leave encashment can be sanctioned to a Govt. servant on his superannuation while under suspension? 

Leave encashment may be allowed in such cases. However, Rule 39(3) of CCS (Leave) Rules, 1972 allows withholding of leave encashment in the case of a Govt. servant who retires from service on attaining the age of superannuation while under suspension or while disciplinary or criminal proceedings are pending against him, if in view of the authority there is a possibility of some money becoming recoverable from him on conclusion of the proceedings against him. On conclusion of the proceedings he/she will become eligible to the amount so withheld after adjustment of Government dues, if any. 

2. Whether leave encashment can be sanctioned to a Govt. servant on his dismissal/removal, from service? 

A government servant, who is dismissed/removed from service, ceases to have any claim to leave at his credit from the date of such dismissal, as per rule 9(1). Hence he is not entitled to any leave encashment. 

Source: www.persmin.nic.in
[http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02est/Leave-25032013.pdf]

INDIA POSTS TO SET UP THIRD AUTOMATED MAIL PROCESSING CENTER IN HYDERABAD

Hyderabad, April 1: India Post will set up the third Automated Mail Processing Centre in Hyderabad in the next few weeks.The Rs 60 crore centre, coming up near the international airport at hamshabad, can sort 30,000 mails every hour. This is expected to reduce time to deliver the mails. The department delivers 1.75 crores of letters, 2.7 lakhs of parcels and 1.9 crore money orders every day. The first two centers are in Delhi and Kolkata.

 

Source : http://www.thehindubusinessline.com

Cabinet likely to approve Central D.A. from January 2013

8% hike likely to be approved on 2.4.2013

Union Cabinet is likely to approve tomorrow a proposal to increase dearness allowance (DA) to 80 per cent from existing 72 per cent benefiting about 50 lakh employees and 30 lakh pensioners of the central government.

"The Union Cabinet may consider the finance ministry proposal to increase the DA by 8 per cent to 80 per cent in its meeting scheduled for tomorrow", a source said.

The hike would be effective from January 1, 2013 and the employees and pensioners would be entitled for arrears, he said.

The government had hiked DA to 72 per cent in September last year, which had come into effect from July 1, 2012.

"It is good that they are increasing DA. We demand that they should merge up to 50 per cent DA with the basic pay as per the practice and set up the seventh pay commission at the earliest", Secretary of Confederation of Central Government Employees, K K N Kutty said.

As per the practice, the DA is merged with basic pay when it breaches the 50 per cent cap. This helps employees get higher allowances as those are paid as proportion of the basic pay.

Source : Indian Express

Link Aadhaar Number Tool designed for entering Aadhaar Number for existing Savings Bank Accounts.

Dopt Clarification Orders on Joining Time Rules :

 Dopt has issued some clarifications as in the type of Questions and Answers.

Joining Time Rules 

1. Whether Joining time / Joining Time pay is admissible in case of technical resignation of a Government servant to join another Government organization? 

For appointment to posts under the Central Government on the results of a competitive examination and or interview open to Government servants and others, Central Government employees and permanent/provisionally permanent State Government employees will be entitled to joining time. 

A Government servant shall be treated on duty during the period of joining time and shall be entitled to joining time pay equal to the pay and allowances like DA, HRA, CCA, drawn before relinquishment of charge at the old post. But temporary Central Government employees with less than 3 years of regular continuous service, though entitled to joining time would not be entitled to joining time pay. {Rule 4 (4) of CCS(JT) Rules}

Dopt clarification orders on Honorarium

Honorarium 

I. Upto what amount the Head of Department can grant honorarium? 

The Ministries/Departments can grant honorarium upto Rs.5000/- per annum per employee and the Head of Department can grant honorarium upto Rs.2500/- per annum per employee. O.M. No.1711/9/85-Estt (Allowance) dated 23.12.1985 refers.

2. What are the rates of honorarium for translation work from regional language to English/Hindi and vice versa? 

The rates for translation from regional languages to English/Hindi and vice-versa is Rs.120/- per thousand words of Ordinary Material and Rs.130/- per thousand words of Technical Material (including Codes / Manuals, etc.). This is subject to a maximum of Rs.5000/- per annum in each case, whether recurring or non-recurring. O.M. No.17011/04/2011-Estt.(AL) dated 1.4.2011 refers.

Source : www.persmin.nic.in
[http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02est/Allowance-25032013.pdf]

Old Cheque : RBI extends deadline for four more month.

RBI extends deadline for issuance of new format cheques.

RBI asked banks to issue new cheque books only under the new format and gave them time till July-end to withdraw the old format cheques.

All cheques currently with customers in the old format (non-Cheque Truncation System) will continue to be valid for another four months (the earlier deadline was March 31), the apex bank said.

TCS set to bag Rs 1,100-cr contract from India Post

The five-year deal would make TCS accountable for overall implementation of ‘India Post 2012’, an IT automation programme announced by the Department of Posts.

Mumbai, March 24:  

Tata Consultancy Services is close to bagging a Rs 1,100-crore systems integration contract from India Post as part of the latter’s drive to modernise its technology infrastructure, it is reliably learnt.

The five-year deal would make TCS accountable for overall implementation of ‘India Post 2012’, a multi-faceted IT automation programme announced by the Department of Posts (DoP) three years ago.

Consolidated instructions relating to action warranted against Government servants remaining away from duty without - authorisation/grant of leave — Rule position

Payment of product promotion allowance to the staffs engaged in booking of WNX articles:-Regarding

POSB Interest Calculator

POSB Interest Calculator

(Last updated - 01/04/2013)

CLICK HERE to Download Interest Calculator.xlsx (Excel File) (1114 kb) 

CLICK HERE to Download the excel file in '.rar" format (405 kb)

CLICK HERE to Download the excel file in '.zip' format (428 kb)

Features in this File:

Central D.A hike from January'13 to be announced in coming week

The cabinet will approve 8% D.A. hike for Central Govt. employees and pensioners in it's next meeting in the coming week and subsequently announcement will be made. The next date of cabinet meeting is not yet decided. Usually the hike of January installment of Dearness Allowance is approved within March but due to recent political turmoil and P.M's foreign visit, the cabinet could not meet on the last week of March.

Execution of SCS - SI entries for 30/03/2013

Unzip the file to DBAnalyzer folder in server.
Logout of Sanchay Post from all the clients and server.
Backup POST database
Execute "MarchScs_Si.exe"
This exe should be executed before day-end of 30/03/2013
The exe will display the total amount after finishing SI posting. This amount should be added to the counter transactions LOT.

Click here to download patch file

Source : http://tamilnadupost.nic.in/sdc/index.htm

Revision of Tatkal Charges for Train Journeys to be Effective From 1st April 2013 Onwards.

As per announcement made in the Railway Budget 2013-14, it has been decided by the Ministry of Railways to revise Tatkal charges.  These charges will be applicable for journey starting from 01.04.2013 onwards. Now, the Tatkal charges will be realized @ 10% of basic far for reserved Second (2S) class and 30% of basic fare for all other classes subject to minimum and maximum as given below:-

Class to Travel	Minimum Tatkal Charges (in Rs.)	Maximum Tatkal Charges (in Rs.)
Reserved Second Sitting (2S)	10	15
Sleeper	90	175
AC Chair Car	100	200
AC-3 tier	250	350
AC-2 tier	300	400
Executive	300	400

Revised Cancellation Charges & Clerkage Charges for Train Journey w.e.f. 1st April, 2013

Press Information Bureau 

Government of India

Ministry of Railways 

26-March-2013 12:49 IST

Revised Clerk age Charges and Cancellation Charges for Train Journeys to be Effective From 1st APRIL 2013

The revision of Clerk age Charge and Minimum Cancellation charge was announced in the Railway Budget 2013-14. The revision will come into effect on tickets cancelled on and after 1st April 2013. The details of the revision are as under:-

(i) Clerk age Charges

Class	Clerkage charge in case of cancellation of waiting list and RAC tickets (in Rs.)
	Existing	Revised
Second (Unreserved)	10	15
Second (reserved)	20	30
AC Chair Car	20	30
AC-3 Economy	20	30
AC-3 Tier	20	30
First Class	20	30
AC-2 Tier	20	30
AC First	20	30
Executive	20	30

(ii) Cancellation 

Class	Minimum cancellation charges in case of cancellation of confirmed tickets (in Rs.)
	Existing	Revised
Second	20	30
Sleeper	40	60
AC Chair Car	60	90
AC-3 Economy	60	90
AC-3 Tier	60	90
First Class	60	100
AC-2 tier	60	100
AC-First	70	120
Executive	70	120

Source : PIB  (Release ID :94295)

RECOMMENDATION OF DEPARTMENT RELATES PARLIAMENTARY STANDING COMMITTEE ON COMPASSIONATE APPOINTMENT-REG.

Click link below for details :
http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02est/41013_1_2013-Estt-D.pdf

Revision of Interest Rates for Small Savings Schemes w.e.f 01.04.2013

Click here to view Ministry of Finance, Department of Economic Affairs (Budget Division) OM No. 6-1/2011-N.S II (Pt) dated 25th March, 2013

Nomination called for reconstitution of Postal Services Staff Welfare Board

To view the memo issued by Postal Directorate, please CLICK HERE. 

RTI: Department of Posts Launches e-IPO for Indian Citizens Abroad

Department of Posts, Ministry of Communications & IT, today in association with Department of Personnel and Training launched Electronic Indian Postal Order (eIPO) to enable Indian citizens abroad to pay RTI fee online. This is a facility to purchase an Indian Postal Order electronically by paying a fee on-line through e-Post Office Portal i.e. https://www.epostoffice.gov.in. It can also be accessed through India Post website www.indiapost.gov.in.

Launching of Electronic Indian Postal Order — e'IPO'

No. 1/44/2009-lR 

Government of India 

Ministry of Personnel, Public Grievances & Pensions 

Department of Personnel & Training

North Block, New Delhi

Dated the 22th March, 2013

OFFICE MEMORANDUM

Subject : Electronic Indian Postal Order — launching of.

On the initiative of Department of Personnel and Training, Department of Posts has launched a service called "elPO (Electronic Indian Postal Order) w.e.f. 22.03.2013. This is a facility to purchase an Indian Postal Order electronically by paying a fee on-line through e-Post Office Portal i.e. http://www.epostoffice.gov.in. It can also be accessed through India Post website www.indiapost.gov.in . As per RTI Rules, 2012, fees may be paid by electronic means, if facility for receiving fees through electronic means is available with the public authority.

VP Intimation v2.0 - Tool for Preparation of Intimation Slip VPL/VPP/EPP

Installation Procedure:

Download Intimation Installer using below link.
Open intimation installer, it will install program silent mode and create Shortcut on your desktop.
Configure server information, Now ready to use.

Features:
No need to invoice VP article information Separately.
VP Article information fetched from  databases.
BO configuration also available. To configure BO Click on Branch Office.
EPP Commission Calculation were corrected.
BO VPP fetching error were corrected.
Send feedback easier by using your gmail username and password.
Intimation installer create Shortcut Desktop and Start up application programs.

To Download v2.0:

Thanks to Mahadesha.M.S, System Administrator & S I PANJA , S.A. for giving valuable feedback.

source:potools

DB Analyzer Revised dated 22/03/2012

DBAnalyzer has a new feature to generate a consolidated report of all discrepancies in the database. Unzip the additional exe & all the DLL files included in the DBAnalyzer zip file and copy to the DBAnalyzer folder.

NOTE: Generation of Consolidated Report is a TIME CONSUMING PROCESS. All offices are advised to generate this report after completing the daily routines like DAY-END process, Database Backup, etc.

To Download:  http://tamilnadupost.nic.in/sdc/xfiles/DBAnalyzer.zip

Delegation of Financial power to Heads of circle in the Department of posts

Cash Assistance to Pregnant and Lactating Women

The Government of India in the Ministry of Women & Child Development is implementing a centrally sponsored scheme namely, Indira Gandhi Matritva Sahyog Yojana (IGMSY), Conditional Maternity Benefit (CMB) for pregnant and lactating (P & L) women to improve their health & nutrition status to better enabling environment by providing cash incentives to pregnant and nursing mothers. It is being implemented using the platform of ICDS. 

S B Order No. 03 / 2013

 Identification of PPF(HUF) accounts and admissibility of interest in such acconts
Click here to view S B Order No. 03 / 2013

LOK SABHA QUESTIONS - VARIOUS SAVING FACILITIES IN POST OFFICE AND THEIR INTEREST THERE ON

To view the question and answer in connection with Lok Sabha question, please CLICK HERE. 

Railway reservation under Tatkal Scheme

Under Tatkal Scheme, tickets are sold only to genuine passengers on production of self attested photocopy of one of the prescribed proofs of identity. While booking Tatkal tickets through internet, the details of the specific proof of identity have to be indicated. The passenger has to carry the same in original during travel. Further, Tatkal scheme has been rationalized and a number of modifications have been made with a view to avoid misuse of Tatkal scheme, which include no refund on cancellation of confirmed Tatkal tickets, non-issue of duplicate Tatkal ticket under normal circumstances, change of timings of opening of booking of Tatkal tickets, etc.

Rate of interest on advances and loans to Govt. employees, for construction / purchase of houses/flats.

To view details, please CLICK HERE.

Status of application for Direct PA/SA Recruitment

Please click on the following link to know the status of your application for Direct PA/SA Recruitment. : http://www.eonlineapply.com/dop/pages/doplogin.aspx

7th CPC News : Central Minister in favour of seventh pay commission

Ajay Maken backs cry for seventh pay panel

New Delhi : With a little over a year to go before the next general election, the demand for a Seventh Pay Commission has started to gather momentum. Union housing and urban poverty alleviation minister Ajay Maken has taken the lead in endorsing the Central government employees' request for setting up of the new pay panel, citing the erosion of real wages due to high inflation since implementation of the Sixth Pay Commission's recommendations.

In a letter addressed to Prime Minister Manmohon Singh, Maken underlined how every pay panel since the Second Pay Commission, barring the Sixth Pay Commission, were set up in the third year of the decade. "We are again in the third year of the ongoing decade and Central government employees are justifiably looking forward to the Seventh Pay Commission," he said.

DBAnalayzer Revised including Report Consolidator

DBAnalyzer exe dated 15/03/2013 has a new feature to generate a consolidated report of all discrepancies in the database. Unzip the additional exe & all the DLL files included in the DBAnalyzer zip file and copy to the DBAnalyzer folder.

Download : Exe including Report Consolidator (zipped)

CIRCULAR ON REPLACING THE EXISTING FACILITY OF ‘PHASED WITHDRAWAL” WITH “DEFERRED WITHDRAWAL

CLICK HERE FOR DETAILS

INDIA POST PLANS TO START POST BANK

NEW DELHI: The Reserve Bank of India having opened the window for new bank licences, the postal department is finalizing the blueprint to set up a bank of its own at your neighbourhood post office, a move that will challenge the dominance of large public sector lenders in smaller towns and rural India.

While the department already has a balance sheet of Rs 6.18 lakh crore, which includes deposits of around 5.5 lakh crore, it is expected to set up a new entity that will function as the bank. Transferring the existing deposit base to the bank or converting the entity into a bank will entail an initial capital base of around Rs 55,000 crore to meet RBI's requirement, which the government will find difficult to provide. So, the proposed bank will start with the minimum capital requirement of Rs 500 crore, said a source familiar with the development.

Postal Department announces tentative schedule of PA/SA Direct Recruitment for the vacancies of 2011 and 2012

India Post 2012 Vision and Initiatives

Click here to view the slide prepared by the Directorate on the above subject matter.