Tuesday, September 3, 2013





What  is  the  present  rate  of  interest  for  SB  Accounts 



Whether  any  nomination  facility  is  available  for   Savings  Bank  Account  in  Post  Office 

Yes   Nomination  facility  is  available  for  all  individual  accounts   except  in Minor  accounts 



Whether  a  minor  can  open  a  saving  account    

Yes,  If  he  is  of  10 years  of  age   he  can  open  account  other  wise  guaridan  can  open   for  him       


Whether   Introduction  is  compulsory  for    Open  SB  account  

Yes  ,  Introduction  of  the  depositor  is  compulsory  for  Individual  accounts   unless  the  depositor  is  known  to  the  post  office  


Whether  there  is  any Limit  for deposit  in   SB  account  

From  01.10.2011   onwards  ,  there  will  be  no  limit  for  retaining balance   in  single  as  well  as  Joint  accounts 

What  is  the  minimum  balance   of cheque  account for  SB  account 

500/-


What  is  the  minimum  amount  of  deposit  in  RD account 

Rs  10/-


Whether   a  RD  account   can  be  continued   after  maturity  period 

Yes  it  can   be  continued   for a  further  period  of  five  years  from  date  of  maturity 


Then  what  is  the  rate  of  interest  of  matured  for  post  maturity  period   in  RD  accounts 

The  depositor  shall  be  entitled  to  a  simple  interest  at  the  rate  applicable  time  to  time to  PO savings  account  from  the  date  of  maturity   till  the  date  of  payment 


Whether  there  is  any  Premature  closure  is  allowed  for   Recurring  Deposit (RD) 

Yes  ,  Premature  closure  is  permitted  on  completion  of  three  years  from  the  date  of  Opening 
What  is  the  present  rate  of  interest  rate of   1,2,3,5  year  Time  Deposit (TD)   accounts 
For   1  and  2  Year    8.20 %   per annum   For  3 year     8.30 %  Per  annum  and  5 year    8.40 %  per  annum 
Whether  any  limit  is  exists   for  open  TD  accounts   in  case  of  no  of  accounts

No  ,  Any  number  of   TD  accounts   can  be  opened  
Whether any  facility  for transfer  annual interest of  TD  accounts  to  my  Savings  account 
Yes    Annual  interest can  be  automatically  credited   to  Savings  account 
What  is  the  rate  of  interest  allowed   at the  time  of  Post  maturity  for  TD  accounts
Post  maturity  interest  shall  be  allowed  at  SB  rate 
What  are  the  conditions  for  premature  closure   for   TD  accounts 

Premature  closure  of  the  account  is  permitted  on  some  conditions
In  case  of  premature  closure  TD  accounts  of  1,2,3 and  5  Years   accounts  . if  deposit   is  withdrawn  after  six  months  , but  before  the  expiry  of  one  year    from  the date  of  deposit   , simple  interest  at  the  rate  applicable  from  time  to  time  to  PO  savings  account  shall  be  payable 
           In  case  of  premature  closure  on  or  after  01.12.2011 ,  if  the  deposit is  withdrawn  after   expiry of  one  year  from  the  date  of  deposit  ,  interest  on    such  deposit  shall  be  calculated  at  the rate  , which  shall  be  one  percent  less  than  rate  specified  for  a  period  of  deposit  of  1 year,  2  years  and  3  years 
What  is  the  maturity  period  of  Monthly  income  Scheme  (MIS) 

The  maturity  period  of  MIS  on  or  after   01.12.2011
What  is  the  minimum  and  maximum  amount  for  open a MIS  account

Minimum  amount  of  deposit  is  Rs  1500 and  in  multiples  of  Rs  1500/-  Maximum  amount  is  Rs  4.5  Lakhs in  the  case  of  Single  account and  9 lakhs  in  the  case  of  Joint  account 

What  is  rate of  interst   for  MIS  accounts

From  01/04/2013   the  rate  of  interest  for  MIS  accounts  is  8.4 %  per  annum 
What  is  the  rate of  bonus which  is  applicable  for  MIS  account ?

No  Bonus  will  be  paid  for  the  accounts  opened  from  13/02/2006  to  07/12/2007
      
 5 %  Bonus  is  payable  for  the accounts  opened  on  or  after  08.12.2007.

 There  shall  be  no  bonus  admissible on  maturity  in  the  accounts  opened  on  or  after  01.12.2011
Whether    premature  closure  is  allowed   for  MIS  ,  If  so   then  what  are  the  conditions   for that  

Yes,  If  the account  is  closed  before  three  years   an  amount  equal  to  two  percent  of  the  deposit  shall  be  deducted  and  If  the  account  is closed  after  three  years an  amount  equal  to  one  percent  on  the  deposit   amount  shall  be  deducted  .
What  is  the  period  for   Senior    Citizens savings  scheme 
Five  Years 
Who  can  open  SCSS  account  ?

Any  individual  who  has  attained     the  age  of  60 years  on  the  date  of  opening  or  who  has  attained  the  age  of  55 years or  more  but  less  than  60 years  and  who  has  retired  on  superannuation  or  otherwise  on  the  date  of  opening  of  an  account under  these  rules  subject  to the condition  that  the  account  is  opened  by  such  individual  within  one  month  of  the  date  of  receipt of  the  retirement  benefits  along  with  a  certificate  from  the  employer  indicating  the  fact of  retirement  on  superannuation  or otherwise   ,  retirement  benefit  and  period  of  such employment  with  the  employer  is  attached  with  the  supplication form

Whether  the  joint  account  is  permitted  in  the  case  SCSS  account  ,  If  so  what is the  condition 

Yes  ,Joint  account  is  opened  with the  spouse  only  and  not  with  any  other  person  ,
In  the  case  of  joint  account    the  age of  first applicant  ie  depositor  is  the  only  factor  to  decide  the  eligibility  and  there  is  no   age bar/limit  for  second  applicant 


What  is  the  present  interest  rate  of  SCSS  account 

9.2 %  per  annum 

Whether  the  Premature  closure  is  allowed   in  SCSS  account   

Yes,  It  is  allowed  after one  year  from  the  date  of opening  
 After  one  year   and  before  2  years   from  the  date  of opening   Deduct  1.5  %  from  Depost  amount  If  the  account  is  closed  after  two  years  Dedcut    1  %  from  the  deposit 

Monday, September 2, 2013

ARBITRATION AWARDS- GOVT PROPOSED TO MOVE RESOLUTIONS IN PARLIAMENT FOR REJECTION OF FIVE AWARDS.
COM. BASUDEV ACHARYA M.P. MOVES AMENDMENTS TO THE GOVERNMENT RESOLUTIONS TO REFER BACK TO GOVERNMENT FOR RECONSIDERATION OF THE PROPOSALS OF THE GOVERNMENT ON FOLLOWING AWARDS:
(1)     Revised HRA from 01.01.1996 to 31.07.1997
(2)     Revised Transport Allowance from 01.01.1996 to 31.07.1997
(3)     Upgraded pay scales to Senior Auditors /Senior Accounts         from 01.01.1986.
(4)     Revision of Night Duty Allowance.
(5)     Post of Computer in Registrar General’s Office
          =M. Krishnan, Secretary General

LOKSABHA ADJOURNED UPTO 2 P.M. TODAY (02.09.2013)

Pension Bill listed as item Number 2 . Perhaps the bill may be taken up today. Not sure. If intimation not received in time, the walkout and demonstration programme may be conducted ON THE NEXT DAY OF DAY ON WHICH THE BILL IS TAKEN UP FOR DISCUSSION IN PARLIAMENT as decided earlier by Confederation National Secretariat =M Krishnan S.G.

COM. R.N. PARASHAR REJOINED DUTY AT NFPE HEADQUARTERS Com. R.N. Parashar, Asst. Secretary General, NFPE, who was undergoing treatment after a major accident , has rejoined duty at NFPE Headquarters today 2nd September,2013 = M Krishnan, SG NFPE


Post Offices for Women


The objective for opening of all women post offices in the country is to lay focus on women’s empowerment and to achieve Departments objectives and mission to sustain its position as the largest postal network in the world. It is an effort to integrate gender equality and women’s empowerment for good governance by ensuring that women employees working at various levels in the Department have a real voice in the decision making of the Department as well as have a role in the management of post offices in the country. The all women post offices are the post office where all employees are women and they have been given the responsibility of managing the events of the post offices. This is done with a view to promote leadership and managerial qualities in women employees of the Department. These post offices are opened in major cities and at present 34 all women post offices are functioning in the country.These post offices are functioning within the postal network of the Department in the country and not a separate set up of post offices.

Besides this, from customers’ perspective, Post Offices offer products and services like small savings, postal life insurance and other mail related products which are used by the common man. All Women Post Office offers a secured environment to our woman customers from all strata of society to transact postal business with a level of comfort and familiarity with women employees of the Department.

This information was given by Dr. Smt. Killi Kruparani, Minister of State for Communications and Information Technology in a written reply to a question in the Rajya Sabha today.
 
Source : PIB
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LIMITED DEPARTMENTAL COMPETITIVE EXAMINATION FOR PROMOTION TO THE CADRE OF IP 2012 HELD ON 13TH AND 14TH OCTOBER, 2012- DECLARATIONOF RECASTING/REVISED RESULT THEREOF (Click the link below for details)

The Policies that failed {Editorial Postal Crusader September, 2013}


                In the year 1991 when the New Economic Policy or the Neo-liberal Economic Policy was adopted by the then Narasimha Rao Government at the Centre with much fanfare, it was repeatedly declared that it is a panacea for all the crisis faced by the Indian economy and shall ensure rapid growth of Gross Domestic Product (GDP).  After 22 years, it is the very same neo-liberal policies which is leading the country to an economic disaster.  The then Finance Minister Sri. Manmohan Singh had brush aside the criticism and opposition of left parties and trade unions and they became a target of concentrated attack by the supporters of the neo-liberal policies.  Inspite of stiff resistance from all trade unions the Government went ahead with the rigourous implementation of the anti-people, anti-labour policies of Liberalisation, Privatisation and Globalisation  (LPG).
                While the UPA Government desperately wooed foreign capital and handed out concessions to big business and corporates, the plight of the people has been worsening because of the economic slowdown, falling industrial production and high inflation.  The rupee has steadily depreciated in value, with the exchange rate of the rupee to the dollar breaching the Rs.68 mark last week.  The current account deficit (the gap between exports and imports and other remittances) has reached an unsustainable level, there is rising external debt with the bourgeoning short-term debt, posing immediate problem.  This financial crisis is accompanied by high inflation.  The fact that the creation of two India’s of the rich and the poor, with the gap between them widening alarmingly, is a reality that stares us every moment.
                The first UPA Government was not allowed to implement the reforms in the financial sector, pension sector and retail sector etc. by the left parties who supported the Government.  It prevented the passing of PFRDA Bill by threatening to withdraw support to the Government.  The second UPA Government without the left support, started rigourous implementation of the reforms in all sectors.  All barriers for the inflow of foreign capital to the country was removed and the cap of Foreign Direct investment (FDI) in banking, insurance, pension, retail, defence, telecom etc. are either enhanced or removed.  Large scale disinvestment of public sector has become the order of the day.  Deregulation of petrol pricing has resulted in everincreasing prices of petrol and diesel fuelling inflation which resulted in the increased burden of price rise for the people.  Onions,vegetables and all other necessities of life are becoming out of reach of the people.  The other outcome of the economic slowdown is the loss of jobs in the industrial and services sectors and rising unemployment.
                The UPA Government is seeking to overcome this crisis by attracting more foreign capital and giving more concessions to the multinational companies (MNCs) and Indian big business.  The growing dependence on foreign capital flows and FDI has worsened the situation further and the entire exercise has proved futile.  The bulk of the capital flows out of the country is from equity, debt markets and Foreign Institutional Investments (FIIs), which the Government cannot control.  The neo-liberal policies of the Manmohan Singh Government and the boosting of the economy through Foreign Capital inflows have now come to roost. 
                During the last three years at least, the tax concessions provided to the corporartes and the rich amount to, according to budget papers, to over five lakhs crores every year.  Despite such “incentives”, the overall growth of the industrial production was minus 1.6 per cent in May 2013.  If, instead, these legitimate taxes were collected and used for public investments to build over much needed infrastructure, this would have generated large-scale employment.  This, inturn, would increase the purchasing power of the people and vastly enlarge domestic demand.  This would lay the basis for a turn around in manufacturing and industrial production and put the economy on a more sustainable and relatively pro-people growth tragectory. 
                What the country needs is an alternative pro-people policies.  Such an alternative can be brought about through the intensification of popular struggle of the people and working class in the coming months.

RISK ALLOWANCE TO CENTRAL GOVERNMENT EMPLOYEES - CLARIFICATION REG.(Click the link below for details)

CONFEDERATION CIRCULAR


Circular No. 3/2013                                                                                                  Dated – 29.08.2013

To

All CHQ office Bearers, Confederation
All General Secretaries C-O-Cs
All General Secretaries/Secretary Generals of affiliated Unions

Dear Comrade,

1.    Agenda of the next National Council JCM has been finalized on 27.08.2013 in consultation with DOP&T. Twelve demands raised by the Confederation in the Charter of demands are included (including the GDS employees demand). The letter given by Com. Umraomal Purohit, Secretary, Staff Side, JCM National Council and twelve demands included in the agenda are enclosed herewith. (Annexure I & II) Next meeting of the National Council JCM is expected by the end of October 2013/early November 2013.

2.    The controversial PFRDA bill is listed as an agenda items of the current Parliament session. National Secretariat of the Confederation has given a call for two-hours walk out and protest demonstrations when the bill is taken up for discussion in Parliament or on the next day if information is received late.

3.      GET READY FOR INDEFINITE STRIKE, MAKE THE STRIKE BALLOT A GRAND SUCCESS
As already mentioned in the previous circular the following campaign programmes shall be implemented in all states demanding realisation of the 15 Point Charter.
          (a)   Mass Relay Dharna at all important places and State/District Head Quarters from 2nd to 7th September 2013.
          (b)   Holding of state conventions of C-O-Cs and Central Working Commitees/Central Executive Committees of all               affiliated Unions/Associations/Federations.
          (c)    Strike ballot from 25th to 27th September 2013.

A copy of the appeal for strike ballot and model ballot is enclosed herewith (Annexure III & IV). It may be translated into local languages. Each official should be given an appeal well in advance so that they can take an independent decision before the polling dates. 15 Point Charter may be permitted in the appeal.

On the polling day (25th, 26th & 27th September 2013) ballot boxes should be placed at the premises of offices or at a centralized place (polling booths) as per convenience. Employees may be allowed to vote freely and frankly by ticking “Yes” or “No” in the ballot. It will be a secret ballot. After ticking “Yes” or “No”, the ballot may be put in the ballot box. After polling is over leaders shall count the ballot.
The ballots in favour of indefinite strike (Yes) and against indefinite strike (No) may be counted separately and total figure arrived at may be communicated by the respective C-O-Cs or organizations as the case may be, to the Confederation Head quarters by e-mail or SMS.

Before the poling date intensive campaign should be conducted by all C-O-Cs and affiliates at all places and each and every employee may be contacted and requested to cast his/her vote.

4.      All India Trade Union Education Camp:
The Trade Union Education Camp will be held at Mumbai on 15th & 16th November 2013. The number of delegates to be participated from each C-O-C and affiliated Unions / Associations / Federations will be intimated before September 1st Week. The camp is being hosted by C-O-C Mumbai. Delegate fee is Rs. 600/- per head. NFPE, ITEF, Audit & Accounts Associations and Atomic Energy delegates shall be arranged accommodation by their respective Federations.

5.      All India Women’s Convention
The All India Women’s Convention of the Confederation will be held at New Delhi on 25th & 26th November 2013. Lady Delegates from all C-O-Cs and affiliated Unions/Associations/Federations should participate in the Convention. Number of women delegates to be participated from each C-O-C and affiliated Unions/Associations/Federations will be intimated by first week of September 2013. The Convention is being hosted by C-O-C Delhi. Delegate fee is Rs. 600/- per head.

6.      Formation of C-O-Cs at State and District level
As we are heading towards an indefinite strike, we have to gear up our organsiational machinery at all levels. Wherever state level C-O-Cs are defunct or ineffective it should be revived immediately. Where ever District Committee is not formed the major affiliates should take immediate action for preparing their rank and file for the indefinite strike. Circulars, bulletins, posters, boards, banners etc. may be issued and circulated widely among the employees. Don’t wait for the last Minute, Be prepared well in advance.

       Fraternally yours,
       (M. Krishnan)
      Secretary General





PFRDA BILL LIKELY TO BE TAKEN UP IN PARLIAMENT ON 2nd SEPTEMBER 2013. ORGANISE TWO HOUR WALK OUT AND NATIONWIDE PROTEST DEMONSTRATIONS


It is reported that PFRDA Bill will be take up in Parliament for discussion and adoption on 2nd September. Confederation National Secretariat once again calls upon all Central Government Employees to organize 2 hour walkout and nationwide protest demonstration on the day if bill is taken up or on the next day if information received late.
(M. Krishnan)
Secretary General
NATIONAL FEDERATION OF POSTAL EMPLOYEES
1st Floor, North Avenue Post Office Building, New Delhi - 110001
Dated - 29.08.2013
Dear Comrades,
NFPE WESTERN ZONE STUDY CAMP
The western Zone Study Camp of NFPE conducted on 25th & 26th August 2013 at Pushkar (Rajasthan) was a great success. About 220 delegates from Himachal Pradesh, Haryana, Punjab, Delhi, Rajasthan and Jammu & Kashmir attended the camp. Some delegates from Gujarat also attended. (Detailed report placed in the website).
NORTHERN ZONE STUDY CAMP
Northern Zone Study Camp will be conducted at Ghaziabad (Uttar Pradesh) on 21st & 22nd September 2013. Delegates from Uttar Pradesh & Uttarakhand will attend the camp (For detailed circular see website).
NFPE FEDERAL SECRETARIAT DECISIONS
Federal Secretariat of NFPE met at Pushkar (Rajasthan) on 26.08.2013. The Secretariat took the following important decisions.
(i)  Confederation Campaign programmes:  - The Federal secretariat decided that NFPE should play a leading role in implementing the campaign programmes of Confederation. Relay Mass Dharna (September 2nd to 7th), state and District level convention and the strike ballot (September 25, 26, 27) should be made a grand success.
(ii)  Federal Secretariat decided to organise the strike ballot in a most effective manner.  Intensive campaign should be undertaken at Branch/Divisional/Circle level. The model appeal and ballot is enclosed with the confederation circular. All employees including GDS may be contacted and requested to participate in the strike ballot (Full details available in the Confederation circular)
(iii) Confederation All India Trade Union Education Camp  Mumbai 2013 November 15th &16th
The following number of delegates should be participated from each affiliated unions. P3 – 30, P4 – 25,    R3 – 10, R4 – 10, Postal Accounts – 5, Admn Union – 5, SBCO – 3, AIPEU-GDS(NFPE) - 5, Casual Labour – 2, Total – 95.
(iv)  Confederation All India Women’s Convention: 2013 November 25, 26 – New Delhi
The following number of delegates will be participated in the Women’s Convention P3 – 25, P4 – 10, R3-10, R4-5, Postal Accounts – 5, Admn – 2 SBCO – 2, AIPEU-GDS (NFPE) – 5, Casual Labour – 1, Total – 65.
Diamond Jubillee celebrations of NFPE & 109th year of Postal Trade Union movement
As decided in the Hyderabad Federal Council, the Federal Secretariat decided to commence the celebrations of the Diamond Jubilee of NFPE and 109th year of the Postal Trade Union movement on 24th November 2013. The one year long celebrations shall end on 24th November 2014. On 24th November 2013, the inaugural ceremony of the celebrations will be held at New Delhi. Further details will be decided later.
AIPEU-GDS (NFPE) Parliament march on 11th December 2013
AIPEU-GDS (NFPE) has decided to conduct a massive Parliament March on 11th December 2013. All affiliated Unions of NFPE are requested to extend full support and participation to make the GDS Parliament March a grand success.
The AIC and CWCs of the following unions will be held on the dates and places noted against each
(a)   AIC of R4 Union – 2013 8th, 9th and 10th November at Pune (Maharashtra)
(b)   CWC of AIPAEA – 2013 October 28, 29, 30 at Lucknow (Uttar Pradesh)
(c)    CWC of Admn Union on 2013 September 23 and 24 at Ranchi (Jharkhand)
(d)   CWC of P3 Union will be held at Guwahati (Assam) on 2013 December 14 and 15
(e)   AIC of P4 Union – AIC of P4 Union will be held at Cuttuck (Orissa) on 2013 December 29th, 30th & 31st.
(f)     CWC of AIPEU-GDS (NFPE) will be held at Kolkata (West Bengal) on 26th October 2013.
(g)   CWC of R3 Union will be held at Puri (Orissa) on 8th & 9th December 2013.
ALL INDIA CAMPAIGN JATHA
The Federal Secretariat has decided to explore the possibility of organizing five or Six All India Vehicle Campagin Jathas of NFPE from different part of the country, each Jatha covering 3 or 4 states, before 2014 January. All Circle Secretaries/Divisional Secretaries are requested to intimate their opinion about organizing All India Jathas against the policies of the Government of India.  Each Jatha is to be given grand reception at all important cities. Final decision will be taken by the next Federal Secretariat after reviewing the feedback received from Circles/Divisions.
Fraternally yours,

(M. Krishnan)
Secretary General

NFPE WESTERN ZONE STUDY CAMP 2013 AUGUST 25, 26 - PUSHKAR (RAJASTHAN)


Western Zone Study Camp of NFPE was successfully held at Pushkar (Rajasthan) on 25th and 26th August 2013. About 220 delegates from Himachal Pradesh, Delhi, Haryana, Punjab, Rajasthan, Gujarat, Jammu & Kashmir attended the camp. The National Flag was hoisted by Com. M. Krishnan, Secretary General, NFPE and NFPE flag was hoisted by Com. Ishwar Singh Dabas, Deputy Secretary General, NFPE & General Secretary, P4 (CHQ). The camp was inaugurated by Dr. K. Hemalatha, General Secretary of All India working Women’s coordination committee by taking class on “National Situation and Role of working class”. Com. Giriraj Singh, President, NFPE presided, Com. M. Krishnan, Secretary General, NFPE and Com. K. V. Sridharan Ex-General Secretary, P3 & Leader JCM (DC) took classes on the subject “Lessons of the past and Task ahead of the Postal Trade Union movement” and “Service Rules & the role of Unionists” respectively.
A seminar on “Future of India Post” was organized in which Shri. O. S. Virwal, Chief Postmaster General, Rajasthan Circle was the Chief Guest. Other senior officers also accompanied Chief Postmaster General.
Com. I. S. Dabas, General Secretary, P4 , Com. P. Suresh, General Secretary, R4, Com. P. Panduranga Rao, General Secretary, AIPEU-GDS (NFPE), Com. Balwinder Singh, Financial Secretary, P3, Com. N. Subramanian, Deputy General Secretary, P3 Com. Raj Kumar, Financial Secretary, NFPE, Com. K. K. Sharma, Vice President, NFPE, Com. S. B. Yadav, Vice President, AIPAEA, Com. K. P. Singh, R3, Rajeev, SBCOEA, addressed the delegates.
The camp ended at 5 PM. The Reception Committee headed by Com. H. P. Diwakar, Circle Secretary, P3 has made excellent arrangement for food, accommodation, meeting hall, transport and other facilities for delegates. NFPE congratulates the Reception Committee and express thanks to them.
(M. Krishnan)
Secretary General
NFPE

POST BANK OF INDIA SANS POSTAL EMPLOYEES


It seems that the Post Bank of India (PBI) may become a reality in the near future. For the last more than fifteen years we have been told about the Post Bank and even the Parliamentary standing committee on Communications & IT has repeatedly demanded the Government for commencing Post bank. Several attempts have been made, but the Finance Ministry always took a negative stand, for one reason or the other. Majority of the bank managements including nationalized banks have been opposing the entry of the Postal department into commercial banking. The reason is obvious. They foresee a potential threat to their existence once Post Bank enters into their field and during the course of time the Post Bank may become one of the biggest Bank.
Post Bank of India will be an independent entity, separate from the current operations of small savings schemes being carried out by the Department of Posts on behalf of Ministry of Finance. Department has accordingly submitted an application to the Reserve Bank of India (RBI) on 28.06.2013 seeking banking license subject to necessary cabinet approval. RBI has said that new banks will have to set up at least three branches in villages with a population of less than 10000, for each branch they establish in other areas. Although Post Bank does not intend to open a bank in every Post office, the plan is to meet the financial inclusion goal through these Post offices. India Post had 1,54,822 Post offices across the country as on 31.03.2013, the largest for any department in the world, and close to 90% of them – 1,39,086 – are in rural India. This is more than four times the number of rural branches run by India’s Banks put together. According to plan prepared by Ernst & Young, India Post will become Post Bank of India’s banking correspondent. PBI will use Post office infrastructure but very frugally. Carefully done PBI can be a game – changer in rural areas.
India post is among 26 applicants that sought banking licenses from RBI. India Post has to develop the standards to meet RBI guidelines. In its guidelines for new banking licenses announced on 22nd February 2013, RBI required applicants to prove their eligibility on several fronts – from promoter holding to past experience to business plans. The minimum capital required by the applicants for license is Rs. 500 crores and foreign share holding in the new banks is capped at 49% for the first five years. The new banks have to be set up under a non-operative Financial Holding company (NOFHC). They also have to maintain minimum capital adequacy ratio – the ratio of risk weighed assets, a measure of financial strength of the bank – of 19 % for the first three years. New banks also need to list their shares within three years of starting operations.
The main argument put forward by those opposing the Post Bank is that Postal department has no experience when it comes to giving credit (loans). Department has only been taking deposits till now. Sanctioning and disbursing of credit needs an entirely different aptitude. India Post has no specialized experience in the business. It is reported that unlike many believe, the Post Bank of India will be a completely new entity with no legacies of a government department and very little to do with its parent department, except using some of its network. It will have an independent Board. Separate recruitment has been planned to have specialised banking staff. Of course, the Post Bank will be a subsidiary organisation of India Post, which need to be registered as a public sector Bank and Government equity in this new entity could be diluted. Whatever reforms and regulations Government implements in Nationalised Banking sector will be fully applicable to Post Bank of India also.
There are many talented and qualified Postal employees who want to switch over to the Post bank and to work as employees under the Post Bank. The reports that separate recruitment will be made for the Post Bank has cast shadow upon their hope to work in the Post Bank. NFPE demands that the existing Postal employees who want to switch over to the Post Bank shall be given chance to exercise option and if need be a trade test to assess their capability can also be conducted before selection. Selected officials can be imparted with intensive training in commercial banking business. In any case 100% open market direct recruitment is an injustice to those talented Postal employees who may not be able to apply for open recruitment due to age factor etc. we urge upon the Postal Board and Finance Ministry to give due consideration to this aspect, before the new Bank is rolled out.

Promotion and postings of Senior Administrative Grade (SAG) Officers of Indian Postal Service, Group 'A' to Higher Administrative Grade (HAG) of the service and transfers/ postings of regular HAG Officers of Indian Postal Service, Group 'A'(Click link below for details)

Transfers and posting of Sr. Managers and Managers of Mail Motor Service (MMS), Group 'A' of Department of Posts (Click the link below for details)

CONFEDERATION DEMANDS INCLUDED IN THE AGENDA OF THE JCM NATIONAL COUNCIL


Agenda for next meeting of the JCM National Council has been finalized on 27.08.2013 in consultation with DOP&T Twelve demands raised by Confederation in the charter of demands are included. (including GDS employees demand) Next meeting of National Council JCM is expected by the end of October 2013.
The letter give by Com. Umraomal Purohit, Secretary, JCM (NC) and the 12 demands included in the agenda are given below:
M. Krishnan
Secretary General

Confederation



ALL THE PENSIONERS ASSOCIATIONS UNDER PRESENT SCOVA. 23rd MEETING OF THE STANDING COMMITTEE OF VOLUNTARY AGENCIES (SCOVA) TO BE HELD ON 20th SEPTEMBER, 2013 IN NEW DELHI.(Click the link below for details)

NOMINATION OF NODAL OFFICER FOR RTI FOR THE DEPARTMENT OF POSTS (Click link below for details)


According to official source, dearness allowance hike will be 10 percent and would be effective from July 1, this year.

The sources further said the exact amount of dearness allowance, as a proportion of basic pay, works out to over 90 percent after factoring in the revised all IndiaConsumer Price Index for Industrial Workers (CPI-IW) for June.

According to revised data released on August 30, retail inflation for factory workers for June stood at 11.63 percent, higher than provisional estimate of 11.06 percent for the month released on July 31.

Sources said that since the revised estimate for the month of June is available, the Finance Ministry would soon prepare a proposal for the purpose for seeking Union Cabinet nod.

They further said the proposal will be moved this month. There would be a double digit hike in DA after about three years. It was last in September, 2010, that the government had announced a hike of 10 percent to be given with effect from July 1, 2010.


DA was hiked to 80 percent from 72 percent in April, 2013, effective from January 1, this year. As per the practice, the government uses CPI-IW data for past 12 month or a year to arrive at a number for the purpose of any DA hike. Thus, the retail inflation for industrial workers between July, 2012 to June, 2013 will be used to take a final decision