About banking liscence to India post

MANY NEWS ARE COMING ABOUT PAYMENT BANK LICENSE TO DOP, SO WE MUST KNOW WHAT WILL HAPPEN WHEN DOP WILL GET IT .HERE IS THIS INFO

       The Payments Bank will be set up as a differentiated bank and shall confine its activities to further the objectives for which it is set up. Therefore, the Payments Bank would be permitted to undertake only certain restricted activities permitted to banks under the Banking Regulation Act, 1949, as given below:

      Acceptance of demand deposits, i.e., current deposits, and savings bank deposits. The eligible deposits mobilised by the Payments Bank would be covered under the deposit insurance scheme of the Deposit Insurance and Credit Guarantee Corporation of India (DICGC). Given that their primary role is to provide payments and remittance services and demand deposit products to small businesses and low-income households, Payments Banks will initially be restricted to holding a maximum balance of Rs. 100,000 per customer. After the performance of the Payments Bank is gauged by the RBI, the maximum balance can be raised. If the transactions in the accounts conform to the “small accounts”1 transactions, simplified KYC/AML/CFT norms will be applicable to such accounts as defined under the Rules framed under the Prevention of Money-laundering Act, 2002.

Payments and remittance services through various channels including branches, BCs and mobile banking. The payments / remittance services would include acceptance of funds at one end through various channels including branches and BCs and payments of cash at the other end, through branches, BCs, and Automated Teller Machines (ATMs). Cash-out can also be permitted at Point-of-Sale terminal locations as per extant instructions issued under the PSS Act. In the case of walk-in customers, the bank should follow the extant KYC guidelines issued by the RBI.

Issuance of PPIs as per instructions issued from time to time under the PSS Act.

Internet banking - The RBI is also open to applicants transacting primarily using the Internet. The Payments Bank is expected to leverage technology to offer low cost banking solutions. Such a bank should ensure that it has all enabling systems in place including business partners, third party service providers and risk managements systems and controls to enable offering transactional services on the internet. While offering such services, the Payments Bank will be required to comply with RBI instructions on information security, electronic banking, technology risk management and cyber frauds.

Functioning as Business Correspondent (BC) of other banks – A Payments Bank may choose to become a BC of another bank for credit and other services which it cannot offer.

The Payments Bank cannot set up subsidiaries to undertake non-banking financial services activities. The other financial and non-financial services activities of the promoters, if any, should be kept distinctly ring-fenced and not comingled with the banking and financial services business of the Payments Bank.

The Payments Bank will be required to use the word “Payments” in its name in order to differentiate it from other banks.

DEPLOYMENT OF FUNDS

The Payments Bank cannot undertake lending activities. Apart from amounts maintained as Cash Reserve Ratio (CRR) with RBI, minimum cash in hand and balances with a scheduled commercial bank/RBI required for operational activities and liquidity management, it will be required to invest all its monies in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR). The Payments Bank will participate in the payment and settlement system and will have access to the inter-bank uncollateralised call money market and the collateralised CBLO market for purposes of temporary liquidity management.

CAPITAL REQUIREMENT

Since the Payments Bank will not be allowed to assume any credit risk, and if its investments are held to maturity, such investments need not be marked to market and there may not be any need for capital for market risk. However, the Payments Bank will be exposed to operational risk. The Payments Bank will also be required to invest heavily in technological infrastructure for its operations. The capital will be utilised for creation of such fixed assets. Therefore, the minimum paid up voting equity capital of the Payments Bank shall be Rs. 100 crore. Any additional voting equity capital to be brought in will depend on the business plan of the promoters. Further, the Payments Bank should have a net worth of Rs 100 crore at all times. The Payments Bank shall be required to maintain a minimum capital adequacy ratio of 15 per cent of its risk weighted assets (RWA) on a continuous basis, subject to any higher percentage as may be prescribed by RBI from time to time. However, as Payments Banks are not expected to deal with sophisticated products, the capital adequacy ratio will be computed under simplified Basel I standards.

As the Payments Bank will have almost zero or negligible risk weighted assets, its compliance with a minimum capital adequacy ratio of 15 per cent would not reflect the true risk. Therefore, as a backstop measure, the Payments Bank should have a leverage ratio of not less than 5 per cent, i.e., its outside liabilities should not exceed 20 times its net-worth / paid-up capital and reserves.

PROMOTER’S CONTRIBUTION

The promoter’s minimum initial contribution to the paid up voting equity capital of Payments Bank shall be at least 40 per cent which shall be locked in for a period of five years from the date of commencement of business of the bank. Shareholding by promoters in the bank in excess of 40 per cent shall be brought down to 40 per cent within three years from the date of commencement of business of the bank. Further, the promoter’s stake should be brought down to 30 per cent of the paid-up voting equity capital of the bank within a period of 10 years, and to 26 per cent within 12 years from the date of commencement of business of the bank. Proposals having diversified shareholding and a time frame for listing will be preferred.

FOREIGN SHAREHOLDING

The foreign shareholding in the bank would be as per the extant FDI policy.

Voting Rights And Transfer/Acquisition Of Shares

As per Section 12 (2) of the Banking Regulation Act, 1949, the voting rights in private sector banks are capped at 10 per cent, which can be raised to 26 per cent in a phased manner by the RBI. Further, as per Section 12B of the Act ibid, any acquisition of 5 per cent or more of voting equity shares in a private sector bank will require prior approval of RBI. This will also apply to the Payments Banks.

PRUDENTIAL NORMS

As the Payments Bank will not have loans and advances in its portfolio, it will not be exposed to credit risk and, the prudential norms and regulations of RBI as applicable to loans and advances, will therefore, not apply to it. However, the Payments Bank will be exposed to operational risk and should establish a robust operational risk management system. Further, it may face liquidity risk, and therefore is required to follow RBI’s guidelines on liquidity risk management, to the extent applicable.

BUSINESS PLAN

The applicants for Payments Bank licences will be required to furnish their business plans and project reports with their applications. The business plan will have to address how the bank proposes to achieve the objectives of setting up of Payments Banks. The business plan submitted by the applicant should be realistic and viable. Preference will be given to those applicants who propose to set up Payments Banks with access points primarily in the under-banked States / districts in the North-East, East and Central regions of the country. However, to be effective, the Payments Bank should ensure widespread network of access points particularly to remote areas, either through their own branch network or BCs or through networks provided by others. The bank is expected to adapt technological solutions to lower costs and extend its network. In case of deviation from the stated business plan after issue of licence, RBI may consider restricting the bank’s expansion, effecting change in management and imposing other penal measures as may be necessary.

CORPORATE GOVERNANCE

The Board of the Payments Bank should have a majority of independent Directors.

The bank should comply with the corporate governance guidelines including ‘fit and proper’ criteria for Directors as issued by RBI from time to time.

SOURCE :RBI
https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=2857

Thanks to Ashutosh Kumar Kausha

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Quote of the Day July 2

Expected DA hike from July 2015 is 6%

Expected DA hike from July 2015 is 6%

As already calculated in March, 2015 & April 2015 Expected DA/DR will be 119% with effect from July, 2015, it is now confirmed with 2 points increase in May, 2015 CPI-IW. As per press release issued on today by Labour Bureau the All India Consumer Price Index for Industrial Worker for the month May, 2015 increased by 2 points and pegged at 256. The 6% increase in future DA/DR from July, 2015 i.e. DA/DR will be 119% from July, 2015 is more confirm with this increase.

A 6 points increase in June, 2015 CPI-IW Index is needed to increase the above said calculation in expected DA/DR to 120% and the other side a 8 point decline in June, 2015 CPI-IW Index is needed to decrease the expected DA/DR to 118%. The 6 points increase and 8 point decrease is future CPI-IW index is not near to possibility.

Therefore, Dearness Allowance for Central Government Staff and Dearness Relief for Pensioners with effect from July, 2015 is likely to increase 6% and to be 119% the present DA/DR is 113%.

Source : sapost.blogspot.in

About Bank Licence TO Post Bank Of India

About Bank Licence TO Post Bank Of India

MANY NEWS ARE COMING ABOUT PAYMENT BANK LICENSE TO DOP, SO WE MUST KNOW WHAT WILL HAPPEN WHEN DOP WILL GET IT .HERE IS THIS INFO

       The Payments Bank will be set up as a differentiated bank and shall confine its activities to further the objectives for which it is set up. Therefore, the Payments Bank would be permitted to undertake only certain restricted activities permitted to banks under the Banking Regulation Act, 1949, as given below:

      Acceptance of demand deposits, i.e., current deposits, and savings bank deposits. The eligible deposits mobilised by the Payments Bank would be covered under the deposit insurance scheme of the Deposit Insurance and Credit Guarantee Corporation of India (DICGC). Given that their primary role is to provide payments and remittance services and demand deposit products to small businesses and low-income households, Payments Banks will initially be restricted to holding a maximum balance of Rs. 100,000 per customer. After the performance of the Payments Bank is gauged by the RBI, the maximum balance can be raised. If the transactions in the accounts conform to the “small accounts”1 transactions, simplified KYC/AML/CFT norms will be applicable to such accounts as defined under the Rules framed under the Prevention of Money-laundering Act, 2002.

Payments and remittance services through various channels including branches, BCs and mobile banking. The payments / remittance services would include acceptance of funds at one end through various channels including branches and BCs and payments of cash at the other end, through branches, BCs, and Automated Teller Machines (ATMs). Cash-out can also be permitted at Point-of-Sale terminal locations as per extant instructions issued under the PSS Act. In the case of walk-in customers, the bank should follow the extant KYC guidelines issued by the RBI.

Issuance of PPIs as per instructions issued from time to time under the PSS Act.

Internet banking - The RBI is also open to applicants transacting primarily using the Internet. The Payments Bank is expected to leverage technology to offer low cost banking solutions. Such a bank should ensure that it has all enabling systems in place including business partners, third party service providers and risk managements systems and controls to enable offering transactional services on the internet. While offering such services, the Payments Bank will be required to comply with RBI instructions on information security, electronic banking, technology risk management and cyber frauds.

Functioning as Business Correspondent (BC) of other banks – A Payments Bank may choose to become a BC of another bank for credit and other services which it cannot offer.

The Payments Bank cannot set up subsidiaries to undertake non-banking financial services activities. The other financial and non-financial services activities of the promoters, if any, should be kept distinctly ring-fenced and not comingled with the banking and financial services business of the Payments Bank.

The Payments Bank will be required to use the word “Payments” in its name in order to differentiate it from other banks.

DEPLOYMENT OF FUNDS

The Payments Bank cannot undertake lending activities. Apart from amounts maintained as Cash Reserve Ratio (CRR) with RBI, minimum cash in hand and balances with a scheduled commercial bank/RBI required for operational activities and liquidity management, it will be required to invest all its monies in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR). The Payments Bank will participate in the payment and settlement system and will have access to the inter-bank uncollateralised call money market and the collateralised CBLO market for purposes of temporary liquidity management.

CAPITAL REQUIREMENT

Since the Payments Bank will not be allowed to assume any credit risk, and if its investments are held to maturity, such investments need not be marked to market and there may not be any need for capital for market risk. However, the Payments Bank will be exposed to operational risk. The Payments Bank will also be required to invest heavily in technological infrastructure for its operations. The capital will be utilised for creation of such fixed assets. Therefore, the minimum paid up voting equity capital of the Payments Bank shall be Rs. 100 crore. Any additional voting equity capital to be brought in will depend on the business plan of the promoters. Further, the Payments Bank should have a net worth of Rs 100 crore at all times. The Payments Bank shall be required to maintain a minimum capital adequacy ratio of 15 per cent of its risk weighted assets (RWA) on a continuous basis, subject to any higher percentage as may be prescribed by RBI from time to time. However, as Payments Banks are not expected to deal with sophisticated products, the capital adequacy ratio will be computed under simplified Basel I standards.

As the Payments Bank will have almost zero or negligible risk weighted assets, its compliance with a minimum capital adequacy ratio of 15 per cent would not reflect the true risk. Therefore, as a backstop measure, the Payments Bank should have a leverage ratio of not less than 5 per cent, i.e., its outside liabilities should not exceed 20 times its net-worth / paid-up capital and reserves.

PROMOTER’S CONTRIBUTION

The promoter’s minimum initial contribution to the paid up voting equity capital of Payments Bank shall be at least 40 per cent which shall be locked in for a period of five years from the date of commencement of business of the bank. Shareholding by promoters in the bank in excess of 40 per cent shall be brought down to 40 per cent within three years from the date of commencement of business of the bank. Further, the promoter’s stake should be brought down to 30 per cent of the paid-up voting equity capital of the bank within a period of 10 years, and to 26 per cent within 12 years from the date of commencement of business of the bank. Proposals having diversified shareholding and a time frame for listing will be preferred.

FOREIGN SHAREHOLDING

The foreign shareholding in the bank would be as per the extant FDI policy.

Voting Rights And Transfer/Acquisition Of Shares

As per Section 12 (2) of the Banking Regulation Act, 1949, the voting rights in private sector banks are capped at 10 per cent, which can be raised to 26 per cent in a phased manner by the RBI. Further, as per Section 12B of the Act ibid, any acquisition of 5 per cent or more of voting equity shares in a private sector bank will require prior approval of RBI. This will also apply to the Payments Banks.

PRUDENTIAL NORMS

As the Payments Bank will not have loans and advances in its portfolio, it will not be exposed to credit risk and, the prudential norms and regulations of RBI as applicable to loans and advances, will therefore, not apply to it. However, the Payments Bank will be exposed to operational risk and should establish a robust operational risk management system. Further, it may face liquidity risk, and therefore is required to follow RBI’s guidelines on liquidity risk management, to the extent applicable.

BUSINESS PLAN

The applicants for Payments Bank licences will be required to furnish their business plans and project reports with their applications. The business plan will have to address how the bank proposes to achieve the objectives of setting up of Payments Banks. The business plan submitted by the applicant should be realistic and viable. Preference will be given to those applicants who propose to set up Payments Banks with access points primarily in the under-banked States / districts in the North-East, East and Central regions of the country. However, to be effective, the Payments Bank should ensure widespread network of access points particularly to remote areas, either through their own branch network or BCs or through networks provided by others. The bank is expected to adapt technological solutions to lower costs and extend its network. In case of deviation from the stated business plan after issue of licence, RBI may consider restricting the bank’s expansion, effecting change in management and imposing other penal measures as may be necessary.

CORPORATE GOVERNANCE

The Board of the Payments Bank should have a majority of independent Directors.

The bank should comply with the corporate governance guidelines including ‘fit and proper’ criteria for Directors as issued by RBI from time to time.

SOURCE :RBI
https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=2857

Thanks to Ashutosh Kumar Kausha

Holiday Homes at Rameswaram Sir / Madam. and Puduchery in Tamil Nadu Circle.

Holiday Homes at Rameswaram Sir / Madam. and Puduchery in Tamil Nadu Circle.

Regarding obtaining of affidavit on “Diabetes” and “Hypertension” from PLI/RPLI proponents

Regarding obtaining of affidavit on “Diabetes” and “Hypertension” from PLI/RPLI proponents

 

Status of Cadre Review Proposal as on 30.06.2015

Status of Cadre Review Proposal as on 30.06.2015

After approval from Secretary (Posts) and Secretary (Expenditure) Cadre review proposal of IPoS cadre is pending at Cabinet Secretariat. 

CLICK HERE to see the status of cadre review proposal of all departments. 

Parliament panel wants doubling of pay, automatic pay revision mechanism for MPs

Parliament panel wants doubling of pay, automatic pay revision mechanism for MPs

Parliament panel wants doubling of pay, automatic pay revision mechanism for MPs

NEW DELHI: A parliamentary panel has recommended doubling the salary of law makers and also increasing pension of former MPs by almost 75%. The joint committee, which has submitted its recommendations to the government, has also proposed an automatic pay revision mechanism for parliamentarians like that of pay commission for government employees.

Sources said the panel has made a total of around 60 recommendations. "The committee has reasoned that the last revision of MPs salary happened in 2010 and they don't get any dearness allowance like that of government employees," said a government source.

At present, sitting MPs get monthly salary of Rs 50,000. The panel has also recommended that the daily allowance of Rs 2,000, which they get for attending the House during Parliament sessions should be increased substantially, sources said.

"The hike is overdue. Our daily expenses only for offering tea to visitors come to around Rs 1,000. Can we stop showing this little courtesy to electorates?" asked a sitting BJP lawmaker.

TOI has learnt that the panel headed by BJP MP Yogi Adityanath has recommended that former MPs should also be entitled for 20-25 free domestic air travel in a year and increase in pension from Rs 20,000 to Rs 35,000 per month.

Read more at: http://timesofindia.indiatimes.com

P A / S A Direct Recruitment to be held for the year 2015

P A / S A Direct Recruitment to be held for the year 2015

Electronic Filing of Income Tax Returns for 2015-16 Commences

Electronic Filing of Income Tax Returns for 2015-16 Commences

 ITR 1-Sahaj, 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business 
 

ITR 4S - SUGAM can be Used by an Individual or an HUF Whose Income Includes Business Income Assessable on Presumptive Basis 
 

Taxpayers Requested to E-File Their Returns Early to Avoid the Rush Closer to the Last Date of Filing.   
 

The Income Tax Department has released the software for preparing the Income Tax Return forms 1- SAHAJ, 2, 2A and 4S- SUGAM for AY 2015-16. The e-filing of these return forms has been enabled on the e-filing website-https://incometaxindiaefiling.gov.in.  

ITR 1-SAHAJ, 2 and 2A can be used by individual or HUF whose income does not include income from business. ITR 4S - SUGAM can be used by an individual or HUF whose income includes business income assessable on presumptive basis. The elaborate details of the persons who can use these forms are available in the instructions for filling the forms. 

The facility for pre-filling of information for these return forms is available in the software for preparing the return forms. When the taxpayer exercises this option and just fills in his PAN, then personal information and information on taxes paid and TDS will be auto-filled in the form. Taxpayers are requested to use the return preparation software available free of cost under the ‘Downloads’ section on the home page of the Income Tax Department’s e-filing website-https://incometaxindiaefiling.gov.in. The use of Departmental software will ensure preparation of error-free returns thereby avoiding any need for future rectification due to data validation mistakes. 

Taxpayers are requested to e-file their returns early to avoid the rush closer to the last date of filing. 

Source : PIB

Instructions on recording of Annual Performance Appraisal Report (APAR)- reg.

Instructions on recording of Annual Performance Appraisal Report (APAR)- reg.

Click here to view

Medical fee payable to Doctors

Medical fee payable to Doctors

Make staff transfer, posting information public: Centre to departments

Make staff transfer, posting information public: Centre to departments

The information related to employees' transfer and posting should be put in public domain promptly to reduce the number of RTI applications, the Centre said today. 

The Department of Personnel and Training (DoPT) has written to all central government ministries asking them to comply with Section 4 of the Right to Information (RTI) Act and suo motu disclose all governance related information in public domain. 

"Access to information should be made user-friendly for which appropriate information technology infrastructure should be suitable designed, developed and operationalised," it said. 

The DoPT has also asked the public authorities with high public dealings to put in place an effective system to redress grievances of affected persons, in order to minimise the burden of servicing RTI applications. 

"In order to reduce the number of RTI applications relating to service matters, the information relating to recruitment, promotion and transfers should be brought into public domain promptly," it said. 

The direction comes following a recommendation of a committee of experts to further strengthen implementation of suo motu disclosure of information under the transparency law by central government departments. 

The departments have been also asked to incorporate matters relating to the virtues of transparency, open government and RTI law in their training modules for professional upgradation of employees. 

"The retention and maintenance of specified documents for specified duration should be clearly spelt by each public authority in respect of its documents," the communique said. 

The RTI Act guarantees time-bound response to citizens' grievance on governance matters.

Source : The Economic Times

Digital India Week

Digital India Week

Several initiatives have been taken for introduction of Information Technology to empower people.  Some of the initiatives have resulted in development of products to extend various services in areas relating to health, education, labour and employment, commerce etc.  The Prime Minister Shri Narendra Modi would launch the Digital India Week this evening urging people to gain knowledge and  to empower themselves  through the Digital India Programme of his Government.

Digital India has been envisioned as an ambitious umbrella programme to transform India into a digitally empowered society and knowledge economy. It comprises of various initiatives under the single programme each targeted to prepare India for becoming a knowledge economy and for bringing good governance to citizens through synchronized and co-ordinated engagement of the entire Government. 

This programme has been envisaged and coordinated by the Department of Electronics and Information Technology (DeitY) in collaboration with various Central Ministries/Departments and State Governments. The Prime Minister as the Chairman of Monitoring Committee on Digital India, activities under the Digital India initiative is being carefully monitored. All the existing and ongoing e-Governance initiatives have been revamped to align them with the principles of Digital India.

The vision of Digital India programme also aims at inclusive growth in areas of electronic services, products, manufacturing and job opportunities etc. The vision of Digital India is centred on three key areas -

(i)      Digital Infrastructure as a Utility to Every Citizen

(ii)    Governance & Services on Demand and

(iii)   Digital Empowerment of Citizens

With the above vision, the Digital India programme aims to provide Broadband Highways, Universal Access to Mobile Connectivity,  Public Internet Access Programme,  E-Governance: Reforming Government through Technology, eKranti - Electronic Delivery of Services, Information for All, Electronics Manufacturing: Target Net Zero Imports,  IT for Jobs  and Early Harvest Programmes. Several projects/products have already launched or ready to be launched as indicated below:

·        Digital Locker System aims to minimize the usage of physical documents and enable sharing of e-documents across agencies. The sharing of the e-documents will be done through registered repositories thereby ensuring the authenticity of the documents online.

·        MyGov.in has been implemented as a platform for citizen engagement in governance, through a “Discuss”, “Do” and “Disseminate” approach. The mobile App for MyGov would bring these features to users on a mobile phone.

·        Swachh Bharat Mission (SBM) Mobile app would be used by people and Government organizations for achieving the goals of Swachh Bharat Mission.

·        eSign framework would allow citizens to digitally sign a document online using Aadhaar authentication.

·     The Online Registration System (ORS) under the eHospital application has been introduced. This application provides important services such as online registration, payment of fees and appointment, online diagnostic reports, enquiring availability of blood online etc.

·     National Scholarships Portal is a one stop solution for end to end scholarship process right from submission of student application, verification, sanction and disbursal to end beneficiary for all the scholarships provided by the Government of India.

·     DeitY has undertaken an initiative namely Digitize India Platform (DIP) for large scale digitization of records in the country that would facilitate efficient delivery of services to the citizens.

·     The Government of India has undertaken an initiative namely Bharat Net, a high speed digital highway to connect all 2.5 lakh Gram Panchayats of country. This would be the world’s largest rural broadband connectivity project using optical fibre.

·     BSNL has introduced Next Generation Network (NGN), to replace 30 year old exchanges, which is an IP based technology to manage all types of services like voice, data, multimedia/ video and other types of packet switched communication services.

·     BSNL has undertaken large scale deployment of Wi-Fi hotspots throughout the country. The user can latch on the BSNL Wi-Fi network through their mobile devices.

·     To deliver citizen services electronically and improve the way citizens and authorities transact with each other, it is imperative to have ubiquitous connectivity. The government also realises this need as reflected by including ‘broadband highways’ as one of the pillars of Digital India.  While connectivity is one criterion, enabling and providing technologies to facilitate delivery of services to citizens forms the other.

      Policy initiatives have also been undertaken by DeitY in the e- Governance domain like e-Kranti Framework, Policy on Adoption of Open Source Software for Government of India, Framework for Adoption of Open Source Software in e-Governance Systems, Policy on Open Application Programming Interfaces (APIs) for Government of India, E-mail Policy of Government of India, Policy on Use of IT Resources of Government of India, Policy on Collaborative Application Development by Opening the Source Code of Government Applications, Application Development & Re-Engineering Guidelines for Cloud Ready Applications

·     BPO Policy has been approved to create BPO centres in different North Eastern states and also in smaller / mofussil towns of other states.

·     Electronics Development Fund (EDF) Policy aims to promote Innovation, R&D, and Product Development and to create a resource pool of IP within the country to create a self-sustaining eco-system of Venture Funds.

·     National Centre for Flexible Electronics (NCFlexE) is an initiative of Government of India to promote research and innovation in the emerging area of Flexible Electronics.

·     Centre of Excellence on Internet on Things (IoT) is a joint initiative of Department of Electronics & Information Technology (DeitY), ERNET and NASSCOM.

The estimated impact of Digital India by 2019 would be cross cutting, ranging from broadband connectivity in all Panchayats, Wi-fi in schools and universities and Public Wi-Fihotspots. The programme will generate huge number of IT, Telecom and Electronics jobs, both directly and indirectly. Success of this programme will make India Digitally empowered and the leader in usage of IT in delivery of services related to various domains such as health, education, agriculture, banking, etc.

**************

Grant of age concession to the Persons with Disabilities for direct recruitment to civil posts/services under the Central Government – Dopt Orders

Grant of age concession to the Persons with Disabilities for direct recruitment to civil posts/services under the Central Government – Dopt Orders

Grant of age concession to the Persons with Disabilities for direct recruitment to civil posts/services under the Central Government – Dopt Orders

G.I., Dept. of Per. & Trg., O.M.F.No15012/1/2003-Estt.(D), dated 29.6.2015

Subject: Grant of age concession to the Persons with Disabilities suffering from (a) blindness or ow vision, (b) hearing impairment and (c) locomotor disability or cerebral palsy for direct recruitment to civil posts/services under the Central Government.

The undersigned is directed to say that the following age concessions have been provided to physically handicapped persons for recruitment under the Central Government:

(i) Provision of ten years concession in upper age limit for Group C and D posts filled through employment exchanges issued vide O.M.No.15012/6/77-Estt.(D) dated 28.1.1978;

(ii) Provision of five years’ concession in upper age limit (10 years for SC/ST, 8 years for OBC) for recruitment to Group ‘A’ and ‘B’ posts otherwise than through Open Competitive Examination issued vide O.M.No.15012/5/92-Estt.(D) dated 27.7.1995; and

(iii) Provision of ten years concession in upper age limit (15 years for SC/ST, 13 years for OBC) for recruitment to Group A, B, C and D Civil Posts/Services filled through Open Competitive Examination issued vide O.M.No.43019/28/86-Estt.(D) dated 1.2.1999.

2. The question of prescribing uniform age-concession for direct recruitment to all Civil Posts/Services under the Central Government has since been examined and in supersession of the OMs referred to at (i), (ii) and (iii) above, the following has been decided:

Age relaxation of 10 years (15 years for SC/ST and 13 years for OBC candidates) in upper age limit shall be allowed to persons suffering from (a) blindness or low vision, (b) hearing impairment and (c) locomotor disability or cerebral palsy in case of direct recruitment to all civil posts/services under the Central Government identified suitable to be held by persons with such disabilities, subject to the condition that maximum age of the applicant on the crucial date shall not exceed 56 years.

(ii) The age concession to the persons with disabilities shall be admissible irrespective of the fact whether the post is reserved for person with disabilities or not, provided the post is identified suitable for the relevant category of disability. This provision will not apply to the Civil Services Examination, in respect of which the List of Services Identified suitable for Physically Disabled Category along with’ the Physical Requirements and Functional Classifications is notified separately.

(iii) Relaxation of age limit would be permissible to such persons who have a minimum of 40% disability.

(iv) The definitions of above categories of disabilities, for the purpose of age relaxation, will be same as given in this Department’s O.M. No. 36035/3/2004-Estt(Reservation) dated 29th December 2005.

(v) If a person with disability is entitled to age concession by virtue of being a Central Government employee, concession to him/her will be admissible either as a ‘person with disability’ or as a ‘Central Government employee’ whichever may be more beneficial to him/her. This provision will not apply to the Civil Services Examination, which is governed by the Civil Services Examination Rules, published annually.

(vi) Provisions of this O.M. will not be applicable to a post/service for which other specific provision regarding age relaxation is made by notification.

3. The Ministries/Departments are advised to ensure invariably that while sending the requisition to the UPSC/SSC and other recruitment agencies for direct recruitment posts by selection, they should clearly mention in the requisition the category of person(s) with disabilities suitable for the post(s) in question. No change or modification in identified post(s) for physically disabled persons with respect to an Examination, intimated after the Notification of that Examination, shall be acceptable.

4. These instructions come into effect from the date of their issue.

Click to view the original order

Authority : www.persmin.gov.in

7th CPC likely to recommend Jan 1, July 1 as Annual Increment days

7th CPC likely to recommend Jan 1, July 1 as Annual Increment days

7th Pay Commission likely to recommend Jan 1, July 1 as Annual Increment issuing days

“On July 1 of each year, annual increments are given for all the Central Government employees. So, tomorrow is the “Increment Day” for all.”

The 6th Pay Commission had introduced the practice of granting annual increment for all on the same day. Until then, increments were implemented for the employees based either on their date of joining or on their promotion dates.

In order to reduce the monthly work burden and for administrative expediency, suggestions from the various departments were presented to the 6th Pay Commission to recommend a single day as increment date. The 6th Pay Commission had recommend 1st July of earch year as increment day. From 01.01.2006 onwards, July 1 was made the day of implementation of annual increments to all CG staff.

Employees who are appointed after January 1st are not eligible for that year’s annual increment on July 1. They qualify for annual increment only the next year. And those who retire on 30th June, they are not eligible for annual increment.

The new increment rule continues to make a huge impact, when employees are joining duty and retire from duty, due to complex CCS (RP) rules on increment. Pointing out the practical difficulties in implementing this scheme, the National Council JCM suggested to the 7th Pay Commission may recommend that two specific dates, Viz January 1st and July 1st.

According to the NC JCM Staff Side suggestion, those recruited/appointed/promoted during the period between 1st January and 30th June will have their increment date on 1st January and those recruited/appointed/promoted between 1st July and 31st December will have it on 1st July next year.

It was also suggested to recommend that those who retire on June 30 and December 31 should be given one increment on the last day of their service.

Reliable sources confirm that, instead of granting 1st July, the 7th Pay Commission may recommend to implement a 2 Day annual increment method.

Source: CGEN.in

Expected DA hike from July 2015 might be 6%

Expected DA hike from July 2015 might be 6%

As already calculated in March, 2015 & April 2015 Expected DA/DR will be 119% with effect from July, 2015, it is now confirmed with 2 points increase in May, 2015 CPI-IW. As per press release issued on today by Labour Bureau the All India Consumer Price Index for Industrial Worker for the month May, 2015 increased by 2 points and pegged at 256. The 6% increase in future DA/DR from July, 2015 i.e. DA/DR will be 119% from July, 2015 is more confirm with this increase. 

A 6 points increase in June, 2015 CPI-IW Index is needed to increase the above said calculation in expected DA/DR to 120% and the other side a 8 point decline in June, 2015 CPI-IW Index is needed to decrease the expected DA/DR to 118%. The 6 points increase and 8 point decrease is future CPI-IW index is not near to possibility.

Therefore, Dearness Allowance for Central Government Staff and Dearness Relief for Pensioners with effect from July, 2015 is likely to increase 6% and to be 119% the present DA/DR is 113%

Requirement of taking prior permission for leaving station/headquarters from going abroad while on leave.

Requirement of taking prior permission for leaving station/headquarters from going abroad while on leave.

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Automatic Refund of Confirmed/ RAC E-Tickets on Cancellation of Trains

Automatic Refund of Confirmed/ RAC E-Tickets on Cancellation of Trains

Ministry of Railways have decided to grant automatic refund of Confirmed/RAC e-tickets on cancellation of trains similar to waitlisted e-tickets. There shall not be any requirement for cancellation/filing of TDR for refund of e-tickets in case of cancellation of trains. This will become effective very shortly.

In case of cancellation of trains, PRS counter ticket shall continue to be refunded across the reservation counter as per the existing provisions.

 

Source : PIB Release, 30.06.2015

Quote of the Day June 30