Expected DA Jan 2016 – AICPIN for the month of September 2015

Expected DA Jan 2016 – AICPIN for September 2015 No.5/1/2015-CPI GOVERNMENT OF INDIA MINISTRY OF LABOUR & EMPLOYMENT LABOUR BUREAU CLEREMONT, SHIMLA-171004  DATED : 30th October, 2015 Press Release Consumer Price Index for Industrial Workers (CPI-IW) – September, 2015 Click here to read continue...

Government to issue Sovereign Gold Bonds with effect from 26th November, 2015; Bonds to be sold through banks and designated post offices

Government to issue Sovereign Gold Bonds with effect from 26th November, 2015; Bonds to be sold through banks and designated post offices

Government of India, in consultation with Reserve Bank of India (RBI), has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may be notified. The borrowing through issuance of the Bond will form part of market borrowing programme of Government of India.

It may be recalled that the Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold.

The major features of the Bond are given below:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond
2	Issuance	To be issued by Reserve Bank India on behalf of the Government of India.
3	Eligibility	The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions.
4	Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5	Tenor	The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.
6	Minimum size	Minimum permissible investment will be 2 units (i.e. 2 grams of gold).
7	Maximum limit	The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.
8	Joint holder	In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.
9	Frequency	The Bonds will be issued in tranches. Each tranche will be kept open for a period to be notified. The issuance date will also be specified in the notification.
10	Issue price	Price of Bond will be fixed in Indian Rupees on the basis of the previous week’s (Monday–Friday) simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Ltd. (IBJA).
11	Payment option	Payment for the Bonds will be through electronic funds transfer/cash payment/ cheque/ demand draft.
12	Issuance form	Government of India Stock under GS Act, 2006. The investors will be issued a Stock/Holding Certificate. The Bonds are eligible for conversion into demat form.
13	Redemption price	The redemption price will be in Indian Rupees based on previous week’s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.
14	Sales channel	Bonds will be sold through banks and designated Post Offices, as may be notified, either directly or through agents.
15	Interest rate	The investors will be compensated at a fixed rate of 2.75 per cent per annum payable semi-annually on the initial value of investment.
16	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
17	KYC Documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.
18	Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961) and the capital gains tax shall also remain same as in the case of physical gold.
19	Tradability	Bonds will be tradable on exchanges/NDS-OM from a date to be notified by RBI.
20	SLR eligibility	The Bonds will be eligible for Statutory Liquidity Ratio.
21	Commission	Commission for distribution shall be paid at the rate of 1% of the subscription amount.

7th CPC – Modifications in LTC – Expectations..

Everyone knows that Central Government Employees are entitled to avail Leave Travel Concession (LTC) once in two years to visit home town and once in four years to visit any places in India. The employees are reimbursed full expenses for transport from the work station to the place to be visited and back.

 
Before the sixth CPC was implemented, availing of LTC by the employees was less in number all over India. In order to encourage employees to avail LTC, the Central Government made some impressive modifications in the rules, which saw a huge increase in the percentage of employees going for it. The employees were allowed to travel by air to Jammu & Kashmir and North Eastern States and it continued till June 2015. The modification in the rules that was brought in was the travelling expenses were given in packages depending upon employee’s designation. These visits by the employees saw a huge growth in tourism in these states. It turned out to be a great opportunity for the employees to travel to these places, to know different people, their culture and so on. But for unknown reason, the central government did not extend the orders beyond June 2015.
 
Home Town LTC:
 
Is it possible to make changes in the Permanent Address of a Central Government Employee?   
 
Those Central Government Employees having their Hometown on the outskirts of their work places, are automatically ineligible for availing LTC Hometown. But they are eligible for the LTC for visiting any other places in India. For the benefit of those employees, in exceptional cases,  the CCS Rules (LTC) – Change of Hometown –  allows an employee to change the Permanent Address only once in their whole service. The employee can apply for this, through their respective head of sections with detailed documents. A male employee can choose the  native place of his wife or vice versa or any other closed relation’s address. Care should be taken while applying for the changes, as the rule allows only once in their whole service. After the changes in the permanent address, the employee can apply for the LTC showing the new address.
 
Expecting new changes in 7th CPC  for availing LTC…
 
Central Government Employees should be allowed to avail LTC Home Town once in a year and All India LTC  once in three years which can bring huge changes in the department of tourism in India. It can motivate the employees to travel, visit different places, to know different people and their working conditions etc. Air travelling should be allowed to all other places in India and can be extended to other neighbouring countries also.
 
Let us wait and see for the recommendations…!

Shri K. Gunasekar, AGS will retire from Postal Services on 31-10-2015. He was honoured and a Letter of Honour was given to him and CWC.PHOTOS

On 27th and 29th the CWC of NUPE P-IV was held at Salem, (Tamilnadu Circle) under the Presidentship of Shri Gulam Rabbani, President, CHQ.

Shri D. Theagarajan, Secretary General, FNPO was present as Chief Guest. He briefed the CWC regarding 7th CPC, Bonus Act, Amendment in Labour Constitution etc.

Shri K. Gunasekar, AGS will retire from Postal Services on 31-10-2015. He was honoured and a Letter of Honour was given to him.

          CWC & GUNASEKAR.PHOTOS

Dated 28.10.2015 GS. DY GS. Along with guruji.pvs.&smt pvs vani MET M.P.photo..name..v.panner selvam..b.a.b.l..member of parliament lok sabha .govt of india .new delhi..

We are very much pleased to meet the Anna DMK Party, MP, Salem, Shri Panner Selvam who has promised to raise the issue of -

          (i)      Inclusion of GDS in 7th CPC and;

          (ii)     Recognition of GDS Union and other important issues to be given in writing. The Hon’ble MP will take up the issues in Parliament. Hon’ble MP assured that he will do his best. Let us hope for better.

Historical Grand Success= Central Working Committee Meeting During 27th to 29th October, 2015 in Salem in Tamilnadu Circle

Historical Grand Success

Central Working Committee Meeting

During 27th to 29th October, 2015 in Salem in Tamilnadu Circle

On 27th and 29th the CWC of NUPE P-IV was held at Salem, (Tamilnadu Circle) under the Presidentship of Shri Gulam Rabbani, President, CHQ.

CHQ Office Bearers (12) and Circle Secretaries (15) and other Senior Retired Persons and other important active members of the Union (13) attended the CWC and took active part in deliberations.

Shri D. Theagarajan, Secretary General, FNPO was present as Chief Guest. He briefed the CWC regarding 7th CPC, Bonus Act, Amendment in Labour Constitution etc.

Shri R.N. Gadgil (Guruji), Shri P.V. Subramaniam, Ex-G.S. and Ashok Kumar, Ex-C.S. Bihar were also present and addressed the CWC meeting.

We are very much pleased to meet the Anna DMK Party, MP, Salem, Shri Panner Selvam who has promised to raise the issue of -

            (i)         Inclusion of GDS in 7th CPC and;

            (ii)        Recognition of GDS Union and other important issues to be given in writing. The Hon’ble MP will take up the issues in Parliament. Hon’ble MP assured that he will do his best. Let us hope for better.

Shri K. Gunasekar, AGS will retire from Postal Services on 31-10-2015. He was honoured and a Letter of Honour was given to him.

(T.N. Rahate)

General Secretary