.
Tuesday, August 2, 2011
Dearness Allowance likely to be increased by 7% AICPIN (All-India Average Consumer Price Index Numbers for Industrial Workers) for the month of June
.
Written by Administrator on August 1st, 2011
AICPIN (All-India Average Consumer Price Index Numbers for Industrial Workers) for the month of June has been announced and it stands atat 189. The Dearness allowance for Central Government employees and pensioners will be enhanced by 7% from July 2011. This makes the total DA at 58%
The DA is calculated based the average of the last 12 AICIPN which was as follows
June 2010 -174
July 2010 - 178
August 2010 - 178
September 2010 - 179
October 2010 - 181
November 2010 - 182
December 2010 - 185
January 2011 - 188
February 2011 - 185
March 2011 - 185
April 2011 - 186
May 2011 - 187
June 2011 - 189
The hike is likely to be announced in the second week of the September after cabinet approval.
The All-India (General) point to point rate of inflation for the month of June, 2011 is 8.62% as compared to 8.72% in May, 2011. Inflation based on Food Index is 6.91% in June, 2011 as compared to 7.61% in May, 2011.
SIBAL TO CONVERT 1.5 LAKH POS INTO BANKS; TO SEEK RBI NOD
.The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil.
Telecom Minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices.
"We want to commercialise the department. We will seek a licence from the RBI to convert all our post offices into banks," Sibal told PTI.
The lack of modern banking facilities in rural areas and dependence of villagers on informal sector for their credit requirements has prompted the government to work on financial inclusion by way of setting up 'postal banks'.
"The State Bank of India can't build branches all over India, but there are post offices across India. The branches are already there, so infrastructure expenditure is not required. So you can actually give banking facilities at relatively lower costs, which would be extremely beneficial to people," he said.
The post offices currently offer financial services like savings bank, postal life insurance, pension payments and money transfer services. Its total corpus stood at Rs 5,82,832.9 crore as on March 31, 2011.
DoP's revenues grew 11 per cent to Rs 6,954.09 crore in 2010-2011 from Rs 6,266.70 crore in the previous fiscal.
However, negative growth rate in some circles has pushed the Department's deficit to Rs 6,625 crore in FY'11, almost equal to the annual revenue of the Department.
"I want to make the (postal) system commercialised. By corporatising over 1.5 lakh post offices across the country, the ministry is expecting to improve the quality of services, increase profitability and reduce prices," Sibal said.
Out of the 22 DoP circles, some circles like Chhattisgarh have reported a negative growth of 19 per cent, Jharkhand 18 per cent and North East 15.9 per cent, whereas Assam (23.7 per cent), Haryana (19.5 per cent), Karnataka (13.5 per cent) and Tamil Nadu (13.9 per cent), recorded positive growth.
Among other steps, the Minister has asked members of Postal Services Board (PSB) to ensure 20 per cent revenue growth on sustainable basis.
Each member of the PSB has been asked to identify, commercialise and operationalise five major schemes of the Indian government, and partner with 5 PSUs and 10 corporate houses for commercial tie-ups with India Post with revenue potential of at least Rs 50 crore each.
DoP is also believed to be working towards setting up ATMs and offer debit cards for its customers.
"My vision is that post offices must become banks, so that an ordinary man can with Rs 10 open an account. We can set-up ATM machines for the e-banking...we can do e-retail," Sibal said.
According to officials, work for setting up 1,000 India Post ATMs is at an advanced stage and DoP has already held parleys with vendors on this front.
The Department is also working on providing skill development courses to its over 4.75 lakh employees with the Human Resources Development Ministry.
"The postman should also learn e-banking so that he can actually help the consumer on the ground. So, we are developing specialised skill development courses with the HRD Ministry," Sibal said.
.
Telecom Minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices.
"We want to commercialise the department. We will seek a licence from the RBI to convert all our post offices into banks," Sibal told PTI.
The lack of modern banking facilities in rural areas and dependence of villagers on informal sector for their credit requirements has prompted the government to work on financial inclusion by way of setting up 'postal banks'.
"The State Bank of India can't build branches all over India, but there are post offices across India. The branches are already there, so infrastructure expenditure is not required. So you can actually give banking facilities at relatively lower costs, which would be extremely beneficial to people," he said.
The post offices currently offer financial services like savings bank, postal life insurance, pension payments and money transfer services. Its total corpus stood at Rs 5,82,832.9 crore as on March 31, 2011.
DoP's revenues grew 11 per cent to Rs 6,954.09 crore in 2010-2011 from Rs 6,266.70 crore in the previous fiscal.
However, negative growth rate in some circles has pushed the Department's deficit to Rs 6,625 crore in FY'11, almost equal to the annual revenue of the Department.
"I want to make the (postal) system commercialised. By corporatising over 1.5 lakh post offices across the country, the ministry is expecting to improve the quality of services, increase profitability and reduce prices," Sibal said.
Out of the 22 DoP circles, some circles like Chhattisgarh have reported a negative growth of 19 per cent, Jharkhand 18 per cent and North East 15.9 per cent, whereas Assam (23.7 per cent), Haryana (19.5 per cent), Karnataka (13.5 per cent) and Tamil Nadu (13.9 per cent), recorded positive growth.
Among other steps, the Minister has asked members of Postal Services Board (PSB) to ensure 20 per cent revenue growth on sustainable basis.
Each member of the PSB has been asked to identify, commercialise and operationalise five major schemes of the Indian government, and partner with 5 PSUs and 10 corporate houses for commercial tie-ups with India Post with revenue potential of at least Rs 50 crore each.
DoP is also believed to be working towards setting up ATMs and offer debit cards for its customers.
"My vision is that post offices must become banks, so that an ordinary man can with Rs 10 open an account. We can set-up ATM machines for the e-banking...we can do e-retail," Sibal said.
According to officials, work for setting up 1,000 India Post ATMs is at an advanced stage and DoP has already held parleys with vendors on this front.
The Department is also working on providing skill development courses to its over 4.75 lakh employees with the Human Resources Development Ministry.
"The postman should also learn e-banking so that he can actually help the consumer on the ground. So, we are developing specialised skill development courses with the HRD Ministry," Sibal said.
.
Monday, August 1, 2011
Clarification regarding given option for alteration/withdrawal or inclusion of new membership of service associations/unions in the month of April eac
Government of India
Ministry of Communications & IT
Department of Posts
(SR Section)
Dak Bhawan, Sansad Marg,
New Delhi-110 001.
No. 18/03/2011-SR Dated the 28th July, 2011
To
Heads of all Circles.
Subject: Clarification regarding given option for alteration/withdrawal or inclusion of new membership of service associations/unions in the month of April each year to be made effective from the month of July of that year.
Sir/Madam,
I am directed to refer to the Department's letter no. 13-1/93-SR dated 25.02.1994 circulating Department of Personnel & Training's OM No. 2/10/80-JCA dated 31.01.1994 regarding procedure for verification of membership of associations for the purpose of recognition under CCS(RSA) Rules, 1993. In accordance with instructions contained in said OM, option, if any, for alteration, withdrawal or inclusion of new members is to be given in the month of April each year to DDO or any other designated authority.
2. The Department, vide letter No. 13/01/2010-SR dated 18.02.2010, modified 'letter of authorization' prescribed by the DOPT specifically in order to comply with the directions of the Hon'ble Court of Madras given in Writ Petitions No. 4704-4707 of 1999 and Contempt Petition No. 950/09. The modified 'letter of authorization' was endorsed with signature of Director (SR & Legal) with an objective to rule out the possibility of using the old forms bearing the signature of the employees, as some of the associations had complained about it. The signature of Director (SR & legal) has no relevance in regard to letters of authorization which may be used for change of option or for seeking new membership in the month of April every year.
3. All the 'letter of authorization' whether bearing Director (SR & Legal)'s signature or not, applied during the month of April may be considered as per the standing instructions and in view of the clarification in the preceding paragraph.
Sd/-
(Subhash Chander)
Director (Sr & Legal)
Sibal to convert 1.5 lakh POs into banks; to seek RBI nod
.Telecom Minister wants POs to function as modern banking utilities in rural areas - DC photo
Related Articles
The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil.
Telecom Minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices.
"We want to commercialise the department. We will seek a licence from the RBI to convert all our post offices into banks," Sibal told PTI.
The lack of modern banking facilities in rural areas and dependence of villagers on informal sector for their credit requirements has prompted the government to work on financial inclusion by way of setting up 'postal banks'.
"The State Bank of India can't build branches all over India, but there are post offices across India. The branches are already there, so infrastructure expenditure is not required. So you can actually give banking facilities at relatively lower costs, which would be extremely beneficial to people," he said.
The post offices currently offer financial services like savings bank, postal life insurance, pension payments and money transfer services. Its total corpus stood at Rs 5,82,832.9 crore as on March 31, 2011.
DoP's revenues grew 11 per cent to Rs 6,954.09 crore in 2010-2011 from Rs 6,266.70 crore in the previous fiscal.
However, negative growth rate in some circles has pushed the Department's deficit to Rs 6,625 crore in FY'11, almost equal to the annual revenue of the Department.
"I want to make the (postal) system commercialised. By corporatising over 1.5 lakh post offices across the country, the ministry is expecting to improve the quality of services, increase profitability and reduce prices," Sibal said.
Out of the 22 DoP circles, some circles like Chhattisgarh have reported a negative growth of 19 per cent, Jharkhand 18 per cent and North East 15.9 per cent, whereas Assam (23.7 per cent), Haryana (19.5 per cent), Karnataka (13.5 per cent) and Tamil Nadu (13.9 per cent), recorded positive growth.
Among other steps, the Minister has asked members of Postal Services Board (PSB) to ensure 20 per cent revenue growth on sustainable basis.
Each member of the PSB has been asked to identify, commercialise and operationalise five major schemes of the Indian government, and partner with 5 PSUs and 10 corporate houses for commercial tie-ups with India Post with revenue potential of at least Rs 50 crore each.
DoP is also believed to be working towards setting up ATMs and offer debit cards for its customers.
"My vision is that post offices must become banks, so that an ordinary man can with Rs 10 open an account. We can set-up ATM machines for the e-banking...we can do e-retail," Sibal said.
According to officials, work for setting up 1,000 India Post ATMs is at an advanced stage and DoP has already held parleys with vendors on this front.
The Department is also working on providing skill development courses to its over 4.75 lakh employees with the Human Resources Development Ministry.
"The postman should also learn e-banking so that he can actually help the consumer on the ground. So, we are developing specialised skill development courses with the HRD Ministry," Sibal said.
Subscribe to:
Posts (Atom)
