NFPE-CHENNAI GPO
Tuesday, 28 May 2013
Tuesday, 14 May 2013
Finance ministry opposes India Post’s banking licence plan
The finance ministry has opposed India Post’s
plan to seek a commercial banking licence from the Reserve Bank of
India (RBI) on grounds that the postal service doesn’t have the
expertise needed in relevant areas, such as handling credit.
India Post is keen to set
up a commercial bank called the Post Bank of India, arguing that it can
significantly boost financial inclusion in Asia’s third largest economy
through its nationwide network of 155,000 post offices.This will also allow the organization, which posted a loss of Rs.6,346
crore in fiscal 2012, to make up for business dropping off over the
years as letter writing dwindled and private courier firms took away
market share.
Losses have significantly increased in recent years on account of higher expenses.
However, the finance
ministry’s department of financial services doubts India Post’s ability
to set up and run a bank, according to a senior postal department
official who didn’t want to be named.Some of the country’s
large public sector banks have also been lobbying against the proposal,
concerned that India Post, with its vast branch network, could pose a
threat to their business, said the official, who’s directly involved
with the proposal.
“The larger idea of
setting up a bank is to further the cause of financial inclusion. Entry
of India Post into banking can significantly help address this
situation,” the official said.
However, “They (finance
ministry officials) are asking too many questions. Why (do) you need a
bank? What is your expertise to run a bank?” the official said.
India Post is engaged in
several related functions, such as running a savings bank scheme,
selling tax-saving instruments and accepting public provident fund
deposits. The government also uses post office accounts to route
payments to beneficiaries as part of the rural jobs programme and the
direct transfer of subsidies.
A former government official said the postal department should focus on its existing business.
“It is totally illogical
for the postal department to enter into banking. They do not have the
experience in handling credit or the ability to manage a bank,” said D.K. Mittal, who was finance secretary till recently.
“Mere experience in
collecting deposits under the post office scheme is not enough. The
department should ideally focus on improving their core activity.”
According to Mittal, the
department should adopt new technology and try to become profitable
instead of diversifying operations.Emails to financial services secretary Rajiv Takru last week remained unanswered.
RBI invited applications
from private and public sector entities in February to set up banks,
three years after former finance minister Pranab Mukherjee made the suggestion and nine years after the last round of licences were issued.
The application deadline expires on 1 July. The minimum capital required by applicants is Rs.500 crore.
Companies that have expressed interest in starting banks include L&T Finance Holdings Ltd, India Infoline Ltd, Religare Enterprises Ltd, Aditya Birla Financial Services Group, Mahindra and Mahindra Financial Services Ltd, LIC Housing Finance Ltd, Bandhan Financial Services Pvt. Ltd, Janalakshmi Financial Services Pvt. Ltd, Tata Capital Ltd, IDFC Ltd, Reliance Capital Ltd, India Infrastructure Finance Co. Ltd, Bajaj Finserv Ltd and Srei Infrastructure Finance Ltd.
Despite the finance
ministry’s reservations, India Post is determined to go ahead with its
application and has appointed consultancy firm Ernst and Young (E&Y) India to advise it on the plan, officials said.
The department is still in consultation with various ministries on the modalities of setting up a new bank.
While the plan is almost
two decades old, the department got serious about it sometime in 2006,
conducting internal viability studies and seeking the opinion of
consultancy firms.
The move gathered momentum when RBI announced final licensing norms for new banks in February.
According to an interim
report submitted by E&Y India in April, the proposed Post Bank of
India will focus on the bottom of the pyramid, or the poor, in non-metro
centres and avoid urban areas that are already well served by large
banks.
“The existing deposit
holders under the post office savings bank scheme will have an option to
transfer their deposits to the bank if they choose to do so,” said the
postal department official cited earlier in the story.
In the initial phase, the
Post Bank will have 300-400 branches and a specific number of postal
outlets will be managed by each of them.
According to the official,
the department of posts plans to introduce an advanced technology
platform that will connect all post office branches. It has also studied
models of post offices that run banks in Germany and Japan.E&Y will soon submit its final report to the postal department, said Ashvin Parekh, partner (financial services).
“There have been some
concerns raised by the finance ministry regarding the proposal,” he
said. “We are in the process of submitting our final report, which
will...answer all...concerns.”
Financial inclusion, or
ensuring that more of the country’s citizens become part of the banking
system, has been a key aim of both the central bank and the Congress-led
United Progressive Alliance government for several years. About 40% of
India’s population still do not have access to formal financial
services.
RBI introduced a
three-year financial inclusion programme in April 2010 that saw banks
opening outlets in 200,000 villages. RBI has advised banks to draw up a
financial inclusion plan for 2013-2016 to further broaden access.
India Post will pitch its
vast branch network as an advantage in this direction, although the
current state of some of these outposts isn’t likely to inspire much
confidence in those looking for a safe place to keep their money.
Out of the total 154,866
post offices, 139,040 are in rural areas. About 6,000 people are covered
on average by a post office in rural areas and about 24,000 in urban
areas, according to a 2011 estimate by the postal department.As of 31 March, the outstanding balance under the post office savings scheme stood at Rs.6.05 trillion, which is equivalent to half the deposits of government-owned State Bank of India, the country’s largest commercial bank, and double that of the largest private lender, ICICI Bank Ltd.
E&Y’s Parekh said:
“The idea is not to convert the existing post office savings into a
bank. The plan is to create a completely new bank. Hence there won’t be
any large requirement of capital in the beginning,”
As for the finance ministry’s concerns about lack of credit experience, Parekh said: “This can be built up gradually.”
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Saturday, 11 May 2013
Transfers and Postings in JAG cadre of IPoS Group A
Directorate has issued the following transfers and Postings in JAG
cadre of IPoS Group A vide Memo No. No 2-8 / 2013 - SPG (pt) dated
10.05.2013.
1. Shri.J.T.Venkateswaralu, (IPoS1994), DPS (HQ) TN Circle, Chennai posted as DPS, CCR, TN Circle.
2. Dr.N.Vinod Kumar, (IPoS1994), Director, PLI Investment Dn, Mumbai, Maharashtra posted as DPS (HQ), Maharashtra Circle.
3. Ms.Shoba Madhale, (IPoS1994), Director, Mumbai GPO, Maharashtra Circle posted as Director (Mails & SP), Maharashtra Circle, Mumbai.
4. Shri.T.Manmingthang, (IPoS1994), DPS, Manipur (Imphal), NE Circle posted as Director, Mumbai GPO, Maharashtra Circle.
5. Ms.S.S.Kujur, (IPoS1995), DPS (HQ), Jharkhand Circle, Ranchi posted as Director, PLI, Kolkatta, West Bengal Circle.
6. Shri.M.U.Abdali, (IPoS1995), DPS (HQ), Bihar Circle, Patna posted as Director (PMU), Dte, New Delhi.
7. Ms.Manisha Mishra,(IPoS1997), DPS Gurgaon, Haryana Circle posted as Director (Tech), Dte New Delhi.
8. Shri.V.S.Jayasankar, DPS, Southern Region, Madurai posted as DPS, Western Region, Coimbatore.
9. Shri.A.Govindarajan,(IPoS 2000), DPS (HQ), Kerala Circle, Thiruvananthapuram posted as DPS (HQ), Tamilnadu Circle, Chennai.
10. Shri.Parimal Sinha, (IPoS2001), Director (Mails & SP), Tamilnadu Circle, Chennai posted as DPS (HQ), Bihar Circle, Patna.
11. Shri.Ashok Kumar Yadav, IPoS2004) adhoc, Jt Director, RAKNPA, Ghaziabad posted as DPS, Gorakhpur, UP Circle.
12. Shri.Sayeed Rashid, (IPos2003), on deputation to Govt of Kerala posted in adhoc JAG as DPS (HQ), Kerala Circle, Thiruvananthapuram.
Source : http://sapost.blogspot.in/2013/05/transfers-and-postings-in-jag-cadre-of.html
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NFPE GPO
1. Shri.J.T.Venkateswaralu, (IPoS1994), DPS (HQ) TN Circle, Chennai posted as DPS, CCR, TN Circle.
2. Dr.N.Vinod Kumar, (IPoS1994), Director, PLI Investment Dn, Mumbai, Maharashtra posted as DPS (HQ), Maharashtra Circle.
3. Ms.Shoba Madhale, (IPoS1994), Director, Mumbai GPO, Maharashtra Circle posted as Director (Mails & SP), Maharashtra Circle, Mumbai.
4. Shri.T.Manmingthang, (IPoS1994), DPS, Manipur (Imphal), NE Circle posted as Director, Mumbai GPO, Maharashtra Circle.
5. Ms.S.S.Kujur, (IPoS1995), DPS (HQ), Jharkhand Circle, Ranchi posted as Director, PLI, Kolkatta, West Bengal Circle.
6. Shri.M.U.Abdali, (IPoS1995), DPS (HQ), Bihar Circle, Patna posted as Director (PMU), Dte, New Delhi.
7. Ms.Manisha Mishra,(IPoS1997), DPS Gurgaon, Haryana Circle posted as Director (Tech), Dte New Delhi.
8. Shri.V.S.Jayasankar, DPS, Southern Region, Madurai posted as DPS, Western Region, Coimbatore.
9. Shri.A.Govindarajan,(IPoS 2000), DPS (HQ), Kerala Circle, Thiruvananthapuram posted as DPS (HQ), Tamilnadu Circle, Chennai.
10. Shri.Parimal Sinha, (IPoS2001), Director (Mails & SP), Tamilnadu Circle, Chennai posted as DPS (HQ), Bihar Circle, Patna.
11. Shri.Ashok Kumar Yadav, IPoS2004) adhoc, Jt Director, RAKNPA, Ghaziabad posted as DPS, Gorakhpur, UP Circle.
12. Shri.Sayeed Rashid, (IPos2003), on deputation to Govt of Kerala posted in adhoc JAG as DPS (HQ), Kerala Circle, Thiruvananthapuram.
Source : http://sapost.blogspot.in/2013/05/transfers-and-postings-in-jag-cadre-of.html
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GRANT OF EX-SERVICEMEN STATUS TO APS PERSONNEL
The
officials who were on deputation to APS for more than 6 months prior to
14.04.1987 would also be considered as Ex-Servicemen with all benefits /
consequential benefits . To see the orders of the Defence Ministry ,
please 'click' the link below :-
http://www.govtempdiary.com/wp-content/uploads/2013/05/DESW-OM-Dated.10-April2013.pdf
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http://www.govtempdiary.com/wp-content/uploads/2013/05/DESW-OM-Dated.10-April2013.pdf
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Square Communications wins creative mandate of India Post
Government postal agency India Post has empanelled Square Communications as its creative partner. The multi-agency pitch process began in early 2012 in Delhi. The agency will handle all above the line and below the line requirements of the overall brand (India Post) and its five product services - IMO (instant money order, EMO (electronic transmission of money order), speed post, postal life insurance and parcels - across India.The business size is said to be in the range of Rs 5-10 crore.
In 2009, afaqs! had reported how India Post had given its creative and media mandate to Span Communications. Prior to that, the account was being serviced by Ogilvy, which helped in India Post's new branding makeover and created its new logo in 2008.
Navneet Kapoor, president and CEO, Square Communications, says the agency will conceptualise and create a complete 360 degree campaigns for the postal service. Besides, TV, radio and outdoor, the agency will handle digital requirements. In fact, the agency is in talks to create a postal app and a microsite for each of the products offered by India Post. "We are aiming to emphasis on the concept of India Post delivering values," he says.
While, the agency has suggested a branding activity at airports, there are also talks on intra-communication solution within the organisation. Out of its 1,55,015 post offices, only 25000 are in urban areas. In rural areas, there is a lack of communication among the staff, who don't have in-depth knowledge about the different services. So, we have suggested workshops in India Post's 22 circles in India," Kapoor explains. He also points out that a TV, print and radio campaign is expected to come out by June.
As for the branding challenges India Post might face, Kapoor states that while speed post and courier service is a challenge for the organisation, it has a huge spread and network across the country in terms of money order and parcels, especially in non-urban areas.
Square Communications is a Delhi-based creative agency and is empanelled with Indian Oil, NBCC, NHPC, NHAI, STC, NTC, Delhi Govt., Uttarakhand Tourism, Engineers India Ltd., ITDC, Niftem, DFCC.
Source : http://www.afaqs.com/news/story/37466_Square-Communications-wins-creative-mandate-of-India-Post
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MGNREGA PAYMENT THROUGH POST OFFICES
State
Governments have entrusted post offices to disburse wages to workers under
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA). Such
disbursal of wages is done either through worker’s wage accounts or Post
Office Savings Bank (POSB) accounts. On receipt of the wage list and funds
from the State Government, the post offices credit the amount to the worker’s
accounts. Workers withdraw the amount from the accounts at their
convenience.
(Release ID :95794) 08th May 2013 PIB
Source : http://nfpe.blogspot.in/
Department of Posts has rolled out Electronic Fund Management System
(eFMS) in 46 pilot districts of Direct Benefit Transfer (DBT) through post
offices enabling electronic credit of wages in worker’s accounts for speedy
disbursal of wages to workers.
This information was given by Dr. (Smt.) Killi Kruparani, Minister of State for C&IT in a written reply to a question in Lok Sabha today.
This information was given by Dr. (Smt.) Killi Kruparani, Minister of State for C&IT in a written reply to a question in Lok Sabha today.
**********
MV/RK(Release ID :95794) 08th May 2013 PIB
Source : http://nfpe.blogspot.in/
Tuesday, 7 May 2013
CONFEDERATION OF 24TH NATIONAL CONFERENCE, COM. M. KRISHNAN ELECTED AS NEW SECRETARY GENERAL
Com. S. K. Vyas (Advisor),
Com. K. K. N. Kutty (President),
Com. M. S. Raja (Working President),
Com. M. Krishnan (Secretary General),
Com. K. P. Rajagopal (Secretary),
Com. Vrighu Bhattacharjee (Finance Secretary),
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Rates of Dearness Allowance applicable w.e.f. 01.01.2013 to the employees of Central Government and Central Autonomous Bodies continuing to draw their pay in the pre-revised scale as per 5th CPC
Click the below link for details
http://finmin.nic.in/the_ministry/dept_expenditure/notification/da/da_order_cab01012013.pdf
Wednesday, 24 April 2013
Expected DA from July-2013 will be not less than 89% after 2 point increase in Index
SOURCE: http://karnmk.blogspot.in/2013/03/expected-da-from-july-2013-will-be-not.html
As all are waiting for announcement of Dearness Allowance for Central
Government Employees from January, 2013, which has been not announced
till the writing of this post. In the meanwhile Ministry of Labour
& Employment has published Consumer Price Index Numbers for
Industrial Workers (CPI-IW) February 2013. According the press release
the the All-India CPI-IW for February, 2013 rose by 2 points and pegged
at 223 (two hundred and twenty three). This two point
increase showing confirm 9% increase in Dearness Allowance from July,
2013. Hence Expected DA from July, 2013 will be not less than 89%. It
is also make clear from following table:-
Launch of RTI web portal for online filing of RTI application - Dopt order
No. 1/1/2013-IR
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training
North Block, New Delhi
Dated: 22/04/2013
OFFICE MEMORANDUM
A Web Portal namely RTI Online with un https://rtionline.gov.in has been
launched. This portal, developed by NIC, is a facility for the Indian
Citizens to online file RTI applications and first appeals and also to
make online payment of RTI fees. The prescribed fees can be paid through
Internet banking of State Bank of India and its associate banks as well
as by Credit/Debit cards of Visa/Master, through the payment gateway of
SBI linked to this site.
2. At present, this facility is available only for Department of
Personnel and Training (DoPT). It is planned to extend this facility to
all the Ministries/Departments of Govt. of India within a month. This
facility is presently not proposed to be extended for field
offices/attached/subordinate offices.
3. This system would work as RTI MIS also. The details of RTI
applications received through post should also be entered into this
system. The system would also provide for online reply of RTI
applications, though reply could be sent by regular post also.
4. It is requested that full co-operation may be extended for the
successful implementation/roll out of this facility. First of all, it is
necessary that the RTI Nodal Officers, officials of RTI Cell and all
the CPIOs / FAAs of the Ministries/Department sare trained to use this
facility. Arrangements have been made to provide training to the RTI
Nodal Officers, RTI Cell officials and the NIC/1T personnel attached
with the Ministries/Departments, by DoPT with the help of NIC, within
next 2-3 weeks. The schedule for such training would be intimated to the
RTI Nodal Officers directly. It is requested that training for all the
CPIOs and FAAs may be organized by the concerned Ministry/Department,
through these officers trained by DoPT / NIC5. The screen shot of the
home page of the portal, the terms and conditions and
copy of the O.M.No.1/1/2013-IR dated 08.04.2013 issued in respect of DoPT are enclosed for information.
6. The contents of this 0M may be brought to the notice of all concerned.
sd/-
(Sandeep Jain)
Deputy Secretary
Source: www.persmin.nic.in
[http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02rti/1_1_2013-IR-D.pdf]
No merger of D.A. but seventh pay commission likely this year
According to our sources in New Delhi, there is no chance of any
merger of Dearness Allowance with basic pay as demanded by the
associations. But the Government is considering the formation of seventh
pay commission.
The seventh CPC is scheduled to be effective from 1.1.2016 and if it
is formed this year, there will be ample time to finalize it's
recommendations. Moreover, if it is not effective from an earlier date,
the Govt. will be free from any burden of paying arrears, which may
adversely effect the fiscal situation. Most significantly, in the eve of
general election, the Govt. may spread a "feel good" situation among
the employees without having to pay an extra penny from the exchequer.
In the other hand merging D.A. with basic pay will lead to a
considerable expense and as there is definite negative recommendation of
sixth CPC in this respect, Govt. can easily deny this demand. After
formation of seventh CPC, if the ruling party fails to come back in the
corridors of power, the entire liability will have to be borne by the
new Govt. So, it's a win win situation of the ruling party and most
likely, it will be announced in the later half of the year.
Source : http://paycommissionupdate.blogspot.in/
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NFPE GPO
Friday, 19 April 2013
!!Finally DA HIKE APPROVED!!
Union Cabinet today approved the proposal to increase dearness allowance (DA) to 80 per cent, from existing 72 per cent, benefiting about 50 lakh employees and 30 lakh pensioners of the central government.
The hike would be effective from January 1, 2013 and the employees and pensioners will be entitled to arrears.
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