Sunday, October 29, 2017

West Bengal Circle : General Body meeting

General Body meeting of All India Association of Inspectors and Assistant Superintendent, Posts, West Bengal Circle will be held at Barabazar HO on 5th November 2017 (Sunday) at 10.00 A.M. to discuss various issues related to IP cadre. 

DPC : JTS Gr. A for the year 2016-17 updates.....

In response to RTI application dated 26-9-2017 made by Mr. Jayantha Kumar M. of Karnataka, reply given by Directorate under Memo No. 24-71/2017-SPG dated 25-10-2017 is as under. 

1) Last JTS Gr. A DPC was held on 17-12-2015 for 36 vacancies. 

2) 12 IPoS candidates joined in JTS Gr. A cadre against the vacancies of 2016 and they are undergoing required training at RAKNPA Ghaziabad.

3) 23 vacancies for promotion through DPC for JTS Gr. A cadre are declared for the year 2016-17. Vacancies for the year 2017-18 are not calculated. 

4) JTS Gr. A DPC is pending in view of non finalization of matter of reservation in promotion and treatment of SC/ST candidates promoted on their own merit in CP (C) No. 314/2016 in SLP (C) No. 4831/2012-Samta Andolan Samiti through its President Vs Sanjay Kothari & others.

Saturday, October 28, 2017

Association is participating in 30th PSI World Congress at Geneva (Switzerland)

Public Services International (PSI), together with the Swiss Public Services Union (SSP), a PSI affiliate, will celebrate its 110 years of existence and, for first time in its history, will organize its World Congress in Geneva at the Centre International de Conferences (CICG, 17 rue de Verembe, 1211 Geneva 20). This event will gather between 1000 to 1200 participants representing the unions affiliated to PSI around the world.

PSI is a global trade union federation representing 20 million working women and men who deliver vital public services in 150 countries. It defends human rights and social justice and promotes universal access to quality public services. PSI works with the United Nations system and in partnership with labour, civil society and other organizations.

PSI and SSP has invited to our Association’s General Secretary, Vilas Ingale to participate in PSI’s World Congress to be held from 30th October to 3rd November 2017 in Geneva (Switzerland).  He has accepted the invitation and going to attend the 30th World Congress.

Our all old members are aware that Mr. Samuel, Ex-GS has taken initiative and made affiliation of our Association with PSI and since then we are associated with them and we are actively taking part in each event. 

Observance of Vigilance Awareness Week, 2017


Thursday, October 26, 2017

Postal dept ready to deliver traffic e-challans by speed post

Mumbai, Oct 25 (PTI) : The Maharashtra and Goa circle of the postal department has expressed willingness to deliver e-challans to traffic offenders by speed post.

The department has written a letter to the Mumbai Traffic Police as well as the state government in this regard, an official said.

The traffic police had been sending e-challans to motorists for violating norms through SMS. However, this system is reportedly not working well as e-challans are not getting delivered properly because of frequent change in mobile phone numbers of offenders.

"Therefore, we have come forward and written to the traffic police as well as the state government to let us deliver e-challans to their (offenders') doorstep through our speed-post service.

"The violators can deposit challan amount in the nearest post office through e-payment mode of the department," said H C Agrawal, Chief Post Master General (CPMG) of the Maharashtra and Goa Circle.

But this move (delivering e-challans through speed post) will put additional financial burden on the police department's budget. Therefore, the traffic police alone will not be able to go ahead with the proposal," Agrawal said.

The official suggested that to overcome the financial burden, the speed post cost could be recovered from offenders themselves.

If e-challans are printed and delivered at violators address with an acknowledgement receipt, it will ensure offenders pay the fine and police get their rightful revenue, he said, "this will also sending a message to motorists to follow traffic rules." With a view to digitise the entire process of recovering fines from road rule violators, the Mumbai traffic police, in January this year, launched e-challan system.

It set up CCTV cameras across the city to monitor traffic violations. Whenever a motorist broke traffic rules, his/her vehicles number was captured on CCTV cameras.

Later, an SMS was sent about fine to be paid after obtaining the offender's mobile phone registered with the RTO.

According to figures, on an average 5,000 e-challans are issued daily in Mumbai, mostly for over-speeding, signal jumping, not wearing helmets, triple-riding on two wheelers, talking on phone while driving, driving without seat belts and overstepping at zebra crossings.


Source : http://www.newindianexpress.com

Wednesday, October 25, 2017

Philatelic Seminar at Mumbai - 2nd December 2017.

The Royal Philatelic Society London has organized Philatelic Seminar on 2nd December during INPEX 2017 covering the philatelic subjects of Traditional Philately, Postal History, Thematic Philately and Postal Stationery.

The Speakers are Brian Trotter RDP FRPSL, UK (Traditional Philately), James Mazepa RDP FRPSL, USA (Postal History), Jari Majander, Finland (Thematic Philately), Ajeet Singhee, India (Postal Stationery) and Steven Zwillinger, USA (Exhibiting Techniques) 

Date & Time: 2nd Dec 2017 (Saturday) 9 am to 5 pm 

Venue : Hotel Taj President-Mumbai (3 minutes walk from World Trade Center) 

Fee : Rs. 2000 (includes Lunch & Tea)

Every participant will receive free copy of Indian Princely States Stamps and Postal History by Sandeep Jaiswal & Steven Zwillinger. (Normal Price Rs. 1300/-)

Contact for more information: indiarpsl@gmail.com


Commemorative Stamp on 3 Kumaon (Rifles) – 23rd October 2017.

The Kumaon Regiment is one of the most decorated infantry regiments of the Indian Army. The regiment traces its origins to the 18th century and has fought in every major campaign of the British Indian Army and the Indian Army, including the two world wars. Kumaon gets its recruits from Kumaonis of Kumaon division and Ahirs from the plains.

During World War I, a Kumaon Battalion was raised at Ranikhet on 23 October 1917 as 4/39th Kumaon Rifles. In 1918, it was redesignated as 1st Battalion, 50th Kumaon Rifles and a second battalion was raised. These were merged with the Hyderabad Contingent into the 19th Hyderabad Regiment in 1923. The first battalion of the 50th Kumaon Rifles survived to become the 1st Kumaon Rifles, and is today the 3rd Battalion, Kumaon Regiment (Rifles) of the Indian Army.

3 Kumaon Rifles Regiment Celebrated 100th Raising Day on 23rd October 2017. On this occasion a commemorative stamp was released by Department of Posts.



Commemorative Stamps on Chhatrapati Shivaji International Airport – 15th October 2017.

Chhatrapati Shivaji International Airport formerly known as Sahar International Airport, is the primary international airport serving the Mumbai. It is the second busiest airport in the country in terms of total and international passenger traffic after Delhi, and was the 14th busiest airport in Asia and 29th busiest airport in the world by passenger traffic in calendar year 2016 handling over 44.68 million passengers. The airport is the second busiest in the country in terms of cargo traffic also. In March 2017, the airport overtook London's Gatwick Airport as the world's busiest airport in terms of single runway operations. The airport has three operating terminals spread over an operational area of 1,850 acres and handles about 850 aircraft movements per day. It handled record 51 movements in one hour on 16 September 2014. It won the 2015 ASQ Best Airport Award in the 25-40 million passengers per annum category by Airports Council International. It has also won the "Best Airport in India and Central Asia" award at the Skytrax 2016 World Airport Awards. It is one of the three airports in India to have implemented Airport Collaborative Decision Making (A-CDM) to ensure timely takeoffs and landings.

Two Commemorative Stamps and a Miniature Sheet were released on 75 years on Chhatrapati Shivaji International Airport by Shri Harish C. Agrawal, Chief Postmaster General Maharashtra circle on 15th October 2017. The event was organised in the memory of the Late JRD Tata, who on October 15, 1932, piloted the first flight of Tata Air Services from Karachi to Mumbai via Ahmedabad carrying airmail.


Commemorative Stamps on Chhatrapati Shivaji International Airport

Commemorative Stamps on Chhatrapati Shivaji International Airport


Commemorative Stamp on Nanaji Deshmukh – 11th October 2017.

Chandikadas Amritrao Deshmukh also known as Nanaji Deshmukh (b. 11 October 1916 – d. 27 February 2010) was a social activist from India. He worked in the fields of education, health, and rural self-reliance, and has been honoured with the Padma Vibhushan by the Government of India. He was a leader of the Bharatiya Jana Sangh and also a member of the Rajya Sabha. Deshmukh became inspired by Lokamanya Tilak and his nationalist ideology, as well as showing an acquired interest in social service and activities. His family was in close contact with Dr. Keshav Baliram Hedgewar who was a regular visitor to Deshmukh's family. He could discern potential in Nanaji and encouraged him to attend RSS shakhas.

The Prime Minister, Shri Narendra Modi releasd the commemorative postage stamp on Nanaji Deshmukh, on his Birth Centenary Celebrations at IARI, in New Delhi on 11th October 2017. The Union Minister for Agriculture and Farmers Welfare, Shri Radha Mohan Singh, the Union Minister for Rural Development, Panchayati Raj and Mines, Shri Narendra Singh Tomar, the Minister of State for Agriculture & Farmers Welfare and Panchayati Raj, Shri Parshottam Rupala and the Minister of State for Rural Development, Shri Ram Kripal Yadav were also present on the occasion.


Commemorative Stamp on Nanaji Deshmukh


7th Pay Commission – Revision of rate of Training Allowance.

No.13024/01/2016-Trg.Ref.
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel and Training
[Training Division (IST/IIPA)]
Block-4, Old JNU Campus
New Mehrauli Road, New Delhi-67
Dated: October 24,2017
OFFICE MEMORANDUM

Subject: Implementation of Government’s decision on the recommendations of the Seventh Pay Commission – Revision of rate of Training Allowance.

Consequent upon the acceptance of the recommendations of the Seventh Central Pay Commission (CPC) by the Government conveyed vide Ministry of Finance, Department of Expenditure Resolution No. 11-1/2016-IC dated July 6, 2017, the President is pleased to decide that the Training Allowance in Training Academies and Institutes shall be regulated in the following manner:-

(i) Training Allowance
In the National/Central Training Academies and Institutes for Group’ A’ officers
24% of Basic Pay
In other Training Establishments
12% of Basic Pay

(ii) Training Allowance will be admissible only to the employees who join the training establishments for a specified period of time and are then likely to go back.

(iii) Training Allowance will not be admissible to those employees who are directly recruited by such training establishments for imparting training.

2.The revised rates of training allowance shall be admissible with effect from the 1st July, 2017.

3.In so far as the employees working in the Indian Audit and Accounts Department are concerned, these orders are issued with the concurrence ofthe Comptroller and Auditor General.

4.Hindi version will follow.

Sd/-
(Biswajit Banerjee)
Under Secretary to the Government of India




GPF interest rate wef 1st October, 2017 to 31st December, 2017.

The Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% (Seven point eight per cent) with effect from 1st October, 2017 to 31st December, 2017. This rate will be in force w.e.f. 1st October, 2017.

The Notification to this effect has been issued and published in the Gazette of India on 23rd October, 2017.

Tuesday, October 24, 2017

SB Order No.: 17/2017 - Mobile number is mandatory while opening of a new account in PO small saving scheme



Up-gradation of Grade Pay of Inspector of Posts w.e.f. 01-01-2006

GOOD NEWS 
TO ALL MEMBERS

ASSOCIATION WON THE BATTLE

THANKS TO ALL MEMBERS FOR THEIR ENDURANCE

Today, I am very very happy for getting the orders in our favour. 

Thanks to all Circle Secretaries and Members who donated the money to strengthen the CHQ fund. This is result of unity. 

Waiting same outcome in cadre restructuring proposal.

Yours friend, 

Vilas Ingale 
General Secretary


...............................................................................................................


Copy of judgement delivered by Hon'ble CAT Ernakulam Bench on 15/10/2015 is placed below for the information to the members. 






The copy of reply filed by DOP on behalf of MoF on 22/12/2016is as under : 



DEPARTMENT OF POSTS ISSUED ORDERS REJECTING DEMAND OF GP OF Rs. 4600/- to IPs FROM 1-1-2016

Amendments in the Central Civil Services (Classification, Control and Appeal) Rules,1965

To view DOP Memo No. 4-24/2016-Vig dated 12/10/2017, please CLICK HERE. 

Monday, October 23, 2017

GRAMIN DAK SEVAK ISSUE IN LOK SABHA – 22-03-2017

GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS
DEPARTMENT OF POSTS
LOK SABHA

UNSTARRED QUESTION NO.3450

TO BE ANSWERED ON 22ND MARCH, 2017

GRAMEEN DAK SEVAKS

3450. SHRI RAHUL KASWAN:
SHRI RAMESH BIDHURI:
SHRI BALABHADRA MAJHI:
SHRI TAMRADHWAJ SAHU:

Will the Minister of COMMUNICATIONS be pleased to state:

(a) the total number of postal circles in the country and the number of GPOs, SPOs and EDBOs functioning under these circles along with number of these post offices located in rural and urban regions separately;

(b) the number of post offices manned by Grameen Dak Sevaks (GDSs) State/UT-wise along with the details about the monthly salary of the GDS;

(c) whether Grameen Dak Sevaks (GDSs) are eligible for pension like other Government employees and if not, the reasons therefor;

(d) whether Government is contemplating to constitute any Committee to look into the salary structure and other service matters of Grameen Dak Sevaks and if so, the details thereof;

(e) whether the said committee has submitted its said report and if so, the salient features of the said report; and

(f) the time by which it is likely to be implemented?

ANSWER

THE MINISTER OF STATE (IC) OF THE MINISTRY OF COMMUNICATIONS & MINISTER OF STATE IN THE MINISTRY OF RAILWAYS (SHRI MANOJ SINHA)

(a) Madam, the total number of Postal Circles in the country is 23. The total number of GPOs is 24, the total number of Sub Post Offices (SPOs) is 24753, the total number of Extra Departmental Branch Offices (EDBOs) is 129346. The details of these post offices rural and urban regions wise is enclosed at Annexure-I.

(b) The number of post offices which are manned by Gramin Dak Sewaks (GDS) is given in the Annexure-II. Details of the monthly wages admissible to various categories of Gramin Dak Sewaks are given in the Annexure-III.

(c) No, Madam. The legal status of the Gramin Dak Sevaks as held in 1977 by Apex Court is that they are holders of the civil posts outside the regular civil service. Being a distinct and separate category, CCS (Pension) Rules, 1972 are not applicable in the case of Gramin Dak Sevaks (GDS).

(d) Yes, Madam. To examine the system of Branch Post Offices, engagement conditions, existing structure of allowances and all other welfare issues pertaining to Gramin Dak Sevaks, a one-man Committee under the Chairmanship of Shri Kamlesh Chandra, Retired Member Postal Services Board was set up.

(e) Yes, Madam. The committee has submitted its report. The salient feature of the report is given in the Annexure-IV.

(f) The recommendations of the committee are being examined by the Department of Posts. No timeline is specified to implement the recommendations of the Committee.





Source: Confederation


Retirement in the month of October 2017

Following officers are retiring from Govt. service on superannuation on 31/10/2017.

S.No. 
Name of officer S/Shri
Circle
1
Ponnuru Vishvanandan
Andhra Pradesh
2
Babulal Meena
Rajasthan
3
K Selvaraj-II
Tamil Nadu
4
P Parisudha Rao
Andhra Pradesh

CHQ is wishing them happy, healthy and peaceful retired life.

Atal Pension Yojana : Still Scope for increasing pension coverage

Press Information Bureau
Government of India
Ministry of Finance
16-October-2017 16:57 IST

Over 69 lacs subscribers join Atal Pension Yojana with contribution of Rs. 2690 crores

Secretary DFS: Still Scope for increasing pension coverage

Atal Pension Yojana currently has over 69 lacs subscribers with contribution of Rs. 2690.00 crores. Chairman, PFRDA Shri Hemant G Contractor however emphasised the need of increasing the pension coverage in India at a recently concluded conference on Atal Pension Yojana. The conference organised by Pension Fund Regulatory and Development Authority (PFRDA) in the national capital saw participation from all major banks, representatives from NPCI, SCHIL, SIDBI, Access Assist and some major MFIs.

A large section of the society still does not have access to pensions and this is a cause of concern for PFRDA and Government, Shri Contactor said. Congratulating the winners of the contest organised by PFRDA the Chairman said that APY has made progress in covering the intended subscribers but much remains to be done. He mentioned that on an average, a little less than 2% of the eligible population is covered under APY and hence a lot has to be done to provide people a regular access to old age income. He also touched upon the issues of persistence in the APY accounts and asserted that the objective of the scheme is to provide pension and this will only happen if the contribution in the account has been regularly paid. He urged the APY Service Providers to educate the subscribers on the importance of the same. He also urged upon the APY Service Providers i.e Banks and Post Offices under Department of Post to achieve the targets allocated by government by putting in their best efforts.

A video message of Shri Rajiv Kumar, Secretary DFS was played during the occasion. Shri Rajiv Kumar mentioned that Atal Pension Yojana is flagship program of the Government of India under financial inclusion and financial security. The pension coverage in this country is at around 12% and banks and other stakeholder need to work towards greater coverage under the scheme. He also said that DFS is monitoring the progress under the scheme and targets allocated under the scheme to banks should be accomplished. He touched upon the subject of providing a digital platform for APY by PFRDA i.e e-APY. Secretary Shri Rajiv Kumar congratulated the banks on their performance under the campaigns and urged them to continue the work.

While the government has a pension scheme for the BPL persons but the amount is meagre and is not sufficient for old age needs. 9% of the population of India, i.e 110 million people are over 60 years and by 2030 this figure is expected to cross 180 million. The 60 plus age groups is the fastest growing demographic in the country. With increase in longevity of the people, disintegration of the joint family system in India and inflation, there is greater need for old age than ever before. Currently pension benefits are available India basically to the organised sector. Atal Pension Yojana introduced in 2015 by Government of India provides a self- contributory savings pension scheme with guaranteed pension of Rs. 1,000/- to Rs. 5,000/- with a very low contribution by the subscriber. All banks and Department of Post have pushed the product to the interiors of the country. APY has option for increasing the pension amount from Rs. 1000/- to any other amount up to Rs. 5000/- as per the savings capacity of the subscriber, and further allows the spouse to continue the account in the event of the death of the subscriber before the age of sixty years. PFRDA has also been engaging with various State Governments for providing co-contribution under the scheme. With the introduction of e-APY through Aadhaar, the banks will be able to effectively utilise the digital platform for greater coverage. 


PMLA: Banks to now match original IDs with photocopies

The Government has made it mandatory for banks and financial institutions to check the original identification documents of individuals dealing in cash above the prescribed threshold, to weed out the use of forged or fake copies.

The Department of Revenue in the Finance Ministry has issued a gazette notification making an amendment to the Prevention of Money-laundering (Maintenance of Records) Rules.

The new rule now requires the reporting entity to compare "the copy of officially valid (identification) document so produced by the client with the original and recording the same on the copy".

The Prevention of Money Laundering Act (PMLA) forms the core of the legal framework put in place by India to combat money laundering and generation of black money.

The PMLA and its rules impose obligation on reporting entities like banks, financial institutions and intermediaries to verify identity of clients, maintain records and furnish information to Financial Intelligence Unit of India (FIU-IND).

As per Rule 9, every reporting entity shall at the time of commencement of an account-based relationship, identify its clients, verify their identity and obtain information on the purpose and intended nature of the business relationship.

Intermediaries like stock broker, chit fund company, cooperative bank, housing finance institution and non-banking finance companies are also classified as reporting entities.
Biometric identification number Aadhaar and other official documents are required to be obtained by the reporting entities from anyone opening a bank account as well as for any financial transaction of Rs 50,000 and above.

The same is also required for all cash dealing of more than Rs 10 lakh or its equivalent in foreign currency, cash transactions where forged or counterfeit currency notes have been used and all suspicious transactions.

All cross border wire transfers of more than Rs 5 lakh in foreign currency and purchase and sale of immovable property valued at Rs 50 lakh or more also fall under this category, according to the reporting rules.

The Gazette notification said in case the officially valid document furnished does not contain updated address, a utility bill like electricity, telephone, post-paid mobile phone, piped gas or water bill which is not more than two months old can be considered as a proof of address.

Also, property or municipal tax receipt, pension or family pension payment orders issued to retired employees by Government departments, or letter of allotment of accommodation from employer can be considered for the same purpose. 
  
Source:-The Economic Times



Linking your bank account with Aadhaar is mandatory, here's what happens if you don't

Turns out you have to link your bank account with Aadhaar after all. The Reserve Bank of India on Saturday stepped in to strike down news reports that claimed, quoting an RTI reply, it was not necessary to link the 12-digit biometric identification number with bank accounts, saying the directive remained in force under anti-money laundering rules. 

So, the December 31 deadline stays put for now. "The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017 published in the Official Gazette on June 1, 2017," the central bank said a notification. 

Earlier this year, the government had made it mandatory to link bank accounts with Aadhaar. Accounts that are not linked will cease to become operational, it said. 

To comply with the finance ministry directive, banks have already started asking for Aadhaar while opening new accounts and have been giving constant reminders to those who still haven't linked their accounts with the number. 

So considering that the rule to make Aadhaar mandatory for opening new accounts has already been enforced by banks, it would appear that as per current situation, existing account holders will not be given an exemption. Hence, if the government has its way, bank accounts not linked to Aadhaar will cease to become operational. Blocking of one's savings account will obviously lead to huge inconvenience and may well put a stop to your financial life. You don't want to stuck in a situation where your salary is not getting credited to your bank account, you cannot withdraw cash at ATMs, or even swipe your card. 

So make sure you seed your bank account with Aadhaar before the December 31 deadline. 

What happens if I don't and my account gets cancelled? 

Well, you can re-activate your account by submitting the required documents and linking it with Aadhaar. According to the finance ministry directive, "Provided that in case client already having an account based relationship with reporting entities prior to date of this notification fails to submit the Aadhaar number and Permanent Account Number by 31st December, 2017, the said account shall cease to be operational till the time the Aadhaar number and Permanent Account Number is submitted by the client." However, there is no mention on how long it will take to retrieve your bank account once it becomes inoperable. 

Here's a step-by-step guide to check whether your Aadhaar has been linked with your bank account. 

1. Visit the Aadhaar website - www.uidai.gov.in 
2. Click on 'Check Aadhaar & Bank Account Linking Status' 
3. Enter your Aadhaar number and security code. Once submitted, an OTP will be sent to your mobile number registered in the Aadhaar database. 
4. Enter the OTP and click on 'Login' 
5. On successful login, the website shows whether your Aadhaar number is successfully mapped or not. 

You can also check using your mobile phone. 

1. Dial *99*99*1# 2. 
Enter your 12 digit Aadhaar number 
3. Confirm that the digits entered by you is correct 
4. On confirmation, it will show you the bank account linked with Aadhaar 

Points to remember 

1. It will only show you the last bank account that has been linked with your Aadhaar. 
2. If you have multiple bank accounts, you will have to check the status of the same with the bank. 
3. You will be able to use this service only if your mobile number is linked to your Aadhaar. 

Exemption has been given only to small accounts 

Not all types of bank accounts will become un-operational if they are not linked with Aadhaar before the deadline. Small accounts are exempt from this directive as these can be opened even without Aadhaar. 

Source:-The Economic Times

EXPANSION OF CLIENTELE OF POSTAL LIFE INSURANCE (PLI)


NAC meeting this month, likely to recommend hike in minimum pay and fitment factor

The National Anomaly Committee is set to meet to discuss the hike in pay beyond the 7th Pay Commission. The meeting that was scheduled to be held on October 7 was postponed and now the matter is expected to be taken up anytime before the end of this month. The NAC is meeting to decide on the proposal to hike the basic minimum pay for Central Government employees. Although no official date has been given, sources say that the NAC is making all necessary arrangements to meet this month itself.

Declaration of result of PS Gr. B for the year 2012-2016

Till there are number of court cases pending at various courts/CAT in the country and therefore result is further delayed.

LDCE for promotion to the cadre of Inspector Posts (66.66%) departmental quota for the year 2016-2017

It is learnt that vendor is yet not finalized by the Directorate to conduct LDCE for promotion to the cadre of Inspector Posts (66.66%) departmental quota for the year 2016-2017.

In view of above there is no possibility of IPO examination in this calendar year. 

Revision of the monetary limits for handling cases of loss/fraud for conducting the investigation at Divisional/Regional and Circle level



Tuesday, October 17, 2017

Greeting .....

Image result for gif images happy diwali images 

Image result for gif images happy diwali images 

Image result for gif images happy diwali images

ATTACK ON POST OFFICE SMALL SAVINGS SCHEMES : AUTHORIZATION OF NATIONALIZED AND PRIVATE BANKS

To view the notification, please CLICK HERE. 
 

Atal Pension Yojana : Still Scope for increasing pension coverage



Press Information Bureau
Government of India
Ministry of Finance
16-October-2017 16:57 IST

Over 69 lacs subscribers join Atal Pension Yojana with contribution of Rs. 2690 crores

Secretary DFS: Still Scope for increasing pension coverage

Atal Pension Yojana currently has over 69 lacs subscribers with contribution of Rs. 2690.00 crores. Chairman, PFRDA Shri Hemant G Contractor however emphasised the need of increasing the pension coverage in India at a recently concluded conference on Atal Pension Yojana. The conference organised by Pension Fund Regulatory and Development Authority (PFRDA) in the national capital saw participation from all major banks, representatives from NPCI, SCHIL, SIDBI, Access Assist and some major MFIs.

A large section of the society still does not have access to pensions and this is a cause of concern for PFRDA and Government, Shri Contactor said. Congratulating the winners of the contest organised by PFRDA the Chairman said that APY has made progress in covering the intended subscribers but much remains to be done. He mentioned that on an average, a little less than 2% of the eligible population is covered under APY and hence a lot has to be done to provide people a regular access to old age income. He also touched upon the issues of persistence in the APY accounts and asserted that the objective of the scheme is to provide pension and this will only happen if the contribution in the account has been regularly paid. He urged the APY Service Providers to educate the subscribers on the importance of the same. He also urged upon the APY Service Providers i.e Banks and Post Offices under Department of Post to achieve the targets allocated by government by putting in their best efforts.

A video message of Shri Rajiv Kumar, Secretary DFS was played during the occasion. Shri Rajiv Kumar mentioned that Atal Pension Yojana is flagship program of the Government of India under financial inclusion and financial security. The pension coverage in this country is at around 12% and banks and other stakeholder need to work towards greater coverage under the scheme. He also said that DFS is monitoring the progress under the scheme and targets allocated under the scheme to banks should be accomplished. He touched upon the subject of providing a digital platform for APY by PFRDA i.e e-APY. Secretary Shri Rajiv Kumar congratulated the banks on their performance under the campaigns and urged them to continue the work.

While the government has a pension scheme for the BPL persons but the amount is meagre and is not sufficient for old age needs. 9% of the population of India, i.e 110 million people are over 60 years and by 2030 this figure is expected to cross 180 million. The 60 plus age groups is the fastest growing demographic in the country. With increase in longevity of the people, disintegration of the joint family system in India and inflation, there is greater need for old age than ever before. Currently pension benefits are available India basically to the organised sector. Atal Pension Yojana introduced in 2015 by Government of India provides a self- contributory savings pension scheme with guaranteed pension of Rs. 1,000/- to Rs. 5,000/- with a very low contribution by the subscriber. All banks and Department of Post have pushed the product to the interiors of the country. APY has option for increasing the pension amount from Rs. 1000/- to any other amount up to Rs. 5000/- as per the savings capacity of the subscriber, and further allows the spouse to continue the account in the event of the death of the subscriber before the age of sixty years. PFRDA has also been engaging with various State Governments for providing co-contribution under the scheme. With the introduction of e-APY through Aadhaar, the banks will be able to effectively utilise the digital platform for greater coverage.