New Series of Coins with the Rupee Symbol to be issued by Govt. of India

Recommendations of Technology advisory Group for Unique Projects (TAGUP) Accepted in Principle and new Series of Coins with the Rupee Symbol to be issued by Govt. of India.

Some additional measures for good governance have been proposed in the Union Budget 2011-12. While presenting the Union Budget the Finance Minister Shri Pranab Mukherjee said in Lok Sabha that Technology Advisory Group for Unique Projects (TAGUP) has submitted its report and its recommendations have been accepted in principle.

The Finance Minister Shri Mukherjee also informed the house that the government hasapproached Unicode Standards Authority for inclusion of the Indian Rupee Symbol in international standard. A new series of coins carrying this symbol will also be issued shortly.

Press Information Bureau  Government of India Ministry

25 paise coins to become history from June 30

The Reserve Bank of India will withdraw 25 paise coins and those of lower denomination from the market starting June 30. These coins will not be in circulation and can't be used as legal tender for payment.

RBI in a press statement said that those who have these coins can exchange them for their worth at 41 banks across the country. The banks where such coins can be exchanged are:

Allahabad Bank , Andhra Bank , Bank of Baroda , Bank of India, Bank of Maharashtra , Canara Bank , Central Bank of India , Corporation Bank , Dena Bank , Indian Overseas Bank , Indian Bank , Oriental Bank of Commerce, Punjab and Sindh Bank, State Bank of India , Syndicate Bank , UCO Bank , Union Bank of India , United Bank of India , Vijaya Bank , State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore , State Bank of Patiala, State Bank of Travancore, IDBI Bank Ltd , ICICIBank Ltd , Tamilnad Mercantile Bank Ltd, Dhanlaxmi bank Ltd, The Federal Bank Ltd , The Catholic Syrian Bank Ltd, The HDFC Bank Ltd , The Jammu and Kashmir Bank Ltd, The Karur Vysya Bank Ltd , The Laxmi Vilas Bank Ltd, ING Vysya Bank Ltd , Standard Chartered Bank , City Union Bank , Axis Bank Ltd and Karnataka Bank Ltd.

source :-Economic Times NEWS

MEGHDOOT AWARD

Memo No : 101-1 / 2011-SPB-II Dt. 14.06.11

The following Officials / officers have been selected for Meghdoot Awards for the year 2009 & 2010.

Sl.	Category Name	For 2009	For 2010
01.	All GDSs	Sh.Ramesh Duarah, GDS BPM, Assam Circle	Sh.Yashmel Singh GDS BPM, Himachal Circle
02.	Gr D / MTS including Postman/Cash Overseers /Mail Overseers/  Mail  Guards / Mailmen etc	Smt.Swarna Devi, Postman J & K Circle	Sh.Yadati Murali Krishna  Prasad, Postman, Andhra Circle
03.	PA / SAs	Sh.Yoginder Singh Kanwar, PA, Himachal Circle	Sh.Ranjit Baishya, PA, Assam Circle
04.	General Line Supervisor upto HSG-1	Smt.N.Anuradha, SA, Karnataka Circle	Sh.Bishnupada Dash, SPM Orissa Circle
05.	IPs / ASPs	Sh.S.N.Dhoundiyal, ASP, Delhi Circle	Sh.Ravi Prakash Dewa, ASP, Gujarat
06.	Gr B & Gr A upto STS	Smt.R.P.Chitra Devi APMG BD, Chennai Tamilnadu Circle	None
07.	Technology Excellence (upto STS)	Sh.Amir Kharkongor PA, North East	Sh.Korrapati Ravi Bahu,  ADG,  Dte
08.	Best Women Employee (all upto Gr B)	Smt.S.Jeyarubah Ruth Ebenezer, PA Tamilnadu Circle	Smt.Chintapalli Radhakrishna Veni,  Mail Overseer Andhra

Recommendation of Shyamala Gopinath committee on NATIONAL SMALL SAVINGS FUND

A government panel, set up to review the small investment schemes of post offices and banks, has recommended discontinuation of the popular Kisan Vikas Patra, among other changes.

The committee has also proposed a 0.5% raise in the interest rate for post office savings account to 4%, reduction in the maturity periodof National Savings Certificates (NSCs) to five years from six, and raising the annual contribution limit in Public Provident Fund (PPF) toRs 1 lakh, from the current Rs 70,000.

The panel, headed by Reserve Bank of India (RBI) deputy governor Shyamala Gopinath, submitted its report to the finance minister on Wednesday,a finance ministry statement said.

The proposals are in line with the suggestions made by experts, the RBI and commercialbanks to ensure transparency, have market-linked rates, and reform the small savings plans offered by the government.

If the proposals are accepted, it could lead to big changes in the way the National Small Savings Fund (NSSF) is managed and the returns it generates for investors.

The finance ministry had formed the panel after it accepted the recommendations of the 13th Finance Commission to examine all aspects of the National Small Savings Fund.

To address the need for a long-term investment instrument, it has recommended introduction of a 10-year NSC scheme. The panel has also adviced benchmarking of interest rates on other small savings schemes to rates of government securities of similarmaturity with positive spread of 25 basis points with two exceptions.

The first is 100 basis points spread for senior citizens’ schemes, keeping in view its social objective, and the second is 50 basis points spread for the recommended 10-year NSC, keeping in view of its higher illiquidity.

These rates may be notified by the government afresh at the beginning of every financial year based on the average yields on government securities in the previous calendar year.

Bankers say the recommendations are in the right direction. “We will have tostudy them in detail, but it certainly looks like a first step inthe right direction,” said RK Bansal, executive director, IDBI Bank.

The committee has proposed that the mandatory component of investment of net small savings collections in state government securities be reduced to 50%. States can access up to 80% of NSSF for financing their annual expenditure.

The funds are given as a 25-yearloan carrying 9.5% interest, higher than rates at which states can borrow from the market.

The balance amount could either be invested in central government securities or could be on-lent to other states on basis of requirement or could belent for financing infrastructure projects requiring long-term finance, according to the panel.

It has been proposed that the tenure of these loans may be reduced from the current 25 years, including moratorium of 5 years, to 10 years.

Source:-The Economics Times

Expected Dearness Allowance from July, 2011

The Government has released the price index for the last three months.

Jan-11    188      2127          177.25        61.49       53.12 53

Feb-11    185     2142           178.50       62.74      54.20 54

Mar-11   185     2157           179.75        63.99      55.28 55

As per this, an increase from 51% to 55% is expected till March 2011. It may be increased as we wait for the next three months calculation on Index prices. If it continues to be this, the Dearness Allowance may be 56% to 57%.

If the Government successfully maintained the price increase and the AICPIN falls, the Dearness Allowance may be restricted to 54% or 55%.

On the price raise of petrol and diesel or cooking gas, automatically the price index also increase, in this condition the Dearness Allowance may be increased upto 57% to 58%.

Limited Departmental Competitive Examination for Postmaster Grade – I – Crucialdate for deciding the qualifying service for the Examination – regarding

No: 4-08/ 2011-SPB-II

Government of India

Ministry of Communications and IT

Department of Posts

Dak Bhavan, Sansad Marg

New Delhi – 16, Dated 25.05.2011

To,

All Chief Postmasters General

Sub: Limited Departmental Competitive Examination for Postmaster Grade – I – Crucial date for deciding the qualifying service for the Examination – regarding

Sir/ Madam,

I am directed to refer to Directorate's letter No: A-34012/ 3/ 2011-DE, dated 13.04.2011 regarding conduct of Postmaster Grade I Examination, 2011 to be held on 12.06.2011 for the existing vacancies in Postmaster Grade-I.

2. Clarification has been sought by certain Circles regarding the crucial date for assessing the eligibility of Postal Assistants for appearing in the Postmaster Grade-I Examination, 2011 to be held on 12.06.2011.

3. The matter has been examined in the Directorate. As per the Directorate's order No. 13-2/2010-PE.1 dated 25.11.2010, the General line posts would be deemed to have been designated as Postmaster Grade-I, Postmaster Grade-II and Postmaster Grade-IIIwith effect from the dates those are filled up. Therefore it has been decided by the competent authority that the crucial date for assessing the eligibility of the candidates for the purpose of Postmaster Grade-1 Examination 2011, to be filled up on the basis of Limited Departmental Competitive Examination would be the closing date for dispatch of the applications by nodal officers to CMC, ie.18.05.2011. Such Circles, who have prescribed the crucial date other than 18.05.2011, are advised to issue another circular calling for the applications fromonly such officials, who have become eligible during the period 01.01.2011 to 18.05.2011, by asking them to apply by 2nd June, 2011. Due to paucity of time, the Circles on receipt of applications shall issue hall tickets to the eligible candidates to appear in the examination after consulting the CMC telephonically regarding the Roll Number(s) to be assigned and the venue for examination. It should be immediately followed by a written communication to CMC indicating the names, Roll Numbers so assigned alongwith a copy of the application submitted by the candidates. In case of any contingency, the Circles may contact DDG(RP) [Tel. No: 23096101]

4. Further, according to the Dept of Personnel & Training OM No: 22011/3/98-98-Estt. (I) dated 17.09.1998, the crucial date for determining eligibilityof officers for promotion in case of financial year-based vacancy year would fall on January 1st immediately preceding such vacancy year, the first ofthe vacancy year, ie. January 1st itself would be taken as the crucial date irrespective of whether the ACRs are written financial year wise or calendar year wise. As such, the crucial date for determining eligibility of Postal Assistants for appearing in the Postmaster Grade-1 Examination to be conducted in the subsequent years ie during the year 2012 and thereafter would be 1st January of the year, to whichthe vacancies pertain to.

Yours faithfully,

Sd. B P Sridevi

Director (Staff)

9 post offices to get ATMs soon in Tamilnadu

CHENNAI: The Department of Posts will soon set up automated teller machines (ATM) in Chennai GPO and eight head post offices in the city and surrounding areas for its savings bank customers.

Officials of the postal department said that steps are being taken to earmark sites measuring 80 sq. ft. at the post offices. The eight HPOs are: Anna Road, T.Nagar, Mylapore, St.Thomas Mount, Park Town, Ambattur, Avadi Camp and Tambaram.

Post Master General (Chennai City Region) M. S. Ramanujam said that measures are under way to computerise the transactions of the savings account as part of the department's move to provide core banking solutions. The civil work for establishing the ATMs would begin in about two months. Customers would be able to make use of the facilities by the endof the current fiscal.

Nearly 10 lakh account holders in the nine post offices are expected to benefit from the 24-hour ATM facilities. Once the facility is in place, customers need not spend time waiting at the counters to withdraw cash. With the postal banking services popular among senior citizens, the ATMs would be immenselybeneficial to them.

This would also help in cutting down the transaction cost for the department. The Department of Posts is in the process of floating tender seeking bids from ATM equipment suppliers as the facility is being introduced in various postal circles in many States.

Officials of the postal department said that the ATMs to be installed in the HPOs could also be eventually used by the customers who hold accounts with banks. The facilities would be governed by the guidelines prescribed by the Reserve Bank of India.

Such ATM facilities would be set up in the nearly 100 head post offices across the State. The department also plans to extend the service in other post offices across Tamil Nadu in a phased manner depending on the customer response, the officials added. Source: The Hindu

PAYMENT OF DEPOSITS/CERTIFICATES BELONG TO MINORS- A CLARIFICATION REGARDING.

SB ORDER NO. 8/2011

F.No.113-01/2011-SB

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001, Dated: 25.05.2011

To

All Heads of Circles/Regions

Addl. Director General, APS, New Delhi.

Subject: - Payment of deposits/certificates belong to minors- a clarification regarding .

Sir / Madam,

The undersigned is directed to say that this office is in receipt of complaints regarding insistence of issuing cheques of maturity/premature value of deposits/certificates in the name of minors instead of guardians by some post offices when at the time of payment, the minor not attained majority causing hardship to the depositors/certificate holders.

2. This issue has been examined in detail in this office and based on the provisions made in Section 10 of the Government Savings Bank Act 1873 and Section 5 of the Government Savings Certificate Act 1959, following clarification is being issued:-

In case of accounts:-

Payment of deposits to minor or guardian:-

(a) In case of Minor Account opened by guardian on behalf of minor where at the time of payment minornot attained majority, all payments should be made to the guardian after taking prescribed certificate. In case, minor attained majority before date of payment, prescribed procedure for conversion of account from the name of guardian to the name of minor who attained majority should be followed andpayment should not be made to the guardian.

(ii) In case of individual accounts opened by minors of the age of 10 years or above in Savings/RD/TD or MIS schemes, all payments should be made to the minor himself who made the deposits irrespective ofminor attained majority or not.

In case of certificates:-

Payment of certificates to minor or guardian:-

(i) In case of certificates purchased by guardian on behalf of minor, where at the time of payment, minor not attained majority, all payments should be made to the guardian after taking prescribed certificate. In case, minor attained majority before date of payment, prescribed procedure for conversion of certificate from the name of guardian to the name of minor who attained majority should be followed and payment should not be made to the guardian.

(ii) In case of certificates applied by minor and issuedin the name of minor, all payments should be made to the minor himself who applied for issue of certificates irrespective of minor attained majority ornot.

3. It is requested to bring this clarification to the notice all post offices for strict compliance.

4. This issues with the approval of DDG(FS).

Yours faithfully,

(Kawal Jit Singh)

Assistant Director (SB)