Seventh Pay Commission: Modi Govt ready to implement ‘salary hike’ recommendations

Giving the hint that Centre is all set to implement Seventh Pay Commission, Government said that ‘salary hike’ will have little impact on inflation. This was stated in the Economic Survey tabled in the Parliament on Sunday. Read more: 7th Pay Commission: Good News! ‘Review report’ to be submitted likely by April-end “For most of the current fiscal year, inflation has remained quiescent, hovering within the RBI’s target range of 4-6 per cent. But looming on the horizon is the increase in wages and benefits recommended for government workers by the Seventh Pay Commission (7th PC).

Highlights of Union Budget 2016-17

Affirming that the economy is right on track, Finance Minister Arun Jaitley presented the Union Budget for 2016-17. Citing that the CPI inflation has come down to 5.4% from 9 plus, he said it is huge relief for the public. 

Tax

Infrastructure and agriculture cess to be levied. 

Excise duty raised from 10 to 15 per cent on tobacco products other than beedis 

1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh. 

SUVs, Luxury cars to be more expensive. 4% high capacity tax for SUVs. 

Companies with revenue less than Rs 5 crore to be taxed at 29% plus surcharge 

Limited tax compliance window from Jun 1 - Sep 30 for declaring undisclosed income at 45% incl. surcharge and penalties 

Excise 1 per cent imposed on articles of jewellery, excluding silver. 

0.5 per cent Krishi Kalyan Cess to be levied on all services. 

Pollution cess of 1 per cent on small petrol, LPG and CNG cars; 2.5 per cent on diesel cars of certain specifications; 4 per cent on higher-end models. 

Dividend in excess of Rs. 10 lakh per annum to be taxed at additional 10 per cent. 

Tax rebate under Section 87A increased to Rs.5000

Union Finance Minister Shri Arun Jaitley spoke on the Key Reform Measures in his Budget speech 2016-17

Increased relief for middle-class tax-payers

• by raising the ceiling of tax rebate under Section 87A to Rs. 5,000 for individuals with income less than Rs. 5 lakhs
• and by raising the limit of deduction of rent paid under section 80GG to Rs. 60,000

1. The Government is firm on its course towards fiscal consolidation without compromising on its development agenda. 3.5% fiscal deficit is targeted for FY 2017.

Important Announcements made by Union Finance Minister Shri Arun Jaitley in his Budget speech 2016-17

Important Announcements made by Union Finance Minister Shri Arun Jaitley in his Budget speech 2016-17

1. Big Focus on Agriculture and Farmer’ Welfare

(i)                 Farmer’s income to be doubled by 2022.

(ii)               28.5 lakh hectares will be brought under irrigation under Pradhan Mantri Krishi Sinchai Yojana.

(iii)             89 irrigation projects, requiring Rs. 86,500 crore in next five years, to be fast tracked. 23 of these projects to be completed before 31st March, 2017.

(iv)             Dedicated Long Term Irrigation Fund will be created in NABARD with initial corpus of Rs. 20,000 crore.

Rail Budget 2016 Updates

Rail Budget 2016 Highlights

Railway Minister Suresh Prabhu presents “Rail Budget 2016” in Lok Sabha.

1:13 pm: Suresh Prabhu concludes his rail budget speech.

1:15 pm: No hike in railway fares.

1:10 pm: The companies owned by Railways to come under a holding company.

1:09 pm: Two dedicated freight corridors by 2019.

1:07 pm: I’m setting aside Rs. 50 crore for providing innovation grants to start-ups.

1:04 pm: Drones to be used for remote monitoring of ongoing projects.

Budget 2016 income tax expectations: 7th Pay Commission, OROP add to Arun Jaitley problems

Budget 2016: The burden of expectations on FM Arun Jaitley is huge and one cannot forget that the higher spending on account of implementation of one rank one pension scheme (OROP) for armed forces and the 7th Pay Commission recommendations are likely to make it even more challenging to meet these expectations. The gains on account of Laffer Curve should be kept in mind while bringing about the changes: simplification and clarity in tax laws will undoubtedly improve tax compliance thereby increasing the tax revenue. Whether FM Arun Jaitley succeeds in living up to all these expectations and implements measures to spur growth and stability remains to be seen

Budget 2016: Expectation from budget with respect to Minimum Alternate Tax - Removal or significant reduction in the rate of Minimum Alternate Tax (MAT) will put significant cash flow in the hands of taxpayers to make much needed investments. Today, in view of the Dividend Distribution Tax (DDT), no dividends can be paid without tax of almost 21% by the companies. In fact, with DDT, the aggregate tax rate on a company, including surcharge and education cess could be as high as 47% to 51% if no special exemptions are available. This is far higher than the stated 30% tax rate on companies. If corporate tax rate is to be reduced to 25% over the next 3 years and the investment and profit linked exemptions and deductions are to be phased out, then there is a very good case to phase out the MAT and ultimately scrap it

Different Ways To Open Windows Task Manager

Task Manager helps in obtaining info a few pc performance, running applications, processes and a lot of. In short, you’ll use the handy Windows tool to begin sure programs or finish them. it’s a lot of of a troubleshooting tool for beginners ,which is variable into multiple tabs. every tab is related to a selected class like the running applications, running processes, Windows services, the computer’s performance, network utilization, and also the users that area unit presently logged in. If you’re connected to a network, you’ll additionally use Task Manager to look at network standing and see however your network is functioning.

There ar multiple ways in which ar there to open task manager in windows. Lets see the various ways in which to Open Windows Task Manager.

7th CPC : Empowered Committee likely to submit report by April-end

There is good news in the store for central government employees who are waiting for the implementation of Seventh Pay Commission. Reportedly, review report will be submitted to Finance Ministry at April end.

Pay commission Sources say that P K Sinha headed Empowered Committee of Secretaries will submit its report to Finance Minister Arun Jaitley in April end.

At the moment, implementation Cell of the Pay Commission is looking into the recommendations. After processing the report, it will be sent to Empowered Committee in April.

Solution for Wrong Account Openings in DOP Finacle

India Post Finacle Solution for Wrong Account Openings

In DOP Finacle, there are many cases where the accounts are opened wrongly in different aspects. Some of them are discussed below

Step By Step Procedure in Detail

Case 1: Account opened with wrong CIF 

1. Invoke menu HCCA

2. Choose function as MODIFY

3. Enter account no

4. Click on GO (F4)

5. Enter the correct CIF by Deleting the existing CIF

6. Select Modify A/C Name as YES (Mandatory)

7. Choose appropriate Reason code

8. Click on SUBMIT (F10)

9. Verify account number using same menu in supervisor login.

Roll out of Internet/Mobile/SMS Banking in DOP Finacle

Roll out of Internet/Mobile/SMS Banking

Copy of eMail dated 18.02.2016 from Director (CBS) to all Circle Heads
From: Director (CBS)
Sent: 18 February 2016 17:46

Subject: Roll out of Internet/Mobile/SMS Banking 

Respected Sir/Madam

I am directed to enclose Standard Operating Procedure (SOP) of Internet/Mobile / SMS Banking for circulation to all CBS Post Offices. Facilities available through these channels are also attached. These need to be pasted on the Public Notice Board of all CBS Post Offices. 

It is requested to circulate these guidelines and give them wide publicity so that our staff/agents and customers may start using these facilities. 

With regards,

Sachin Kishore

Director (CBS)

Sansad Marg,

Dak Bhavan

Facilities in Internet Banking

Customer has to enter:- https://ebanking.indiapost.gov.in

Find SOL ID of Other Post Offices in DOP Finacle

There are many ways to find the SOL ID of the other POs in DOP finacle. Some of them are given below.

Step By Step Procedure in Detail - India Post Finacle Guide

1st Way:

1. Invoke HFTI menu

2. Delete the SOL ID in the SOL ID field and enter the pincode of the post office for which SOL ID has to be known.

3. Click on the searcher beside the SOL ID field.

4. System will display the SOL ID of that particular post office if it is migrated to finacle.

Problems in verification of SB A/C Closure in DOP Finacle

In some cases, System will allow the SB closure at counter PA login but it will show some error when we try to verify that closure in supervisor login even though there are no interest credit accounts linked to that SB A/C and also days after the closure of the accounts linked to the SB account.

In this case Current year interest will be generated for that SB account but the account closure verification shows some error.

Solution:

Step By Step Procedure in Detail

1. If the system shows an error while verifying the closed SB account, do the following procedure

2. Cancel the closure in Supervisor login using HCAAC menu.

a) First withdraw total amount from the SB account to make the balance ZERO.

b) Close the account using HCAAC menu

c) Try to verify the closure in the same menu in supervisor login.

d) If the system still shows an error, do the following procedure

SOLUTION FOR RD ACCOUNT CLOSURE RUNTIME ERROR IN DOP FINACLE

While closing the RD accounts ( or any other accounts) we generally face the error "Runtime error has occured".

When we close the account i.e., when we click on submit then the system will throw the error

Solution:

In order to solve the above problem the user has to check the following before attempting the closure for RD ( or any other schemes) they are listed below below for reference and kindly follow them.

RD Closure error - Withdrawal amount exceeds the difference between the principal and lien amount in DOP Finacle

When an RD account is closed we get the error sometimes as " Withdrawal amount exceeds the difference between the principal and lien amount "

Reason:

1.The above problem arises when RD loan principal amount is fully paid before migration i..e., If the loan account is opened before migration ( in Sanchay Post) and the loan amount is fully paid in sanchay post.

2.In this case Loan account number will not be generated during migration but for loan interest LIEN will be marked for the corresponding RD account.

Solution:

Problems in verification of Certificates Issue in DOP Finacle

In DOP Finacle, For Issuing certificates through POSB cheque, we will enter the cheque number while issue without checking whether that cheque book has been issued to that particular SB account or not. In such cases system will allow the issue at counter PA login but it will say Fish off at supervisor login.

Solution:

For certificates issue, different account number will be allotted for each certificate even though they are having same registration number. Entered SB cheque number will be allotted to the very first certificate of a particular registration number. We can distinguish the first and last certificates by the account numbers as they are in ascending order. Before proceeding, verify all other transactions for clear view.

Step By Step Procedure in Detail 

1. Invoke HFTI menu

2. Enter Entry user id of the counter PA

3. Select Transaction status as Entered

4. Click on GO (F4)

Problem with Minor to Major Conversion in DOP Finacle

By Default, for accounts migrated from Sanchaya Post to DOP Finacle, Date of birth of all account holders in CIF IDs including minors is 01/07/1960. For minor accounts status will be minor and date of birth is 01/07/1960 by default. So, the software will not allow us to change the date of birth of the minor directly. So, Follow the below given procedure in order to change the date of birth of the minor.

Step By Step Procedure in Detail 

1. Invoke CMRC menu
2. Function – Modify
3. Enter the CIF ID of the minor
4. Click on GO (F4)
5. Select Minor as NO.
6. Click on SUBMIT (F10)
7. Verify the CIF ID in the same menu in supervisor login.
8. Again Invoke CMRC in PA login
9. Function – Modify
10. Enter the CIF ID of the minor
11. Click on GO (F4)
12. Enter the Date of Birth of the Minor who has become major
13. Click on SUBMIT (F10)
14. Verify the CIF ID in the same menu in supervisor login.
15. Then use corresponding account modification menus and change the mode of operation to self (012)

India’s Freedom 251 is the worlds cheapest smartphone at $3.8 (Rs 251)

A couple of years ago Indian automakers were in news for the Tata Nano car, which was the most affordable car when launched. Now it seems that the country will be in news again for the most affordable smartphone, the Freedom 251.

Freedom 251 smartphone at just $3.8

Ringing Bells is a Noida based company that has launched Freedom smartphone priced at Rs 251 (less than $4) and this move is aimed at creating ripples in the Indian smartphone industry.

The entry price for the smartphones has been plunging in the recent years thanks to the fierce competition from the Chinese OEM’s and the very fact that smartphone manufacturers shifted their focus towards a volume based approach rather than a high margin approach.

Create, burn, and extract ISO files with ISO Workshop

If you tend to get in involve with ISO a lot along with burning them to DVDs, then chances are you might have already found the perfect program. However, for those who are still on the hunt, we’d like to recommend something called ISO Workshop for Windows PC, which lets you create, burn and extract ISO files. But before jumping in, we should warn you that while this software is free, it is ad-supported.

ISO Workshop review

Let’s talk about ISO Workshop to determine if it is good for you.

The size of the file is 2.7MB, which means it shouldn’t take long to install once on your system. We like the fact that it doesn’t attempt to trick us into downloading third-party software, so that’s a big plus. We also didn’t come across a single advertisement, but that might have much to do with our location.

Once the program has been installed and launched, users should see a simple user interface with five options laid out before them, as shown in the image above:

Orders Issued By DoP To Increase The Bandwidth In The Required Offices

NSC/KVP certificates Account modification in DOP Finacle

Every certificate has its own account number. In order to modify the data pertaining to a registration number, we need to modify all the certificates having that registration number. 

Step By Step Procedure in Detail 

1.Invoke the menu CSCACM for modification after verification and Invoke CSCOAACM menu for modification before verification

2.Function - Modify
3.Enter the A/C number (See Note2)
4.View the signature if necessary(F9)

5.Click on GO(F4)

6.Submit after the modification(F10)

7.Verify the A/C number in the same menu in supervisor login to complete the modification process.

NSC/KVP certificates printing after issue in DOP Finacle

After issuing the certificates using the menu CSCOAAC, we have to print the certificates using HDRP menu. Only after the printing of certificates, Individual certificates are allocated to that particular registration number and this is process is given clearly in this article.

Step By Step Procedure in Detail

1.Invoke HDRP menu

2.Enter CIF ID of the Customer and Scheme code (Click on the searcher beside the scheme code)

7th CPC soon, may see double pay percentage hike : ZEE news

Central government employees, who called the recommendations of the 7th pay commission as ‘total rubbish’ and ‘not worth the paper it was printed on’, may be in for some good news.

Empowered Committee of Secretaries, who are processing the recommendations of 7th Pay Commission (7thCPC), are likely to double the percentage of pay hike recommended by the pay commission.

According to sources, the central government employees will get a salary hike of around 30 percent on the minimum basic pay, much more than 23.55 percent as recommended by the 7th pay commission in November 2015.

NSC/KVP Certificates pledging/pledge releasing in DOP Finacle

Step By Step Procedure in Detail 

PLEDGING:

1.Invoke HAFSM menu

2.Function - Freeze
3.Enter A/C ID or CIF id
4.Enter Freeze Reason Code - PLEDG
5.Enter the Department to which the customer is pledging the certificates
6.Click on GO(F4)
7.Select the required A/C numbers if we enter the CIF id in Step 3
8.Click on SUBMIT(F10)
9.Verify the transaction in the same menu in supervisor login

NSC/KVP Certificates Issue in DOP Finacle

Step By Step Procedure in Detail 

1.Invoke CSCOAAC menu

2.Select Product Type NSC8/NSC9/KVP14
3.Enter CIF ID
4.Click on GO(F4)
5.Enter Mode Of operation (Self or Joint or Minor)
6.Enter Total Deposit Amount
7.Select the Denomination Amount According to the Deposit Amount
8.Enter number of units
9.Click on ADD NEW
10.Enter Transaction Details Cash/ Transfer
11.For Transfer, Enter the Debit A/C ID
12.Select the Agent if any
13.Enter Related Party 2 Details (For Joint and Minor Accounts)
14.Enter the Nomination Details if any.
15.Click on SUBMIT(F10)
16.Note Down the Registration number and verify the same in supervisor login using CSCOAACV menu.
17.Note the A/C IDs and CIF on each certificate according to the certificate number while printing the certificates.

TD Re-Deposit procedure in DOP Finacle

When a customer approaches the post office after the maturity of  any TD account and if the term is nearly one year, then instead of giving PMI to the customer, we can re-deposit the TD account from the date of maturity with the TD interest rate.

Step by step procedure for TD Re-Deposit in DOP Finacle

UCR TRANSACTION IN DOP FINACLE FOR EXCESS CASH FOUND AT COUNTER

COUNTER PA LOGIN

1.Invoke CTM menu
2.Function - ADD
3.Select Transaction Type - Deposit
4.Click on GO(F4)
5.Enter Sundry Account of SB (SOL ID + 0324)
6.Enter the Amount (UCR CASH)
7.Enter Remarks : Cash Found Excess on DD/MM/YYYY
8.Select Option - Partitioning Details
9.Enter Partitioning A/C ID - Teller ID
10.Click on SUBMIT(F10)
11.Note Down the Transaction ID.

How to Hide Data on your Smartphone

Your smartphone is your personal device which stores many of your personal files and data. There may be several reasons you would want to hide your data which includes private photos, videos and messages. If you want to hide a file from prying eyes on your smartphone, then it’s incredibly important that you can learn some methods for hiding files or folders so that you can properly store and sort files as needed.

Without typing too much, let us get down to business. The only method we will discuss today is  Using Third-party Tool or App, hope you will enjoy it…

Using Third-party Tool or App

The only way which these files will be able to be found is through a direct search within the file manager. However, anyone with some tech knowledge will be able to see your hidden data using the file manager.

Best Smartphone Buying Guide

Not sure where to start in your quest for a new phone? Whether you’re seasoned buyer or are looking to buy your first smartphone or you want to buy a new phone? If you’re looking for the best smartphone of 2016, you’ve come to the right place. We will guide you through the hottest mobile phones of the year to save you time when you go to your local phone shop.

We are now at the point where most smartphones are good, but it is not necessarily easy to find a phone that is good for your specific needs. Maybe yo are into photography and want your pictures to get the most likes, or you are trying to be more productive away from the office and want to leave your laptop behind. Or maybe you just want an affordable phone you can feel confident giving to your child.

Implementation of 7th Pay Commission to exert pressure govt's fiscal finances: Report

According to the global financial services firm, the government is likely to meet its fiscal deficit target for the fiscal but may settle for a higher fiscal deficit target of 3.8% for 2016-17.

Implementation of the 7th Pay Commission recommendations is likely to exert pressure on the government's fiscal finances and inflation trajectory going forward, says a Deutsche Bank report.

According to the global financial services firm, the government is likely to meet its fiscal deficit target for the fiscal but may settle for a higher fiscal deficit target of 3.8% for 2016-17.

7th CPC : Secretaries panel may increase the hike recommended

Unconfirmed report. Reader discretion advised.

 

There is good news for the central government employees who are waiting for the implementation of Seventh Pay Commission. According to reports, the percentage of pay hike recommended by the pay commission may be doubled.

According to a Zeenews report, "Empowered Committee of Secretaries processing the recommendations of 7th Pay Commission(7thCPC) in an overall perspective, are likely to double the percentage of pay hike recommended by the pay commission.

Close of SSA Account due to Wrongly Opened in Dop Finacle

As you know there is no separate Menu/Command for SSA account Open/Deposit/Close. We use CPPFAO for open the account and CTM for deposit the amount time to time. Now what can we do when we open SSA account wrongly and have to close this account.  There is no command for closing the SSA Account in Finacle. But temporary solution is given here to close the SSA Account.

HCAAC is used for closure SSA account due to wrongly opened. The procedure is given below.

• Menu Shortcut - HCAAC
• GO
• The following screen is displayed. 

Interest Rates for Small Savings Schemes, may be reduced by the Government

Interest rates on small savings schemes, except the ones for the girl child and senior citizens, could be reduced by 25 to 50 basis points (bps) with effect from April 1.

The cumulative corpus of National Small Savings Fund is projected to rise to Rs 9.59 lakh cr after accretion of Rs 52,000 cr in 2015-16. (Reuters)

Interest rates on small savings schemes, except the ones for the girl child and senior citizens, could be reduced by 25 to 50 basis points (bps) with effect from April 1. Henceforth, the interest rate would also be reset on a quarterly basis instead of annual basis. An official announcement in this regard is expected in a day or two.

Share any type of files with ShareByLink file sharing tool for Windows PC

Sharing files with family and friends is something we do on a regular basis, especially these folks are far away. Now, it is not hard to find a program that can aid in sharing files since the web is filled with them. Today though, we’re going to talk about one of the newest kids on the block. This program is called ShareByLink, and it is all about sharing any type of file with anyone, and they do not need to have the same program installed. The uploader just needs to copy and share a provided link to the next party to get the download up and running.

ShareByLink file sharing tool

Let’s get down and dirty with this program to see if it is worth your precious time.

ShareByLink’s file size is just little over 13MB, which came as a surprise since the program doesn’t store the uploaded file, and the fact that it is just a simple looking thing with limited features.

Pay Commission: Boon Or Bane?

The effect of the OROP and the 7th Pay Commission award may not be as worrying and negative as was initially feared. How should the government factor it into Budget 2016?

The Union budget 2016 is being drafted in the backdrop of a major development, which will not only influence the Budget numbers but will also have an impact on the Indian economy as a whole.

The government has agreed to fulfill a long-lasting demand of ex-servicemen on one-rank-one-pension (OROP). In its report submitted to the Government, the Seventh Central Pay Commission has also recommended the same structure for non-services pensioners as well. The Pay Commission has proposed an increase of 23.55 per cent in the pay packet (salary and allowances) of central government employees and pensioners, which will become effective from 1 January 2016. The pay-out is expected in financial year 2016-17.