............ Have a nice day............

Wednesday 30 November 2016

National Anthem Before Movie, Rules Supreme Court. Citizens 'Duty-Bound' To Show Respect



The national anthem must be played in cinemas before movie screenings and all exits will be shut during that time, the Supreme Court ruled on Tuesday. The court stressed that everyone should rise for the anthem, with the national flag on the screen, because citizens "are duty-bound to show respect to the national anthem which is the symbol of the constitutional patriotism."

The idea, said the court, of "any different notion or the perception of individual rights...is constitutionally impermissible."

In a ruling that raised eyebrows, the court also said while the anthem is playing, all theatre exits should be closed - which instantly raised questions about emergencies like a fire. Lawyers say the movement of people in and out of the hall in the middle of the anthem is interpreted as disrespect.

January Salary Of Central Employees To Follow Higher Allowances: FinMin


Central government employees’ salaries for January will be in line with the higher allowances, a top official of the finance ministry today told The Sen Times on condition of anonymity.

When asked whether the arrears would be paid too, he said, “This depends on the cabinet. If the cabinet gives the nod higher allowances with retrospective effect from August 2016, the arrears will be paid.”
“The government faces severe attack for cash crunch because of demonetisation. But the situation will return to normalcy after the deadline of December 30 for deposit of invalid Rs 500 and Rs 1,000 notes.”

Tuesday 29 November 2016

Instructions regading No Limit for Withdrawals in Post Offices as per RBI relaxation


Respected Sir/Madam,

Please find attached the RBI Notification regarding relaxation in the limit of withdrawal of cash from bank deposit accounts. The instructions of RBI stipulates that withdrawals may be allowed for deposits made in current legal tender notes on or after 29.11.2016 beyond the current limits preferably,available higher denomination bank notes of Rs. 2000/- and 500/- are to be issued for such withdrawals.  



This instructions of RBI is applicable only for those depositors who deposits valid legal tender notes and seeking withdrawal, for whom the current limit of (Rs. 24000/-) is relaxed. 

The following are the procedure to be followed:-
1.    The withdrawal exceeding the current limits may be allowed only in the home SOL of the account holder.
2.    The Finacle application should validate the withdrawals exceeding the limit for those depositors who deposit the current legal tender notes on or after 29.11.2016. For this purpose a Patch needs to be deployed.
3.    The counter PA should maintain a separate register for entering details of such deposit transactions.The proforma of the register is as follows:-

Monday 28 November 2016

Withdrawal of cash from bank deposit accounts - Relaxation

Withdrawal of cash from bank deposit accounts - Relaxation




RBI/2016-17/163
DCM.No.1437/10.27.00/2016-17
November 28, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks /
Regional Rural Banks / Urban Cooperative Banks/
State Cooperative Banks/ District Central Cooperative Banks

Dear Sir,

Withdrawal of cash from bank deposit accounts - Relaxation

It has been reported that certain depositors are hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts.

Demonetisation windfall: govt may reward tax payers


With demonetisation raising revenues for the government, Budget for 2017-18 may see an increase in income tax exemption limit for individual tax payers. It may also see a reduction in income tax rates.
“The monetary gains will be utilised for infrastructure development, but a part of it will also be used to spur demand in the economy and one way will be to give tax breaks to bonafide tax payers,” a top official said.
It may even be a Rs 5 lakh flat tax exemption for individual tax payers, and not other income tax rebates. The other possibility is that the government will increase the exemption from the current Rs 2.5 lakh, to Rs 3.5 lakh, and let some of the deductions continue. At present, Rs 2.5-5 lakh income is taxed at 10%, Rs 5-10 lakh at 20%, and above Rs 10 lakh at 30%. The government is currently working on various possibilities, and it will take sometime to zero-in on one, according to different sources in the government.

7th Pay Commission: Good news for CG employees; Centre to pay higher allowances, arrears from Jan 2017


In a good news for central government employees, the government is planning to pay higher allowances and five months’ arrears according to the 7th Pay Commission recommendations from January, 2017.
In a good news for central government employees, the government is planning to pay higher allowances and five months’ arrears according to the 7th Pay Commission recommendations from January, 2017. The government wants the situation to get normal following demonetisation drive before paying higher allowances and five months’ arrears under the 7th Pay Commission recommendations to its 4.8 million employees. Higher allowances and five months’ arrears under the 7th Pay Commission recommendations will be paid after Cabinet nod to ‘Committee on Allowances’ report.
According to Finance Ministry sources, Central government will have to pay the arrears of enhanced allowances this time because the enhanced allowances under recommendations of 7th Pay Commission have not been paid in August when the pay hike and its arrears were paid. The ‘Committee on Allowances’, headed by Finance Secretary Ashok Lavasa, on fatter allowances under the 7th Pay Commission recommendations is ready with its report. But the cash crunch post currency ban has forced the Finance Ministry to keep in abeyance the enhanced allowances till things normalize

Friday 25 November 2016

Latest News – Central Government has taken various decisions relating to 500 and 1000 Rupees Notes


After due consideration of all relevant aspects, the Central Government takes various decisions relating to certain operational aspects of the Scheme relating to cancellation of legal tender character of old Rs. 500 and Rs. 1000 notes; No over the counter exchange of old Rs. 500 and Rs. 1000 notes after midnight of 24.11.2016;.Certain other exemptions continued till 15th December, 2016 with certain additions and modifications.

The Central Government has been reviewing the issues related to the cancellation of legal tender character of old Rs. 500 and Rs. 1000 notes. The Government has also been receiving various suggestions in this regard. After due consideration of all relevant aspects, the following decisions relating to certain operational aspects of the Scheme have now been taken:

No Annual Increment if not meet the Benchmark for MACP


The 7th Pay Commission in its recommendation stated that Annual Increments for the employees those who are not able to meet the benchmark either for MACP or a regular promotion within the first 20 years of their service can be withheld after 20 Years. The Central Government accepted this recommendation and confirmed again in the Parliament when a question related this issue was raised.  PIB News in this regard is given below


Pay Hike

The 7th Central Pay Commission in its Report contained in Para 5.1.46 titled ‘Withholding Annual Increments of Non-performers after 20 Years’ has inter-alia recommended for withholding of annual increments in the case of those employees who are not able to meet the benchmark either for Modified Assured Career Progression (MACP) or a regular promotion within the first 20 years of their service. The Government of India vide Resolution No.1-2/2016-IC dated 25.7.2016 has accepted this recommendation.

7th Pay Commission – CG Employees may have to Wait till January for Allowances


The 7th Pay Commission continues to be a source of an irritant for the central government employees as the issues on allowances are not yet settled.
The Centre had set up a ‘Committee on Allowances’ which met last Thursday under the chairmanship of Union Secretary, Finance (Expenditure) with representatives of the Central government unions.
At the very start of the meeting, representatives of the unions expressed their anguish for ‘non-formation of High Level Committee’. According to them it was agreed to in July by the Group of Ministers (Government of India) for settling the issue of Minimum Wage and Multiplying Factor. The unions want the ‘minimum wage’ for Central employees to be fixed at Rs. 26,000 as opposed to Rs. 18,000 recommended by the 7th Central Pay Commission (CPC).

INSTRUCTIONS FOR DOWNLOADING RBI SOVEREIGN GOLD BONDS


Sir / Madam,

RBI Mumbai has given final Certificates of Holding (Bonds) after settlement on 17.11.2016 for successfully accepted applications in eKuber portal for Sovereign Gold Bond Tranche-6.

The Circle wise Final data of Successfully accepted applications in eKuber portal of RBI for Tranche-6 and all previous Tranches is given in 6 Excel files for referring Investor IDs / Names etc. The said data is sent herewith in Google Drive Link as below.

Google Drive Link :


Steps for Downloading/Printing Bonds:

Thursday 24 November 2016

Cabinet moves in to tax post demonetisation deposits


The Union Cabinet on Thursday night is believed to have discussed amending laws to levy close to 60 per cent income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes.

The move comes amid banks reporting over Rs. 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the Rs. 500 and Rs. 1,000 notes were banned, which authorities apprehend may be the laundered black money.

There was no official briefing on what transpired in the meeting that was called at short notice as Parliament is in session. Traditionally, there could no disclosures outside on any policy decision taken during the sitting of Parliament.

Sources said the government was keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30.

GDS COMMITTEE HAS SUBMITTED ITS REPORT TO THE SECRETARY POSTS TODAY

CHAIRMAN , GDS COMMITTEE HAS SUBMITTED HIS REPORT TO THE SECRETARY POSTS TODAY VIZ. ON 24.11.2016. WE ARE AWAITING FOR DETAILS.





NO CURRENCY EXCHANGE FROM TOMORROW ONLY DEPOSIT IN SAVING ACCOUNT


Discontinuation of over the Counters Exchange of SBN
RBI/2016-17/155
DCM (Plg) No.1391/10.27.00/2016-17

November 24, 2016
The Chairman / Managing Director/ Chief Executive Officer,
Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional Rural
Banks / Urban Cooperative Banks/ State Cooperative Banks

Dear Sir,
Discontinuation of over the Counters Exchange of SBN
Please refer to our circular DCM (Plg) No.1302/10.27.00/2016-17 dated November 17, 2016 on “Withdrawal of Legal Tender Character of existing ₹ 500 and ₹ 1000 Bank Notes – Exchange over the counters”.

Instructions regarding the wedding expenses withdrawal in DOP



Instructions to be communicated regarding the wedding expenses withdrawal  are given below for  circulation as directed:
 
For wedding expenses, the Government has allowed withdrawal limit as Rs.250000-. Patch for the same is being deployed in Finacle.

As per RBI guidelines / DoP rulings, the officials should check all the relevant documents and obtain the declarations from the customer requesting for withdrawal from their POSB account in connection with wedding expenses.

The following conditions are mandatory for withdrawal in respect of wedding expenses:

Directorate issued DA order @7% to GDS staff


Discontinuation of Indian Postal Orders (IPOs)


Wednesday 23 November 2016

Airtel launches India’s first Payment Bank with massive 7.25% interest on Savings Accounts

Airtel Bank’s services can be accessed by Airtel customers on their mobile phones through the Airtel Money app, through USSD by dialing *400#; or via a simple IVR by dialing 400. (Source: Reuters)



Airtel Payments Bank Limited or Airtel Bank, a subsidiary of Bharti Airtel Limited on Wednesday rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch. With this, Airtel Bank became the first payments bank in the country to go live. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services. Airtel Bank will commence the pilot with banking points at 10,000 Airtel retail outlets. Airtel Bank plans to expand its merchant network in Rajasthan to 100,000 by the end of the year, giving a big boost to digital payments ecosystem.

Disbursement of salary for Central Government Employees in Cash - NC JCM Staff Side


NC JCM Staff Side Requested the Govt to Pay salary in Cash for November and December 2016

In a Letter to The Prime Minister, the NC JCM Staff Side has Requested the Govt to Pay Salary in Cash to all central Staffs for the Months of November and December 2016 . The content of the letter is given below

Disbursement Of salary for Central Govt. Employees – November and December 2016

 Salary payment of Central Government employees (including Industrial Workers) normally made through Bank- Transfer since 1.4.2012. The recent decision Of the Govt. to invalidate the Rs.1000 and Rs.500 currency notes and restrictions on ATM withdrawals made the bank functioning in the country in to an extraordinary situation.

SB Order No. 13/2016 dated 23.11.2016 regarding acceptance of WOS currency notes in Post Office Saving Bank Accounts

SB Order No. 13/2016 dated 23.11.2016 regarding acceptance of WOS currency notes in Post Office Saving Bank Account only and not in other accounts like RD, TD, MIS, SSA, SCSS, PPF, KVP, NSC etc.



Tuesday 22 November 2016

Old Notes May Not Be Allowed To Be Deposited In Small Saving Schemes - Finance Ministry Order

Deposit of old demonetized notes of 500 and 1000 in Small Savings Scheme - Finmin Order 22.11.2016



F.No.1/042016-NS
Ministry of Finance
Department of Economic Affairs


(Budget Divisional)
North Block, New Delhi
Dated 22nd November 2016
To

1. The Chief General Manager
Reserve Bank of India
Department of Government & Bank Accounts
Central Office, Byculla Office Accounts
4th floor, Opposite Mumbai Central Railway Station
Byculla, Mumbai - 400008


2. The Deputy Director General (FS)
Department of Posts
Dak Bhawan, Sansad Marg, New Delhi



3. The Joint Director & HOD
National Savings Institute
ICCW Building


4. Deen Dayal Upadhyay Marg
New Delhi-110003


Subject: Deposit of old demonetized notes of 500 and 1000 in Small Savings Scheme


Sir,
I am directed to state that Ministry of Finance has received references from Banks whether currency notes of Rs.500 and Rs.1000, discontinued w.e.f.9.11.2016, can be deposited in accounts opened under small savings schemes. The matter was examined in this Ministry and it has been decided that subscribers of Small Savings Scheme may not be allowed to deposit old currency note of Rs.500 and Rs.1000, in Small Savings Schemes.

Monday 21 November 2016

Regarding exchange of currency notes at post offices -DO from Directorate


7th Pay commission Allowances revision – Minister replies in Parliament


Minister of Finance Mr.Arun Jaitley replies in Parliament with regard to a query raised in Lok Sabha on 7th Pay Commission Allowances.
Position  No.  17
Government  of India
Ministry of Finance
Department  of Expenditure
LOK SABHA STARRED   QUESTION  NO. 57
TO BE ANSWERED   ON FRIDAY,  THE 18th NOVEMBER,   2016
KARTIKA  27, 1938 (SAKA) ALLOWANCES   TO  GOVERNMENT   EMPLOYEES QUESTION
57.      SHRI S. R. VIJA YAKUMAR:
SHRI SUDHEER  GUPTA:
Will the Minister  of FINANCE  be pleased to state:
(a) whether    the    Government   has   deferred   the    Seventh   Pay   Commission’s recommendations on various allowances,  perks and perquisites and referred the matter  to a Committee;
(b)  if so,  the details thereof along with the terms of reference and aims and objectives of this move;
(c) whether the Committee has submitted its report to the Government and if so,  the details thereof and if not, the reasons for the delay;  and

7th Pay Commission – Weekly Work Report to Decide Annual Increment


7th Pay Commission – Weekly Work Report to Decide Annual Increment.

The Department of Personnel and Training is going to soon bring out guidelines based on the recommendations of the 7th pay commission which will help in tracking performance of Central government employees in more transparent manner.
As per reports, CG employees will need to give a weekly work report every Friday showing the task accomplished as well as the pending work, which was suggested by the 7th pay commission.
The 7th Pay Commission has recommended that Central government employees should be offered annual increments only if they meet certain performance criterion. The Pay Commission has also sought upgradation of performance benchmark to “very good” from “good” level and recommended introduction of the Performance Related Pay (PRP) for all categories of central government employees.

Abolition of Overtime Allowance by 7th Pay commission


Minister of State for Finance reply to Loksabha on Abolition of Overtime Allowance recommended by 7th Pay commission

Minister of State for Finance replies in Loksabha on recommendation of 7th Pay commission on Abolition of Overtime Allowance
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
LOK SABHA
UNSTARRED QUESTION No. 492
TO BE ANSWERED ON FRIDAY NOVEMBER 18, 2016
KARTHIKA 27, 1938 (Saka)
ABOLITION OF OVERTIME ALLOWANCE
492. SHRI G. HARI:
Will the Minister of FINANCE be pleased to state:
(a) whether. the expenditure on overtime allowance provided to Government employees had increased from Rs. 797 crore to Rs.1629 crore during 2012-13 and if so, the details thereof; and ·

Friday 18 November 2016

Don't Accept Demonitised 500/1000 Notes For Payment of PLI Premia



This Sunday (20.11.2016) Is A Holiday

Regarding Opening of Post Offices on Sunday (20.11.2016) for exchange of WOS Notes

I am directed to inform that the coming Sunday i.e. 20.11.2016 will not be a working day for the post offices. Instructions may be issued to all concerned.

Important : PAN Should Be Produced For Deposits


Demonetisation: Now, PAN required if combined cash deposits exceed Rs 2.5 lakh till December 30

The government has announced a new rule to prevent people from making multiple cash deposits in their bank accounts without quoting the PAN. Till now, the limit for cash deposit without PAN was Rs 50,000 per transaction. A lot of people were depositing less than Rs 50,000 per day to escape the PAN provision. But a circular issued on Tuesday says deposits made between 9 Nov and 30 Dec 2016 will require a PAN if the combined sum exceeds Rs 2.5 lakh. This clarifies the misconception that one can deposit cash in multiple batches of less than Rs 50,000 each and escape mentioning the PAN. 

Thursday 17 November 2016

7th Pay Commission: Decision on allowances postponed due to demonetisation

It seems Prime Minister Narendra Modi's demonetisation drive has hit Central government employees hard. They may now have to wait longer than they had anticipated for a decision on the implementation of hike in allowances, as the backlash to the "surgical strike" on black money has forced the government to keep it on hold.
"The process of an announcement of the higher allowances has been kept in abeyance on account of the opposition parties protests against demonetisation," the Sen Times quoted a finance ministry official as saying.
"The Finance Ministry compels after receiving reports on Banks and ATMs chaos from states to keep in abeyance the higher allowances till things normalise," he added.

Finmin order for Payment of Salary advance for November 2016 to Non Gazetted CG Employees


Finance Ministry has issued Order for  Payment of Salary advance for the Month of November 2016 to Non Gazetted Employees of Central Government after the announcement made by the Government

No. 25(30)/E.Coord/2016
Ministry of Finance
Department of Expenditure
New Delhi the 17th November 2016
OFFICE MEMORANDUM
Subject: Salary advance for the month of November 2016 to be paid to Non Gazetted employees of Central Government.
In terms of Rule 64 (2) of Central Government Account (Receipt & Payment) Rules, 1983, the President is pleased to release part salary, in advance, amounting to Rs. 10,000/- (Rupees ten thousand) by 23rd November 2016 from the salary for the month of November 2016 in the form of cash payout to all Non-Gazetted employees of Central Government.

Wednesday 16 November 2016

Govt To Keep Higher Allowances In ‘Abeyance’ Due To Protests Against Demonetisation


A top government official today told The Sen Times that the higher allowances of the central government employees has been kept in “abeyance” on account of protests against demonetisation.

“The process of announcement of the higher allowances has been kept in abeyance on account of the opposition parties protests against demonetisation,” the official said.
“The opposition parties met on Monday — ahead of the Winter Session of Parliament beginning November 16 — to formulate a joint strategy to put the government on the mat on the demonetisation move. According to them that has caused great inconvenience to the people, especially the poor. The opposition parties will meet again today afternoon to finalise their plans,” he added.

Dearness Relief to pensioners effective from 1.7.2016


F. No. 42/15/2016-P&PW(G)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Pension & Pensioners’ Welfare
3rd Floor, Lok Nayak Bhavan,
Khan Market, New Delhi – 110003
Date: 16th Nov, 2016
OFFICE MEMORANDUM
Subject: Grant of Dearness Relief to Central Government pensioners/family pensioners — Revised rate effective from 1.7.2016 on implementation of decision taken on recommendation of 7th Central Pay Commission.
******
The undersigned is directed to say that subsequent to implementation of the decision taken by the Government on the recommendation of the 7th Central Pay Commission, the President is pleased to decide that the Dearness Relief admissible to Central Government pensioners/family pensioners shall be as follows:
Date from which payable
Rate of Dearness Relief per month
From 01.01.2016
From 01.01.2016
From 01.07.2016
2% of Basic Pension/Family Pension

November Salary to be Paid by Cash – Confederation

Confederation of Central Government employees and Workers has requested the Controller General of Accounts, Ministry of finance to take necessary action to pay November Month’s Salary by cash. The letter posted in its blog is reproduced below. It is really a timely demand to help the CG Staffs at this difficult time due to this Cash crunch


Ref:Confdn/salary/2016
Dated: 15/11/2016
To,
Controller General of Accounts,
Mahalekha Niyantrak Bhawan,
Ministry of Finance,
GPO Complex, Block E, Aviation Colony,
INA Colony, New Delhi – 110003
Sir,
Sub: Request for issuing instructions for disbursement of salary of Central Government Employees for the month of November 2016 in cash.
As you are aware , the difficulties being experienced due to demonetization of Rs.500/- and Rs. 1000/- currency notes may continue for about 50 days as made clear by the Government. Further Banks have imposed a cap of 24000/- for withdrawal from savings Bank Accounts. Even for withdrawing that amount, one has to stand in long que for hours together. Naturally Central Government employees are likely to face much problem for getting their salary for this month in time. Employees waiting in que for cash may adversely affect the functioning of Central Government offices also.

Friday 11 November 2016

DIRECTORATE INSTRUCTIONS FOR 13/11/2016 (Sunday) Working Day For All Post Offices and SB counters shall perform all types of POSB Schemes transactions (Dep/Withdrawal/New A/c Opening etc) on 13.11.2016


Sir/Madam,

I am directed by competent authority to convey the following

Kindly find instructions from Directorate
The competent authority has issued instructions vide PO Division letter no.  24-01/2016-PO dated 11.11.2016 to keep open all the post offices (HOs and SOs) on 13.11.2016 for exchange of WOS banknotes and opening of SB counters. Accordingly it is requested to issue instructions to all the Post Offices that in addition to exchange of WOS banksnotes, the SB counters shall perform all types of POSB Schemes transactions (Dep/Withdrawal/New A/c Opening etc) on 13.11.2016.

After 7th CPC salary hikes, move on to raise minimum wage ceiling under EPF.

The minimum wage ceiling under the Employees’ Provident Fund (EPF) could soon be raised to Rs 25,000 from the existing Rs 15,000.
A hike in the wage limit as proposed would mean all employees drawing basic salary Rs 25,000 would have to compulsorily contribute to the provident fund.
The minimum wage ceiling under the Employees Provident Fund (EPF) could soon be raised to Rs 25,000 from the existing Rs 15,000. A proposal to to enhance the limit is likely to be sent by the Employees.
Provident Fund Organisation (EPFO) to the government. A decision to propose the change has been taken at a recent meeting of Sub-committee of the Central Board of Trustees, EPFO, on contract workers held on November 7. Central Board of Trustees (CBT) is the highest decision-making body of the EPFO.