USER MENU ID IS UNDEFINED IN FINACLE MIS SERVER

User Menu ID is undefined in Finacle MIS Server

An Error "User Menu ID is undefined" is coming while any command is given in Menu Shortcut at Finacle MIS Server. The error is looking like below screen shoot.

Solution :-

• Delete Browsing History from Tool Menu of Internet Explorer.

• Now Click on Tools in Right side of Internet Explorer and do the compatibility Setting.

Date of Implementation of "VERY GOOD" Bench Mark for MACPs effect from 25.07.2016

Expected DA from Jan 2017 – 3% or 2% ?

 

As per AICPIN release for October month we have computed expected DA from January 2017, this is only on assumption basis. AICPIN value may vary for November & December 2016.

Illustration 1:
In case AICPIN value more than 277 for Nov & Dec 2016, then Dearness Allowance from January 2017 will be 3%

MONTH-YEAR	B.Y. 2001=100	EXPECTED DA
Jul-16	280	3.45
Aug-16	278	3.9
Sep-16	277	4.25
Oct-16	278	4.53
Nov-16	277	4.76
Dec-16	277	5.01 – 2.00 = 3% DA(Round Off)

One minute talk time for each Rupee in Airtel Payments Bank

Airtel Payments Bank on Friday announced additional benefits of depositing cash in their newly opened Payments Bank.

 “For every Rupee deposited in a Airtel Payments Bank savings account, customers will get one minute of talk time on their Airtel mobile number,” the company said.

“We are confident that this additional benefit along with the industry-best interest rate on deposits will encourage customers to open accounts with us and give a big boost to customer acquisition,” Shashi Arora, MD & CEO, Airtel Payments Bank said.

The company said any customer opening a savings account with Airtel Payments Bank, will get one minute of talk time  on his/her Airtel mobile for every Rupee deposited, however this will be applicable only for Airtel to Airtel mobile calling.

AICPIN for October 2016 : Chances for 5% DA from January 2017

Consumer Price Index for Industrial Workers (CPI-IW) – October, 2016

No. 5/1/2016- CPI
GOVERNMENT OF INDIA
MINISTRY OF LABOUR & EMPLOYMENT
LABOUR BUREAU

CLEREMONT, SHIMLA-171004
DATED: 30th November, 2016

Press Release

Consumer Price Index for Industrial Workers (CPI-IW) — October, 2016

The All-India CPI-IW for October, 2016 increased by 1 point and stood at 278(two hundred and seventy eight). On 1-month percentage change, it increased by (+) 0.36 per cent between September and October, 2016 when compared with the increase of (+) 1.13 per cent between the same two months a year ago.

The maximum upward pressure to the change in- current index came from Food group contributing (+) 1.01 percentage points to the total change. At item level, Rice, Wheat, Wheat Ana, Besan, Black Gram, Gram Dal, Poultry (Chicken), Milk (Buffalo & Cow), Brinjal, Cauliflower, French Bean, Lady’s Finger, Methi, Peas, Tomato, Cooking Gas, Petrol, Toilet Soap, Tailoring Charges, etc. are responsible for the increase in index. However, this increase was checked by Moong Dal, Urd Dal, Groundnut Oil, Fish Fresh, Apple, Banana, Potato, Electricity Charges, Soft Coke, etc., putting downward pressure on the index.

Central Government employees retiring from January 2017 to submit online application

DP&PW OM on Processing of Pension cases mandatorily through Bhavishya, Retiring employees to submit the online application w.e.f 01/01/2017

Department of Pension & Pensioners’ Welfare has issued an OM regarding online system for processing Pension cases and filing of pension data online by retiring central government employees

No. 55/14/2014/P&PW(C)Part-1

Government of India

Ministry of Personnel, Public Grievances and Pension

Department of Pension & Pensioners’ Welfare

3rd Floor, Lok Nayak Bhawan,

Khan Market, New Delhi

Dated: 29th November, 2016

OFFICE MEMORANDUM

Sub: Processing of Pension cases mandatorily through Bhavishya (Online Pension Sanction & Payment Tracking System) w.e.f 01/01/2017 – reg.

Department of Pension and Pensioners’ Welfare is responsible for formulation of policy and coordination of matters relating to pension policy and welfare of Central Government pensioners. It has been seen that despite detailed guidelines and instructions to the contrary a large proportion of retiring employees do not get their retirement benefits and the Pension Payment Order(PPO) in time. It is likely that such retired employees find it difficult to get the process completed after retirement. The sanction process starts more than a year before the date of retirement and requires cooperation amongst various agencies. This department has, therefore, launched Bhavishya – an online pension sanction and payment tracking system. The system by keeping track of the progress of each case introduces transparency and accountability. Both the retiring employees as well as administrative authorities can monitor progress at each stage.

Pre-Budget Views of Govt. Employees for inclusion in the Budget for the Year 2017-18: Confederation i.e. Scrap NPS, Minimum Wage Rs. 26,000 & Fitment Formula etc

Pre-Budget Views of Govt. Employees for inclusion in the Budget for the Year 2017-18: Confederation i.e. Scrap NPS, Minimum Wage Rs. 26,000 & Fitment Formula etc

CONFEDERATION OF CENTRAL GOVT. EMPLOYEES & WORKERS

1st Floor, North Avenue PO Building, New Delhi – 110001

Website: www.confederationhq.blogspot.com

Email: confederationhq@gmail.com

REF: CONFDN/BUDGET/2016-17

DATED - ....-12-2016

To,
Shri. Arun Jaitley,
Hon’ble Finance Minister,
Government of India,
North Block, New Delhi -110001

Sub: - Submission of Pre-budget Views of Central Government employees for consideration and inclusion in the Central Budget for the year 2017-18 – Request – Regarding.

Respected Sir,

Confederation of Central Government Employees and Workers is the umbrella organization comprising of various Unions/Associations/Federations of the Central Government employees. Central Government employees are the important segment of the society and contributing for the growth of this country through effective implementation of the policies of the Government of India. Hence, the views of this segment of important stakeholders, I submit, may also be heard and considered. With this request, this organization is bringing the following views for consideration by your good self, as a part of the pre-budget exercise to finalize the budget for the year 2017-18.

Issues of the Central Government employees:

On Salary Week, Banks Unlikely to Meet Demand for Extra 1 Lakh Cr

Lines in front of bank branches and ATMs are going to be even longer in the next few days. As salaries are likely to be credited in the accounts of employees, the rush to withdraw money to pay bills is going to increase manifold.

Even with multiple restrictions in place, people withdrew, on an average, Rs 12,742 crore everyday since 10 November. If past trends are any indication, the demand for cash increases by at least 5 percent in the first week of every month.

Reserve Bank of India (RBI) data reviewed by The Quint shows that in the first week of August and September this year, total balance in current accounts held with all scheduled commercial banks dipped by nearly 5 percent in the first week only to recover in subsequent weeks.While a section of government employees has the benefit of getting a part of salary in cash, scores of others will depend on the banking channels to meet their demand.

82 per cent ATMs dry because government used that money to pay its own employees

The central government’s decision to pay its 42 lakh Group C and D employees Rs 10,000 each in cash has one shocking fallout: a whopping 1.66 lakh ATMs, 82 per cent of India’s total cash machines, could have used that money to ease the serpentine queues before them.

As November ended and salaries were supposed to be paid, the government decided to pay its Group C and D staff Rs 10,000 in cash to ease pressure on the banks, already reeling for more than three weeks after demonetisation was announced on November 8.

Pay Commission figures say Group C and D employees constitute nearly 89 per cent of the 47 lakh government employees. If each is paid Rs 10,000, the total payment in cash sucked out of the system comes to over Rs 4170 crores.

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.”

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:-

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

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 :

https://drive.google.com/open?id=0B4gPjTeI3DHnbEhoX1RuN0dYTmc

Steps for Downloading/Printing Bonds:

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.