To view Department of Personnel and Training OM No. AB.14017/34/2008-Estt. (RR) (Pt.) dated 17th June, 2013 Click Here.
Thursday, June 20, 2013
Wednesday, June 19, 2013
Notification of holding LGO Examination for the year 2013 on 8/9/2013 issued by Directorate.
Directorate vide memo No. A.34012/7/2013-DE dated 17/6/2013 has issued notification for holding Limited Departmental Competative Examination for the promotion of Lower Grade Officials to the cadre of Postal Assistants / Sorting Assistants for the year 2013 on 8/9/2013. To view the original copy of Directorate memo, please Click Here.
Source:-CHQ Blog
Notification for holding of Inspector Posts Examination 0n 7 & 8th September, 2013 issued by Directorate.
Directorate vide memo No. A.34012/05/2013-DE dated 17/6/2013 has issued notification for holding Limited Departmental Competative Examination for the promotion to the cadre of Inspector Posts 66.66% Departmental Quota for the year 2013 on 7/9/2013 and 8/9/2013. To view the original copy of Directorate memo, please Click Here.
Source:-CHQ Blog
India Post’s bank plans meet hurdle
The Department of Financial Services (DFS) has opposed the proposal of the Department of Posts (DoP) to apply for a banking licence. According to the DFS, though the network of post offices is large with 1.55 lakh offices across the country, they neither have an interconnected system in place to give people access to their money anywhere and at any time like the banks, nor experience in lending.
“A Cabinet note is being circulated by the DoP for them to apply for a banking licence. But we are against the move,” a senior DFS official told FE.
The DoP wants to start a bank initially with at least 40-50 branches – with one or two in each state – with a focus on lending to small and medium enterprises and gradually over a period of ten years increase the branch network to around 800 by going into rural areas. According to the RBI guidelines, the initial minimum paid-up voting equity capital for a bank should be Rs 500 crore, while the DoP has sought a capital of Rs1,900 crore for its banking venture, sources said.
The DFS official, however, said the DoP's plan seems “half-baked” as it was “not clear on how they will evolve a system like the banks have to help their depositors access money easily anywhere at any time.”
“Banking is a different ball game altogether. It will require a lot of training for the post office staff to learn the rules. It will not be easy for DoP to run a full-fledged bank,” the official said, adding that a lack of experience in lending is also a drawback for the DoP.
The DoP, however, is keen to submit its application to the RBI before the July 1 deadline and the bank will be set up a through a wholly-owned Non-Operative Financial Holding Company (NOFHC). The DoP had taken the help of consultancy firm Ernst & Young in preparing its strategy. “The main benefit (in giving a bank licence to DoP) is that it will help boost the financial inclusion plan,” said Ashvin Parekh, national leader (global financial services), Ernst & Young. The Cabinet note was prepared on the basis of the Ernst & Young report.
The DoP intention is not to convert all its post offices into banks, but wants a separate banking entity for which it has decided to hire a separate team of professionals, sources said. It has already spent around R200 crore in the last four years to put up a core banking solutions-like system in place, they added.
Incidentally, the government had started a R4909 crore-worth information technology-driven project to modernise the postal network. The government had allocated R532 crore in 2013-14 to make post offices a part of the core banking solution and help it offer real time banking services.
The DoP also pointed out that the post offices reach even the remote corners of the country as the network includes 1.4 lakh post offices in rural areas, 15,000 in urban areas and another 30,000 points of presence. Post offices already offer many financial services for urban and rural people including savings accounts, recurring deposit accounts, monthly income schemes, public provident fund, time deposits, senior citizens savings scheme, national savings certificates and postal life insurance. Besides, post offices also offer money remittance services, distribution of mutual funds and securities and are also provide electronic international money order service and forex services.
The DoP also provides services on the new pension scheme and retail services such as sale of forms and bill collection. The DoP is also a government agent for providing services on Mahatma Gandhi National Rural Employment Guarantee Scheme wage disbursement and old age pension payments.
Source:-Financial Express
Postmaster Grade I Examination 2013 will be held on 30/6/2013 and its vacancy position
The circle wise vacancy position of Postmaster Grade-I Examination 2013 scheduled to be held on 30/6/2013 is as under:
Source:-CHQ Blog
Tuesday, June 18, 2013
Appointment of Information commissioners in the central Information commission
To view the Circular please Click Here.
Declaration of bonus on PLI policies for the year 2010-11
Simple
Reversionary Bonus rate for the year ending 31.03.2011 on the Postal Life
Insurance Policies on their becoming claim, due to death or maturity:-
Sl.
|
Type of
Insurance Policy
|
Rate of
Bonus
|
(i)
|
Whole
Life Assurance (WLA)
|
Rs.85
per thousand sum assured
|
(ii)
|
Endowment
Assurance (EA)
|
Rs.60
per thousand sum assured
|
(iii)
|
Money
Back Policies (AEA)
|
Rs.55
per thousand sum assured
|
(iv)
|
Convertible
Whole Life Policies
|
Whole
Life Bonus would be applicable but on conversion, Endowment Bonus rate will
be applicable
|
(v)
|
Terminal
Bonus
|
Rs.20
per sum assured of Rs.10,000 subject to maximum of Rs.1,000 for whole life
policies and Endowment policies with term of 20 years and above.
|
The rate of Bonus for the year 2010-11 will be
applicable from the date of receipt of this notification by the Circles and
this will also be applicable to claim cases received but not settled till the
date of receipt of this Notification.
Interim Bonus at the rates mentioned above will also be
payable for all claims arising due to maturity or death until future valuation
is completed.
To view Department of Posts (Directorate of PLI) Letter No.04-02/2012-LI dated 17.06.2013 please Click Here.
Submission of Annual immovable Property Returns by Group A officer of Department of Posts for the year ending 2012 as on 01.012013 - (Placing in Public domain)
To view Department of Posts Letter No. 20-4/2013-SPG dated 07/06/2013 please Click Here.
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