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Tuesday, August 26, 2014

India Post to connect its offices through CBS and also plans to roll out 3000 ATMs

MUMBAI: Preparing itself to start commercial banking operations, India post announced the launch of over 1000 ATMs in the near feature. It will also enable core banking solution CBS at its 25000 offices over the next year. 

Speaking at a financial inclusion conclave a senior official of India post elaborated on the technology initiatives in reaching the post off account holders. "We have invested around Rs 5000 crore in technology since 2012. Already 676 postal offices are connected through CBS. By March 2016, 25000 offices will be on CBS," said Kalpana Tewari, member (Planning and Technology), department of post. 

"We plan to roll out 3000 ATM by FY18, of which 1000 will be in the near future," she said. The department is already running a pilot in Chennai and Delhi. Once it gets stream lined and RBI allows interoperability even other bank account holders willl be able to transact through the ATMs. India Post is already on the RBI's electronics funds transfer platform. 

India Post's banking technology system is being built by Infosys, while TCS is setting up the CBS platform. If the postal system in the country is on CBS, it means that a post office savings or deposit account holder will be able to operate his account from any post office in any geographic location in India, the same way one can operate a commercial bank account these days. 

India Post already has a tripartite arrangement with the Andhra Pradesh government to disburse MNERGA payments online through the postal network in the states. It is also working on similar such initiatives with other states. 

India Post has already indicated its intention to apply for a Payments Bank licence under the RBI's proposed differentiated licences scheme though it did not get any favourable response from the banking regulator in its initial attempt at getting a commercial banking licence. "We are awaiting to see how the final guidelines fit in the benefit of the organisation," Tewari said. 

Source:-The Economic Times

Larger contributions sought for PM's National Relief Fund

  • New Delhi: Seeking larger contributions for the Prime Minister''s National Relief Fund, the PMO has asked all central ministries to display the message on their websites and inform the common man that such donations enjoy tax benefits.
Source:-PTI

CVC seeks strong anti-corruption mechanisms for regulators

  • By Ashwini Shrivastava New Delhi, Aug 26 (PTI) Anti-corruption watchdog CVC has sought tough measures to check corruption in various regulatory bodies including SEBI and FMC besides appointment of full-time chief vigilance officers (CVOs) in some of these regulators.

EPFO to pay 8.75 % interest on PF deposits in '14-15

New Delhi, Aug 26 (PTI) Retirement fund body EPFO's trustees on Tuesday decided to retain interest payment on provident fund deposits for 2014-15 at 8.75 per cent.

"It has been decided to pay 8.75 per cent interest in the current fiscal," Central Provident Fund Commissioner (CPFC) K K Jalan told PTI after the meeting of the Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisation (EPFO).

Consultations on Planning Commission

Consultative meetings were held today relating to the proposed new design and structure for the Planning Commission. These were part of consultations after the Prime Minister Shri Narendra Modi, in his Independence Day speech, from the ramparts of Red Fort, on the 15th of this month, had said “….We will replace Planning Commission with a new institution having a new design and structure… a new faith towards forging a new direction to lead the country based on creative thinking, Public Private Partnership, optimum utilization of resources, utilization of youth power to the nation, to promote the aspiration of State Governments seeking development, to empower the State Governments and to empower the federal structure.” 

Subsequently, the Prime Minister had invited ideas from people on what shape the new institution to replace the Planning Commission can take. A special open forum was created on the website mygov.nic.in for inviting suggestions on the new institution. 

"We envision the proposed Institution as one that caters to the aspirations of 21st century India & strengthens participation of the States.... Let the ideas flow,” Shri Narendra Modi said as the above Open Forum was created on mygov.nic.in, on last Tuesday. 

Various experts were invited for the consultations held at the Planning Commission today. Among those who participated in today’s meetings were Shri Yashwant Sinha, Dr. Bimal Jalan, Dr. Saumitra Chaudhury, Dr. Vijay Kelkar, Shri M.J. Akbar, Dr. Y.K. Alagh, Dr. Nitin Desai, Dr. Shankar N. Acharya, Shri T.N. Ninan, Dr. Pratap Bhanu Mehta, Dr. Shekar Shah, Dr. Pronab Sen, Dr. T.C.A. Srinivasa Raghavan, Dr. Rajat Kathuria, Dr. Rajiv Kumar, Dr. Surjit Bhalla and Shri Sumit Bose.

Source:-PIB

The Lokpal and Lokayuktas Act,2013-Submission of declaration of assets and liabilities by the public servants for each year-regarding.

To view please Click Here.

CHQ News: Holding of DPC for the promotion to the cadre of JTS Gr. A for the vacancy year 2014-15

It has been decided by Directorate to hold DPC for promotion to Junior time Scale (JTS) of Indian Postal Service (IPoS) for the vacancy year 2014-15. The list of officers in the zone of consideration is circulated to all circles with a direction that, each circles APMG /AD (staff) will personally hand over the requisite information to Directorate on allotted date to their circle. 

To see the copy of Directorate DO letter and list of officers falling within the ZoC, please Click Here.  

Bureau of Indian Standards Licence for Service Quality Management Systems Certification to M/s O/o the Chief PMG, Odisha Circle, Bhubaneswar and 1.Puri HO, 2.Chhatrapur HO, 3.Rourkela HO



Revision in interest rates of Small Savings Schemes w.e.f 1st April 2014 ( SB Order No. 04/2014)

To view please Click Here.