More than 2 dozen companies want collaboration with India Post Payments Bank-Manoj Sinha

More than 2 dozen companies want collaboration with India Post Payments Bank-Manoj Sinha

Government has said that there are many companies who have approached the Department of Posts for collaboration with India Post Payments Bank. Replying to a question in the Rajya Sabha, the Minister of Communications Shri Manoj Sinha said that while the Department is in various stages of discussions with them, decision on formal partnerships will be taken after carefully evaluating the entire value proposition that they propose for the common man. The India Post Payments Bank had launched its two branches in Raipur (Chhattisgarh) and Ranchi (Jharkhand) on 30/01/2017 with basic products and banking services in partnership with Punjab National Bank.

Shri Sinha also said that the Payments Banks are different from regular Banks in the following fundamental ways as per RBI guidelines for Licensing of Payments Banks:

(i) Payment Banks are not allowed to undertake lending activities directly. It can accept demand deposits only that is savings and current accounts and will initially be restricted to holding a maximum balance of Rs. 100,000(Rupees one lakh only) per individual customer.

(ii) Payment Banks cannot accept Non Resident Indian (NRI) deposits.

(iii) The Payment Banks cannot set up subsidiaries to undertake non banking financial services activities.
A list of companies interested in partnering with India Post Payments Bank is attached at Annexure A.

List companies keen to partner with India Post Payments Bank.
1	YES Bank
2	Union Bank
3	Punjab National Bank
4	IDBI Bank (Industrial Development Bank of India)
5	SBI (State Bank of India)
6	Axis
7	Bank of Baroda
8	IDFC Bank (Industrial development finance company)
9	Deutshe Bank
10	Barclays Bank
11	Citibank
12	NABARD (National Bank For Agriculture & Rural Development)
13	HSBC (Hongkong and Shanghai Banking Corporation)
14	MICRO SAVE
15	Allahabad Bank
16	Indian Overseas Bank
17	Dena Bank
18	FIA (Financial Inclusion)
19	Kotak Mahindra Bank
20	United Bank of India
21	HDFC Life (Housing Development Finance Corporation)
22	Royal Sundaram
23	PNB Metlife (Punjab National Bank)
24	ICICI Lombard ( Industrial Credit and Investment Corporation of India Bank)
25	ICICI Prudential ( Industrial Credit and Investment Corporation of India Bank)
26	Bajaj Allianz Life

PIB

PCDA Circular 190 - Non transfer of Pension files from banks to other PDAs

PCDA Circular 190 - Non transfer of Pension files from banks to other PDAs

Office of the Principal Controller of Defence Accounts (Pension), Draupadi
Ghat, Allahabad-211014

Circular No. 190
No. AT/Tech/70-XXV

Dated:16.03.2017

To,
1. The Chief Accountant, RBI Deptt. of Govt. Bank Accounts, Central office C-7, Second Floor, Bandre- Kurla Complex, P B No. 8143, Bandre East Mumbai-400051.
2. The Manger CPPC of Public Sector Banks including IDBI
3. The Nodal Officers (ICICI/ AXIS/HDFC Bank)

Sub: Non transfer of Pension files from banks to other PDAs.

This office is receiving representations from pensioners/family pensioners stating that they have submitted applications to their banks for transfer of their pension account to other PDA, however, banks are not transferring their pension account to the new PDAs.

In this regards, attention is drawn to para 3 of “Scheme for Payment of Pension of Defence Pension’ by Public Sector Banks” which clearly provides that pensioner will have the choice to draw their pension from any PDA. Further in para 7 of above scheme, procedure for transfer of pension account from one PDA to another PDA has been laid down. Similar provisions for transfer of pension account alongwith necessary supporting documents from one PDA to another PDAs are available in para 93.1, 93.3 and 94 of Defence Pension Payment Instruction 2013.

Non-transfer of pension account of pensioner/family pensioners, if opting, is not only a violation of provisions laid down but also reason of cause of dissent in pensioner/family pensioner. It is, therefore, requested to transfer pension account of pensioners/family pensioners to the new PDA on priority as and when pensioner/family pensioner opts for the same.

(Abhishek Singh)
ACDA (P)

Order Copy

Death Claim settled within 20 days from the date of receipt

Death Claim settled within 20 days from the date of receipt

GOVERNMENT OF INDIA
MINISTRY OF LABOUR AND EMPLOYMENT
LOK SABHA
UNSTARRED QUESTION NO: 3931

ANSWERED ON: 27.03.2017

Death Claims

G. HARI
Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:-
(a) whether the Employees Provident Fund Organisation (EPFO) proposes to settle PF money claimed after death of an employee within seven days from 20 days at present;
(b)if so, the details thereof;
(c)whether all the death cases claims will be given top priority and officers in charge at all EPF offices will personally monitor such claims on day-to-day basis; and
(d) if so, the details thereof?

ANSWER

MINISTER OF STATE (IC) FOR LABOUR AND EMPLOYMENT
(SHRI BANDARU DATTATREYA)

(a) & (b): As per paragraph 72(7) of the Employees’ Provident Funds (EPF) Scheme, 1952, the claim complete in all respects submitted along with the requisite documents shall be settled and benefit amount paid to the beneficiaries within 20 days from the date of its receipt by the Commissioner. The field offices of Employees’ Provident Fund Organisation (EPFO) have been directed to settle claims in cases of deaths within seven days of receipt of such claims.

(c) & (d): Yes, Madam. Public Relation Officer and officials in the Facilitation Centres of EPFO have been instructed to scrutinise the claim forms received in respect of death cases and guide the claimants for submission of all required documents in one go only. An official has been specially earmarked to handle such claims. Regional Provident Fund Commissioners have been directed to personally monitor the death cases on day-to-day basis.

Loksabha Q&A

7th Pay Commission : Who is responsible for the delay?

7th Pay Commission : Who is responsible for the delay?

With the financial year coming to an end, the central government employees are still waiting for an answer. When will we get higher allowance under the 7th Pay Commission? The committee which was formed by the government on higher allowance has failed to meet its deadline to submit the report.

There are more than 56 lakh employees who will be getting higher allowances under 7th Pay Commission.
Its been more than nine months since the government has formed 7th Pay Commission recommendation committee on higher allowance. In June last year, after the implementation of 7th Pay Commission, Finance Minister Arun Jaitley had announced the formation of Lavasa panel under the chairmanship of Ashok Lavasa, to examine the suggestions on allowance.

According to a India.com report, a Finance Ministry official has said that “Neither Prime Minister Narendra Modi nor Jaitley responsible for the delay in implementation of higher allowance.”

The members of the allowance committee along with National Joint Council of Action (NJCA) leaders will be meeting next week where Lavasa committee is expected to submit the report after discussion with employee representatives, the report said.

NJCA is a joint body of unions representing central government employees.

Earlier, the Lavasa committee was expected to submit the report in October, but since then it got delayed.
The committee is yet to submit the report on House Rent Allowance (HRA) to the government. As reported by Zeebiz earlier, under the 7th Pay Commission, HRA should be paid at the rate of 24%, 16% and 8% of the new Basic Pay, depending on the type of cities while unions demanded HRA at 30, 20 and 10%.
In a reply to a question Lok Sabha, on March 10, Minister of State for Finance Arjun Ram Meghwal, said that the committee has not submitted its report to the government but the deliberations of the committee are in the final stages.

Source : Zee Business

Notification on Dearness allowance (DA) this week

Notification on Dearness allowance (DA) this week

New Delhi: The Central government has announced to release of an additional instalment of 2 per cent of dearness allowance (DA) to central government employees and dearness relief to pensioner with effect from January 1, 2017.

Union Finance Ministry on Monday said that notification in this regard is expected to be issued this week.

The government is to notify its decision to give dearness allowance (DA) and dearness relief (DR) to 4 per cent from existing 2 per cent from January 1, 2017, benefiting 48.85 lakh is employees and 55.51 lakh pensioners.

The Finance Minister Arun Jaitley moved the cabinet note on March 16 for approval of releasing of an additional instalment of 2 per cent of dearness allowance (DA).

The DA/DR has been increased by 2 per cent over the existing rate of 2 per cent of the basic pay/pension to compensate for price rise and it is in accordance with the accepted formula based on the recommendation of 7th pay commission.

The combined impact on the exchequer on account of both dearness allowance and dearness relief would be Rs 5,857.28 crore per annum and Rs 6,833.50 crore in the Financial Year 2017-18 (for a period of 14 months from January, 2017 to February, 2018).

The hike in the DA/DR is as per the agreed methodology of taking average of Consumer Price Index-Industrial Workers for the past 12 months.

The Confederation of Central Government Employees had termed it as a meagre hike in view of actual rise in cost of living index saying the CPI-IW was far from reality.

The union had also said that there was a lot of variation in the rates of price rise of commodities by Ministry of Agriculture and CPI-IW.

TST

Implications of implementation of 7th Pay Commission

Implications of implementation of 7th Pay Commission

GOVERNMENT OF INDIA
MINISTRY OF RAILWAYS

RAJYA SABHA
UNSTARRED QUESTION NO.2704
ANSWERED ON 24.03.2017

IMPLICATIONS OF IMPLEMENTATION OF SEVENTH PAY COMMISSION

2704.SHRI MOHD. ALI KHAN:

Will the Minister of RAILWAYS be pleased to state:

(a) whether it is a fact that implementation of the Seventh Pay Commission recommendations has serious financial implications on Indian Railways, if so, the estimated additional financial implication over staff and pensioners; and

(b) whether Railways are planning to take up rationalisation of manpower in view of the financial implications, if so, the details thereof?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF RAILWAYS
(SHRI RAJEN GOHAIN)

(a) The estimated additional financial impact of 7th Pay Commission on Railways is around 15,000 crore ( 8,000 crore for staff and  7,000 crore for pensions). The Railways would be able to absorb the 7th CPC impact in 2016-17 within its resources.

(b) Manpower Planning is a continuous process and involves review of staff through work-studies, change in nature of work etc. No separate rationalization is proposed consequent upon the 7th Pay Commission.

Source: Rajya sabha

GDS: Grameen Dak Sevaks Lok Sabha Q&A

GDS: Grameen Dak Sevaks Lok Sabha Q&A

GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS
DEPARTMENT OF POSTS

LOK SABHA
UNSTARRED QUESTION NO.3450
TO BE ANSWERED ON 22ND MARCH, 2017

GRAMEEN DAK SEVAKS

3450. SHRI RAHUL KASWAN:
SHRI RAMESH BIDHURI:
SHRI BALABHADRA MAJHI:
SHRI TAMRADHWAJ SAHU:

Will the Minister of COMMUNICATIONS be pleased to state:

(a) the total number of postal circles in the country and the number of GPOs, SPOs and EDBOs functioning under these circles alongwith number of these post offices located in rural and urban regions separately;

(b) the number of post offices manned by Grameen Dak Sevaks (GDSs) State/UT-wise alongwith the details about the monthly salary of the GDS;

(c) whether Grameen Dak Sevaks (GDSs) are eligible for pension like other Government employees and if not, the reasons therefor;

(d) whether Government is contemplating to constitute any Committee to look into the salary structure and other service matters of Grameen Dak Sevaks and if so, the details thereof;

(e) whether the said committee has submitted its said report and if so, the salient features of the said report; and

(f) the time by which it is likely to be implemented?

ANSWER
THE MINISTER OF STATE (IC) OF THE MINISTRY OF COMMUNICATIONS &
MINISTER OF STATE IN THE MINISTRY OF RAILWAYS
(SHRI MANOJ SINHA)

(a) Madam, the total number of Postal Circles in the country is 23. The total number of GPOs is 24, the total number of Sub Post Offices (SPOs) is 24753, the total number of Extra Departmental Branch Offices (EDBOs) is 129346. The details of these post offices rural and urban regions wise is enclosed at Annexure-I.

(b) The number of post offices which are manned by Gramin Dak Sewaks (GDS) is given in the Annexure-II. Details of the monthly wages admissible to various categories of Gramin Dak Sewaks are given in the Annexure-III.

(c) No, Madam. The legal status of the Gramin Dak Sevaks as held in 1977 by Apex Court is that they are holders of the civil posts outside the regular civil service. Being a distinct and separate category, CCS (Pension) Rules, 1972 are not applicable in the case of Gramin Dak Sevaks (GDS).

(d) Yes, Madam. To examine the system of Branch Post Offices, engagement conditions, existing structure of allowances and all other welfare issues pertaining to Gramin Dak Sevaks, a one-man Committee under the Chairmanship of Shri Kamlesh Chandra, Retired Member Postal Services Board was set up.

(e) Yes, Madam. The committee has submitted its report. The salient feature of the report is given in the Annexure-IV.

(f) The recommendations of the committee are being examined by the Department of Posts. No timeline is specified to implement the recommendations of the Committee.

Source: Lok Sabha

Delay in pension revision allowing the benefit of merger of 50% DA/DR for BSNL Pensioners/Family Pensioners

Delay in pension revision allowing the benefit of merger of 50% DA/DR for BSNL Pensioners/Family Pensioners

Bharat Sanchar Nigam Limited
(A Government Of India Enterprise)
Corporate Office
(Pension Section)
5th Floor, Bharat Sanchar Bhawan, Janpath, New Delhi - 110 001

No.40-6/2011-Pen(B)

Dated: 24-03-2017

To
All Heads of Circles/Telecom Districts/Regions/Projects/Telecom Stores/Telecom Factories & Other Administrative Offices Bharat Sanchar Nigam Limited

Sub: Delay in pension revision allowing the benefit of merger of 50% DA/DR with Basic Pay/Pension to 78.2% DA/DR for BSNL Pensioners/Family Pensioners,who retired prior to 10-06-2013 - regarding.

Sir,
I am directed to forward herewith D.O.No.7-1/2013/TA-1/17/Pt./760 dated 07-03-2017 received from Member (Finance)-I/C, DOT, on the above mentioned subject, along with status of pension revision cases pending BSNL Unit-wise.

2. As directed by DOT in the aforesaid letter, all the Circles are requested to adhere to the timeline specified therein and submit complete pension papers and service books to the respective CCAs.

Encl: As above.

Yours faithfully,

(S.P.Bhatta)
Asstt.General Manager (Estt.I)
Tele.No.23037477

Prahlad Singh
Member (finance)-I/C
Tel No.23716161
Fax 23715762

Government Of India
Ministry Of Communications and
Information Technology
Department of Telecommunications

Sanchar Bhawan, 20, Ashok Road,
New Delhi - 110 001

Member (Finance) Telecom commission &
Ex-Officio Secretary to Govt. of India

D.O.No.7-1/2013/TA-1/17/Pt./760
Dated: 7th March,2017

I would like to bring to your attention the delay in the pension revision allowing the benefit of merger of 50% DA/DR with Basic/Pension to 78.2% DA/DR for BSNL pensioners/family pensioners, who retired prior to 10.06.2013. Though, the revision in all cases was to be completed by 31.12.2016 as per DoT HQ letter No.40-13/2013-Pen (T) dated 18.07.2016, there is still a huge pendency as on date and the BSNL employees welfare unions have been approaching DoT asking for early settlement of the same.

On review, it is seen that some units of BSNL are sending incomplete papers or are yet to send many of the cases to the CCA offices while there is also pendency in some of the CCA units also (copy of pendency status is enclosed). To complete the task in a structured time frame, concerted efforts both by the BSNL units and CCAs office is required. Target dates both for submission of pension papers and issue of PPOs has now been reviewed both for BSNL and CCA units, which is to be strictly complied to as per the timelines given below.

BSNL (submission of complete pension papers & service Books)		CCA (issue of revised PPOs)
Pre-2007	Post-2007	Pre-2007	Post-2007
15.03.2017	31.03.2017	31.03.2017	10.04.2017

You are requested to kindly give your personal attention for compliance of the target dates by the BSNL units, from you end.

with regards
Yours sincerely
Sd/-
(Prahlad singh)

Status of Revision of pension of BSNL Pensioners/Family Pensioners who retired prior to 10.06.2013 by allowing the benefit of merger of 50% DA/DR with Basic Pay/Pension effectively amounting to 78.2% DA/DR for the purpose of fitment. (as on 01.03.2017)

Signed Copy

RESTORATION OF OLD PENSION SYSTEM IN PLACE OF CONTRIBUTORY PENSION SYSTEM

RESTORATION OF OLD PENSION SYSTEM IN PLACE OF CONTRIBUTORY PENSION SYSTEM

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
RAJYA SABHA
UN STARRED QUESTION NO. 2130
TO BE ANSWERED ON MARCH 21, 2017/PHALGUNA 30, 1938 (SAKA)

RESTORATION OF OLD PENSION SYSTEM IN PLACE OF CONTRIBUTORY PENSION SYSTEM

2130. Shri T. G. Venkatesh

Will the Minister of FINANCE be pleased to state:

(a) whether it is a fact that the newly introduced Contributory Pension System is not beneficial to the employees and so the employees unions are requesting Government to re-introduce the old pension system in its place, if so, the details thereof; and

(b) whether any representation has been received in this regard by Government, if so, the details thereof and the stand of Government in this regard?

ANSWER

The Minister of State in the Ministry of Finance
(Shri Santosh Kumar Gangwar)

(a) & (b) National Pension System (NPS), which is a contributory pension system, has, inter alia, the following features which benefit the employees:

• NPS is a well designed pension system managed through an unbundled architecture involving intermediaries appointed by the Pension Fund Regulatory and Development Authority (PFRDA) viz. Pension Funds, Custodian, Central Recordkeeping and Accounting Agency, National Pension System Trust, Trustee Bank, Points of Presence and Annuity Service Providers. It is prudently regulated by PFRDA which is a statutory regulatory body established to promote old age income security and to protect the interests of subscribers of NPS.
• Dual benefit of Low Cost and Power of Compounding: The pension wealth which accumulates over a period of time till retirement grows with a compounding effect. The all-in-costs of the institutional architecture of NPS are among the lowest in the world.
•  Tax Benefits: Tax benefits are available to the NPS subscribers under various provisions of the Income- tax Act, 1961.
• Transparency and Portability is ensured through online access of the pension account by the NPS subscribers, across all geographical locations and portability of employments.
• Partial withdrawal: Subscribers can withdraw up to 25% of their own contributions towards their pension account, before attaining superannuation age for certain specified purposes subject to certain conditions.

Representations have been received from certain quarters regarding the implementation of NPS which, inter alia, include the demand that NPS may be scrapped and the Government may revert to old defined benefit pension system. However, there is no proposal to replace the NPS with old pension scheme in respect of Central Government employees recruited on or after 01.01.2004.

Source: RAJYA SABHA

Government gives nod to 200% hike in salaries of Supreme Court, High Court judges

Government gives nod to 200% hike in salaries of Supreme Court, High Court judges

New Delhi: The government has accepted the Supreme Court proposal for raising emoluments given to judges of the Supreme Court and high courts, commensurate with the recent hike in pay for central government staff. The Chief Justice of India (CJI) is the highest-paid functionary in the judiciary with his current monthly emoluments at Rs 1 lakh, excluding dearness and other allowances. This is likely to be raised to Rs 2.8 lakh, in addition to perks such as official residence, cars, staff and allowances as applicable.
The government has pegged the salaries of the chief justices of High Courts and Supreme Court judges at Rs 2.5 lakh per month, in addition to allowances, at the level of the cabinet secretary, the service chiefs and some constitutional functionaries such as the CAG and the CEC. The salary of an High Court judge has been pegged at Rs 2.25 lakh per month, same as that of secretary-level officers in the central government.

The hikes proposed by the Supreme Court committee have not been accepted in full. The three-judge panel had recommended a salary of over Rs 3 lakh per month for the CJI, besides other perks. The government has set the salary for the CJI at Rs 2.8 lakh per month, a little above what the cabinet secretary draws. The judges’ panel had also recommended a higher pension benefit for retiring judges. This again has been brought to the Seventh Pay Commission level in an equivalent grade.

A three-judge committee had given its recommendations to the government a few months ago with regard to salary hikes for judges. The recommendations were submitted soon after the implementation of the Seventh Pay Commission recommendations for central employees last year. A Cabinet note has been prepared and may be approved by the Union Cabinet soon, sources said. After the Cabinet clears the proposal, the law minister will bring a related judges’ salary amendment bill before Parliament.

Any change in judges salary and service condition has to be passed by Parliament. The salaries of judges of the high courts and the Supreme Court are revised every 10 years, almost on the lines of the hikes given to senior government functionaries.

TNN