Showing posts with label banks. Show all posts
Showing posts with label banks. Show all posts

Tuesday, 15 May 2018

E-Pension Payment Order: New Step in the Right Direction

Ministry of Defence
E-Pension Payment Order: New Step in the Right Direction
14 MAY 2018
Furthering the Digital India-initiatives of Govt. of India, Principal Controller of Defence Accounts(Pensions), Allahabad has startedissuance of electronic-Pension Payment Orders (e-PPOs) to the pensioners along with their Pension Disbursement Agencies viz., Banks, Defence Pension Disbursement Offices, Post Offices, etc. What began in the first phase, for all Commissioned Officers and JCOs/ORs of Armed Forces from the month of October 2017, has now been extended to all defence pensioners including defence civilians.

Principal Controller of Defence Accounts (Pensions), Allahabad is the sole agency under Ministry of Defence which sanctions Pensions for the Defence Services viz., Army, Coast Guard, Defence Research and Development Organization,General Reserve Engineer Force, Border Roads Organization, Military Engineering Services and other Defence organisations including Defence Account Department and Defence Civilians.

The shift from manual system to e-PPO system is expected to minimize delays in pension disbursement and further revision as and when needed. This initiative also eliminates the occurrence of human errors in data entry at multiple levels.

PIB

Wednesday, 30 August 2017

OBC reservations: Cabinet approves equivalence of posts in Central Public Sector Undertakings (PSUs), Banks, Insurance Institutions with Posts in Government


Cabinet approves equivalence of posts in Central Public Sector Undertakings (PSUs), Banks, Insurance Institutions with Posts in Government so that the children of those serving in lower categories in PSUs and other institutions can get the benefit of OBC reservations 

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval to the norms for establishing equivalence of posts in Government and posts in PSUs, PSBs etc. for claiming benefit of OBC reservations. This addresses an issue pending for nearly 24 years. This will ensure that the children of those serving in lower categories in PSUs and other institutions can get the benefit of OBC reservations, on par with children of people serving in lower categories in Government. This will also prevent children of those in senior positions in such institutions, who, owing to absence of equivalence of posts, may have been treated as non Creamy Layer by virtue of wrong interpretation of income standards from cornering government posts reserved for OBCs and denying the genuine non creamy layer candidates a level playing field.

The Union Cabinet also approved the increase in the present income criterion of Rs. 6 lakh per annum for applying the Creamy Layer restriction throughout the country, for excluding Socially Advanced Persons/Sections (Creamy Layer) from the purview of reservation of Other Backward Classes (OBCs). The new income criterion will be Rs. 8 lakh per annum. The increase in the income limit to exclude the Creamy Layer is in keeping with the increase in the Consumer Price Index and will enable more persons to take advantage of reservation benefits extended to OBCs in government services and admission to central educational institutions.

These measures are a part of the Government's efforts to ensure greater social justice and inclusion for members of the Other Backward Classes. The Government has already introduced in Parliament, a bill to provide Constitutional status to the National Commission for Backward Classes. It has also decided to set up a Commission, under section 340 of the Constitution, to sub categorize the OBCs, so that the more backward among the OBC communities can also access the benefits of reservation for educational institutions and government jobs. All these decisions, taken together, are expected to ensure greater representation of OBCs in educational institutions and jobs, while also ensuring that the more under-privileged within the category are not denied their chance of social mobility.

Background:
In its judgment dated 16.11.1992 in WP(C) 930/1990 (IndraSawhney case) the Supreme Court had directed the Government to specify the basis, for exclusion of socially and economically advanced persons from Other Backward Classes by applying the relevant and requisite socio-economic criteria.
An Expert Committee was constituted in February 1993 which submitted its report on 10.03.1993 specifying the criteria for identification of socially advanced persons among OBCs i.e. the Creamy Layer. The report was accepted by the then Ministry of Welfare and forwarded to DoPT which issued an OM dated 08.09.1993 on exclusion from the Creamy Layer.

The OM of 08.09.1993 specifies six categories for identifying Creamy Layer (a) Constitutional/Statutory post (b) Group 'A' and Group 'B' Officers of Central and State Governments, employees of PSUs and Statutory bodies, universities, (c) Colonel and above in armed forces and equivalent in paramilitary forces (d) professionals like Doctors, Lawyers, Management Consultants, Engineers etc. (e) Property owners with agricultural holdings or vacant land and/or buildings and (f) income/wealth tax asessee.

The OM further stipulates that the said parameters would apply mutatis mutandis to officers holding equivalent or comparable posts in PSUs, Banks, Insurance Organizations, Universities, etc. and Government was required to determine equivalence of positions in these organizations with those in Government.
Pending the equivalence to the established in these institutions Income criteria would apply for the officers in these Institutions.

However, this exercise of determining the equivalence of posts in Government and posts in PSUs, PSBs etc. had not been initiated. The determination of equivalence of posts has been thus pending for almost 24 years.
The matter of formulating equivalence has since been examined in detail. In PSUs, all Executive level posts i.e. Board level executives and managerial level posts would be treated as equivalent to group 'A' posts in Government and will be considered Creamy Layer. Junior Management Grade Scale-1 and above of Public Sector Banks, Financial Institutions and Public Sector Insurance Corporations will be treated as equivalent to Group 'A' in the Government of India and considered as Creamy Layer. For Clerks and Peons in PSBs, FIs and PSICs, the Income Test as revised from time to time will be applicable. These are the broad guidelines and each individual Bank, PSU, Insurance Company would place the matter before their respective board to identify individual posts.

PIB

Wednesday, 1 March 2017

Timely commencement of family pension in favour of spouse by banks in the event of death of the pensioners


Timely commencement of family pension in favour of spouse by banks in the event of death of the pensioners

Government Of India
Ministry Of Finance
Department of Expenditure
Central Pension Accounting Office
Trikoot-II, Bhikaji Cama Place
New Delhi : 110 066
Phones: 26174596,26174456,26174438
CPAO/IT&Tech/Bank Performance/2016-17/255

Office Memorandum

Subject: Timely commencement of family pension in favour of spouse by banks in the event of death of the pensioners.

Attention is invited to this Office OM No. CPAO/Tech/Banks Performance/2015­16/45 dated-02.06.2016[Sl. No. (i) a & (i) b] followed by minutes of the meeting dated­22.08.2016[Para II-(b)] on the above subject whereby Heads of all the CPPCs and Government Business Divisions of the Banks were advised to Commence the family pension to the spouse immediately on receipt of death certificate of the pensioner, proof of spouse age/date of birth and undertaking of recovery of excess payment latest within a month. However, analysis of reports prepared in CPAO regarding time taken in conversion of pension to family pension in favour of spouse of deceased pensioners shows inordinate delay in many cases. The details of these cases are available in CPPC logins on http://eppo.nic.in.

In view of the above, Heads of CPPCs and Government Business Divisions of the banks are advised to review the attached delay report and ensure compliance of the above instructions and submit the status report to CPAO along with reasons for delay by 8th March, 2017 positively by e-mail at vijay.17@gov.in

S/d,
(Subhash Chandra)
Controller of Accounts
Phone No. 26174809
Encl: As above
Central-Pension-Accounting-Office

Signed copy

Saturday, 4 February 2017

Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April 2017 under X BPS/ Joint Note dated 25.5.2015


Indian Banks' Association has issued Circular regarding Increase in DA for Bank Employees and officers from February 2017

Indian  Banks' Association
HR & Industrial Relations
No.CIR/HR&IR/76/D/2016-1711996
February 1, 2017
All Members  of the Association
(Designated  Officers)

Dear Sirs,
Dearness  Allowance  for Workmen and Officer Employees  in banks  for the months of February, March  & April  2017 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base1960= 100) for the quarter ended December 2016 are as follows:-

October 20166345.60
November 20166322.77
December 20166277.12

The average CPI of the above is 6315 and accordingly the number of DA slabs are 469(6315-4440= 1875/4= 469  Slabs) The last quarterly Payment of DA was at 478 Slabs.  Hence there is a decrease in DA slabs of 9, i.e 469 Slabs for payment of DA for the quarter February, March & April 2017.

In terms of clause 7 of the 101h  Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of February, March & April  2017 shall be 46.90  % of  'pay'. While arriving at dearness  allowance payable, decimals from third  place  may please  be ignored.

We advise banks to pay the difference between the old and revised salary and allowance to officers on an ad hoc basis, pending amendments to Officers' Service Regulations.
Yours faithfully,
K S Chauhan
Senior Vice President
Source : IBA

Saturday, 19 November 2016

Instruction to Banks for Advance Salary to Central Government Employees

Instruction to Banks for Advance Salary to Central Government Employees

Government of India
Department of Expenditure
Office of Controller General of Accounts
Mahalekha Niyantrak Bhawan
Block-E, G.P.O. Complex, I.N.A., New Delhi-110023
Ph:No.011-24665337-40/Fax No.011-24627678

No.S-11012/1(6)/Banks/2016-17/RBD/1815-47
Dated: 18.11.2016
To
Shri P.Vijaya Kumar,
Chief General Manager,
Reserve Bank of India
Department of Currency Management,
Central Office, 4th Floor, Amar Building,
Sr.P.M.Road, P.B.No.1379,
MUMBAI - 400001
FAX NO:022-22662442
Sir,
This is with reference to Ministry of Finance, Department of Expenditure OM No.25(30)/E.Coord/2016, dated 17th November 2016 regarding release of Part Salary in advance amounting to Rs.10000/- form the salary for the month of November 2016 in the form of Cash Pay-out to all Non Gazetted Employees of Central Government. Also refer your office letter dated 11.11.2016 which mentions that Government Departments may be allowed to draw cash beyond the stipulated limit of Rs.10,000/- in exceptional cases only on production of evidence justifying their cash requirements in writing.

Necessary instructions may please be issued immediately to all the banks in view of the Ministry of Finance OM dated 17.11.2016 referred above to enable Govt. offices to release advance salary as per above mentioned OM.
Yours faithfully,
sd/-
(Dr.Shakuntla)
Joint Controller General of Accounts
Click to view the order
Authority: www.finmin.nic.in

Friday, 18 November 2016

Banks to not exchange Rs. 2000 notes tomorrow, exception for senior citizens only

Banks to not exchange Rs. 2000 notes tomorrow, exception for senior citizens only

Mumbai: Keeping in view that all banks have been working on overdrive since the Centre announced demonetisation, the Indian Bank Association (IBA) on Friday announced that all banks across the nation will not exchange over the counter the new 2000 rupee notes on Saturday in order to update their pending works and tend to their respective customers.

Speaking to ANI here, IBA Chairman Rajeev Rishi stated that ever since demonetisation was announced, all banks have been working for extended hours including holidays to ensure the public at large was not inconvenienced.

“In fact, we have diverted all human resource to make sure that all those who stood in queues got their money exchanged, deposited and withdrawn. In the process what we have felt is that in the last one week our own customers have actually suffered. Routine works are not done and routine works are pending in banking activities,” he said.

However, senior citizens are exempted from the directive and banks will be accepting all their requests.

“We have taken a view that on Saturday, the banks shall not be doing exchange over the counter of 2000 rupees. We will make an exception for senior citizens. But tomorrow we will spend trying to update our works and do the works in relation to our own customers,” Rishi added.

Asserting that the time tomorrow will be used for meeting the needs of their own customers, the chairman further said that all banks will be observing their normal hours and will ensure their patrons get the full service and undivided attention in other matters.

ANI

Tuesday, 15 November 2016

Jan Dhan Account holders are requested not to allow their accounts to be misused by anyone : Government Press Release

The Prime Minister Shri Narendra Modi reviewed the position for the second consecutive day yesterday regarding the smooth supply and availability of currency notes; Among major decisions taken during the Meeting include to continue to give highest importance to ensure convenience for the public

Use of Indelible ink for over the counter exchange against old Rs.500/- and Rs.1000/- notes; Arrangements to make available adequate cash to the Postal Department for their use including the branch Post Offices.

The Prime Minister Shri Narendra Modi reviewed the position with regard to supply and availability of currency notes for the second consecutive day yesterday (14.11.2016) late evening. The Meeting, which went on till about midnight, was attended among others by the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley, Minister of State (Independent Charge) for Coal & Power, Shri Piyush Goyal, Principal Secretary to the Prime Minister Shri Nripendra Misra and Additional Principal Secretary to the Prime Minister, Dr. P.K.Mishra, Cabinet Secretary, Shri P.K.Sinha, Governor, RBI, Dr. Urjit R Patel, Secretaries from the Finance Ministry and other officials from PMO. A detailed review was made with regard to the steps that have been taken for smooth distribution and dispensing of cash through various channels of disbursement.

After detailed discussions, the following decisions were taken:

1. Highest importance should continue to be given to ensure convenience for the public. Effort should be made to avoid long queues in Bank branches, ATMs, etc. Already separate queues for senior citizens, divyang persons etc. have been announced. The drawing limits against Bank Accounts and from ATMs and over the cash disbursement have also been increased. It was noted that one of the primary reasons for long queues was that the same persons were visiting Bank branches, ATMs etc. repeatedly. It was also noted that certain unscrupulous elements are using the services of poor and innocent people to convert their black money into white.

To prevent such misuse of the facility and enable larger number of persons to draw cash, indelible ink used during elections shall be used for over the counter exchange against old Rs.500/- and Rs.1000/- notes. This is not applicable in the case of withdrawal from or deposit into accounts.
Cash disbursement points, especially Bank branches will be advised to put-up notices outside their branches advising people to avoid exchange of old notes over the counter multiple times.

2. Already instructions have been issued permitting District Central Cooperative Banks (DCCBs) for cash withdrawal from existing accounts, subject to limits applicable in the case of Banks. Arrangements have been made to enhance the availability of cash with the DCCBs.

3. Arrangements have been made to make available adequate cash to the Postal Department for their use including the branch Post Offices. There are 1.3 lakh branch Post Offices having wide coverage in the rural areas. Availability of adequate cash with the branch Post Offices will ensure wider coverage of the rural areas.

4. Contributions are made in hundis and separate boxes in places of worship. Such establishments have their accounts with the Bank branches. Bank branches have been advised to approach the concerned authorities in these establishments to obtain the currency notes, especially of lower denomination and put them back into circulation. This will help in improving the circulation of lower denomination currency notes.

5. Information has been received that there is sudden spurt in the quantum of deposits in several Jan Dhan Accounts. There are also reports of unscrupulous elements using Jan Dhan Accounts of poor and innocent persons to convert their black money into white. Such spurt in deposits will be looked into closely. Jan Dhan Account holders are requested not to allow their accounts to be misused by anyone. Further, it is also clarified that Jan Dhan Account holders will not be put to any kind of inconvenience for carrying-out their legitimate activities.

6. Old Rs.500/- and Rs.1000/- notes are accumulating in Post Offices and Bank branches. Special efforts will be made to shift such notes and create space in the Post Offices and Bank branches to receive new notes.

7. A high level Task Force consisting of representatives from various agencies is being set-up to monitor movement/receipt of fake notes in vulnerable areas. This Task Force will also take special efforts to monitor black money being deposited into Bank/Postal Accounts, especially under fictitious and other names.
8. A technology team is being set-up to popularize the use of e-wallets.

9. Government is closely monitoring the supply of essential commodities.

10. A coordination group chaired by the Cabinet Secretary and including representatives of various Departments and major Banks is holding regular meetings to monitor the implementation of all the steps.


Wednesday, 13 July 2016

Bank employees to observe one-day strike on July 29

Bank employees to observe one-day strike on July 29

Chennai: Public and private sector bank employees have decided to observe a day-long strike on July 29 to oppose the “anti-people” banking reform policies of the Centre, AIBEA said today.

The United Forum of Bank Unions (UFBU) consisting of nine trade unions across the country representing 10 lakh bank employees and officers would observe the strike.

They are pressing for various demands including not to privatise public sector banks and increase private capital in such banks, and also protesting against FDI in banking sector.

Besides, the unions oppose move to privatise regional rural banks, co-operative banks, consolidate and merging banks among others, All India Bank Employees Association (AIBEA) General Secretary C H Venkatachalam said in a statement.

The decision to go on strike was taken at the meeting here organised by UFBU.

PTI

Thursday, 14 April 2016

All Banks asked to calculate 6% Dearness Relief for central government pensioners

All Banks asked to calculate 6% Dearness Relief for central government pensioners

All banks have been asked to calculate revised amount of pension following the recent six per cent hike in Dearness Relief (DR), the Centre has said.

The President is pleased to decide that the DR payable to central government pensioners and family pensioners shall be enhanced from the existing rate of 119 per cent to 125 per cent with effect from January 1, 2016,” an order issued by Ministry of Personnel, Public grievances and Pensions said.

“It will be the responsibility of the pension disbursing authorities, including the nationalised banks, etc. to calculate the quantum of DR payable in each individual case,” the order F.No.42/06/2016-P&PW(G) issued on Monday said.

There are about 58 lakh pensioners.

The Union Cabinet had on March 23, approved release of an additional instalment of Dearness Allowance (DA) to central government employees and DR to pensioners from this year onwards to compensate for price rise.

The combined impact on the exchequer on account of both DA and DR would be of Rs 6,796.50 crore per annum and Rs 7,929.24 crore respectively, in the financial year 2016-17 (for a period of 14 months from January, 2016 to February, 2017).

The offices of Accountant General and authorised pension disbursing banks are requested to arrange payment of relief to pensioners etc. on the basis of this instruction without waiting for any further orders from the Comptroller and Auditor General of India and the Reserve Bank of India, the order said.

PTI

Saturday, 14 November 2015

Use of modified format of Life Certificate by all banks

Use of modified format of Life Certificate by all banks

CENTRAL PENSION ACCOUNTING OFFICE
TRIKOOT-II, BHIKAJI CAMA PLACE,
NEW DELHI-110066
PHONES : 26174596, 26174456, 26174436
CPAO/IT&Tech/Jeevan Praman/2015-16/1680
dated 09.11.2015
Office Memorandum

Subject:- Use of modified format of Life Certificate by all banks

Attention is invited to this office OM No. CPAO/IT&Tech/Scheme Booklet/2015-16/1666 dated 16.10.2015 directing the banks to ensure that modified format of Life Certificate is used by all paying branches which also provides for acknowledgment to Pensioners. Vide Correction slip no. 24, dated 12.10.2015, the Life Certificate has been modified and circulated to all concerned. The updated format of Life Certificate has also been provided on CPAO’s website i.e. www.cpao.nic.in.

It has been noticed that some banks are still using their own or old format of Life Certificate which is not proper. Therefore, Heads of Government Accounts/Business Department/Head of CPPCs of all the banks are requested once again to issue urgent instructions to all their branches to use only modified format of Life Certificate prescribed by CPAO and provide acknowledgment to Pensioners.

This issues with the approval competent authority.
(Vijay Singh)
Sr. Accounts Officer (Tech)
Signed copy Click here

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