Department of Posts has entered into an agreement for Speed Post service with Indian Air Force for period of three years with effect from 11th June, 2013.
Central retirement at 62 ...... Waiting for cabinet approval.!!!!!
A move is afoot to raise the retirement age of over five million central government employees from 60 to 62 years, citing the longer span of life enabling most to be fit to work, though ostensibly it may be keeping an eye on the Delhi Assembly elections due in November to influence over 80 per cent of them living in the capital.
The Ministry of Personnel and Training has forwarded a proposal in this regard to the Prime Minister's office (PMO) for inclusion in the agenda of the Cabinet for consideration, after securing consent of various ministries, sources said, claiming that it has an approval of the finance ministry. The decision will help immensely those on the verge of retirement to continue in service for two years.
The High Court judges already enjoy tenure up to 62 while the retirement age of the Supreme Court judges and the Election Commissioners is 65. The retirement age has also been raised to 62 in case of some key posts. It is already 62 years in case of the employees of the Madhya Pradesh government.
This will be the third time that the retirement age of the central staff is being raised and it is bound to have the cascading effect on the states coming under pressure from the employees' associations to follow suit.
It was raised from 55 to 58 by then Prime Minister Jawaharlal Nehru in 1962 after the war with China and then to 60 years by the then NDA government in 1998 on the recommendation of the central pay commission.
Holidays to be observed in Central Government Offices during the year 2014 - Dopt order
To view the details, please CLICK HERE.
Department of Posts to seek Cabinet nod for Rs 1,900 crore funds
Department of Posts has started inter-ministerial consultations for seeking Cabinet approval on around Rs 1,900 crore fund requirement to start Post Banks in the country.
"DoP will need around Rs 1,900 crore to start Post Banks in the country. This includes Rs 500 crore paid-up capital required under new banking licence guidelines and rest is for other capital adequacy norms that Post Banks will need to fulfil. Cabinet note has gone to various ministries to seek their views," a government official told PTI.
The Department of Posts (DoP) has plans to apply for banking licence to offer full-fledged banking services along with postal services through post offices.
The RBI has issued comprehensive guidelines for new bank licences. It has fixed July 1 as the last date for filing application by interested entities.
The DoP has proposed to start 50 bank branches in the first year and scale it to a total of 150 branched in 5 years.
There are around 90,000 bank branches in the country and provision of real-time banking services through postal network is estimated to triple the current banking network.
Finance Minister P Chidambaram in this year's Budget speech said Post offices will become part of the core banking solution ( CBS) and offer real time banking services. He proposed provision of Rs 532 crore for the project in 2013-14.
The Post Banks are proposed to be owned by DoP but with a completely independent board, governance structure and operations. It will have representation from Ministries of Finance and Communication & IT.
"DoP will need around Rs 1,900 crore to start Post Banks in the country. This includes Rs 500 crore paid-up capital required under new banking licence guidelines and rest is for other capital adequacy norms that Post Banks will need to fulfil. Cabinet note has gone to various ministries to seek their views," a government official told PTI.
The Department of Posts (DoP) has plans to apply for banking licence to offer full-fledged banking services along with postal services through post offices.
The RBI has issued comprehensive guidelines for new bank licences. It has fixed July 1 as the last date for filing application by interested entities.
The DoP has proposed to start 50 bank branches in the first year and scale it to a total of 150 branched in 5 years.
There are around 90,000 bank branches in the country and provision of real-time banking services through postal network is estimated to triple the current banking network.
Finance Minister P Chidambaram in this year's Budget speech said Post offices will become part of the core banking solution ( CBS) and offer real time banking services. He proposed provision of Rs 532 crore for the project in 2013-14.
The Post Banks are proposed to be owned by DoP but with a completely independent board, governance structure and operations. It will have representation from Ministries of Finance and Communication & IT.
Department of Posts to move cabinet note to apply for bank licence
The Department of Posts will move a Cabinet note in order to apply for a banking license by the stipulated deadline of July 1, a senior official has said, even as a top Finance Ministry went public with doubts over the efficacy of the post office being converted into a bank.
"We are moving a cabinet note now and after that we will be applying for the licence. After the cabinet note, we will go ahead with setting up the bank," Postal Services Board's member, planning, Suneeta Trivedi, told PTI here.
Trivedi asserted that the Department will be making the application by July 1, which is the last date set by the Reserve Bank for receiving applications.
The department of Posts has engaged consultancy firm Ernst & Young for helping it at the application stage by creating the "whole concept" of the bank and has already gathered all the know-how to enter the fray.
However, Department of Financial Services Secretary Rajiv Takru seemed to be not so much interested at the prospect of India Posts entering the banking fray.
There is a lot more to banking than merely having the reach and opening savings accounts, he told reporters, adding that it also involves very complex things at the back end and seemed to suggest that a Japan-like case, where the postal department has a bank, may not work in the country.
When asked about the same, Trivdei said, "We have worked out all on the know how, about everything. There is nothing like that" and added that there is no rethink on the part of the Postal department.
"We are moving a cabinet note now and after that we will be applying for the licence. After the cabinet note, we will go ahead with setting up the bank," Postal Services Board's member, planning, Suneeta Trivedi, told PTI here.
Trivedi asserted that the Department will be making the application by July 1, which is the last date set by the Reserve Bank for receiving applications.
The department of Posts has engaged consultancy firm Ernst & Young for helping it at the application stage by creating the "whole concept" of the bank and has already gathered all the know-how to enter the fray.
However, Department of Financial Services Secretary Rajiv Takru seemed to be not so much interested at the prospect of India Posts entering the banking fray.
There is a lot more to banking than merely having the reach and opening savings accounts, he told reporters, adding that it also involves very complex things at the back end and seemed to suggest that a Japan-like case, where the postal department has a bank, may not work in the country.
When asked about the same, Trivdei said, "We have worked out all on the know how, about everything. There is nothing like that" and added that there is no rethink on the part of the Postal department.
Transfers and postings of Junior Administrative Grade (JAG) officers of Indian postal Service, Group'A'.
To view Department of Posts (Personnel Division) Order No.2-8/2013-SPG(pt) dated 7th June, 2013 please Click Here.
Subscribe to:
Posts (Atom)