INDIA POST PAYMENT BANK AT A GLANCE
Wednesday, May 25, 2016
Monday, May 23, 2016
India Post Payments Bank Will Be Functional By March 17: IT Minister
He said the proposed India Post payments bank will have immense potential to sell third party product and services.
Hyderabad: India Post's payments bank will start functioning from March 2017 and serve as a wider platform to implement financial inclusion programmes, IT & Communications Minister Ravi Shankar Prasad said on Sunday.
"We are going to start the postal payments bank by March 2017. Very soon we will go to the Cabinet and postal payments bank will become operational from March 2017," Prasad told reporters here.
He said the proposed India Post payments bank will have immense potential to sell third party product and services. About 50 companies, including some from abroad, are keen to partner with postal department for the payments bank, like World Bank, Citi from America, Barclay's from England, he said.
Reacting to a query, he said these institutions will offer third party services like insurance products, mutual funds, banking instruments and a variety of financial instruments. Asked on the interest shown by these institutions, the minister said, "...that board will decide, I'm only saying value addition of postal department it is attracting so much global attention." "...they will decide how much to give them. It is a call they will take," he said.
The payments bank of postal department will become a big platform of financial inclusion, Prasad said. "We are going to invest about Rs 800 crore -- Rs 400 crore will be invested by the department and the remaining amount will be equity part (mobilised as equity)," he said.
"Postal department has the widest network in India. We have 1,54,939 post offices in the country, out of that 25,560 are departmental post offices and 1,29,379 are branch post offices," he said.
"Under (Prime Minister) Narendra Modi, we have decided to re-energise the postal department for India's growth and financial inclusion," he further said. In August 2015, the RBI had given in-principle approval to 11 entities to start payments bank, including the postal department.
The approval is valid for 18 months and all the entities are required to submit a detailed business plan after which they shall be given the final nod.
Shri Ravi Shankar Prasad addressed the Heads of Circles ( CPMGs ) Conference of Postal department at Hyderabad on 22-05-2016.
Awarded the best performing circles / divisions.
L to R 1) M. S. Ramanujan Member (HR) 2) T. Murthy Member (O) 3) S. K. Sinha Secretary (Posts) 4) Hon'ble MoC Shri Ravishankar Prasad 5) Ashutosh Tripathi Member (P) 6) Sanjeev Thapar Member (Tech)
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Dr. Charles Lobo CPMG Tamil Nadu Circle receiving award from Hon'ble MoC. Shri Stephen Mervin Alexander PMG Chennai City Region also seen in picture
Brig. B. Chandrasekhar, CPMG UP Circle receiving award from MoC
He categorically said, Government is committed to reform the postal department. Two unique qualities of Department of Posts are Extensive network spread in nook and corner of the nation and Emotional connect of Postman with the rural life.
India is at the tipping point of digital revolution and Postal department should be the fulcrum of economic development esp in rural life.
Postal department's share in E-commerce is around 15% only, which needs to be improved drastically. The entire ecosystem to reform the postal department needs to change..
1. Pick up points to reach the customers proactively to collect and deliver posts/ parcels.
2. India Post Payments Bank need to be flawlessly implemented . It should act as a platform for 3rd party services. Human Resource Training needs to be given. Postal Payment Bank should be started definitely by March 17
3. Implementation of IT modernization solutions needs to be improved. We keep getting complaints of glitches leading to harassment to customers
4. Parcel Delivery .. New ideas to generate revenue with Technology infusion. Geo tagging and better location identification needs to be considered.
5. Human Resource capacity building ... Need to incentivize the performance... Gud incentive at right time will be a big motivation. Best practices should be replicated pan India.
6. Good sign boards pan India should be ensured.
7. Metamorphosis of postal department should be branded well.
8. Surety of punishment is more important than Severity of punishment... in case of disciplinary cases. Any laxity in timely completion of disciplinary proceedings should be viewed seriously.
9. Philately should be ventured as a new source of revenue generation. My Stamp, Commercialisation of stamps need to be tried to earn revenues.
10. Social Media should be effectively used for complaint redressal and creation of awareness regarding departmental initiatives/ schemes.
11. He expect all of us to work hard.. to achieve the goals of government.
12. Recruitment to fill up vacant posts should be done in a transparent and fair means. Any irregularity should be viewed seriously and responsibility should be fixed..
13. Shri. Ravi Shankar Prasad Congratulated the Department of Posts for good work done in the last 2 years in different schemes like Sukanya Samriddhi Yojana, CBS, Postal ATMs, E-Commerce.
Frequently Asked Questions (FAQs) related to proposed India Post Payments BankClick here to view details
Thursday, May 19, 2016
GOOD NEWS
It has been informed by Shri Ashutosh Tripathi, Member(P), Postal Services Board , Department of Posts that Cadre Restructuring Proposal which was agreed and finalized by the Department of Posts after several rounds of discussions with Unions has been approved by the Finance Ministry and it will be implemented soon.
This is one of the great achievements of Unions as this has been done for the first time in Postal Department.
(R.N. Prashar)
Secretary General
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Thursday, May 12, 2016
CBS GO LIVE OF ANANDAPUR MDG IN KEONJHAR DIVISION ON 11.05.2016
An inaugural function was held at Anandapur MDG on the occasion of CBS GO LIVE on 11.05.2016. Shri A.B.Sahoo, retired Principal, Anandapur College inaugurated the function under the supervision of Sri D.P. Nayak, SPOs, Keonjhar. Sri Bishnu Prasad Nayak, IP, Anandapur, Sri A.K.Mishra, SA-cum-DS, AIPEU, Gr-C, Sri Ananta Ch. Sahoo, I\C, Postmaster, Sri Debadarshi Parida, Finacle PA and all other staff and members of public were present.
Tuesday, May 10, 2016
Government may not Scrap 145 year old Pension Act
A last-minute realisation may have saved the Central government from blowing away the legal cover available to authorities right from the President and Supreme Court judges to ministers and members of Parliament against any orders of attachment of their pensions from the courts.
The government had almost decided to axe the 145-year-old Pension Act in its zealousness to heed the Prime Minister’s call to scrap obsolete laws. But at a meeting held on April 28, minutes of which have been accessed by ET, several ministries pointed out that no other law protects government authorities from seizure or attachment of pension by process of any court at the instance of a creditor who raises a demand against the pensioner.
This led the government to consider doing away with some of the “irrelevant or redundant” provisions of the Pensions Act, 1871 instead of repealing it. The final decision will now be made by Prime Minister Modi, who heads the pensions department of the personnel ministry. The government has so far repealed 125 archaic laws.
It has proposed to scrap over 1,000 more such laws. The representative of the Department of Financial Services (DoFS) said at the meeting that the Pensions Act is applicable to pensions under a large number of rules and Acts of Parliament.
“He specifically mentioned that pensions of the President, vicepresident, ministers and MPs are regulated by Acts of Parliament.
Similarly, pensions of Supreme Court/high court judges, central vigilance commissioners, central information commissioners and members of UPSC are also granted under Acts regulating their service conditions. These Acts of Parliament do not contain provisions securing the pension against attachment,” the minutes recorded.
Only Section 11 of the Pensions Act provides this protection to the constitutional authorities. When the pensions department proposed that the rules regulating various types of pension be amended to secure the pension and hence facilitate repealing of the Pensions Act, all ministries raised objections.
The home ministry “expressed apprehension” that the protection against attachment by courts, if provided in rules, “may not be as effective” as that provided in an Act of Parliament.
The rural development department concurred, saying all social security pensions administered by it are through executive orders and any provisions for security against attachment by court “may not be effective” as the provisions will not have any statutory backing.
The ministries of environment, culture and external affairs, and the departments of telecom, expenditure and posts said they do not even administer any separate pension rules.
The financial services department said the government will have to amend all other Acts and rules regulating various kinds of pension to incorporate the safety net, if the Pensions Act is to be repealed.
It proposed that instead of amending a large number of Acts and rules, the Pensions Act may be amended to repeal only those provisions which have since become irrelevant or redundant.
“Ministries of home, labour, rural development, defence, railways and DoPT endorsed the views of the Department of Financial Services… the aforesaid views of the ministries/departments will be placed before competent authority for taking a decision in the matter,” the minutes noted.
Source: ET
Monday, May 9, 2016
ALL INDIA TRADE UNION EDUCATION CAMP-2016
2016 MAY 24th & 25th ----DEHRADUN (UTTARAKHAND)
COM: S. K.VYASJI AUDITORIUM
PROGRAMME
24th MAY 2016 - TUESDAY
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08.30 AM
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REGISTRATION
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09.30 AM
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FLAG HOISTING & HOMAGE TO MARTYRS
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10.00 AM
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INAUGURATION
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INAUGURATION & CLASS - 1 BY
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COM A.K.PADMANABHAN,
National President , CITU
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SUBJECT
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NEO-LIBERAL POLICY OFFENSIVES & TASK IN THE TRADE UNION FRONT
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01.00 PM
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LUNCH BREAK
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02.00 PM -- CLASS- II BY
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DR.S.P.KASHYAP ,
Eminent Scholar,
Retd. Principal, R.B.S. Degree College, Agra
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SUBJECT
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TRADE UNION & SOCIAL ISSUES
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04.30 PM -- CLASS - III ----BY
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COM: K.K.N. KUTTY,
National President , Confederation
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SUBJECT
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7th CPC RECOMMENDATIONS AND OUR TASK
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06.00 PM
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NATIONAL EXECUTIVE COMMITTEE MEETING OF CONFEDERATION
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08.30 PM
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DINNER
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25th MAY 2016 – WEDNESDAY
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09.30 AM - CLASS - IV ----- BY
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DR. VENKATESH ATHREYA,
Renowned Economist
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SUBJECT
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CHOICE BEFORE HUMANITY –
SOCIALISM OR DESTRUCTION
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01.00 PM
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LUNCH BREAK
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02.00 PM -- CLASS - V ----- BY
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COM : M. KRISHNAN,
SECRETARY GENERAL, CONFEDERATION
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SUBJECT
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60 YEARS OF CONFEDERATION –
SAGA OF STRUGGLE,
SACRIFICE AND ACHIEVEMENTS
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03.30 PM
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INTERACTION WITH CONFEDERATION LEADERS & CAMP REVIEW
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05.00 PM
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END
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To
(1) All Affiliated Organisations of Confederation
(2) All C-O-Cs
(3) All CHQ Office Bearers of Confederation
(4) All Women Sub Committee members
(2) All C-O-Cs
(3) All CHQ Office Bearers of Confederation
(4) All Women Sub Committee members
Please ensure participation of delegates from each affiliate and C-O-Cs as per quota fixed.
(M. KRISHNAN)
Secretary General
Confederation
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