New Kisan Vikas Patras may fail to generate investors' interest

The new Kisan Vikas Patra (KVP) has been launched with much fanfare but experts doubt if they will generate interest among urban investors. "There are many fixed-income products that offer higher returns compared to these new KVPs," says Delhi-basedtax consultant Surya Bhatia.

The Public Provident Fund (PPF), for instance, offers 8.7% tax-free returns. But the interest earned on KVPs is fully taxable, so the post-tax return for someone earning more than Rs 10 lakh a year gets pared down from 8.7% to a niggardly 6% (see table). The only difference is the Rs 1.5 lakh annual investment limit in the PPF. There is no upper limit for investments in the KVPs.

But bank deposits don't have investment limits as well. Small private banks such asLakshmi Vilas Bank and Karnataka Bank and a few PSU banks are offering up to 9% on fixed deposits of 8-10 years, making them a better proposition than KVPs.

Senior citizen investors should also stay away from these re-launched instruments. They can get 25-30 basis points higher interest on bank deposits. Besides, the Senior Citizens' Savings Scheme offers them 9.2% as well as tax benefits under Section 80C. The post-tax returns in the 30% bracket work out to 35 basis points higher than what KVPs offer. The only disadvantage is the Rs 15-lakh investment limit per individual in the Senior Citizens' Saving Scheme.

Financial planners say the new KVPs should appeal to the unbanked population in rural areas. Cheque books and bank accounts are not necessary and investments and the maturity amount can be in cash. "The rural population will find these products useful. But these KVPs are irrelevant for urban investors who have access to regular banking," says Pankaaj Maalde, head of financial planning, Apnapaisa.com.

However, the acceptance of cash doesn't mean these instruments can be used for money laundering. The government has clarified that investors will have to comply with KYC rules applicable to other small savings schemes of the post office.

KVPs can be transferred to another person any number of times. Though this will improve liquidity, financial planners fear that financially-illiterate investors might lose out if they miscalculate the accrued interest and sell the bonds at a discount.

PSU tax-free bonds traded in the secondary debt market offer a better deal to investors because the price factors in the interest accrued till that day. These tax-free bonds are offering a better posttax yield of about 7.2% right now. Besides, there is also the possibility of capital gains if interest rates are cut.

For more evolved investors, fixed maturity plans and debt funds can be the best way to invest in debt. The returns after indexation can be significantly higher than what these KVPs are offering.

Source:-The Economic Times

Hon'ble MoC&IT took a review meeting on e-Commerce with senior officers of the Department of Posts on 19th November 2014 at Dak Bhawan, New Delhi

 

Procedure for grant of permission to the pensioners for commercial employment after retirement - revision of Form 25.

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NFPE * FNPO * AIPEU-GDS (NFPE) * NUGDS

NATIONAL FEDERATION OF POSTAL EMPLOYEES

FEDERATION OF NATIONAL POSTAL ORGANIZATIONS

ALL INDIA POSTAL EMPLOYEES UNION GDS (NFPE)

NATIONAL UNION OF GRAMIN DAK SEWAKS (FNPO)

CENTRAL HEAD QUARTERS, NEW DELHI – 110001

 

Dated – 11.11.2014

POSTAL JOINT COUNCIL OF ACTION DECIDES TO GO FOR INDEFINITE STRIKE DURING THE THIRD WEEK OF FEBRUARY 2015. DATE OF STRIKE WILL BE DECLARED IN THE

2014 DECEMBER 4^TH PARLIAMENT MARCH

Government and Postal board are totally negative and insensitive towards the demands of five lakhs Postal and RMS employees including Gramin Dak Sewaks and Casual, Part-Time Contingent employees.

EVERY DEMAND IS EITHER REJECTED OR INDEFINITELY DELAYED
1	Inclusion of Gramin Dak Sewaks under 7th Central Pay Commission and grant of civil servant status	Rejected. Government decided to appoint separate committee with the approval of recognised GDS union.
2	Casual Labour wage revision and regularistaion	Pending for the last six years. Revision of wages due from 01.01.2006. File still pending with Government. Poor employees are starving.
3	Cadre restructuring of Postal, RMS, MMS, Admin, Postal Accounts employees	Long pending in the Directorate. No improvement.
4	Merger of DA with Pay	Rejected by Government
5	Grant of Interim Relief	Rejected by Government
6	Date of effect of 7th CPC from 01.01.2014	Government not ready to give any direction to 7th CPC.
7	Scrap New Pension Scheme.	Rejected by Government
8	Remove 5% ceiling for compassionate appointments	Government not ready to remove the condition.
9	GDS Medical reimbursement scheme	Pending for last six years
10	MACP anomalies including promotees case	Rejected inspite of several CAT/Court Judgment
11	Postmaster Cadre related issues including permission to write IP/PS Group ‘B’ exam and parity with LSG, HSG-II regarding service length for promotion.	Still pending. Attitude of the Department is totally negative.
12	System Administration case	Rejected. Not ready to consider the demands on its merits.
13	RTP service regularization	Rejected. Inspite of CAT orders not ready to issue general order
14	SBCO related issues	Rejected on flimsy grounds.
15	Postmen related issues	No progress
16	Parity in cash handling allowance	Rejected.
17	Counting of Accountants special Allowance for pay fixation on promotion	Rejected.
18	Computer and Technology related several issues	No progress. Situation worsening day by day. Employees are suffering. Public agitated
19	Harassment of staff on account of CBS & CIS	Still continuing
20	Allotment of funds for sanctioning all pending Medical, TA, OTA and RPLI/PLI incentives	No progress. Bills pending for months together
21	Overtime allowance revision	Pending for 27years
22	Circle processing centers (CPO) of PLI/RPLI at CO/ROs and stop redeployment of posts	Rejected
23	Sunday, Holiday compulsory working	Still continuing in certain circles
24	Office Building and staff quarters cases	No progress. Situation worsening. Staff are suffering
25	MNOP related issues	Suggestion of staff side rejected
26	Quality of uniforms, Chapplas and kit-items	No improvement
27	Chennai Postal Accounts victimization	Still pending
28	Stop Postmen/MTS open market outside recruitment	Still pending. No progress
29	Filling up of all vacant posts including canteen employees	Slow progress
30	Creation of justified new posts	Total Ban imposed on creation of new posts
31	Prompt convening of Monthly meeting, Bi-monthly/four monthly meetings, JCM Regional Council meeting, JCM Departmental Council meeting, Formal meeting with Secretary (Posts)	Periodicity is not maintained. In many divisions. Circles no meeting is held for months together
32	Prompt holding of Departmental promotion committees (CPCs)	No progress

Dear Friends and Comrades,

Meeting of the Postal Joint Council of Action was held on 11.11.2014 at New Delhi. Shri D. Theagarajan, Secretary General, FNPO presided. Com. R. N. Parashar, Secretary General, NFPE presented agenda items for discussion. General Secretaries of affiliated Unions/Associations of NFPE & FNPO attended. Com. M. Krishnan, Ex-Secretary General of NFPE was also present in the meeting. PJCA reviewed the progress in settlement of 39 points charter of demands submitted to Secretary, Department of Posts on 28.08.2014. PJCA came to the unanimous conclusion that not even a single issue is settled by the Government and Department. Employees are suffering but authorities are turning a deaf year towards their genuine demands. Rome is burning but Neros are fiddling.

None of our demand is unjustified. Five lakhs Postal and RMS employees including Gramin Dak Sewaks and Casual, Part-time, contingent employees cannot remain as mute spectators. There is a limit for our patience. Government and Postal Board are treating our patience as our weakness.

Taking into consideration all the above aspects, the PJCA unanimously took the following decision.

1.      Entire five lakhs employees of the Department of Posts will go on indefinite strike from the third week of February 2015, if the demands are not settled before 31.12.2014.

2.      The date of the indefinite strike will be declared in the 4^th December 2014 Parliament March.

3.      Every effort should be made by all All India/Circle/Divisional Unions to ensure maximum participation of employees in the Parliament March. Minimum 20000 employees should participate in the March. All should bring flags and banners.

4.      Laaders of INTUC, CITU, AITUC & JCM National Council staff side will be invited to address the Parliament March.

5.      Next PJCA meeting will be held on 03.12.2014 at 5 PM to decide the date of indefinite strike.

Let us march ahead with Determination and courage. This is time to show your sincerity towards the cause of five lakhs employees of the Department of Posts. Let us make the parliament March a Historic success. Let us unite together and make the indefinite strike a Thundering success. Let the Government and Postal Board understand that we are not Dumb-Driven cattle. We are workers and not beggars.

AWAKE! ARISE!! UNITE!!

Come in the Thousands to the Parliament March

Let us declare the indefinite strike in the presence of 20000 Postal Employees on 4^th December 2014

Yours sincerely,

R. N. Parashar                                                                                     D. Theagarajan

Secretary General, NFPE                                                                     Secretary General, FNPO       

P. Pandurangarao                                                                                P. U. Muraleedharan

General Secretary                                                                               General Secretary

AIPEU-GDS (NFPE)                                                                               NUGDS (FNPO)

NATIONAL FEDERATION OF POSTAL EMPLOYEES

1^st Floor, North Avenue Postal Office Building, New Delhi – 110001

FEDERATION OF NATIONAL POSTAL ORGANISATIONS

T-24, Atul Grove Road, New Delhi – 110001

 

No.PJCA/AGTN/2014                                                                             Dated – 12.11.2014

To,

Ms. Kaveri Banerjee

Secretary,

Department of Posts

Dak Bhawan, New Delhi – 110001

Madam,

Sub: - Programme of agitation by Postal Joint Council of Action (PJCA)

Ref: -   (1) Charter of Demands submitted by PJCA on 28.08.2014

            (2)  Your office letter No. f. No. 8-10/1997-SR (SR Section Dated 29.10.2014

Meeting of the Postal Joint Council of Action held on 11.11.2014 reviewed the reply given by the Department to the Charter of demands submitted by PJCA on 28.08.2014 and also the progress made in settling the demands.

The PJCA meeting came to the unanimous conclusion that not even a single demand is settled and no positive approach in settling the demands is reflected in the action taken report. The PJCA is totally disappointed to read the reply. Discontentment among employees are growing day by day. Further it is noted that as many as 58 items submitted for discussion in the JCM (Departmental Council) was disallowed even without giving an opportunity to the staff side to explain the position on each case.

In view of the above position the Postal Joint Council of action unanimously decided to further intensify the agitational programmes. Accordingly the following decisions are taken.

1.      Entire five lakhs employees of the Department of Posts shall go on indefinite strike commencing from the third week of February 2015.

2.      Date of commencement of the indefinite strike will be declared in a massive Parliament March to be held on 4^th December 2014. 20000 Postal and RMS employees including Gramin Dak Sewaks and Casual, Part-Time, Contingent employees will participate in the Parliament March, which will be addressed by the leaders of PJCA and leaders of Central Trade Unions and JCM National Council Staff side.

This is for your information and necessary action.

Yours faithfully,

R. N. Parashar                                                                                     D. Theagarajan

Secretary General                                                                               Secretary General

NFPE                                                                                                    FNPO

Happy Karttika Purnima

ATTENTION BRANCH / DIVISIONAL / CIRCLE SECRETARIES

2014 DECEMBER 4^TH

20,000 POSTAL AND RMS EMPLOYEES WILL MARCH TO PARLIAMENT

TO PROTEST AGAINST THE NEGATIVE ATTITUDE OF THE GOVERNMENT TOWARDS POSTAL EMPLOYEES INCLUDING GRAMIN DAK SEWAKS AND CASUAL LABOURERS

December 4^th is nearing. Massive preparation are going on in every circle of the country. We are receiving very encouraging reports from circles. Kerala Circle which is far away from Delhi (Up & Down Six days train journey) has already booked ticket for 600 comrades. Total expenditure for Kerala Circle alone will come to Rs. 24,00,000/- (Rs. Twenty Four Lakhs). From Tamilnadu Circle also more than 400 comrades have already booked their tickets. Highest number of employees will participate from nearby circles of Delhi i.e. Uttar Pradesh, Rajasthan, Punjab, Haryana, Himachal Pradesh, Bihar, Uttarakhand etc. All other circles are also trying their best to mobilize maximum number of employees in the March.

Please ensure that number of employees as per the Quota fixed by the CHQ of each affiliated union participate in the historic parliament march WITHOUT FAIL. Please rise up to occasion. Wake up and act as responsible leaders of NFPE.