Post Bank Coming to a reailty

Government allots Rs 1,300crore to Post Bank

NEW DELHI: The expenditure department has decided to sanction Rs 1,300 crore to the proposed Post Bank of India to meet its capital requirements even as the department of financial services (DFS) - the wing in the finance ministry that deals with state-run banks and their poliiies – chose to stay away from the issue.

The proposal's backing by the expenditure finance commission and its subsequent green light by finance minister P Chidambaram is seen as the official go-ahead by the finance ministry, ignoring the DFS's stance. The DFS position is seen as the first instance of the agency not backing the Post Bank's plan, which officers in the department have privately mocked at.

"They think they can use the postal deposit model for their banking foray. Nothing in their plan seems to be clear. Banking isn't easy," said an officer, who did not wish to be identified. In fact, a strong Post Bank is seen to be the biggest challenge to existing public sector banks, including State Bank of India, which controls 70% of the banking business in the country. SBI, the largest lender, has a little less than 15,000 branches, while there are over 1.5 lakh post offices across the country.

Although Post Bank does not intend to open a bank branch in each post office, the plan is to use postmen to meet the financial inclusion goal. Secretary (posts) P Gopinath refused to speak to TOI despite several attempts.

According to the plan, Post Bank will have 50 branches in the first year, which will be increased to 150 by the fifth year. The branches will be located in select Head Post Offices in Tier-1-4 centres and select Sub-Post Offices in Tier-5-6 centres.

To meet RBI norms, the postal department proposes to set up a new entity - Post Bank of India - that will have an independent board and separate operations. Apart from independent directors, the board will have representatives from the finance ministry and the postal department. Separate recruitment has been planned to have specialist bankers.

While converting the entire postal network would have meant a capital requirement of over Rs 60,000 crore, by setting up a special entity, the fund requirement has been reduced. This, officers said, will also help create a more focused strategy.

Latest Uptodates

COMBINED WORKING COMMITTEE MEETING

ON 28-07-2013 FROM 10 AM

AT OTTAPALAM HO PREMISES

=All Office Bearers and Working Committee members are requested to attend the meeting in time= Important Divisional/ National issues are to be discussed = A review on Kerala Post Campaign will also be undertaken=

  

COACHING CLASS FOR LGO CANDIDATES GOING ON AT OTTAPALAM HO PREMISES DURING SUNDAYS/ HOLIDAYS

=All candidates are requested to utilize the class effectively=

  PA/ SA RECRUITMENT

• Kerala Circle Result Announced
• Computer Coaching Class for qualified candidates will be held at P&T Society Hall, Palakkad on 28-07-2013 (Sunday) from 10 AM.
• For Result :Visit link below:
  
  Direct Recruitment PA/SA Examination - LATEST UPDATE

  	UPDATE as on 17-JUL-2013
  I.	Aptitude Test (Paper I) for all the postal circles is completed. The List of shortlisted  candidates for the Computer Typing / Data Entry (PAPER II) for Kerala Postal Circles is given in the  link below:   SHORT LISTED CANDIDATES FOR PAPER II

•  

Meetings at Directorate

Proposed meetings at Dircetorate

1. Discussion on JCA memorandum (NFPE & FNPO) with  Secretary ,Posts likely to be on 2^nd August 2013.
2. JCM(DC) Standing Committee meeting for discussing progress on pending items on 23^rd August 2013.
3. JCM(DC) meeting for discussing new items likely in September 2013

Welfare Fund for GDS

INTRODUCTION OF CIRCLE WELFARE FUND FOR GRAMIN DAK SEVAKS...REGARDING (CLICK HERE FOR DETAILS)

Chit Fund Scam in West Bengal-after effect

India Post sees steady rise in small savings after chit fund debacle

KOLKATA: India Post, the government department that is seeking a banking license, is flooded with small savings in West Bengal after investors lost hundreds of crores in Ponzi schemes, giving it a stamp of approval from the masses ahead of the regulator.

The department has amassed a net of Rs 560 crore of deposits in the first three months of this fiscal, a period which is normally considered as a dull one in terms of savings. For the entire last fiscal, total net mobilisation was Rs 1,789 crore, West Bengal's chief postmaster general J Panda said Tuesday in Kolkata.

"Inflows of funds has been steady now," Panda said. This has coincided with the collapse of several Ponzi scheme companies in West Bengal.

The growth in mobilisation of small savings had slowed in the last three financial years to March 2013 when money circulating companies flourished in the state luring lakhs of small depositors with a prospect of making quick fortune.

India Post officials in Kolkata played down the Ponzi scheme effect on mobilisation. "The growth in generation of small savings reached a plateau with the availability of alternate investment options available in then market," postmaster general for Kolkata S Das said. "Seniors, who are traditionally the biggest takers of the postal savings schemes, are largely lured to other options."

The postal department in Bengal mobilised a gross Rs 23,872 crore in 2012-13 compared with Rs 23,571 in the preceding fiscal, reflecting a flat growth.

The Ponzi scheme debacle begun somewhat around last week of March when Saradha Group, which raised several thousand crores in fixed deposits and collective investment schemes, issued closure notices on many of its newspapers and TV channels following to an apparent financial crunch. This was followed by a run on the Saradha's chit fund business after anxious depositors flocked the counters with early redemption request. Several other such companies met the same fate.

The banking circle said that the lack of financial penetration in the state had allowed sham schemes to grow freely. The renewed interest on small savings is again driving home the point that while banks failed to build infrastructure to reach out to the country's remotest parts, India Post with over 1.5 lakh offices is perhaps the best suited for getting a banking license.

The country has close to 84,000 bank branches with 34,000 of these in the rural areas. While about 90% of India Post's offices are in the rural belt.

"We are giving emphasis on networking village post offices to enable savings customers to withdraw money anywhere in the country," Panda said at an event organised by MCC Chamber of Commerce & Industry.

Source : http://economictimes.indiatimes.com

Direct Recruitment PA/SA Examination - LATEST UPDATE

Direct Recruitment PA/SA Examination - LATEST UPDATE

	UPDATE as on 17-JUL-2013
I.	Aptitude Test (Paper I) for all the postal circles is completed. The List of shortlisted  candidates for the Computer Typing / Data Entry (PAPER II) for Andhra Pradesh,  Gujrat, Karnataka, Maharashtra, Tamil Nadu, Assam, Chhattisgarh, Jharkhand,  Madhya Pradesh, North East, Odisha, West Bengal Postal Circles is given in the  link below:   SHORT LISTED CANDIDATES FOR PAPER II  The list in respect of the remaining Postal Circles will be published shortly.
II.	The above Short List has been prepared in accordance with the procedure published in the Notification No 60-9/2009 SPB1 dated 8-5-2012. The candidates who figure  in the above list have qualified for appearing in the Paper II based on marks in the  Paper I.
III	The list is in order of Roll Number.
IV.	Paper II is tentatively scheduled on 10th,11th,24th,25th,31th August 2013 and  1st September 2013
V.	Admit Card for Paper II will be dispatched shortly. Admit Card can also be generated on this website by the candidates

POST BANK

LET THE POSTMAN TURN BANKER: INDIA POST DESERVES TO GET A BANK LICENCE

ET Bureau Jul 16, 2013, 05.00AM IST

India Post wants to own a bank. This is a great idea. In one stroke, this can ensure that millions more will get access to formal credit, in one of the most under-banked countries of the world.

The biggest advantage for India Post, among the most enduring institutions set up by the British, is its huge network and customer base. Compared to roughly 1,00,000 commercial and rural bank branches in India, there are 1,55,000 post offices, a majority in rural and semi-urban areas. As a collector of small savings, it has experience in taking deposits — about Rs 6 lakh crore at last count — but not in lending. A bank licence for only India Post would mean that the network of bank branches would be more than double in one stroke.

WELFARE FUND TO GDS

DEPARTMENT PROPOSAL TO INTRODUCE CIRCLE WELFARE FUND TO GDSs.

No. 19-31/2012-WL & Sports                                                       Dated at New Delhi the 12th July 2013

To  

             All the Head of Postal Circle

             All the Heads of Postal Regions

Subjects: - Circle Welfare Fund for Gramin Dak Sevaks – Regarding.

Sir/Madam,

            This is regarding introduction of the Circle Welfare Fund for GDSs in all the Circles as part of the ‘One year initiatives of the Department of Posts,’ under the guidance of Hon’ble Minister of Communications and Information Technology. The draft Schemes of Circle Welfare Fund for GDSs formulated by the Directorate is enclosed herewith.

2.          Before finalizing the scheme you are requested to send your valuable suggestions / comment / views on the draft scheme, latest by 29th July 2013.

                                                                                                                                          Yours Faithfully

                                                                                            Sd/-                     

(L.N Sharma)

Deputy Directorate General

(Training & Welfare) 

(Draft Schemes will be published with all details soon)

Expected DA increase

Expected DA from July 2013  ( CGS News )

Month / Year	B.Y. 2001=100	Total of   12 Months	12 Months   Average	% Increase   over 115.763	App. DA	DA %
Dec-12	219	2512	209.33	93.57	80.83	80
Jan-13	221	2535	211.25	95.49	82.49	82
Feb-13	223	2559	213.25	97.49	84.22	84
Mar-13	224	2582	215.17	99.41	85.87	85
Apr-13	226	2603	216.92	101.16	87.38	87
May-13	228	2625	218.75	102.99	88.97	88
Jun-13	Expected					90

Telegraph era ends

Telegraph era ends

The otherwise gloomy telegraph counter at the Bharat Sanchar Nigam Limited (BSNL) offices  were buzzing with activities on Sunday. People waited in long queues to send the first ever or the last telegram of their lifetime, as the telegraph system ceased to function and became a part of the history on Sunday evening.

A SAD NEWS

COM. PARAMESWARI, GDS BPM, PUDUR (AGALI) COMMITTED SUICIDE .

CREMATION WILL BE HELD TODAY EVENING.

WE EXTEND OUR HEARTFELT CONDOLENCES.

DIRECTORATE APPEAL FOR CONTRIBUTION TO PRIME MINISTER'S NATIONAL RELIEF FUND IN CONNECTION WITH UTTARAKHAND HAVOC

Decision of Central Trade Unions held on 8th July 2013

Decision of Central Trade Unions held on 8th July 2013

The Joint meeting of Central Trade Unions held on 8^th July 2013 at BMS office, New Delhi has decided the following course of joint mobilization/agitations and activities

1.      National Convention of Trade Unions on 6^th August 2013 at                    Mavalankar Hall,    New Delhi

2.      State level and district level rallies/agitations/demonstrations/jail       bharo etc during last week of September 2013

3.   March/demonstration before Parliament in the month of December during Parliament session.

4.      In various sectors like Coal, Telecom, Banks & Insurance, Transport, Power, Port & Dock etc, joint struggles/strikes are being planned/undertaken by the respective federations. All support should be extended to those struggles. Central Trade Unions should also jointly endeavour to develop sectoral struggles in various sectors. 

Dates and details of programmes in September and December will be finalized through joint consultation of Central Trade Unions and announced from the National Convention.

(M. Krishnan)

Secretary General

Confederation

Registered Letters can't be returned without proper reason: Madras High Court

Registered Letters can't be returned without proper reason: Madras High Court

The postman should make it clear as to whether the registered letter was served on the addressee or refused by the addressee or no addressee was found in the given address, the judge said.

CHENNAI: The Madras high court has frowned on mechanical return of registered letters as "unclaimed" by postmen, and said that in case they could not be delivered, proper reasons must be given.

Justice S Tamilvanan, underscoring the importance of a registered post in litigations and other matters, said that when people pay a fee and affix sufficient postal stamp, the postal authorities or postmen must discharge their duties in a responsible manner. The postman should make it clear as to whether the registered letter was served on the addressee or refused by the addressee or no addressee was found in the given address, the judge said.

Passing orders on a matrimonial litigation, wherein a Chennai-based woman wanted her divorce proceedings to be transferred from a Puducherry court to a Chennai court, the judge said the woman's notice sent by registered post had been returned undelivered with a simple endorsement "unclaimed." Slamming the practice, Justice Tamilvanan said the court was of the view that the reason for the non-delivery of the notice had not been properly explained to the person who sent it.

"The endorsement 'not claimed' is required to be made in a responsible manner by the postman or the official of the postal department, so as to convey proper reason and to bring out the fact as to under what circumstances the registered letter could not be served on the addressee by the postman," the judge said.

In case the registered letter is delivered to a person other than the addressee, the postman must obtain clear endorsement and explain the relationship of the signatory who received the letter on behalf of the addressee, Justice Tamilvanan said.

Return of registered letters with a comment "unclaimed" or with some other improper endorsement would cause inconvenience to the general public and the person seeking justice through court of law, the judge said, adding: "Service of notice by registered post plays a vital role in deciding several cases."

He then directed the chief post-master general of Tamil Nadu to give suitable instructions to all postal department officials to follow the guidelines laid down by the court in this case.

Source :The Times of India

ALL WOMEN POSTOFFICE AT TRIVANDRUM

Letter again to DG, Posts on Sunday/Holiday engagements

NFPE SG ADDRESSED IPS OFFICERS

SECRETARY GENERAL, NFPE ADDRESSED THE IPS PROBATIONERS

Com. M. Krishnan, Secretary General, NFPE & General Secretary, AIPEU Group ‘C’ (CHQ) was invited by the Postal Training Academy (Rafi Ahmed Kidwai National Postal Academy) Ghaziabad for an interaction with the IPS Probationers of 2011 batch who are completing their induction training by the middle of July 2013. The subject given is_“Why are Service Unions important”. Secretary General in his one hour address explained every aspect of the subject in detail. After his presentation there was an interactive session for an hour. Secretary General answered all the questions and queries raised by the IPS Probationers.  Sri. V. Rajarajan, Additional Director, RAKNPA was present. Details will be published in the Journal

Central JCA for 7th Pay Commission

CENTRAL JCA MEETING ON 25.07.2013

Meeting of the Central JCA (NFPE & FNPO) will be held on 25^thJuly 2013 Thursday at 11 AM at FNPO office. T-24, Atul Grove Road, New Delhi – 110001. All General Secretaries are requested to attend the meeting in time.

(M. Krishnan)

Secretary General

Save PostOffice

Save Palakkad Fort Post Office Forum constituted

Witnessed by a  mammoth participation of workers across the wide spectrum of trade unions including the constituents of NFPE, save Pg fort PO forum (Palakkad Fort PO Samrakshana Samithi) has been constituted in the back drop of impending closure threat against the said office.

Com.M.Velayudhan , Secretary NFPE  welcomed the gathering. Com.Gokulabalan, CITU, Chaired the meeting. Com Sajan, NGO Union , Com.P.K.Subramaninan ,CITU,Com.Krishnan kutty, KMCSU and  Com.G.Rajan BSNLEU  who spoke were in one voice in mounting workers’ resist  to thwart such foul  steps by the postal administration, taking away the basic needs of communication and small savings requirements of the community hitherto enjoyed in the locality. Com.Unnikrishnan Chazhiyad, President NFPE ,  reminded of an earlier such move which had to be aborted meanwhile by the authorities due to the stiff resistance from the public. The leaders extended unbridled support from their trade unions in enlisting support for the Save Pg Fort Forum and pledged to take this agitation to any extent to keep the ulterior move by the postal administration in the back burner.Com Madhusoodanan  NFPE expressed gratitude for the solid support in attending and deliberating in that crucial meeting.The meeting held in the P&T Society hall at 5pm on 01.07.13.

Palakkad Fort  PO Samrakshana Samithi

Chairman      :              Com.T.K.Noushad, Ex MLA

Convener      :              Com.T.S.Parameswaran, CGPA

Patrons   :  Shri.Abdul Khudduse, Chairman , Palakkad Muncipality

                  Shri. Krishna Kumar, Opposition  leader, Muncipality

Com.M.Narayanan, CPI(M) Area committee secretary.