Holiday declared on account of sankranthi(14.1.2017) instead of Ramanavami(5.4.2017).

Date : 9.1.2017

Holiday declared on account of sankranthi(14.1.2017) instead of Ramanavami(5.4.2017). AP & Telangana Circle offices issued orders today

AP Circle Order

Telangana Circle Order

Date : 8.1.2017

Govt asks banks to obtain PAN from account holders

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NEW DELHI: Tightening the noose around tax evaders, the government has asked banks to obtain permanent account number (PAN) or Form-60 if PAN is not available, from all bank account holders by February 28, 2017.

"Income-tax Rules have been amended to provide that bank shall obtain and link PAN or Form No. 60 (where PAN is not available) in all existing bank accounts (other than BSBDA) by February 28, 2017, if not already done," a notification by the Central Board of Direct Taxes (CBDT) stated today.

The persons who are having bank accounts but have not submitted PAN or Form No 60 are advised to submit the PAN or Form No 60 to the bank by February 28, 2017, the notification stated.

However, this rule will not apply to Basic Savings Bank Deposit Accounts (BSBDA), which are zero balance savings accounts, including Jandhan accounts.

The BSBDA were introduced to take care of simple banking needs of people, which come with free ATM card, monthly statement and cheque book.

Last month, RBI had mandated that no withdrawal shall be allowed from the accounts having substantial credit balance/deposits if PAN or Form No.60 is not provided in respect of such accounts.

It further said that the banks and post offices had also been mandated to submit information in respect of cash deposits from April 1, 2016 to November 8, 2016 in accounts where the cash deposits during the period November 9, 2016 to December 30, 2016 exceeds the specified limits.

It has also been provided under the new rules that person who is required to obtain PAN or Form No.60 shall record the PAN/Form.No.60 in all the documents and quote the same in all the reports submitted to the Income-tax Department.

TIMES OF INDIA

PAYMENT OF ONE DAY PAID WEEKLY OFF TO CASUAL WORKERS - CO ORDRER IN AP &TELANGANA

Date : 8.1.2017

C.O. ORDERS FOR PAYMENT OF ONE DAY PAID WEEKLY OFF TO CASUAL WORKERS IN TELANGANA CIRCLE IN THE LIGHT OF HONORABLE CAT JUDGEMENT OF AHMEDABAD BENCH.

NUGDS CALENDAR INAUGURATION BY SPoS SRI.CHANDRASEKHAR ,ANANTHAPURAM DIVISION

Date : 7.1.2017

NUGDS CALENDAR INAUGURATION BY SPoS SRI.CHANDRASEKHAR ,ANANTHAPURAM DIVISION

FLASH NEWS ON GDS PAY COMMITTEE REPORT

Date : 7.1.2017

FLASH NEWS    FLASH NEWS

GDS PAY COMMITTEE REPORT

PRESS STATEMENT -PRESIDENT, NUGDS

Date : 7.1.2017

PRESS STATEMENT -PRESIDENT, NUGDS

Posting of Probationers of Indian Postal Service, Group 'A' of 2013 & 2014 Batches

Date : 6.1.2017

Posting of Probationers of Indian Postal Service, Group 'A' of 2013 & 2014 Batches

Click the below link to view

Posting of Probationers of Indian Postal Service, Group 'A' of 2013 & 2014 Batches

Date : 4.1.2017

Why IPPB Gets More Demand than other Payment Banks

India Post Payments Bank (IPPB) is yet to start operations, but, already, it is the hottest game in town.

Banks, insurance firms and asset management companies are approaching it with offers of equity partnerships, joint ventures or other mutually beneficial arrangements.

That shouldn’t surprise anyone.

India Post, which will run IPPB, has a network of more than 150,000 branches, of which almost 140,000 are in India’s rural hinterland. That gives the payments bank access to a network that is almost unrivalled in its reach.

In total, 50 companies including Barclays Bank, Deutsche Bank, Citibank and several state-owned banks have sent proposals to the department of posts for a partnership. The International Finance Corporation, part of the World Bank Group, has offered to be an equity partner. Money transfer company UAE Exchange is ready to open vostro (in which the Indian bank will manage a local account corresponding to one held in a foreign bank) accounts for rupee currency, targeting Indians living in West Asia.

Like other payments banks, IPPB will target financially excluded customers such as migrant workers, low-income households and tiny businesses. It will not lend money and, as a result, will be shielded from the risks that conventional banks are exposed to. And it will have a huge offline presence to complement its online one, for which the department of posts has already identified a core banking solution (the software that runs banks).

The department of posts was among the 11 entities that got an in-principle approval from the Reserve Bank of India (RBI) to start a payments bank. Three entities have surrendered their licence after they discovered the business is characterized by high volumes and low profit margins. For India Post, though, the business will be a natural extension.

India Post already accepts money from customers as part of its post office bank accounts and long-term deposit schemes such as National Savings Certificate. Its money order service is widely used by migrant workers to remit money back home.

It will also not have to gain trust of customers like its competitors, especially in the rural areas, as the local postman is still an integral part of the day-to-day lives of the rural populace.

The Union cabinet approved a proposal to set up IPPB with a corpus of Rs.800 crore. Communications and information technology minister Ravi Shankar Prasad said IPPB has plans to open 650 branches and will be operational by September 2017.

“IPPB will be a game changer for rural and suburban India. We had initially planned to roll out operations in three years. But the Prime Minister has given us a challenge to start operation in a year’s time. All grameen dak sevaks in rural post offices will be given hand-held devices by March 2017 and by September 2017, all 650 branches of postal payments bank will become operational,” Prasad said.

The payments bank will begin with Rs.400 crore equity capital and Rs.400 crore as grant from the government. IPPB plans to set up 5,000 automated teller machines as well, he added.

N.C. Saxena, former secretary of the erstwhile Planning Commission, said that financial institutions are sensing the potential that IPPB has in terms of its connectivity and reach.

“In today’s digital era, telegrams and post cards are no longer used. But India Post has a vast infrastructure already in place and a very good rural network. Besides the 1.5 lakh post offices, they also have a network of temporary post offices—basically one-person post offices—that take care of the last-mile connectivity in rural areas,” he said, adding that financial institutions both in the private and public space cannot hope for a partner with a better reach in rural areas.

“But the post office payment bank will have to quickly move to an online platform to make it easier for customers to access their accounts and conduct transactions,” Saxena said.

Disposal of 2 nd Appeal preferred before CIC under RTI Act ,2005 -NUGDS

Date : 4.1.2016

Disposal of 2 nd Appeal preferred before CIC under RTI Act ,2005 -NUGDS

Proposed online selection of all categories of GDS -Clarification

Date : 4.1.2017

Proposed online selection of all categories of GDS -Clarification

Allocation of cash for rural areas through rural Post Office - RBI Order

Date : 4.1.2016

Allocation of cash for rural areas through rural Post Office - RBI Order

RBI/2016-17/207

DCM (Plg) No.2200/10.27.00/2016-17

January 03, 2017

The Chairman / Managing Director/ Chief Executive Officer,

(All banks with currency chests)

Dear Sir / Madam

Allocation of cash for rural areas

Please refer to our circulars DCM (Plg) No.1345/10.27.00/2016-17 dated November 22, 2016 and DCM (Plg) No.1508/10.27.00/2016-17 dated December 02, 2016 on making cash available for rural areas.

2. On observing that bank notes, being supplied to rural areas, at present, are not commensurate with the requirements of rural population, some steps have already been initiated as indicated in the above circulars. With a view to ensure that at least 40% bank notes are supplied to rural areas and to mitigate the issue in a more enduring manner, the banks maintaining currency chests are advised to take the following steps, in continuation of the above.

Distribution Channels and Proportion of currency flow

i. Banks should advise their currency chests to step up issuance of fresh notes to rural branches of RRBs, DCCBs and commercial banks, White Label ATMs in rural areas andpost offices in rural areas on priority basis which are considered main rural channels of distribution.

ii. As the rural requirements could vary from district to district depending on variations in the rural and urban mix of each district in terms of relative shares in CASA deposits and number of deposit accounts, to facilitate a need based approach in this regard a certain percentage of allocation has been assigned to each district as per Annex 1 depending on the rural and urban mix.

iii. Accordingly, all Chests operating in a district must issue bank notes to the above mentioned distribution channels in the indicated proportion. The indicated proportion may be maintained on weekly average basis at each chest level as it may be difficult to stick to the proportion on daily basis.

Reporting for monitoring

iv. Currency chests must furnish daily issuances to the above categories to their Link Offices (LO) along with chest slips with a weekly summary as at close of business on every Friday. LOs should in turn forward it to the RBI’s Regional Office concerned (reporting format annexed) to facilitate a review. It may be similar to the chest balances reporting mechanism (Annex 2). LOs may monitor the daily reports to avoid lumpiness in issuances and to ensure that issuances are evenly.

Denominational mix

v. Chests should issue bank notes in denominations of ₹ 500 and below. In particular ATMs, including WLAOs, may be issued ₹ 500s and ₹ 100s and among ATMs category, Off-site ATMs should be allocated higher proportion of cash as against on site ATMs as they are more important in last mile currency connectivity.

vi. Existing stock of other denominations notes below ₹ 100 should be issued liberally.

vii. Banks should indent for coins, obtain supply from Issue Departments of Reserve Bank of India, if required, and ensure supply to public on priority basis.

3. Please acknowledge receipt.

Yours faithfully,

(P Vijaya Kumar)

Chief General Manager

Encl: As above

Annex 1 (enclosed)

Snaps of RBI order is enclosed below

GDS Committee report latest information

Date : 3.1.2016

GDS Committee report latest information.

NATIONAL UNION HEARTLY WISHES A VERY HAPPY NEW YEAR TO Sri.M.SAMPATH GARU CPMG,AP CIRCLE.

Date : 2.1.2016

NATIONAL UNION HEARTLY WISHES  A  VERY HAPPY NEW YEAR TO Sri.M.SAMPATH GARU CPMG,AP CIRCLE.   

                                      

Instructions from CPC(CBS) on Interoperable ATM in DOP

Date : 31.12.2016

Instructions from CPC(CBS) on Interoperable ATM in DOP

Dear All,

As you are aware DOP ATMs are interoperable, however still under observation for a week. As many ATMs were not online/kept open, patches pushed centrally by switch team could not be deployed in such ATM sites. Due to this non DOP ATM cards are not working in those ATM locations.

As per directorate orders all the DOP ATMs should be functioning and kept open 24X7. Hence, kindly instruct all the ATM site located SOLs to personally check the ATM screen by using other bank ATM cards and do some sample transactions. If the other bank cards are not functional in those ATMs please consolidate such ATM location details with ATM ID and SOLID for taking up the issue with respective vendor for early rectification by 02/01/2017 1100 hrs positively.

Thanks & regards,

Incharge Operations, DOP ATM Unit

CBS-CPC, 4th Floor, Bengaluru GPO Building
Bengaluru-560001
080-22850173, 18004252440

postatm@indiapost.gov.in

Note:

Previously, people with accounts in postal department can only use the services of the India Post ATMs.

Today Reserve Bank of India (RBI) has approved the India Post's proposal for interoperability of its ATMs with other banks.

Equipped with a wide network of core banking solution (CBS) branches, Pensioners and other savings bank account holders, including Monthly Income Scheme (MIS) account holders with the postal department need not hence-forth wait in long queues for withdrawal of cash. They could withdraw up to a maximum of Rs.10,000 at a time from any ATM in India with the ATM cards issued to them. 

HAPPY NEW YEAR 2017

Date : 31.12.2016

HAPPY NEW YEAR 2017 TO ALL VIEWERS

Good News ! We Can Now Use POSB ATM Card In Any Bank ATM

Date : 31.12.2016

Good News ! We Can Now Use POSB ATM Card In Any Bank ATM

Previously , people with accounts in postal department can only use the services of the India Post ATMs.

Today Reserve Bank of India (RBI) has approved the India Post's proposal for interoperability of its ATMs with other banks. 

Equipped with a wide network of core banking solution (CBS) branches, Pensioners and other savings bank account holders, including Monthly Income Scheme (MIS) account holders with the postal department need not hence-forth wait in long queues for withdrawal of cash. They could withdraw up to a maximum of Rs.10,000 at a time from any ATM in India with the ATM cards issued to them.

Cash withdrawal from ATMs – Enhancement of daily limits

Date : 31.12.2016

Cash withdrawal from ATMs – Enhancement of daily limits

RBI/2016-17/204

DCM (Plg) No. 2142/10.27.00/2016-17

December 30, 2016

The Chairman / Managing Director/ Chief Executive Officer,

Public Sector Banks/ Private Sector Banks / Foreign Banks/

Regional Rural Banks / Urban Cooperative Banks/ State Cooperative Banks

District central Cooperative Banks

Dear Sir,

Cash withdrawal from ATMs – Enhancement of daily limits

Please refer to our circular DCM (Plg) No. 1424/10.27.00/2016-17 dated November 25, 2016 on “Withdrawal of cash from bank deposit account - Relaxation”.

2. On a review of the position, the daily limit of withdrawal from ATMs has been increased (within the overall weekly limits specified) with effect from January 01, 2017, from the existing ₹ 2500/- to ₹ 4500/- per day per card. There is no change in weekly withdrawal limits. Such disbursals should predominantly be in the denomination of ₹ 500.

3. The relaxation of withdrawal limits as enabled by our circular DCM (Plg) No. 1437/10.27.00/2016-17 dated November 28, 2016 remains unchanged.

4. Please acknowledge receipt.

Yours faithfully,

(P Vijaya Kumar)

Chief General Manager