Tuesday, September 29, 2015
Monday, September 28, 2015
DoP seek Cabinet nod to set up Payments Bank
The Department of Posts (DoP) is expected to seek Cabinet nod within two months for raising Rs.292 crore from public investment board to set-up Payments Bank, for which it has already got the RBI approval.
“We expect the fund to be cleared in two months,” an official source told PTI.
Payments bank licence will allow companies to collect deposits (initially up to Rs.1 lakh per individual), offer Internet banking, facilitate money transfers and sell insurance and mutual funds.
Besides, they can issue ATM or debit cards, but not credit cards. The Department expects revenue of over Rs.550 crore from PBI in first 5 years. The postal department had earlier tried for Rs.632 crore fund approval from government for full fledged banking services but it was not cleared by PIB.
Government has in-principle agreed to the entry of Postal Department in banking service through payments bank route.
“The DoP expects to roll out Payment Bank services by March 2017. There are no major infrastructure issue with the department. Only there is need to set up a data centre and disaster recovery centre which will be done soon,” the official said.
The Postal department computerised about 25,000 of its departmental post offices but rural post offices will be provided handheld devices for digitalising records.
The Department is in final stages of appointing a consultant that will guide it in setting up payment banks.
The Payments Bank entity is proposed to have its own employees and IT infrastructure. — PTI
The DoP expects to roll out Payment Bank services by March 2017. There are no major infrastructure issue with the department
Friday, September 25, 2015
Monday, September 21, 2015
Friday, September 18, 2015
ALL INDIA GRAMIN DAK SEVAKS UNION (AIGDSU)
(Central Head Quarter)
First Floor, Post Office Building, Padamnagar, Delhi 110007
President: M. Rajangam
General Secretary S.S. Mahadevaiah
GDS/CHQ/41/1/2010 Dated: 11-09-2015
Department of Posts,
Sub:- Revision of Security to be furnished by Gramin Dak Sevaks.
Ref: Yours office letter No.6-18/2010-PEII dated 7.05.2010 and 30.11.2010
A kind reference is invited to this union letter of even no. dated 18-07-2010, and 22-10-2010 on the above subject. The orders issued vide your office letter under reference are too harsh and deal a deadly blow to the GDS employees in the month in which the premia as per the revised amount of security bonds and periodicity are to be recovered. You will kindly agree that no scheme should be introduced or implemented which acts like an indirect punishment on the employees-especially the low paid GDS employees.
2. Due to steep hike in the amount of the S. Bonds, the amount of premia naturally increases proportionately and the recovery of the premia for a five year book would mean recovery of a sufficient amount from the pay of the GDS employees. Before we discuss in detail the other shortcomings of the newly introduced scheme, we would place before you the following factual facts for your consideration:
(i) The departmental employees who handle much more cash and valuables than the GDS employees are not called upon to furnish S.Bonds save, of course, treasures who are paid cash handling allowance in addition to the normal Pay and allowances. These departmental employees are not called upon to possess any landed property as a Condition of appointment. In case of GDS employees, especially BPM/SPMs they are required have landed property in their own names. The idea is that in case of any loss/fraud, the amount of loss can he recovered by getting issue of distress warrant from the value of the landed property. This is a sufficient security. Then there is no need for another security. We very sincerely feel what there is no ground that-so-ever for suspecting the integrity and honesty of the GDS employees in a quite discriminate manner.
(ii) Secondly and more importantly to our knowledge there has not been a single case where the guarantor, be it bank or cooperative society has ever been called upon to make good the amount of bond and the amount of losses are recovered from other employees charged with contributory negligence such employees may be departmental employees or GDS employees. Then the question is why recover the permia of S.Bond from the GDS employees to fill the coffers of the banks or cooperative societies-such societies in most case donot cater to any need of the GDS employees.
(iii) In Karnataka Circle F G Bond premium for Rs.25,000/- sum for 5 years at
Bangalore KCPC and Dharwad Co-op credit societies are Rs.1925/- and Rs.!260/- respectively and a good number of poor GDS in the circle are facing difficulty in paying the subscription, which is heavy, in one lump sum. There is no provision for payment of premia in reasonable installments as per society bylaws.
(iv) It is reported that in AP circle the premium amount for the said FG bond is low that is Rs.625/- for 5 years for the same amount of Rs.25,000/- guarantee. As such we request you to do the needful in this regard to explore the possibilities of getting FG Bonds for GDS of our circle from the credit co-op societies of AP circle, e.g. Kurnool Division Co-Op Credit Society charges Rs.625/-.
Hence there is no need for getting S.Bond selectively from the GDS employees and
this has got to be stopped
3. Now coming the newly introduced block of 5 years. This is most irregular and calous. How can the department guarantee that the GDS will not be promoted to departmental Post within the given period. More over, if God forbid, the employee expires or resigns for some reason within the 5 year period, what can justify the recovery of premia for the period he will not be in service. This scheme is most impracticable and harsh and has got to be withdrawn forth with.
In view of what has been explained above, there is no need of obtaining fidelity bond selectively form the GDS employees and especially when not even in a single case, the guarantor has paid the amount of S.Bond in case of loss,
You are, therefore, kindly requested to reconsider and do needful & mechanize this scheme.
The scheme has to be withdrawn lock stock and barrel.