Saturday, 19 March 2016
Reduction of Interest Rates on Public Provident Fund
Reduction of Interest Rates on Public Provident Fund
Interest Rates on various Small Savings Schemes for the 1st Quarter of 2016-17 notified;. Additional Interest Rate spreads which the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme and NSC etc. are being continued and included in the rates notified today.
From the year 2012-13, the interest rates on various Small Savings Schemes (SSS) are recalculated and notified in the month of March every year. These rates are applicable for the next financial year. This is being done in line with the recommendations of the Shyamala Gopinath Committee to ensure that the interest rates of Small Savings Schemes are market linked.
Accordingly, as done in the previous years, the interest rates for various Small Savings Schemes were due for recalculation in March 2016. As notified on 16th February, 2016, instead of annual resetting of interest rates for the next financial year, the interest rates from now on will be reset every quarter based on the G-Sec yields of the previous three months. Consequently, the interest rates for various Small Savings Schemes were recalculated with reference to the G-Sec yields of equivalent maturity for the months December 2015 to February 2016. Based on this calculation, the interest rates on various Small Savings Schemes for the 1st quarter of 2016-17 have been notified today. The rates of interest on various small savings schemes for the First Quarter of Financial Year 2016-17, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
This is a formula driven process.
Further, as notified earlier, the additional interest rate spreads which the Government allows on Small Savings Schemes like PPF, Senior Citizen Savings Scheme, Sukanya Samridhi Scheme, NSC etc. are being continued. The additional spread for these Schemes are 25 basis points for PPF, 100 basis points for Senior Citizen Savings Scheme, 75 basis points for Sukanya Samridhi Scheme, 25 basis points for five year time deposit, 25 basis points for National Savings Certificate and 25 basis points for Monthly Income Scheme. These additional interest rate spreads are being continued and are included in the rates notified today.
The quarterly revision of interest rates will ensure that the interest rates under Small Savings Schemes are more dynamically related to the current market rates, thereby enabling the Banks to move their interest rates in line with current money market rates.
Source: PIB News
Thursday, 17 March 2016
Court orders against Government of India instructions on service matters – Dopt orders on 16.3.2016
Court orders against Government of India instructions on service matters – Dopt orders on 16.3.2016
Court orders against Government of India instructions on service matters-consultation with Ministry of Law and Department of Personnel and Training on question of filing appeals.
F.No.28027/1/2016-Estt.A-III
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel & Training
Establishment Division
North Block, New Delhi-110001
Dated: 16th March, 2016
OFFICE MEMORANDUM
Subject: Court orders against Government of India instructions on service matters-consultation with Ministry of Law and Department of Personnel and Training on question of filing appeals.
The undersigned is directed to refer to this Department’s O.M.No.28027/9/99- Estt.(A) dated 1st May, 2000 on the above subject ( copy enclosed) and to say that the Department of Personnel and Training is the nodal Department that formulates policies on service matters and issues instructions from time to time. These instructions are to be followed by the Ministries/ Departments of the Central Government scrupulously. All the Court cases filed by employees have to be defended on the basis of the facts available with the Administrative Ministry/Department concerned, keeping in view the instructions issued on the subject by this Department.
2. Reference is also invited to the Cabinet Secretariat’s D.0 letter No. 6/1/1/94-Cab dated 25.02.1994 and the Department of Expenditure’s O.M. No. 7(8)/2012-E-II(A) dated 16.05.2012 inter-alia provide that (i) a common counter reply should be filed before a Court of Law on behalf of the Union of India by the concerned administrative Department/ Ministry where the petitioner is serving or has last served; and (ii) a unified stand should be adopted instead of bringing out each Department’s/Ministry’s point of view in the said reply. It further provides that it is primarily the responsibility of the Administrative Ministry to ensure that timely action is taken at each stage a Court case goes through and that a unified stand is adopted on behalf of Government of India at every such stage. In no case should the litigation be allowed to prolong to the extent that it results in contempt proceedings.
3. However, it is noticed that the Ministries/Departments are making several references to this Department seeking interpretation of the guidelines without exercising due diligence. The Ministries/Departments are advised not to make any references to this Department unless there are difficulties relating to interpretation/application of these guidelines or any relaxation in Rules/instructions is warranted to mitigate a genuine hardship faced the Government servant. While seeking advice of this Department, instructions contained in this Department’s O.M. number 43011/9/2014-Estt (D) dated 28.10.2015 may be followed.
4. The court cases may be further handled in the following manner:-
Court orders against Government of India instructions on service matters-consultation with Ministry of Law and DoP&T on the question of filing appeals, before implementation of Court’s orders
Authority: www.persmin.gov.in
Monday, 14 March 2016
Linking of CGHS Card number with Aadhaar is purely on a voluntary basis
Linking of CGHS Card number with Aadhaar is purely on a voluntary basis
The below information was given in written reply to a question about the linking between CGHS card and Aadhaar by the Minister of Health and Family Welfare Shri Jagat Prakash Nadda in Lok Sabha on 11th March 2016 as follows…
"Ministry of Health and Family Welfare has issued an Office Memorandum No. Z-15025/11/201-DIR CGHS dated the 10th July 2015 requesting the Ministries/Departments concerned to motivate their employees availing CGHS to link their Aadhaar Numbers with the CGHS database either online themselves through the CGHS portal or through the CMO-in-charge of their dispensary.
Central Government employees/pensioners applying for new CGHS cards/new plastic cards have the option to provide Aadhaar Number for entering the number in CGHS database.
Linking of CGHS beneficiary ID number with Aadhaar number is purely on a voluntary basis.
Linkage of Aadhaar number with CGHS ID will facilitate consolidation of all health-related data bases and enable more convenient access to various E-services in the future. "
OROP Arrears is expected to be released by March end to family pensioners
Revised Pensionary benefits under OROP released to over Two Lakh Defence Pensioners
The Defence Pension Disbursing Offices (DPDOs) functioning under Controller General of Defence Accounts (CGDA) in the Ministry of Defence have released revised pensionary benefits to 2,21,224 Defence pensioners drawing service/disability pension. The amount along with first instalment of arrears had been released and credited by the Defence Ministry to the accounts of these pensioners on 01.03.2016.
In the case of remaining 1,46,335 family pensioners drawing pension from Departmental Pension Drawing Officers (DPDOs), payment along with arrears is expected to be released by March end. Banks are under process of revision work.
These steps are a follow-up to Department of Ex-Servicemen Welfare (ESW) of the Ministry of Defence’s notification on 07.11.2015 ordering implementation of One Rank One Pension (OROP) scheme for Defence pensioners.
The total additional annual financial increase for grant of One Rank One Pension (OROP) is Rs. 7488.70 crores. The total amount on account of arrears to be paid for the period 1.7.2014 to 31.12.2015 is Rs. 10925.11 crores.
Out of total annual liability of Rs. 7488.70 crores, PBOR family pensioners shall get Rs. 6,405.59 crores, which works out to 85.5% of total expenditure of OROP.
Due to increase in defence pension budget, the additional liability for current financial year 2015-16 shall be Rs. 4,721.34 crores which will increase the current defence pension liability of Rs. 60,238 crores to Rs. 64,959.34 crores for the year 2015-16.
Detailed implementation orders of OROP with 101 tables containing revised pensions of different ranks and categories were issued by the Department of ESW on 03.02.2016 through their website www.desw.gov.in. According to the orders, the Pension Disbursing Agencies have been authorized to make payments with arrears as scheduled.
To facilitate the pension disbursing agencies, the Principal Controller of Defence Accounts (P) have also issued implementation instructions through a circular on 04.02.2016. The implementation instructions along with Government orders are available on the website www.pcdapension.nic.in.
Source: PIB News
Subscribe to:
Posts (Atom)



