Highlights of some important S B Orders issued during 2011

Scheme	Important features to be noted		SB Order No.	Effective from
K V P	Discontinued from 01.12.2011		22 / 2011, Dt. 24.11.2011	01.12.2011
5 Year N S C (VIII Issue)	1. Maturity period reduced to 5 years. 2. Maturity value revised to 150.90 (for denomination of Rs.100/-). 3.Rubber stamp to be affixed on the existing 6 year NSCs citing the revised period / value before issue.		23 / 2011, Dtd.24.11.2011	01.12.2011
10 Year NSC (IX Issue)	1. New Scheme introduced with maturity period 10 years. 2. Maturity value 234.35 (for denomination of Rs.100/-).		30/2011, Dt.30.11.2011	01.12.2011
P P F	All post offices operating PPF scheme should use Form-A for opening of PPF account. No Joint PPF account.		01 / 2011 Dt.08.02.2011
	1. Maximum investment revised to Rs.100000/ per financial year in existing PPF Account as well as new PPF accounts opened on or after 01.12.2011. 2. Rate of interest revised to 8.6%. 3.Rate of interest on loan revised to 2% per annum. 4.Rate of interest of 1 % per annum will be charged on loans taken up to 30.11.2011.		24 / 2011, Dtd.24.11.2011	01.12.2011
	Interest at PPF rate would be paid on those PPF(HUF) accounts which had attained maturity after 13.5.2005 but closed by the subscribers before 7.12.2010 subject to the conditions that the accounts had not been extended after maturity and the deposits were retained in such accounts without further subscription during this period.		13/2011, Dt. 01.08.2011 and subsequently clarified on 10.08.2011
M I S	1. Maturity period reduced to 5 years. 2. 5% Bonus on maturity discontinued. 3. Rate of interest shall be 8.2% per annum ( rounded off to the nearest multiple of rupee one if interest calculated becomes 50 paisa or more, ignoring less than 50 paisa )		25 / 2011, Dtd.24.11.2011	01.12.2011
S B	Rate of interest revised from 3.5% to 4 % per annum.		26 / 2011, Dtd.24.11.2011	01.12.2011
	Removal of ceiling of maximum balance with effect from 01.10.2011 A depositor or depositor(s) can deposit any amount ( both in cash and in cheque ) into single as well as joint savings account.		20 / 2011 Dt.27.09.2011	01.10.2011
	From the Financial year 2011-12, Interest income of Rs.3500/- in the case of single account and Rs.7000/- in case of Joint account will be exempted from Income Tax.		20 / 2011 Dt.27.09.2011
T D	1. Rate of interest per annum revised as follows : Period of Deposit Rate of interest per annum ( Compounded quarterly ) 1 Year 7.7 2 Years 7.8 3 Years 8.0 5 Years 8.3 2. Premature Closure : a. If closed after 6 months but before 1 year : Normal Savings Account interest applicable from time to time shall be payable. The rate of interest shall be 3.5% up to the period 30.11.2011 and 4% thereafter. b. In case of premature closure of 2 Year, 3 Year or 5 Year account which were opened even before 1.12.2011, if the deposit is withdrawn after the expiry of one year from the date of deposit, interest on such deposits shall be calculated at the rate, which shall be one per cent less than the rate which was applicable at the time of opening of TD account.		27 / 2011, Dtd.24.11.2011 Clarified vide No. 33 / 2011, Dt. 13.12.2011 Clarified vide No. 33 / 2011, Dt. 13.12.2011	01.12.2011
	Above ruling of premature closure is also applicable to Accounts opened even before 01.12.2011		33 / 2011, Dt. 13.12.2011
R D	Maturity value increased to Rs.738.62 on RD account of Rs.10/- denomination and proportionate value for other denomination.		28 / 2011, Dtd.24.11.2011	01.12.2011
	Subsequent deposits in RD Accounts	Period of Opening of R D Account Period deposit of subsequent deposit Between 1st Day and 15th Day of calendar month Up to 15th day of next month Between 16th Day and last working of a calendar month Up to the last working day of next calendar month	31 / 2011 Dt. 13.12.2011	01.01.2012
	Maturity Value of Discontinued RD Account	Simple interest at the rate applicable from time to time to P O S B Account on the amount deposited from the date of maturity till date of payment shall be paid Calculations are to be made manually and recorded in the Register to be maintained in manuscript for future reference till software is amended.	31 / 2011 Dt. 13.12.2011	01.01.2012
	Pre-mature closure of RD Account	Simple interest at the rate applicable from time to time to P O S B Account shall be payable. This calculation shall be made manually from 01.01.2012 till the software is amended. Difference of interest calculated by the software and interest calculated manually should be noted in the Register to be maintained in manuscript for future reference.	31 / 2011 Dt. 13.12.2011	01.01.2012
	Maturity Value of R D Account retained after 10 years	PMI shall be payable at the rate applicable from time to time to P O S B Account from the date of maturity to date of payment Entry of such accounts in which PMI is paid should be made in a register to be maintained in manuscript for PMI for future reference.	31 / 2011 Dt. 13.12.2011 & clarified vide corrigendum dated 20.12.2011	01.01.2012
Agents	SAS Agents are authorized to handle cash up to Rs.10000/-		03/2011, Dt. 11.03.2011
	Above restriction not applicable to MPKBY or PPF agents.		05/2011, Dt. 21.04.2011
	No commission is payable to SAS agents investing more than Rs.10000/- at a time in cash		17/2011, Dt. 09.09.2011
	Commission: Scheme Rate of Commission R D 4% TD, MIS, NSC 0.5% PPF Nil SCSS Nil		29 / 2011, Dtd.24.11.2011	01.12.2011
Post Maturity Interest	Maximum limit of 2 years fixed for admissibility of Post Maturity Interest has been removed. Procedure:- Now PMI should be paid at the simple interest rate applicable to savings account from time to time from the date of maturity to date of payment. Limit of maximum of two years has been removed. The rate of interest shall be equal to the rate applicable from the date of maturity to the date of payment at different times. For example, if an account was matured on 26.8.2010 and the depositor attends the post office on 15.01.2012, he will be paid PMI at the rate 3.5% from 01.09.2010 to 30.11.2011 and at the rate 4% from 1.12.2011 to 31.12.2011. This shall be applicable to the existing as well as new investments in all schemes. Calculations’ are to be made manually and recorded in the Register to be maintained in manuscript for future reference till software is amended. All other conditions mentioned in the relevant rules shall remain unchanged. Note:- For the purpose of payment of interest, any part of the period which is less than one month shall be ignored.		31 / 2011 Dt. 13.12.2011 & Clarified vide corrigendum – II , dated 02.01.2012	01.01.2012
Settlement of Claim Cases	1) Form for claim of balance in the Savings Bank Account of deceased depositor- SB-30 2) Claim application form for settlement of Savings Certificates of the deceased holder where nomination is registered-NC-14. 3) Claim application form for settlement of Savings Certificates of the deceased holder where claim is preferred on legal evidence of heirship.NC-15. 4) Claim application form for settlement of Savings Certificates of the deceased holder where no nomination is registered or no legal evidence is produced.NC-16.		02 / 2011, Dt. 08.02.2011
	Production of Original Death Certificate: Claimants shall produce original proof of death along with photocopies before in-charge of the post office where the claim is to be handed over and in-charge of that post office irrespective of the status of the post office will record a remark on the photocopy of the proof of death as “ Compared with original and found correct” under his/her dated signatures. Then original proof of death may be returned to the claimant.		12/2011, Dt. 11.07.2011
Opening of Account	In the same post office, on a single day, only one account in the name of same depositor in each scheme or one purchase application in the name of same investor in each scheme can be accepted.		11/2011, Dt. 30.06.2011
	Above restriction was withdrawn		14/2011, Dt. 05.08.2011
Payment of deposits / certificates belong to minors	In case of Minor Account opened / Certificates purchased by guardian on behalf of minor where at the time of payment minor not attained majority, all payments should be made to the guardian after taking prescribed certificate. In case, minor attained majority before date of payment, prescribed procedure for conversion of account / certificate from the name of guardian to the name of minor who attained majority should be followed and payment should not be made to the guardian. (ii) In case of individual accounts opened by minors of the age of 10 years or above in Savings/RD/TD or MIS schemes / certificates applied by minor and issued in the name of minor, , all payments should be made to the minor himself who made the deposits / applied for issue of certificates irrespective of minor attained majority or not.		08 / 2011, Dt. 25.05.2011

( Compiled by: B. Samal, Secretary, AIPEU, Gr.-C, Bhubaneswar Division and Postmaster, Sahidnagar MDG in the interest of all the staff members )

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Issue of Individual Plastic Cards to CGHS beneficiaries – regarding

Government of India Ministry of Health & Family Welfare Department of Health & Family Welfare Nirman Bhawan. Maulana Azad Road New Delhi 110 108 No. S 11012/3/2011- CGHS (P) Dated: the 29th December. 2011 OFFICE MEMORANDUM Sub: Issue of Individual Plastic Cards to CGHS beneficiaries – regarding The undersigned is directed to Invite reference to this Ministry’s O.M No. Misc. 6024/2007/CGHS (HQ)/CGHS(P) dated 30th December, 2009 wherein guidelines on issue of individual Plastic cards to each CGHS beneficiary (serving and retired) were issued. In order to further streamline the issue of CGHS Plastic Cards, the guidelines are revised as follows: NEW PROCEDURE FOR ISSUE OF CGHS CARDS IN DELHI & NCR (A) SERVING EMPLOYEES 1. CGHS Cards shall be issued only to the eligible Central Government employees and such class of persons as may he decided by the Government whose place of residence is situated within the coverage area of CGHS. 2. Requisition for CGHS Cards shall be prepared in duplicate in Form ‘A’. One copy to be forwarded to Additional Director (HQ), CGHS, New Delhi and the other to be retained with the Department where the applicant is currently employed (hereinafter referred to as ‘sponsoring authority/Ministry/ Department) for record. 3. The requisition shall be sponsored by an officer in charge of administration not below the rank of Under Secretary. 4. Requisitions for CGHS Cards shall be accompanied by two copies of recent 3×5 cm. size individual photographs of all family members of the government employee, one set of which shall be pasted on the application form and shall be attested by a Gazetted Officer in charge of administration. Another set of photographs shall be signed on the back by the concerned beneficiary and enclosed with the application form for onward submission to the Office of Additional Director (HQ), CGHS. New Delhi. 5. Requisitions shall be sent along with two copies of the challan as in Form ‘C’ duly filled in, to the Additional Director (HQ), CGHS, New Delhi. 6. The Office of Additional Director (HQ). New Delhi shall process the requisition forms and get the cards prepared in the prescribed format which shall then be delivered to the concerned sponsoring authorities as per the laid down procedure. 7. CGHS Cards will be delivered only to the person authorised by the sponsoring authority after obtaining an acknowledgement in Form ‘D’. 8. The sponsoring authority shall ensure that the government employee, for whose family members the CGHS Cards are made out, gives a proper receipt on taking delivery of card(s) by putting his/her signature. 9. On the occurrence of death, CGIHS cards issued to a government employee shall be withdrawn and deposited by the Administration of his/her Department with Additional Director (HQ), CGHS, New Delhi for cancellation. 10.In case of change in entitlement for CGHS facilities, the Government employee shall enclose the CGHS card(s) with the application for issuing new card(s) with the revised entitlement. 11. In case of mutilation, the mutilated CGHS Card shall be enclosed with the application along with the challan in token of payment of the prescribed charges for issuing a new card. 12.CGHS Card(s) may be issued to employees of autonomous bodies (if CGHS facility is allowed to such body) under the Administrative Ministries of Government of India in accordance with the procedure prescribed above. Officers of a rank equivalent or corresponding to Under Secretary In such autonomous bodies though not enjoying Secretariat status shall be the requisitioning authority and certifying authority in respect of such employees. 13.CGHS Card(s) for employees of autonomous bodies attached to the Ministries will be issued only if the employee is residing within the CGHS covered areas. 14.Duplicate cards may be issued on payment of prescribed fee with the details of the lost / misplaced cards. For Issue of duplicate cards, the same procedure shall be followed by the concerned employee and his/her sponsoring authority/Department /Office. 15.The employees should be encouraged to submit their applications online by using the CGHS portal. After online submission of the application from they should take a print out of the same and submit the hard copy duly signed and photographs affixed thereon, to the sponsoring authority for processing and onward submission to the Office of Additional Director (HQ), CGHS for issuing the cards. Detailed instructions for online submission of applications are at APPENDIX. 16.The plastic cards issued by CGHS shall be valid for a period of five years from the date of issue. The validity period shall also be indicated on the card. Click here to continue the O.M.

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Age bar for widows to be lowered for central pension scheme-Jairam Ramesh

The Government today said that the age bar for the widows, who are beneficiaries of the central pension scheme will be lowered from the existing 40 to 18 years. At present only the widows under the age bracket of 40 to 59 years are entitled for the benefits. Delivering a keynote address here on the subject Agrarian Single Women: Distress, Access to Livelihood, Services and Justice, Union Rural Development Minister Shri Jairam Ramesh said four crore such women in the country face a bleak future as there is no sufficient help forthcoming for them. The Minister also expressed hope that the pension amount for the widows, old-aged and physically challenged persons will also be raised from the existing 200 rupees per month to 500 rupees per month as he had already taken up the matter with the Finance Minister. He said, all attempts will be made to provide more and more jobs to the single women under MGNREGA and all such people who had worked for 15 days in a year under the scheme will be entitled for availing the benefits of Rashtriya Swasthya Bima Yojana. He informed that out of 12 crore beneficiaries of the scheme so far, 25 percent of them are women-headed households. Shri Jairam Ramesh assured the delegates that the problems of the single women will be adequately addressed in the 12th Five year plan.

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