Click here to view view DoPT OM No. 22011/1/2011-Estt (D) dated 13.12.2013 on the above subject matter.
Monday, 13 January 2014
Declaration of result of Inspector Posts Examination 2013 & Postmaster Grade-I Examination 2013 - an update
It is learnt that result of LDCE for promotion to the cadre of PM Grade-I held on 30/6/2013 is expected within fortnight and result of LDCE for the promotion to cadre of Inspector Posts held on 14th and 15th September 2013 is likely to be announced by the end of this month.
Source : IP/ASP CHQ blog
EPFO approves raising Provident Fund interest rate to 8.75%
Retirement fund body EPFO on Monday decided to increase the rate of interest on Provident Fund deposits to 8.75% for 2013-14, a move that will benefit about 5 crore subscribers.
"We have decided to recommend to the government 8.75% rate of interest for 2013-14 to its subscribers," labour minister Oscar Fernandes told reporters after a meeting of the EPFO trustees.
The Central Board of Trustees, which is the apex decision-making body of the Employees' Provident Fund Organization (EPFO), met on Monday and approved the interest rate.
According to sources, the body had surplus funds, which enabled the interest rate to be increased from 8.5% in the previous financial year (2012-13).
The EPFO's recommendation will be vetted by the finance ministry. Once the ministry approves the decision, the interest would be credited to the accounts of subscribers.
According to sources, the decision to enhance the rate was taken in view of the forthcoming Lok Sabha polls.
The EPFO is estimated to have an income of Rs 20,796.96 crore in the current financial year.
Payment of interest at the rate of 8.5% to subscribers would have required Rs 20,740 crore and left a surplus of Rs 56.96 crore, according to earlier projections.
Source:-The Times of India
POSTMAN STORED PROCEDURE ISSUES AND SOLUTION
Postman 7.9 RegNet_Msg_ParcelCODDelivered Error
Issues 1
Run-time error '-2147217900 (80040e14)':
[Microsoft][ODBC SQL Server Driver][SQL Server]Could not find stored procedure 'dbo.RegNet_Msg_ParcelCODDelivered'.
Solution 1
- Download attached Script from PoTools provided by CEPT.
- Execute once using MM Script Tool.
Download 1
RNet_Msg Exl
Issues 2
Run-time error '-2147217900 (80040e14)':
[Microsoft][ODBC SQL Server Driver][SQL Server]Could not find stored procedure 'postman.dbo.Transfer_ParcelCOD_to_Ecounter'.
[Microsoft][ODBC SQL Server Driver][SQL Server]Could not find stored procedure 'postman.dbo.Transfer_ParcelCOD_to_Ecounter'.
Run-time error '440':
Automation error.
Automation error.
Solution 2
Download attached script from PoTools given by CEPT.
Execute once Using MM Script Tool.
Download 2
Transfer ParcelCOD Exl
Aadhaar is adequate to open a bank account: RBI
The Reserve Bank of India’s committee on comprehensive financial services for small businesses and low-income households headed by Nachiket Mor on Friday said that the Aadhaar process was adequate to enable every Indian to get a bank account by January 1, 2016.
“Target is dependent on our perception of what is happening to Aadhaar. The bank account target is really an electronic target, as we have articulated it. The big task in really opening a bank account is verifying all the documents and the customer. This is all being done by Aadhaar. The thought was that banks make use of the verification being done by Aadhaar. As soon as an Aadhaar is issued, only an instruction has to be issued to a willing bank to go ahead and open an account. So, opening the account should not be a difficult task unless you argue that Aadhaar accounts will not be done by 2015,” said Mr. Mor, while addressing a press conference here.
“We had discussion with Nandan Nilekani also….. So, we fixed January 1, 2016, as a target,” said Mr. Mor adding, “if you think of it as an independent process, where banks have to go back and open these accounts, it will take a longer time. It also takes Rs.200-300 to open an account otherwise.”
The committee, while laying down its vision statement for financial inclusion and deepening, has suggested providing a universal bank account to all Indians above the age of 18 years by January 1, 2016. He said that the account opening process should be totally automatic and free. “But people will be happy to pay the money if you give them the service.”
FREQUENTLY ASKED QUESTIONS ON PLI
Q. What is
PLI?
A. A contract entered into by the Government to pay a given sum of money on the death of an individual to his nominee or himself, if he survives that period.
Q. When did PLI start?
A. PLI as a scheme is available since 01.02.1884.
Q. What is the difference between PLI and other Insurance?
A. PLI is only for Government and Semi-Government employees. Moreover PLI is the only Insurer that offers
low premium and high bonus.
Q. Is PLI guaranteed? If so, by whom?
A. PLI is guaranteed by Government of India.
Q. Is there any limit to the number of policies one can take for children?
A. One can take policies for two children.
Q. What is the necessity of sending the PLI Policy Bond to office address of the Insurant? Why can this not be sent to the residence of Policy holder?
A. PLI policy is issued to people who are employed under Government/Semi-Government sector etc. That
is why the policy bond is sent to the Office address of the Insurant.
Q. How can a policy be transferred from one PO to other?
A. The system of transfer of PLI policy is very simple. The policy holder can apply to the Chief Post Master General through the Post Office where the policy stands or the PO in which he desires to pay the premium. The PO will accept the application and send to the CPMG (PLI).
Q. Which type of PLI policy among your scheme is more beneficial to opt for without hesitation?
A. All policies in PLI are beneficial. Every scheme has some unique features. In EA policy, you will get your savings along with bonus after the prescribed number of years.
A. A contract entered into by the Government to pay a given sum of money on the death of an individual to his nominee or himself, if he survives that period.
Q. When did PLI start?
A. PLI as a scheme is available since 01.02.1884.
Q. What is the difference between PLI and other Insurance?
A. PLI is only for Government and Semi-Government employees. Moreover PLI is the only Insurer that offers
low premium and high bonus.
Q. Is PLI guaranteed? If so, by whom?
A. PLI is guaranteed by Government of India.
Q. Is there any limit to the number of policies one can take for children?
A. One can take policies for two children.
Q. What is the necessity of sending the PLI Policy Bond to office address of the Insurant? Why can this not be sent to the residence of Policy holder?
A. PLI policy is issued to people who are employed under Government/Semi-Government sector etc. That
is why the policy bond is sent to the Office address of the Insurant.
Q. How can a policy be transferred from one PO to other?
A. The system of transfer of PLI policy is very simple. The policy holder can apply to the Chief Post Master General through the Post Office where the policy stands or the PO in which he desires to pay the premium. The PO will accept the application and send to the CPMG (PLI).
Q. Which type of PLI policy among your scheme is more beneficial to opt for without hesitation?
A. All policies in PLI are beneficial. Every scheme has some unique features. In EA policy, you will get your savings along with bonus after the prescribed number of years.
Q. Whether
salaried professionals in Private Sector can join PLI?
A. Such categories are not eligible but they can have RPLI policies subject to fulfilling other conditions.
Q. If one spouse is working in a Government Organization but the other is not, is there any scheme in PLI for both?
A. We have 'Yugal Suraksha' scheme under which both can jointly get a policy. After paying a little more premium, both can be covered under this assurance scheme.
Q. Can one continue the policy if one quits the Government service?
A. One can continue by making payment at any one of the 1, 55,000 post offices throughout the country, even after quitting service..
PREMIA PAYMENT
Q. What is the mode of premium deposit?
A. The Premium Receipt Book is issued to the Insurants for the deposit of Premium in any departmental PO, and there is a facility of recovery from pay for all employees belonging to the Central Government.
Q. Is there any other mode of payment?
A. The premium can be paid through Cheque.
Q. Is premium recovered through salary?
A. Yes, recovery of the premia through salary is possible, in offices where it is remitted directly to PLI. In case where it is not, it is possible by appointing a Group Leader, who collects the premia from the insurants and deposits in a post office along with PR book. However, premia are to be deposited in any post office as per convenience i.e. monthly/half yearly/ yearly where there is no recovery through salary.
Q. Why is the premia for children’s policy higher?
A. As both children’s and parent’s risk is covered.
Q. Can one revive a lapsed policy?
A. If the premia are not paid for 6 months in case policy is in currency for 3 years (or) 12 months in case policy is more than 3 years old, then the policy becomes void. This needs revival to make it active. Revival shall not be allowed on more than two occasions during the entire term of the policy. Policy can be revived any time one year before maturity.
Q. What happens if one forgets to pay one’s premium in a month?
A. One can pay the premium in the subsequent month, by paying a minimum fine of Re. 1/- per hundred of sum assured.
LOAN
Q. Is loan facility available in PLI?
A. Loan can be taken from EA policy after completion of 3 years and in respect of Whole Life after completion of 4 years. Loan facility is available in AEA policies.
Q. Is Home loan available?
A. No
Q. What are the terms on which loan can be availed?
A. Such categories are not eligible but they can have RPLI policies subject to fulfilling other conditions.
Q. If one spouse is working in a Government Organization but the other is not, is there any scheme in PLI for both?
A. We have 'Yugal Suraksha' scheme under which both can jointly get a policy. After paying a little more premium, both can be covered under this assurance scheme.
Q. Can one continue the policy if one quits the Government service?
A. One can continue by making payment at any one of the 1, 55,000 post offices throughout the country, even after quitting service..
PREMIA PAYMENT
Q. What is the mode of premium deposit?
A. The Premium Receipt Book is issued to the Insurants for the deposit of Premium in any departmental PO, and there is a facility of recovery from pay for all employees belonging to the Central Government.
Q. Is there any other mode of payment?
A. The premium can be paid through Cheque.
Q. Is premium recovered through salary?
A. Yes, recovery of the premia through salary is possible, in offices where it is remitted directly to PLI. In case where it is not, it is possible by appointing a Group Leader, who collects the premia from the insurants and deposits in a post office along with PR book. However, premia are to be deposited in any post office as per convenience i.e. monthly/half yearly/ yearly where there is no recovery through salary.
Q. Why is the premia for children’s policy higher?
A. As both children’s and parent’s risk is covered.
Q. Can one revive a lapsed policy?
A. If the premia are not paid for 6 months in case policy is in currency for 3 years (or) 12 months in case policy is more than 3 years old, then the policy becomes void. This needs revival to make it active. Revival shall not be allowed on more than two occasions during the entire term of the policy. Policy can be revived any time one year before maturity.
Q. What happens if one forgets to pay one’s premium in a month?
A. One can pay the premium in the subsequent month, by paying a minimum fine of Re. 1/- per hundred of sum assured.
LOAN
Q. Is loan facility available in PLI?
A. Loan can be taken from EA policy after completion of 3 years and in respect of Whole Life after completion of 4 years. Loan facility is available in AEA policies.
Q. Is Home loan available?
A. No
Q. What are the terms on which loan can be availed?
EA policies
after 3 years from date of issue of policy.
WLA policies
after 4 years.
Interest 10%
p.a. Calculated on six monthly basis
Loan
entitlement is calculated on a prefixed proportion of these surrender value
Interest
should be paid on(or) before 21st of due month (i.e. 6 monthly once)
SURRENDER
Q. What is surrender value of a policy?
A.” Surrender value” of a policy, means the amount that is payable to an assured, when he foregoes the contingent benefit of his policy and surrenders it for an immediate cash payment.
Q. What will be the surrender value of the policy?
A. Surrender value depends on the surrender factor and type and term of policy.
Q. Can one get the full amount paid with accrued bonus, if policy is surrendered prematurely?
Q. What is surrender value of a policy?
A.” Surrender value” of a policy, means the amount that is payable to an assured, when he foregoes the contingent benefit of his policy and surrenders it for an immediate cash payment.
Q. What will be the surrender value of the policy?
A. Surrender value depends on the surrender factor and type and term of policy.
Q. Can one get the full amount paid with accrued bonus, if policy is surrendered prematurely?
Endowment
Assurance policy can be surrendered after 36 months.
WLA policy
can be surrendered after 48 months.
Children
policy can be surrendered after 60 months.
No surrender
for AEA policy.
Bonus will
be taken into account after 5 years for surrender value calculation on the paid
up value. But surrendering any policy prematurely is always a loss to the
insurant. Hence, it is suggested not to go for surrender.
It is not a simple saving scheme but it aims to give risk coverage also.
It provides immediate Insurance coverage from the date of acceptance. Full policy amount with accrued bonus will be given even if death occurs on the very next day of acceptance of the proposals for all bonafide cases.
It is not a simple saving scheme but it aims to give risk coverage also.
It provides immediate Insurance coverage from the date of acceptance. Full policy amount with accrued bonus will be given even if death occurs on the very next day of acceptance of the proposals for all bonafide cases.
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