Declaration of Holiday on 14th April, 2012 – Birthday of Dr.B.R. Ambedkar

F. No.12/2/2012-JCA-2 
Government of India 
Ministry of Personnel, Public Grievances & Pensions 
(Department of Personnel & Training)

North Block, New Delhi 
Dated the 27th March, 2012.

OFFICE MEMORANDUM

Subject:- Declaration of Holiday on 14th April, 2012 – Birthday of Dr.B.R. Ambedkar.

   It has been decided to declare Saturday, the 14th April 2012, as a Closed Holiday on account of the birthday of Dr. B.R. Ambedkar, for all Central Government Offices including Industrial Establishments throughout India.

   2. The above holiday is also being notified in exercise of the powers conferred by Section 25 of the Negotiable Instruments Act, 1881(26 of 1881).

   3. All Ministries/Departments of Government of India may bring the above decision to the notice of all concerned.

sd/- 
(Ashok Kumar) 
Deputy Secretary to the Government of India

Cheques, drafts to be valid for 3 months from April

The Reserve Bank of India (RBI) has directed that with effect from April 1, 2012, banks should not make payments against cheques, drafts, pay orders or banker's cheques if they are presented after the period of three months from date of issue.
Come April 1 and cheques and bank drafts will be valid only for 3 months, a development that RBI thinks will help mitigate frauds related to such instruments.

Revision of interest rates for small savings schemes.

No.6-1.2011-NS.II(Pt.)

Ministry of Finance

Department of Economic Affairs

(Budget Division)

New Delhi, the 26th March, 2012

OFFICE MEMORANDUM

Sub: Revision of interest rates for small savings schemes.

The undersigned is directed to refer to Ministry of Finance's O.M. of even number dated 11th November, 2011, vide which the various decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned.

2. One of the decisions of the Government based on the recommendations of the Committee relates to revision of interest rates every financial year, to be notified before 1st April of that year. Accordingly, the rates of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in the schemes, shall be as under:

Scheme	Rate of Interest  w.e.f. 1.12.2011	Rate of Interest  w.e.f. 1.4.2012
Savings Deposit	4.0	4.0
1 year Time Deposit	7.7	8.2
2 year Time Deposit	7.8	8.3
3 year Time Deposit	8.0	8.4
5 year Time Deposit	8.3	8.5
5 year Recurring Deposit	8.0	8.4
5 year SCSS	9.0	9.3
5 year MIS	8.2	8.5
5 year NSC	8.4	8.6
10 year NSC	8.7	8.9
PPF	8.6	8.8

3. Necessary notifications, including those requiring amendments to rules of small savings schemes will be notified separately.

4. This has the approval of Finance Minister.

sd/-

(Shaktikanta Das)

Addl. Secretary to the Govt. of India

PS Group B Examination postponed to 03-06-2012

As communicated vide Directorate letter No.A.34012/01/2012-DE dated 9/3/2012, PS Group-B Examination scheduled to be held on 27.05.2012 (Sunday) has now been postponed to 03.06.2012 (Sunday).

Tax exemption limit raised to Rs 2 lakh.

The Finance Minister Pranab Mukherjee announced raising the tax exemption limit from the curent level of Rs 1.8 lakh to Rs 2 lakh. For income upto Rs 2 lakh, the tax deduction will now be nill. For those with an income between Rs 2-5 lakh the tax deduction would be 10%. For income between Rs 5-10 lakh the tax bracket will be 20%. Income above Rs 10 lakh will now come under the 30% tax bracket.

 

The Finance Minister also announced the introduction of DTC tax rates. Corporate tax rates were left unchanged. Savings accounts will now get Rs 10,000 tax deduction for interest earned.

The Parliamentary standing committee on finance had recommended an increase in basic tax exemption limit to Rs 3 lakh and another Rs 3.20 lakh rebate for eligible investments and spending in its report on the direct taxes code, or DTC. The Direct Taxes Code Bill had proposed the basic exemption limit of Rs 2 lakh.

PLACE OF POSTING

The following Inspector of Posts promoted to ASP Cadre on purely temporary and adhoc basis vide C.O. Memo No. ST/24-15(1)/2004 dated 15^thMarch, 2012 and allotted/posted as mentioned against each below:-

Sl. No.	Name                S/Shri	Present Place of Posting	Region/Unit to which allotted	Place of Posting
1.	Bijay Ku. Mishra	IP, Bhadrak East Sub-Division	Head Quarter Region	ASP(OD), Balasore Divn vice Shri Susen Peda transferred

Employees' Provident Fund rate lowered to 8.25% .

The Finance Ministry has given its nod for the Labour and Employment Ministry to fix the rate of interest payable to Employees Provident Fund subscribers at 8.25 per cent for 2011-12, instead of at 9.5 per cent paid in 2010-11.

The decision was taken in keeping with the finances of the Employees' Provident Fund Organisation, which manages the PF fund, a senior official said.

“They are paying from the interest they get from what they invested two or three years ago in financial institutions. So what is reflected now to the PF subscribers relates to the investment made earlier and the rate of interest that prevailed then in the market.” 

HAPPY HOLI

Assumption of Charge

Shri Bibhuti Bhusan Sahu, Sr. Operator,O/o Chief Administrative Officer, Bank Note Press, Dewas, Madhya Pradesh who was earlier posted as Office Supervisor, Bhadrak Division vide CO Memo No.ST/20-9/2011/Ch-I dated 14/2/2012, has joined on 05.03.2012 F/N. 

 

 

 

CHQ News : GS visited to Directorate on 29/02/2012.

Sri Vilas Ingle G.S IP/ASP Association has visited the  Directorate  along with Ex-GS Shri Roop Chand on 29.02.2012 and met with the  Member (P), various DDGs and other concerned officers. The following issues were discussed with them. The present status in respect of the issues as reportedn in CHQ Blog is as follows

      1.   Up-gradation of GP of IP from Rs. 4200/- to Rs. 4600/-.

 

File relating to implementation of Hon. CAT Ernakulam Bench judgement dated 19/10/2011 is still under examination in view of our letter dated 22/2/2012. File is likely to be sent to Ministry of Finance shortly.

 

2.   Restructuring of Inspectors Posts Cadre.

 

Next Meeting of the committee constituted to look into promotional prospects of IPOs/ASPs is likely to be convened by the Department in near future in view of decision of AIC conveyed to the Member (P) on 22/2/2012.

 

3.   Holding of supplementary DPC for promotion to PS Gr. B for the year 2011.

 

Decision has been taken by the Department to hold supplementary DPC. This process is likely to be completed within next 3-4 months. 

       

      4.   Holding of DPC for the promotion to JTS, Group A.

 

File is under process, which is likely to be completed within 2-3 months.

5.   Declaration of result of IP examination 2011.

 

Marksheet from CMC has been received by the Department which is under scrutiny. After scrutiny the result will be declared shortly.  

 

6.    Revision of rates of remuneration for performing duty as Invigilator in the examination.  

 

File is still pending with Internal Finance.

 

7.   Re-allotment of surplus IPs to their Home Circles.

 

The issue is not under consideration at Directorate. Surplus IPs can go to their Home Circle only after relieving by the concerned circle in which they are working.