This blog is meant for use by members of the Association for news and views. Send comments / suggestions / views to e-mail Id: aiaipasp.ors@gmail.com

Friday, September 30, 2016

Special Donation from members for fund raising of Circle Branch and CHQ

Sl. No.
Date of Payment
Name of IP/ASP
Receipt No.
Amount in Rs.
1
14-09-2016
Tapas Ku. Dash
1200
2000
2
14-09-2016
Pitabasa Jena
1201
2000
3
14-09-2016
Bibhudatta Behera
1202
2000
4
15-09-2016
Prasanta Ku. Patra
1203
2000
5
15-09-2016
Laxmi Narayan Mishra
1204
2000
6
16-09-2016
Debi Pd. Nayak
1205
2000
7
16-09-2016
Gopesh Dash
1206
2000
8
19-09-2016
Manoj Ku. Pattnaik
1210
2000
9
20-09-2016
Madhusmita Padhi
1211
2000
10
20-09-2016
M.S.K. Dora
1213
2000
11
21-09-2016
H.S. Mohapatra
1214
2000
12
21-09-2016
Debaraj Sethi
1215
2000
13
23-09-2016
Mrutyunjaya Bera
1216
2000
14
23-09-2016
Gyan Ranjan Pradhan
1218
2000
15
23-09-2016
Gajendra Prasad Kar
1219
2000
16
23-09-2016
Dibya Singha Tripathy
1220
2000
17
23-09-2016
Bijay Ku. Mohanty
1221
2000
18
27-09-2016
Ashit Ku. Nayak
1224
2000
19
27-09-2016
Raghunath Sahu
1225
2000
20
27-09-2016
Khageswar Mallick
1226
2000
21
28-09-2016
Balkrishna Kar
1227
2000
22
29-09-2016
Bhagyadhar Das
1228
2000
23
29-09-2016
Arunabala Mohanty
1230
2000
24
29-09-2016
Sarbeswar Choudhury
1231
2000
25
29-09-2016
Sambhu Ku. Singh
1232
2000
26
29-09-2016
Deepak Kumar
1233
2000
27
30-09-2016
A.   Palanisamy
1234
2000

Those members who have not paid the special donation are requested to remit the amount to the Circle Secretary by 1st week of October, 2016.

The amount can also be credited in the following account in any CBS Post Office and the photocopy/scanned copy of the pay-in-slip may kindly be sent through email to jpitabasa@gmail.com and / or pitabasa.j@indiapost.gov.in for issuance of receipt and proper accounting.

SB Account No.                  : 0743253167 (Bhubaneswar GPO)


Another Message:- There are few members who have not paid the special donation of Rs.1,000/- for 40th Circle Conference held on 07-02-2016. Circle Working Committee discussed the issue on 04-09-2016 at Puri and decided to ensure collection of the special donation of Rs.1,000/- from the members who have not paid so far. Therefore, these members are requested to remit special donation of Rs.1,000/- which is due from them by 1st week of October, 2016. Thereafter the list of defaulters may be published in the Blog. 

Small savings schemes interest rate cut by 0.1%

Rate of interest on small savings schemes have been cut marginally by 0.1%. The popular National Savings Certificate and Public Provident Fund (PPF) will see their interest rates come down to 8.0% in October-December quarter from 8.1% in April-Jul quarter. Interest rates for small savings schemes are reset every quarter now. 

The Kisan Vikas Patra will now pay out 7.7% instead of 7.8% and mature in 112 months instead of 110. 

Senior citizens deposit scheme will now fetch 8.5%. Interest rate on Monthly Income Account scheme will come down to 7.7% from 7.8% in the previous quarter. The new rates will come into effect from October 1 and will remain in force till December 31. Interest rate for savings deposit remains unchanged at 4%, according to the notification issued by the finance ministry late Thursday. 


Source:-The Economic Times

India Post Payments Bank starts recruitment

Press Release


India Post Payments Bank has started its recruitment drive with the release of the advertisement for the post of the Chief Executive Officer/ Managing Director, the Chief Technology Officer (CTO), other CXOs who will be heading its Operations, Risk and Compliance, Finance, HR & Administration and Sales and Marketing Departments. It has also advertised for some contractual positions across multiple Departments. Regular recruitment for other positions across scale I-VII will also be announced in the coming weeks. IPPB has also called for deputations from Public Sector Banks for some corporate HQ positions and will shortly be seeking deputations from banks, post office & other Govt Depts for its branch locations. IPPB plans to recruit about 3500 professionals in the coming months. Details are available on the India Post website.
IPPB will be headquartered in New Delhi and plans to launch 650 branches across the country by the next year. The India Post Payments Bank will leverage the widespread reach and the trust that the Post office enjoys in the minds of the citizen to truly drive financial inclusion. With all 1.54 lac Post offices, including 1.39 lac rural post offices as its access points and 650 Payments bank branches in district HQ locations it will be the most accessible bank in the world in terms of reach. It will deploy state of the art technology to make banking both simple and convenient to its customers.
IPPB calls upon dedicated and committed professionals who would want to be part of the journey to create a national financial architecture which will connect every citizen with the financial services that they need to access.  

Clarification on treating the investment by guardian on behalf of minor and his own investment in Post office monthly income scheme(SB order No.08/2016)

To view please Click Here.

Thursday, September 29, 2016

Fixation of pay and grant of increment in the revised pay structure - clarifications - regarding

To view please Click Here. 

Revision of interest rates for Small Savings Schemes to be effective from third quarter of Financial Year 2016-17


To view please Click Here.

UPU News: Member countries adopt new terminal dues system

UPU member countries agreed on a new remuneration system for delivering letters and small packets during the first week of deliberations at the Universal Postal Congress.


Starting in 2018 bulky letters and small packets, classified as E-format, will be compensated differently from other letter-post formats.
With increased volume of small packets being exchanged through the letter-post networks due to e-commerce, UPU member countries have been seeking a new rate structure of compensation for handling of higher volumes of heavier items.
Member countries voted on the proposal during a meeting of Congress Committee 4, which focuses on issues related to the Universal Postal Convention.
“The terminal dues package that was approved by Congress last week represents a very carefully negotiated compromise,” said Committee 4 Chair, Siva Somasundram, who is also General Manager of International Regulatory Affairs with Australia Post.
Somasundram noted that experts have been working on developing a better system of remuneration since the last Universal Postal Congress in Doha in 2012. The proposal adopted last week was the result of much study and consultation with countries at various levels of development in each of the world’s regions.
“[The adopted terminal dues package] recognizes that member countries have as a whole agreed on three main principles,” said Somasundram.
“One, having all countries get to the target system; secondly, that costs coverage is important; and thirdly, that the remuneration system that the UPU agrees on doesn’t negatively impact the way in which customers respond to the associated services,” he said.
The terminal dues system was established by the 1969 Tokyo Congress as a means to compensate destination countries for the cost of handling, transporting and delivering letter-post items across borders.

Evolving system

UPU member countries also moved one step closer to the terminal dues target system, agreeing to merge the six current classification groups into four groups.
Countries are currently classified by their level of development, meaning those in the most developed groups pay contributions into the Quality of Service Fund on top of terminal dues to those in the less developed group. This mark up goes toward development projects in the recipient country.
The classification system was established at the 2008 Universal Postal Congress in Geneva and updated by the 2012 Doha Congress.
Starting in 2018, former Group 1.2 and Group 2 will be merged in the new Group II, while Groups 4 and 5 will make up the new Group IV. The goal is to eventually move all countries into a single target terminal dues system.
Thanks to an earlier decision made by Committee 6, which oversees proposals for development cooperation, a further one per cent mark up to terminal dues will be paid by countries in the target system into a new Common Fund of the QSF. The Fund will finance development projects in countries in groups II, III, and IV.

UPU News: Postal development gets a boost

UPU members have agreed to accelerate global postal development by making changes to the funding models of the Quality of Service Fund (QSF).

During the ongoing 26th UPU Congress in Istanbul, Turkey, members agreed to implement a new funding model that will ensure the sustainability of the QSF for improving the quality of postal services in developing countries.
Under the new model, the UPU will collect more contributions and build a ‘Common Fund’ that will be used to develop more large-scale global projects for the improvement of ecommerce and postal supply chain capabilities.
Delegates supported this new direction for the future of the Quality of Service Fund, urging member countries to help developing Posts transform and match the rest of the postal industry in order to create a sustainable seamless postal network.
The Chilean delegation noted that many less developed countries do not have the resources to implement the International Postal System (IPS), the UPU’s integrated international mail management application, meaning they are unable to take advantage of the e-commerce opportunity.
“A chain is only as strong as its weakest link and the role of the QSF is to strengthen all of the links,” noted the representative from Barbados.
Countries also agreed to extend the QSF until 2028.

Financial services

Funding support was also a concern for Congress Committee 5, which examines proposals regarding postal financial services.
The committee debated the UPU’s proposed new vision for postal payment services, which calls for the UPU to set up an interconnection platform to allow designated operators to exchange payment services with wider postal sector players.
This interconnection would be facilitated through the UPU’s International Financial System, an application facilitating the exchange of international money orders.
The goal is to modernize and extend the reach of the postal payments network to promote global financial inclusion through the Post.
“The new vision focuses on bringing an extended range of payment services to all citizens of the world,” said Mr. Abhas, Assistant Director General at India Post.
Countries voiced their support for the new vision, sharing their postal payment services success stories.
One such example was Tunisia, which noted financial gains after modernizing its postal payment services offering. These services now make up 70 per cent of the Post’s revenue.
In light of the new vision, the UPU will review necessary changes to the Postal Payments Services Agreement (PPSA), the UPU intergovernmental legal instrument, throughout the 2017 – 2020 work cycle. The changes will be submitted next Congress, after which the new vision will be implemented.