Latest News :

• Welcome to our website • We warmly welcome the new Postal Assistant recruits of Howrah Division. Our heartiest congratulations on your selection! • "Sangeet Sandhya" - 2013 held on 19th September 2013 was a huge success • Biennial Joint Conference of our Divisional Union concluded on 11.08.2013 at Howrah Stadium. 14th Book Grant Distribution ceremony was a huge success. 125 students received the book grant

Agenda for discussion in the Standing Committee of National Council(JCM).

Wednesday, 23 April 2014 0 comments

1. TERMS OF REFERENCE FOR THE 7th CENTRAL PAY COMMISSION .
2. Revision of Wage with effect from 01.01.2011 .
3. Merger of DA with Pay.
4. Appointment on compassionate grounds under the Central Government .
5. Regularisation of Casual/Contingent/Daily Rate workers.
6. Downsizing, Outsourcing, Contractorisation etc.
7. Revising Overtime Allowance(OTA) and Night Duty Allowance Rates .
8. Stepping up of pay of seniors who are drawing less pay than the juniors 
consequent on fixation of pay due to implementation of 6th CPC recommendations 
between Direct Recruits and Promotees.
9. Stepping up of pay of senior employees at par with their juniors consequent upon 
implementation of MACPS .
10. Granting of Additional Pay to Loco & Traffic Running Staff.







BHARTIYA POST -----MAY 2014 ----- EDITORIAL.

Tuesday, 22 April 2014 0 comments


POSTAL ASSISTANT CADRE DESERVES HIGHER PAY SCALE FROM 7TH CENTRAL PAY COMMISSION.
 
               Government of India has constituted 7th Central Pay Commission.  All Federations and Unions/Associations will be submitting their memorandums to the Pay Commission, either jointly or separately.  Everybody wants Pay Commission to examine and consider their demands regarding revised pay scales of their category, judiciously and dispassionately, so that justice will be done to each cadre.  National Federation of Postal Employees (NFPE) and all its affiliates will be submitting memorandum on each and every cadre of the Department of Posts and shall try its best to get a favourable recommendation from Pay Commission in respect of Pay Scales of each cadre including Gramin Dak Sevaks.  We are also exploring the possibility of submitting a joint memorandum by the entire staff side of the Department of Posts.  Regarding common demands of entire Central Government Employees staff side, JCM National Council and Confederation of Central Govt. Employees & Workers shall submit memorandum to 7th CPC.  Before that every attempt including agitation will be made to get the terms of reference of the Pay Commission amended, to include the proposal submitted by the Staff Side viz; date of effect from 01-01-2014, DA merger, Interim Relief, inclusion of GDS, inclusion of those appointed after 01-01-2004 in the old statutory pension scheme, Labour representative in Pay Commission, settlement of existing anomalies, Norms of fixing minimum wage, Party in Pension, Cashless-hassle free medicl facilities etc.
               As far as AIPEU Group-C (CHQ) is concerned our main concern and responsibility is to ensure justified and better pay scales and other benefits to the Postal Assistant and allied cadre.  We firmly believe that this time the Postal Assistant cadre and also all its allied cadres and promotional cadres shall get better pay cales from 7th CPC.  In all other Central Government departments each cadre is performing a particular nature of work only.  Income Tax Employees performs the duties related to Income Tax only.  Audit & Accounts employees perform the duties relating to Audit & Accounts only.  Bank Employees perform the duties related to Banking work only.  Insurance Employees perform the work related to Insurance only.  Likewise we can illustrate any number of examples.  In all these cases, it can be seen that the employees of all other departments are specialised to work in their own particular stream of office work only. 
               Contrary to this, there is only one cadre in the entire Central Government departments which performs more than ten types of different specialised duties related to different sections and the name of that cadre is Postal Assistant.  They have to learn and perform Banking work related to Savings Bank and Savings Certificates.  They have to learn and perform Insurance work relating to Postal Life Insurance including acceptance of policy proposal, premium collection to maturity closure and payments etc.  They have to perform the Accounts work in Accounts Branches of each Head Post Offices, they have to do Treasury work in all Post Offices, they have to perform the duties related to Mails, Sorting, delivery of all types of postal articles, they have to run financial services such as Money Orders including Electronic Money transfer, they have attend counter duties relating to booking of Registered, Speed Post, Money orders etc., They have to sell stamps and also application forms.  They have to perform the work of Public Relation Inspectors.  They have to perform the duties of Business Development activities and also as Marketing Executives.  After introduction of high-Technology in all areas of work in Post Offices including Multi-purpose counter machines, Core Banking, PLI Computerisation, Online transactions, Accounts computerisation etc. each and every Postal Assistants is well versed with the computer-related work and some Postal Assistnts are engaged as System Administrators to set right the faults in the system and also to train the staff as and when new technology softwares are introduced.  Government has allotted 5000 crores for 100% computerisation of Post Offices.  Over and above all Postal Assistants are performing the duties of Postmasters which involves supervision of all the above mentioned work. 
               Thus unlike, any employee working in any other departments of Central Govt, or public sector undertakings, Postal Assistant Cadre is an all-in-one-cadre and hence called a “unique” cadre without any comparison. Naturally such a cadre deserves a better deal from the 7th Central Pay commission.
               The same is the case with all the allied cadres and promotional cadres of Postal Assistant such as LSG, HSG-II, HSG-I, Postmaster Grade I, II & III, P.O & RMS Accountants, Treasurers, System Administrators, Business Executives etc. AIPEU Group-C (CHQ) is convening a two days Special National Convention and Workshop on 2014 May 26th &27th at New Delhi, exclusively for discussion, debate and finalisation of 7th CPC memorandum relating to cadres represented by AIPEU Group-C. All circle secretaries and Branch/Divisional secretaries are invited to participate in the special convention and workshop and also to present their valuable suggestions to be included in the memorandum. The draft memorandum prepared in the National Workshop will be published in the websites calling for further suggestions from the members. After that the memorandum will be finalised by the Central Working Committee of AIPEU Group-C to be held in the month of August or earlier in Andhra Pradesh. This is a serious business and a first step for ensuring betterment of our pay scales and service conditions and in this process we want to ensure total participation and involvement of the rank and file leaders and members, in a most democratic and transparent manner.




PA-- SA EXAM. STUDY CAMP FOR THE APPLICANTS OF THE COMING PA /SA EXAM. IN OUR DIVISION .

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All India Postal Employees Unions, Group-C, Howrah Division is going to organize a study camp for the candidates who will appear to the examination of PA/SA cadre, West Bengal Circle for the year 2014. It is our firm belief that this study camp will definitely help the candidates to grow a clear conception on the entire examination process. Being inspired from the study camp as organized earlier by our CHQ and Kerala Circle, we are trying to offer our best possible supports to the willing candidates who will participate this camp, so that they can prepare themselves in well manner before appearing this exam . We will also provide some study materials to all the participants of this camp, which may  help them .  For details, the willing candidates may contact with  Sri SANTANU JANA (9831659784) or the Secretary of our Gr.-C  union on his Phone Number given in our website. The date, time and venue of the Study Camp will be announced very shortly



STUDY CAMP FOR THE APPLICANTS OF THE COMING PA /SA EXAM. IN WEST BENGAL CIRCLE .Another initiative of our comrades of Howrah Division.

Thursday, 17 April 2014 0 comments

All India Postal Employees Unions, Group-C, Howrah Division is going to organize a study camp for the candidates who will appear to the examination of PA/SA cadre, West Bengal Circle for the year 2014. It is our firm belief that this study camp will definitely help the candidates to grow a clear conception on the entire examination process. Being inspired from the study camp as organized earlier by our CHQ and Kerala Circle, we are trying to offer our best possible supports to the willing candidates who will participate this camp, so that they can prepare themselves in well manner before appearing this exam . We will also provide some study materials to all the participants of this camp, which may  help them .  For details, the willing candidates may contact with  Sri SANTANU JANA (9831659784) or the Secretary of our Gr.-C  union on his Phone Number given in our website. The date, time and venue of the Study Camp will be announced very shortly. 



GDS- DA ORDER ISSUED.

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HAPPY BENGALI NEW YEAR TO ALL.

Wednesday, 16 April 2014 0 comments






DIRCETORATE NEWS -- GDS DA ORDERS.

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  GDS DA ORDERS – FILE UNDER PROCESS.   LIKELY TO BE RELEASED VERY  SHORTLY.


CONVENTION AT ''SIKSHA BHAVAN'' AT 58 GATE, GARCHUMUK ON 20.04.2014 (SUNDAY). JOIN IN MASS.

Sunday, 13 April 2014 0 comments

MAKE THE CONVENTION A GRAND SUCCESS BY THE ACTIVE PRESENCE OF ALL OF YOU.

FROM ULUBERIA RAILWAY STN. BY BUS,AUTO ETC. REACH ''SIKSHA BHAVAN'' AT 58 GATE. LUNCH WILL BE PROVIDED AT THE VENUE. REACH THE VENUE SHARP AT 10:00 a.m.




ZONE MEETING & ZONE CONVENTION AT BAGNAN & GARCHUMUK.

Saturday, 12 April 2014 0 comments


MEMBERS ARE REQUESTED TO ATTEND THE ZONE MEETING AT BAGNAN ON 17.04.2014 (THURSDAY ) & ZONE CONVENTION OF ULUBERIA ZONE AT GARCHUMUK (NEAR 58 GATE) ON 20.04.2014 (SUNDAY). THE CONVENTION AT GARCHUMUK WILL BE STARTED AT 10:00 a.m. ON 20.04.2014. ALL MEMBERS ARE REQUESTED TO ATTEND THESE MEETINGS WITH ALL SERIOUSNESS . THERE WILL BE ARRANGEMENT OF LUNCH ON 20.04.2014. LET US MAKE ALL THESE MEETING & CONVENTION A GRAND SUCCESS. JOIN IN MASS.



Closing of Central Govt. Offices in connection with general election to the Lok Sabha and State Legislative Assemblies and bye-elections to Legislative Assemblies during 2014.

Wednesday, 9 April 2014 0 comments





FM REPLIED IN RAJYASABHA---FAMILY PENSION SCHEME TO CONTINUE IN THE CASES OF CG EMPLOYEES UNDER NPS.

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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
RAJYA SABHA
STARRED QUESTION NO-350
ANSWERED ON-18.02.2014
Family pension under NPS
350 . SHRI PRABHAT JHA
Will the Minister of FINANCE be pleased to state:
(a) the details of cases of family pension sanctioned, so far, under the New Pension Scheme (NPS) to the families of deceased Central Government employees;
(b) whether family pension at the rate of old pension scheme to these family members of deceased employees has been stopped after coming into force of the New Pension Scheme;
(c) if not, the fate of those who have been receiving family pension under NPS at the rate of old pension scheme;
(d) whether some of the deceased employees have left behind them only few thousands rupees as Contributory Pension Fund (CPF) with the National Securities Depository Limited (NSDL); and
(e) if so, how Government would pay them family pension from their CPF?

ANSWER

FINANCE MINISTER
(SHRI P. CHIDAMBARAM )

(a): Central Pension Accounting Office has informed that as per its records there are 1900 cases of family pension and 20 cases of disability pensionunder National Pension System (NPS).
(b) and (c): The pension of the Government servants (except in the Armed Forces) appointed on or after 01-01-2004 is regulated by the NPS which is adefined contribution pension system. Employees appointed in the service of Central Government prior to this date are not covered by NPS. However, even after the introduction of NPS, the benefit of family pension is available to the families of the deceased Central Government employees covered under the NPS. Hence, family pension, at the rate of old pension scheme, to family members of deceased employees, who were in the service of the Central Government on or after 01-01-2004, is not denied or affected due to the implementation of NPS, as per the Office Memorandum (OM) No. 38/41/06/P&PW(A) dated 05-05-2009 of the Department of Pension and Pensioners Welfare, Ministry of Personnel, Public Grievances and Pensions. This OM envisages payment of various benefits on death/discharge of a Government employee after adjustment of the monthly annuitised pension from the accumulated funds in the NPS account of the employee.
(d) and (e): National Securities Depository Limited (NSDL) has informed that a few deceased employees, who passed away within a short span after joining NPS, had minimal accumulated pension wealth in their NPS accounts. However, as stated in reply to parts (b) and (c) above, the family members of the deceased employees are covered by the family pension.

Source : rajyasabha.nic.in




Digitization of Service Books of employees at Head Post Offices- Nomination of Single Point of Contacts (SPOCs).

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PERSONNEL DIVISION LETTER NO.25-4/2013-SPG DATED 7TH APRIL, 2014

 The Competent Authority has decided to nominate Accountant of each Head Post Office as Single Point of Contact (SPOC) for digitization activity under the Core System Integrator (CSI) in his Post Office. He will help the digitization team in reading and understanding the Service Book entries and identifying the documents that are scanned. After the quality check by the digitization team, he will verify the entries entered in the system with the respective Service Books and also ascertain whether the relevant documents have been scanned properly. Subsequently, He will submit a report in this regard to the Divisional Head/Unit Head providing list of employees, whose Service Books have been digitized and the relevant documents have been scanned; and also the list of missing documents employee-wise.It has also been decided that as the work is HPO specific, the concerned Divisional Head/Unit Head will nominate Sr. PM/PM or ASP/IP of the Division/Unit in case of non-availability of regular HSG-I/HSG-ll Postmaster for each HPO for checking, countersigning and releasing the list of employees, whose Service Books have been digitized and list of missing documents employee-wise to the TCS Digitization Team.

 



BEAT CODE TO SUFFIX PINCODE & PREPARATION OF ADDRESS DATABASE-- COPY OF ONE LETTER FROM SECRETARY,DEPT.OF POSTS.

Monday, 7 April 2014 0 comments





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DOP - DA ORDER .

Thursday, 3 April 2014 0 comments





Letter to Directorate-- Ordering for training at the eleventh hour - untold suffering to trainees - reg.

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COPY OF THE LETTER OF OUR GS ADD.TO THE HONBLE' SECRETARY POST, FOR EARLY JOINING OF THE NEWLY SELECTED PAs IN WB CIRCLE.

Wednesday, 2 April 2014 0 comments

AS WE HAVE ALREADY MENTIONED IN OUR POST DTD.20.03.2014, THE COPY OF THE SAID LETTER IS REPRODUCED BELOW:



POSTMAN EXAM. & MTS EXAM. DATE CHANGED. CANDIDATES PL.NOTE IT.

Wednesday, 26 March 2014 0 comments


Postman examination of 2013 will be held on 04-05-14 and MTS examination of 2013 will be held on 18-05-14. ALL  ARE REQUESTED TO INTIMATE THE APPLICANTS REGARDING THE CHANGE OF DATES. 


NEXT WORKING COMM.MEETING TO BE HELD ON 02.04.2014 AT THE MEDICAL HALL,HOWRAH.

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OUR NEXT JOINT W/C MEETING WILL BE HELD AT THE HOWRAH MEDICAL HALL ON 2ND. APRIL 2014 (WEDNESDAY). ALL W/C MEMBERS ARE REQUESTED TO ATTEND THE MEETING (AVAILING SPECIAL CL/ SUITABLE OFF) ON TIME.


NFPE Letter to Directorate for extending date for submission of PA/SA online application.

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SB order- Changes in statutory Rules of POSB in the backdrop of implementation of CBS .

Tuesday, 25 March 2014 0 comments







FLASH NEWS.

Saturday, 22 March 2014 0 comments


1. Revision of HSG I Recruitment Rules -- On the Way:
 It is informed that the Revised HSG-I Recruitment Rules has been approved by the DoPT. Now the clearance of Law Ministry is pending. As per the DoPT instructions, minimum 5 years service is required for promotion from HSG II to HSG I. All Circle Secretaries /Divisional Secretaries are instructed to take immediate action to fill up all the HSG I vacancies as per the existing HSG I Recruitment Rules if not already done especially before notification of revised rules.
               2.  Cadre Restructuring Committee— Present Stage:
The DDG(P) & Chairman, Cadre Restructuring Committee intimated that the current Proposal (Click to see)  submitted by the Staff side is to be put for discussion under internal meeting of the official side (Govt.side). Thereafter formal Cadre Restructuring Committee Meeting with the Staff side (Union side) will be convened shortly to finalize our current proposal.

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EARLY JOINING OF THE SELECTED PA/SA'S -- NFPE IS TRYING HARD -- CHQ HAS TAKEN UP THE CASE WITH THE SECRETARY POST.

Thursday, 20 March 2014 0 comments

AS YOU ALREADY KNOW THAT, DUE TO PENDING POLICE VERIFICATION REPORT IN VARIOUS DIVISIONS OF OUR CIRCLE, IN HOUSE TRAINING OF THE SELECTED PA/SA CANDIDATES COULD NOT BE STARTED. VERY RECENTLY OUR CIRCLE UNION HAS WRITTEN A LETTER TO CHQ TO SETTLE THIS PROBLEM IMMEDIATELY. IT'S A GOOD NEWS FOR US THAT, CHQ ALSO HAS TAKEN THE ISSUE WITH THE SECRETARY POST, & COM.KRISHNAN HAS WRITTEN A LETTER (COPY OF WHICH WILL BE PUBLISHED VERY SHORTLY) TO THE SECRETARY POST TO SETTLE THE ISSUE WITH OUT ANY FURTHER DELAY. WE HOPE FOR A POSITIVE SOLUTION OF THIS ISSUE AT AN EARLIEST. BECAUSE WE ARE SUFFERING A LOT DUE TO WANT OF EMPLOYEES THROUGH OUT THE CIRCLE. LET'S HOPE FOR THEIR EARLY JOINING IN OUR DEPARTMENT.




ENHANCEMENT OF THE PAYMENT RATE OF THE PART TIME WORKERS FROM Rs.232.00 to Rs.245.00 (for 8 hours) PER DAY.

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DRM rate has been revised by the Ch. PMG, WB Circle to the amount of Rs. 245/- per day(i.e. 8 hours duty) and the wages should be paid on pro-rata basis @ Rs. 30.62 per hour. The revised rate will be in force with immediate effect.
CO memo no. EST/B/Z-89/82/casual labour/part time/ part-II dated 19-03-14



RURAL INFORMATION & COMMUNICATION TECHNOLOGY SOLUTION - DEPARTMENT OF POSTS.

Friday, 14 March 2014 0 comments


A BROAD OUTLOOK ON IMPLEMENTATION OF RURAL ICT IN BRANCH POST OFFICES
published on request from interested GDS on computerization & modernization of Branch Offices.

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CIRCLE UNION WROTE TO THE CENTRAL HEAD QTR. TO TAKE UP THE ISSUE OF JOINING OF NEW P.A.s WITH POSTAL DIRECTORATE IMMEDIATELY.

Wednesday, 12 March 2014 0 comments



   The copy of the letter is produced below for the knowledge of all.


All India Postal Employees Union Group-C
West Bengal Circle
37, Ganesh Chandra Avenue, Kolkata-13.
No: PC-37/Training                                                                                             Dated 11.03.2014.
To,                                                                                     MOST  URGENT
   Com. M.Krishnan,
   General Secretary,
   AIPEU Gr-C (CHQ),
   Dada Ghosh Bhavan,
   New Delhi.
                                          Sub: Arrangement of immediate joining of newly selected P.A.s in West Bengal Circle.
Dear Comrade,
                                 This is for your information that 409 new Postal Assistants have been selected in West Bengal Circle for the year 2011-12. Though the result has been declared in the month of December 2013, their joining has been halted due to non-completion of Police Verification Report (PVR). The department and the selected candidates have done everything on their parts, but the reports are pending almost in all cases with the Police Authority. Now as the calendar of the 16th Lok Sabha Election has been declared and it is the priority of State Administration, it appears far-fetched that Police authorities would do anything in coming three months or so.
                         In addition to the above candidates, the vacancy for the year 2013-14 has been declared and another 534 PAs will be waiting soon for joining in this Circle. Due to the acute shortage of staffs, the NFPE Group of Unions requested the Circle Administration to arrange their joining after providing in-house training like yesteryears, and the Chief PMG also discussed the matter in a recent video-conference with the concerned member of the Postal Directorate. But the Directorate rejected the proposal saying that provision of in-house training and joining thereafter was permitted only for two years relaxing the rule, and it could not be extended any more. At present, PVR is a pre-condition of induction training in Postal Training Centers (PTCs) and joining will follow after that. This is going to cause inordinate delay. There is also a possibility that if the PV Reports come early for some candidates from the bottom of the merit list, they would avail the training first and would be senior to the toppers.
                        This Circle Union has also cited that in North Bengal Region, an in-house training for candidates of 2011-12 has already been started and so, it should be allowed in all other regions of West Bengal Circle. But due to the rejection of the Directorate, the Chief Postmaster General has expressed his handicap and has requested us to approach the Directorate through the All India Union.
                        Thus, the present situation is ---- despite having huge vacancy and workload on the existing staffs in one side and a good number of capable, willing and successful candidates on the other, our Circle is losing their service and they are losing their seniority. They are in severe anxiety and mental strain. The irrational rigidity of the Postal Administration has become the bone of contention and pain for all. Under such constraints, we would like to channelize the sentiment of all the selected candidates in West Bengal Circle and request you to please take up the issue with the Directorate immediately for allowing the relaxation of the PVR condition this year due to announcement of the election, so that the department can get the service of the new P.A.s at the earliest. As the largest organisation in the department and also as most of the new P.As are with us in this Circle, we need to redress this issue with priority. Therefore, we are sincerely requesting your special attention.
                        With greetings,                                                                     Comradely yours,
                                                                                                                      Janardan  Majumder
                                                                                                                        Circle Secretary
Copy to:
   All Divisional Secretaries, Group-C, West Bengal Circle ---- for information of all members and candidates.
Circle Secretary


Declaration of Holiday on 14th April, 2014— Birthday of Dr. B.R. Ambedkar.

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JCA Writes to DOP&T on Terms of Reference of the 7th CPC.

Friday, 7 March 2014 0 comments


NATIONAL FEDERATION OF POSTAL EMPLOYEES
1st Floor, North Avenue Post Office Building, New Delhi – 110001
FEDERATION OF NATIONAL POSTAL ORGANISATIONS
T-24, Atul Grove Road, New Delhi - 110001
 



Ref: JCA/Postal/2014                                                                                             Dated – 06.03.2014

To

The Secretary
Department of Personnel & Training
Ministry of Personnel, Public Grievances & Pensions,
North Block, New Delhi – 110001

Dear Sir,

Sub: -  Terms of Reference of the 7th Central Pay Commission.

We have gone through the Terms of Reference of 7th Central Pay Commission approved and notified by the Government on 28.02.2014. We find that the Terms of Reference finalized by the Government is at variance in many respects to the Draft Terms of Reference the Staff Side had submitted to you on 25.10.2013 after holding in-house discussion on 24.10.2013.

At the conclusion of the meeting held on 24.10.2013, it was agreed that the Government would consider our suggestions in the matter and will convene another meeting with the presence of the Secretary (Expenditure) to iron out the differences, if any, and explore the possibilities of an agreement in the matter.

We regret to inform you that no such meeting was convened and no attempt was made by the Official Side to arrive at an agreed Terms of Reference. We find that the Government has rejected the suggestions of Staff Side for either taking a decision in the matter of Interim Relief, Merger of DA, representation of labour nominee in the Commission itself, inclusion of the Grameen Dak Sewaks within the purview of the 7th CPC, bringing parity in pension between the past and present pensioners, covering the employees appointed on or after 01.01.2004 within the ambit of the Defined Benefit Pension Scheme, date of effect, settlement of the pending items in the National Anomaly Committee etc. or referring those issues to the Commission itself for an Interim Report.

Besides, we are to state that the existing Productivity Linked Bonus (PLB) Scheme, being a bilateral agreement, cannot be subjected to scrutiny and examination by the 7th CPC.

We, therefore request you to kindly convene a meeting of the Standing Committee of National Council (JCM) to discuss the issue, so as to make amendments to the Terms of Reference finalized by the Government arbitrarily.
Yours faithfully,



                                                                                                           
(D. Theagarajan)                                                                              (M. Krishnan)
Secretary General, FNPO &                                                              Secretary General, NFPE &
Member, National Council - JCM                                                     Member, National Council - JCM
Mobile: 09968349422                                                                      Mobile: 09447068125   

E-mail: theagarajannachi@hotmail.com                                         E-mail: mkrishnan6854@gmail.com



GPF INTEREST FOR 2014-15 is 8.7 %.

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CONGRATULATIONS TO ALL OF OUR VISITORS,NO.OF OUR VISITORS JUST CROSSED THE LANDMARK OF 1,00,000 TODAY.

Wednesday, 5 March 2014 0 comments





REVISION OF INTEREST RATES OF POST OFFICE SMALL SAVINGS SCHEMES FOR 2014-2015.

Tuesday, 4 March 2014 0 comments


Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15
Press Information Bureau
Government of India
Ministry of Finance
04-March-2014

Revision of Interest Rates for Small Savings Schemes for the Financial Year 2014-15 Announced

            Various decisions taken by the Government of India on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), were communicated to all concerned by the Government through its Office Memorandum dated 11th November, 2011.

            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 with the approval of the Finance Minister, the rates of interest on various small savings schemes for the Financial Year 2014-15 effective from 01.04.2014, on the basis of the interest compounding/payment built-in in the schemes, shall be as under :

Scheme
Rate of interest 
w.e.f.01.04.2013
Rate of Interest  
w.e.f. 01.04.2014
(1)
(2)
(3)
Savings Deposit
4.0
4.0
1 Year Time Deposit
8.2
8.4
2 Year Time Deposit
8.2
8.4
3 Year Time Deposit
8.3
8.4
5 Year Time Deposit
8.4
8.5
5 Year Recurring Deposit
8.3
8.4
5 Year SCSS
9.2
9.2
5 Year MIS
8.4
8.4
5 Year NSC
8.5
8.5
10 Year NSC
8.8
8.8
PPF
8.7
8.7

 Source:PIB
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All India Postal Employees Union, Group - C, Howrah Division, West Bengal Circle, India © 2011-14 | Administrator
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