Small Savings Accounts in Post Offices

The number of operational small savings accounts in the Department of Post as on 30/6/2011 are 264585266 and the amount deposited therein by the common man as on June 2011 is 3728154388 (Rs in thousands). The number of accounts closed by customers during the last one year is 40950379.

The collections under all small savings schemes are credited to National Small Savings Fund (NSSF) and the opening balance as per Budget Estimates 2011-12 is Rs. 7,99,386.51 crore.

The small savings schemes continue to enjoy investor confidence as the risk-return equation of these schemes is favourable with the benefits of liquidity, accessibility, tax incentives and implicit sovereign guarantee. The Government has taken the following steps to make the small savings schemes more attractive and investor friendly:-

The restriction on opening of more than one account during a calendar month under the Senior Citizens Savings Scheme has been removed with effect from 24th May, 2007.

All categories of pensioners have been allowed to open and maintain ‘Pension Account’ under Post Office Savings Account Rules, with effect from 11th July, 2007.

The penalty on pre-mature withdrawal of deposits under the Post Office Monthly Income Account (POMIA) scheme has been rationalised from 3.5% to 2% on withdrawal on or before expiry of three years and 1% on withdrawal after expiry of three years.

The maximum deposit ceilings of Rs. 3.00 lakh and Rs. 6.00 lakh under the Post Office Monthly Income Account (POMIA) scheme has been raised to Rs. 4.5 lakh and Rs. 9.00 lakh in respect of single and joint accounts respectively.

Bonus at the rate of 5 per cent on the deposits made under Post Office Monthly Income Account (POMIA) Scheme on or after 8th December, 2007 upon the maturity of the deposit had been reintroduced.

The benefit of Section 80C of the Income Tax Act, 1961 has been extended to the investments made under 5-Year Post Office Time Deposits Account and Senior Citizens Savings Scheme, with effect from 1.4.2007.

A website of the National Savings Institute under Government of India, Ministry of Finance has also been launched to facilitate interface with the public through wider dissemination of information on small savings and on-line registration and settlement of investors grievances. The website address is nsiindia.gov.in.

This statement was given by Shri Sachin Pilot, the Minister of State Communication and Information Technology in response to a question in Rajya Sabha today.

Main Features of Children Education Allowance Scheme

Central Government has come up with a new scheme called “Education Allowance Scheme”. The Sixth Pay Commission recommendation for enhancing the Children Education Allowances and merger of the same with Reimbursement of Tuition Fees has been accepted by the Central Government as such.

As a result, all Central Government Employees are to be given a reasonable reimbursement of Educational Expenses unlike earlier restriction like reimbursement of only tuition fees of up to Rs. 40 per month.

Main Features of this Education Allowance Scheme:

• Children Education Allowance and Reimbursement of Tuition fees have been merged and the new scheme is known as Children Education Allowance Scheme.
• This scheme can be availed by Central Government employees up to a maximum of Two Children
• This is applicable for School going children only (nursery to 12th Std including 11th and 12th std conducted by Junior colleges)
• The Scheme has no nexus with the performance of the children in the class.
• The reimbursement is applicable for admission fees, laboratory fees, special fee charged for agriculture, music, electronics or any subject, fee charged for practical work, fees for use of any aid or appliance by the child, library fees, games/sports fees, fees for extra curricular activities, purchase of one set of text books and notebooks, two sets of uniforms and one set of school shoes.
• The annual ceiling for reimbursement of children education allowance is fixed at Rs.15,000/-.
• Hostel subsidy will be reimbursed up to maximum limit of Rs.3750/- per month per child. However, both hostel subsidy, and children education allowance can not be availed concurrently.
• The maximum limits in Children Education allowance and Hostel subsidy would be automatically raised by 25% every time the dearness allowance on the revise pay structure goes up by 50%.
• Reimbursement of the children education allowance and Hostel subsidy would be made on production of original receipts self certified by the employee.
• The annual ceiling for reimbursement of education allowance for disabled children of Government employees to Rs.30, 000 per annum per child and the rates of Hostel Subsidy for disabled children of Government employees to Rs.7500- per child per month
• Reimbursement of the children Education Allowance is admissible only for the first child born after failure of sterilization operation
• Government servant can get 50% of the total amount subject to the overall annual ceiling in the first quarter and the remaining amount in third and or fourth quarter. Frontloading of the entire amount in the first and second quarters is not allowed.
• A Government servant can claim full amount subject to the annual ceiling of Rs.15000/- in the last quarter.
• This scheme is effective from 01-09-08 but New rate is applicable with effect from 1' January, 2011

Courtesy : http://tkbsen.blogspot.com

Model Questions from Material Management for IPO Examination

Download / Print

Published By http://rmssa.blogspot.com/

1 What are the Six M’s in a Management ? 1 . Men 2. Materials 3. Machine 4. Methods 5 Money 6 . Market

2. Mention the actions which are included in process of Management . The process of Management includes the Planning , organizing and controlling of six M’s

3. What are the main areas covered by material management Material Cost , Materials Utlisation and material Supply

4 What is the main aim of material Management ? Reducing the cost of production and distribution

5 --------- and ------------- are primary objectives of Material Management Provision of Materials and Minimisation of inventory

6 Every organization its own material management The above said statement Is True

7 -------- and --------- are the two faces of material management Maximising the production or service and reducing the cost

8 Inventory control is related with --------------- and it helps to reduce ----- Material Management --------- Cost of materials

9 Division of material organization in two categories ? Mention the two categories Material organization for top functionaries and operating staff

10 what is the role of top material managers in a organization ? Decision making related with budgeting ,planning and programming

11 What are three level of material management ? 1. Top Level 2. Middle Level 3. Lower level

12 What are the main acts /law related with purchase or sale of goods ? Contract act , sale of goods act, insurance law , Negotiable insurance act , Excise duty ,Sale Tax

13 What is meant by Budget ? Financial estimates of income and expenditure of an organization

14 What are the main objectives of prepare a budget ? Plan the activities in a various department , fix the targets , monitor the performance of activities and take decision to corrective measures to achieve the target

15 What is meant material Budget ? It is a coordinated estimates of the consumption and purchase of materials in an organization

16 ------------ is playing a major role in material budgeting Accounting

17 What is meant by Purchase order ? Order in respect of procuring the material from the suppliers

18 DGS & D means Directorate General of Supplies and Disposals

19 What are the major departments of DGS& D ? Supplies wing , Inspection wing , Progress wing, Disposals wing

20 First in first out method is used for ---------- Costing materials

21 What are the essentials of material Management Provide best service to public , Produce maximum efficiency , manage inventories at predetermined levels

22 What is the is a primary responsibility of the materials management group? The creation of material standards, inspections, and returns process

23 The term value analysis is related with -------------- Quality control

24 What is meant by value analysis ? It is a method to examine the functional utility of a product

25 The action related with the procurement, maintenance, distribution, and replacement of personnel and materiel is called as Logistics

Prepared by S Jayachandran , SA , Divisional Office , Mavelikara, Kerala -690101 – 9961464279 If you want more questions please contact by email or mobile Shankarjayac123@gmail.com or 99614279 Please visit http://nfpemavelikaradivision.blogspot.com

Published By http://rmssa.blogspot.com/

Revised Instruction to open BPL Accounts in Sanchay Post

Henceforth, BPL accounts should be opened in the ONLINE MODULE only and the account number allotted will be from the regular SB block. While opening BPL accounts, counter officials should enter the following details under the Introducer particulars:

a) Select ‘Others’ in the dropdown option for Scheme.
b) Enter ‘BPL’ in the introducer name, address, city and pincode.

This is mandatory for all BPL accounts, failing which the account cannot be classified as a BPL account. The counter officials should be suitably instructed without fail. The same procedure is to be adopted for opening of BPL accounts in the SOSB Online module.

For BPL accounts already opened in NREGS Data Entry Module:
a. Open Form No. 0459 in Initialisation Group
b. Add a new block
c. Enter the starting number and the last number of the accounts opened as BPL accounts.
c. In the 'Latest Number' field, enter the last BPL account number opened.
d. Click on 'Save'

The corresponding block should be deleted from the initialisation of NREGS Account Number Blocks.

Source : http://www.tamilnadupost.nic.in/sdc/sblan.htm

Installation of Sanchay Post in Windows-7

Fresh installation of Sanchay Post in systems running Windows 7 and Sql Server 2008 R2 Express


Download SQL Express Setup from the following link: Click Here


While installing SQL Express Edition, select default instance and security as 'Mixed Mode Authentication'.



1) Install Sanchay Post Version 6.5 (from Sanchay Post new sites CD) in the server.
2) Create the databases using 'Sanchay Post >> Database Operations' option.
3) Run 'Sanchay Post >> Database Operations >> Patch for SPUser'
4) Run 'Sanchay Post >> Database Operations >> BPRO Updates'
5) Run 'Sanchay Post >> Database Operations >> Patch for negative list'
6) Login as 'SUPERUSER' in online module for the first time using default login (BPRO/BPROP)
7) Create new users and enter office details in 'PO Name and address' & 'Set default PO Name' forms.
8) Upgrade to Version 6.5R2 as per the instructions given in the website.
9) Check for missing tables / upgradation status using DBAnalyzer with latest update.



Source : http://www.tamilnadupost.nic.in/sdc/sblan.htm

BSNL Intros FREE Local Call Offer for Raksha Bandhan & Independence Day

In a bid to to Celebrate Raksha Bandhan and commemorate the 64th Independence Day, Pan India 3G mobile service operator Bharat Sanchar Nigam Ltd (BSNL) comes up with exciting offers of Unlimited Free Local Callings (BSNL to BSNL) for its GSM and CDMA Mobile service subscribers across all the telecom circles

To avail the “Raksha Bandhan and Independence Day Special Unlimited Free Local Calling Offer” customers need to recharge with STV worth Rs. 36 which will be available From 00.01hrs of 13-08-11 to 24.00 hrs of 15-08-11.

On 13th August and 15th August, India will celebrate its Raksha Bandhan and 64th Independence Day respectively and to bring cheers to every 2G and 3G Prepaid and CDMA users BSNL has brought out new offers.

Note : BSNL GSM (2G and 3G) subscribers in Tamilnadu and Chennai can avail the by sending SMS to 53733 as “VOICE36” between 13-08-11 to 15-08-11 only. Rs. 32.64 will be deducted from the account of the customer for availing this offer. While in other circles visit BSNL CSC or call 1503

Courtesy : http://telecomtalk.info/

Happy Raksha Bandhan to all .....

To all my dearest, sweetest and most loving Sisters..............

On this auspicious occasion of Raksha Bandhan I just want to tell you all that, without your love, care, support and encouragement I would be nothing. Love you all for making my life so beautiful.........

I love you all till my last breath. - yours loving brother

Stage is set to Popularise Mobile Banking

We are all used to Internet banking system now. But Mobile banking offered by many banks now is claimed to be the fastest system as of now for personal banking transactions.

This service is known as IMPS (Inter bank Mobile Payment Service).

IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features.

Anybody who has a bank account in the banks that provide this service and a mobile phone preferably a smart phone which can download apps provided by the bank can operate this IMPS.

The National Payments Corporation of India (NPCI), is promoted by 10 banks ( State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC). The Board constitutes of Shri N. R. Narayana Murthy, Chairman, Infosys Technologies Ltd as the Chairman, Nominee from Reserve Bank of India, and Nominees from ten core promoter banks

The following bank offers IMPS presently.

1	Axis Bank
2	Bank of India
3	HDFC Bank
4	ICICI Bank
5	State Bank of India
6	Union Bank of India
7	Lakshmi Vilas Bank
8	Kotak Mahindra Bank
9	Federal Bank
10	Indian Overseas Bank
11	IDBI Bank
12	Development Credit Bank
13	Canara Bank
14	YES Bank
15	Indian Bank
16	Dombivli Nagari Sahakari Bank
17	Corporation Bank
18	Oriental Bank of Commerce
19	Syndicate Bank
20	Karur Vysya Bank
21	Punjab National Bank
22	Citibank
23	South Indian Bank
24	UCO Bank
25	Vijaya Bank
26	Andhra Bank
27	IndusInd Bank

How to Use IMPS? Registration for Remitter: · Register yourself for mobile banking service with bank · Get Mobile Money Identifier (MMID) and MPIN from the bank · Download Software (Application) for mobile banking (ensure the compatibility of mobile with the application) or use the SMS facility in your mobile if your bank provides IMPS on SMS Registration for Beneficiary: · Link your mobile number to the account in the respective bank. No need to register formobile banking service. · Get Mobile Money Identifier (MMID) from the bank For Remitter (To send money): · Login to the application and select the IMPS menu from the IMPS or use the SMS facility in your mobile if your bank provides IMPS on SMS · Get Beneficiary Mobile number and MMID · Enter Beneficiary Mobile number, beneficiary MMID, Amount and your MPIN to send · Await confirmation SMS for the debit in your account and credit in beneficiary account · Note the transaction reference number for any future query For Beneficiary (To receive money): · Share your Mobile number and MMID with the remitter · Ask the remitter to send money using your Mobile number and MMID · Check the confirmation SMS for credit to your account from the remitter · Note the transaction reference number for any future query

So far one could transfer the money to other's account in other bank through internet banking or mobile banking but the transaction was not real time. Such transactions were being reconciled through NEFT transactions and such transactions are updated in batches from 9 AM to 7 AM. Thus these transactions are not real time.

But the latest IMPS platform provides for real time money transfer using mobile phone and this is the ultimate beauty of the system. That apart, the system is as secure as the internet banking is. It being a real time service, we would be able to make our payments in any transaction in cash less mode using mobile phone.

How the system works?

Both the remitter and beneficiary need to register their mobile phones with their bank account and should take mobile payment ID known as MMID ( Mobile Money Identifier ) from the bank . MMID is a seven digit number, unique to bank account and linked mobile number and will be used in mobile payment transaction .

For making a payment the process flows like this:-

Step 1: Remitter sends instruction from his/her mobile through his/her bank provided application or SMS.

Step 2: Remitting bank validates the details of the remitter and debits his/ her account. This transaction is sent by the remitting bank to NPCI.

Step 3: Transaction is passed by NPCI to the beneficiary bank. Beneficiary Bank validates the details of the beneficiary customer, credits the account, sends confirmation NPCI about transaction status and sends a sms to the beneficiary customer informing him of the credit.

Step 4: NPCI sends the transaction status to remitting bank which in turn informs the status of the transaction to the Remitter.

Step 5: Remitting bank send a sms confirmation of the transaction to the remitting customer.

To conclude, there are more than 600 Million Mobile users in India and statistics reflects there are 15 to 20 Million new mobile users added every month. In this mammoth background, IMPS has the potential to make a revolution in the banking system.

We were going to bank previously to transact. Now we transact using internet banking, ATM etc. Mobile phones may overtake these channels for the obvious reasons that it is fast, handy and easy to use.

But this may be a reality provided transaction through mobile phones are secured. Since we are in the initial phase as far as IMPS is concerned some people are still apprehensive on the safety angle. But these apprehensions are not backed by facts. People who use IMPS say it is safe.