Tuesday, November 18, 2014

KVPs -  relaunched 
       Union Finance Minister Arun Jaitley and Communication Minister Ravi Shankar Prasad relaunched the Kisan Vikas Patra (KVP) investment scheme on Tuesday to tap household savings for funding infrastructure development in the country and to lure them away from ponzi schemes.  The savings instrument will be available in the denomination of Rs. 1000, Rs. 5,000, Rs. 10,000 and Rs. 50,000. There will be no upper ceiling on investments an investor can make in them. However, no tax benefits would be available on   these investments.  Banks will accept these certificates as pledged security for loans.

To begin with, the certificates will be available only at post offices. Over time, however, designated branches of nationalised banks will also sell them.  The certificates will carry a lock-in period of 2 years and 6 months after which they will become encashable on pre-determined maturity value. Investments made in the certificate will double in 8 years and 4 months. Government will deploy the collections under the scheme to finance development plans of the Centre and State Governments.

2 and half years but less than 3 years
3  years but less than 3 and half years
3 and half years but less than 4 years
4  years but less than 4 and half years
4 and half years but less than 5 years
5  years but less than 5 and half years
5 and half years but less than 6 years
6  years but less than 6 and half years
6 and half years but less than 7 years
7  years but less than 7 and half years
7 and half years but less than 8 years
8  years but before maturity of the Certificate
On maturity of Certificate 
8 Years 4 month  = 100 months

The Union Finance Minister Shri Arun Jaitley will re-launch the Kisan Vikas Patra (KVP) here tomorrow in the presence of Shri Ravi Shankar Prasad, Union Minister of Communication and IT and Shri Jayant Sinha, Minister of State for Finance among others. Increasing savings rate in the economy was one of the priorities of the new Government on assuming charge. In view of the popular demand and to revitalize Small Savings, the Finance Minister in para 27 of his Budget Speech announced that "Kisan Vikas Patra (KVP) a very popular instrument among small savers will be reintroduced The instrument will encourage people, who may have banked and unbanked savings to invest". Accordingly, it is decided to reintroduce Kisan Vikas Patras (KVPs). KYC norms regarding all National Savings Schemes (NSS) are now applicable in post offices and banks w.e.f. January,2012.
The re-launched Kisan Vikas Patra (KVP) will be available to the investors in the denomination of Rs. 1000, 5000, 10,000 and 50,000, with no upper ceiling on investment. The certificates can be issued in single or joint names and can be transferred from one person to any other person / persons, multiple times. The facility of transfer from one post office to another anywhere in India and of nomination will be available. The certificate can also be pledged as security to avail loans from the banks and in other case where security is required to be deposited. Initially the certificates will be sold through post offices, but the same will soon be made available to the investing public through designated branches of nationalised banks. 
Kisan Vikas Patras have unique liquidity feature, where an investor can, if he so desires, encash his certificates after the lock-in period of 2 years and 6 months and thereafter in any block of six months on pre-determined maturity value. The investment made in the certificate will double in 100 months. 

Monday, November 10, 2014

 Down load admit cards for Departmental Exams 2014 for IPO, LGP & LGS
Date of Examination : 22.11.2014 (Saturday) & 23.11.2014 (Sunday) - for the Post of IPO
Date of Examination : 23.11.2014 (Sunday) - for the Post of LGP or LGS


Sunday, November 9, 2014

(i) LDCE for Promotion to   Postman / Mail guard from GDS staff :  C.O , Hyderabad issued notification.

(ii) LDCE for promotion to the post of  MTS from GDS staff :  C.O , Hyderabad issued notification. 

Aadhaar Enabled Biometric Attendance System for Railway employees:

Aadhaar Enabled Biometric Attendance System for Railway employees – Hon’ble MR has directed that all personnel of the Ministry of Railways, Rail Bhavan (including those located at Pragati Maidan) shall enroll on the Aadhaar Enabled Biometric Attendance System.

Tuesday, November 4, 2014

ATM use over five times will attract fee

Using ATMs (automated teller machines) to withdraw money or for other purposes such as balance enquiry beyond five times in a month will attract a levy of Rs.20 a transaction from Saturday.  According to the Reserve Bank of India’s new guidelines that come into force from Saturday, bank customers in six metros —Delhi, Mumbai, Chennai, Kolkata, Hyderabad and Bangalore — are allowed to withdraw money and/or carry out non-financial transactions like mini-statements at ATMs of banks, where they hold saving/current accounts, free of charge only five times a month.  Every transaction beyond this threshold will be charged Rs.20 per use.   Besides, the number of free transactions at ATMs of non-home banks has been cut to three times a month from five times.  The RBI, however, clarified that nothing precludes a bank from offering more than three free transactions at other bank ATMs to its account holders if it so desires.  The cap in the number of free ATM transactions will not apply on small/no-frills or basic savings bank deposit account holders who will continue to enjoy five free transactions.  At places other than the six metro centres, the facility of five free transactions for savings bank account customers will remain unchanged upon using other bank ATMs.//the hindu//

Inclusion of Aadhaar (Unique Identification) number in Service Book of Government servants.