CG UPDATE(CBI) ******** CENTRAL BUREAU OF INVESTIGATION ANTI-CORRUPTION BRANCH III Floor, Kendriya Sadan,  Sultan Bazar, Koti, Hyderabad-500 095 Phones: (040) 24732762,63,64 & 68 and 24734667 Fax: (040) 24612763, e-mail: hobachyd@cbi.gov.in  PRESS NOTE  REGISTRATION OF RC 24(A)/2016, CBI, ACB, HYDERABAD AGAINST  

OFFICIALS OF POST OFFICE  Based on the credible information that certain grave irregularities have been committed in exchange of old currency notes with new currency notes to the general public at Himayathnagar Sub-Post Office a Joint Surprise Check was conducted by officials of CBI, Hyderabad along with Staff of Postal Vigilance. The Joint Surprise Check revealed that on 12-11-2016 an amount of Rs. 74,73,500/- in Rs. 2000/-new denomination has been shown to have been exchanged against the old currency notes amounting to Rs. 74,73,500/-. However only 987 numbers of Request Slips were only found available for total amount of Rs. 38,45,500/- against Rs. 74,73,500/- and there were no Request Slips for an amount of Rs. 36,28,000/- (Rs. 74,73,500/- minus Rs. 38,45,500/-). It is revealed that Smt. G. Revathi, Sub Postmaster, Himayathnagar Sub-Post Office has done this as per the instructions of Sri. K Sudheer Babu, IPoS, Senior. Superintendent of Post Offices, Hyderabad City Division, Hyderabad. Further Sri G. Ravi Teja, working as Office Assistant at O/o SSPOs, Hyderabad City Division, who is deputed for disbursement of new currency notes to various Post Offices under Hyderabad City Division, confirmed that said Sri Sudheer Babu gave him old currency notes of Rs. 500/- and Rs. 1000/- denomination total amounting to Rs. 36,00,000/- and took new notes of Rs. 2000/- denomination for said amount of Rs. 36,00,000/- at the originating place i.e. GPO, Hyderabad Treasury itself. 

Based on the outcome of said Joint Surprise Check CBI, Hyderabad registered a Regular Case vide RC No. 24(A)/2016-CBI-HYD u/s 120-B r/w 406, 409, 477-A IPC and 13(2) r/w 13 (1) (d) of PC Act against said Sri. K Sudheer Babu, IPoS, Senior. Superintendent of Post Offices, Hyderabad City Division, Hyderabad, G. Revathi, Sub Postmaster, Himayathnagar Sub-Post Office and Sri G. Ravi Teja, working as Office Assistant at O/o SSPOs, Hyderabad City Division and unknown other public servants and private persons on the allegation that accused in criminal conspiracy with other public servants and private persons by abuse of their official position fraudulently exchanged Rs.36 lakhs of old demonetised currency notes of Rs.500 and 1000 denomination with the new currency notes of Rs.2000/- denomination without genuine documents on 12.11.2016 which was meant for disbursement among genuine general public and thereby misappropriated Rs.36 lakhs. During the investigation, searches were conducted at the residence of said Sri Sudheer Babu and during interrogation he revealed that he exchanged the old currency notes worth Rs. 36,00,000/- with new notes of Rs. 2,000/- denomination.  IF PUBLIC HAVE ANY COMPLAINTS ABOUT CORRUPTION IN CENTRAL GOVT. DEPTs & PSUs, BANKS, INSURANCE COMPANIES OF TELANGANA AND RAYALASEEMA REGIONS OF AP THEY MAY CONTACT SUPDT. OF POLICE, CBI, HYDERABAD, IN PERSON OR OVER PHONE NOs. 24732768 (O) 9010299553 (Cell). Sd/- DY. INSPR. GENL. OF POLICE CBI, ACB, HYDERABAD Dated: 28.11.2016.

//cbi press note//

CBI carries out raids at post offices in Hyderabad after irregularities: - 

CBI officials obtained inputs about irregularities in post offices in terms of amount being accepted in old 500, 1000 rupee notes after demonetisation.

Simultaneous raids were conducted on as many as eight post offices in Hyderabad city.

CASH WORTH RS 40 LAKH SEIZED FROM HIMAYATNAGAR POST OFFICE

Reports suggest that during the raids, cash worth Rs 40 lakh was seized from Himayatnagar post office.   The raids are going on at the General Post Office in Abids, Narayanguda, Chikkadpally and Himayatnagar areas.  CBI officials interrogated the post office staff, inspecting their records and cash reserves relating to transactions since November 9.

CBI GOT COMPLAINTS ABOUT POST OFFICE STAFF

Sources say that the CBI has received complaints that some post office staff are allegedly exchanging the demonetised high-currency notes illegally.  The sleuths are also verifying certain savings accounts, where a huge amount of money has been deposited post the demonetisation announcement.

F.No.1/042016-NS

Ministry of Finance

Department of Economic Affairs

(Budget Divisional)

North Block, New Delhi

Dated 22nd November 2016

To

1. The Chief General Manager

Reserve Bank of India

Department of Government & Bank Accounts

Central Office, Byculla Office Accounts

4th floor, Opposite Mumbai Central Railway Station

Byculla, Mumbai - 400008

2. The Deputy Director General (FS)

Department of Posts

Dak Bhawan, Sansad Marg, New Delhi

3. The Joint Director & HOD

National Savings Institute

ICCW Building

4. Deen Dayal Upadhyay Marg

New Delhi-110003

Subject: Deposit of old demonetized notes of 500 and 1000 in Small Savings Scheme

Sir,

I am directed to state that Ministry of Finance has received references from Banks whether currency notes of Rs.500 and Rs.1000, discontinued w.e.f.9.11.2016, can be deposited in accounts opened under small savings schemes. The matter was examined in this Ministry and it has been decided that subscribers of Small Savings Scheme may not be allowed to deposit old currency note of Rs.500 and Rs.1000, in Small Savings Schemes.

2. This may be compiled strictly.

3. This has the approval of Secretary (Economic Affaris).

Yours faithfully,

sd/-

(Padam Singh)

Regional Director(Sr.)

Postal staff providing new currency notes to patients at a hospital in Delhi. 

New Delhi: Postal department officials have started visiting hospitals across the city to help patients and their attendants to exchange old high-value currency notes for new ones in the wake of miseries mounting for patients and their attendants following demonetisation. So far, nearly Rs 25 lakh have been exchanged by them at the hospitals. The postal teams are visiting hospital wards offering lower denomination currency notes to patients and their family. Many of them are not able to procure cash from the overcrowded banks and ATMs in the city,” chief postmaster general (Delhi circle), L.N. Sharma said. He said several teams have been formed to visit the hospitals.//pti//

Postmasters  are Requested to send your office/B.O   photos  in respect of Cash exchange etc., mail to telugupostmasters@gmail.com  for post in this blog.  

crowd thrown stones at GOLCONDA (HYDERABAD) POST OFFICE.

Some clarification orders received from Department. 

apply ink to  Right index finger

staff in Q- at Srinagar colony post office (ameerpet- hyderabad)

crowd queuing up at Srinagar colony Post office (Ameerpet- hyderabad) 

ONE TIME PROMOTION ISSUES OF   POST MASTER GRADE-II / III  : DPC STATUS :- Now all Postal staff are busy with cash exchange and cash deposit works.  C.O busy with monitoring the operation .  During this situation Postmaster cadre one time relaxation / regular promotions / cadre restructure issues  are expected to delay and hope to start in coming year.  

Confusion among  postal staff for acceptance  of deposits   with banned notes  Rs 500 / 1000  at counters:-

The SB order 12/2016 issued on 08.11.2016. while go through this order it was understood that the customers  can only deposit Rs.500 / Rs.1000/- banned notes in their  SB accounts only.

The following  points are not  clarified in this order  :-

1.     Whether the old Rs500/1000  allowed to  deposit in PO SB other schemes PPF, SSA, RD,TD,MIS, NSC etc.

2.     What about cash payments of RD/TD /KVP/NSC etc., maturity amounts for Rupees below Rs.20000/-

3.     Allowed MPKBY  deposits upto 10.11.2016 and later some mails received it was extended upto 30.12.2016. No clear cut order on this issue.

4.     What about SAS deposits acceptance with  old Rs500 /1000.

5.  Some divisions in Telangana circle issued orders  do not accept old series of Rs.500/1000 except in SB deposits.

6.     Some divisions in A.P circle/ Telangana circle  are accepting old series of banned notes for all SB transactions.

Let us hope the department will issue  some  addendum / corrigendum on this SB order.

Postal Life Insurance Vs LIC-Which is best?

Do you know your Post Office also offers Life Insurance? Even if you know then there is a huge confusion among buyers like whether to buy with the Post Office or with LIC, because the Government of India backs both. Hence, let us see which is best for whom.

What is PLI (Postal Life Insurance)?

PLI (Postal Life Insurance) is exactly like any Life Insurance company, for example LIC or ICICI Pru Life Insurance. The only difference is, it is run and managed by Post Office. PLI currently offers only traditional plans. Therefore, no term insurance or ULIPs.

How many types of policies PLI (Postal Life Insurance) offers?

Currently PLI offers below mentioned traditional endowment products.

1) Whole Life Assurance Policy (Suraksha).

This is exactly like LIC’s Whole Life Policy. The nominee will receive the accrued bonus and sum assured after the death of the policyholder. Minimum age at entry is 19 Yrs and maximum is 55 Yrs. Minimum Sum assured is Rs.20, 000 and maximum Sum Assured is Rs.10, 00,000.

2) Endowment Assurance (Santosh).

This is a typical endowment plan where a policyholder gets sum assured along with bonus if he survive until the maturity period. In case of his death during the policy period, then his nominee will receive the sum assured along with accrued bonus. Eligibility criteria are same as that of Whole Life Assurance Policy (Suraksha).

3) Convertible Whole Life Assurance (Suvidha).

This plan is exactly like Endowment Assurance. The only difference is, if you don’t convert this policy to Endowment Assurance then it is treated as Whole Life Assurance plan.

4) Anticipated Endowment Assurance (Santosh).

This is typical money back endowment plan, where the maximum sum assured is restricted to Rs.5, 00,000. In this category, PLI offers two types of plans. One is 15 yrs and other is a 20 yr term.

5) Joint Life Assurance (Yugal Suraksha).

You can buy this policy with your spouse as co-insured. To avail this facility one the spouse must be eligible to buy PLI. Life Insurance coverage is for both husband and wife to the sum assured you bought. The maximum sum assured is Rs.1, 00,000.

6) Scheme for physically handicapped persons.

This plan is uniquely designed for handicapped persons. Based on the condition of handicap, premium raised or increased. Rest of plan features are exactly like the others.

7) Children Policy

PLI started to offer child policy from 2006. Few features are listed below.

• It mainly covers the life insurance of children.
• Maximum two children can be insured in a family.
• Children between 5 Yrs to 20 Yrs are eligible for this plan.
• Maximum Sum Assured is Rs.1,00,000.
•  Premium waiver benefit in case of main policy holder dies.
• In case of death of children, then sum assured along with bonus be payable to main policy holder.
• Responsibility of premium payment rest with main policy holder.

So what is the difference between PLI and LIC?

• Eligibility-To buy PLI you must be employee of the Central and State Governments, Central and State Public Sector Undertakings, Universities, Government aided Educational institutions, Nationalized Banks, Local bodies, etc. PLI also extends the facility of insurance to the  officers and staff of the Defense services and Para-Military forces. Where as LIC offers it’s plans to all citizens of India. So when it comes to flexibility to buy then LIC holds edge than PLI.
• Plans offered-There is no such difference. Because LIC and PLI mostly dependent on traditional endowment type of Life Insurance Plans. But along with that LIC offers term insurance (recently LIC launched online term insurance), which is not at all touched by PLI.
• Premium Rate-When compare to LIC or any private insurers, PLI offers cheap premium. So this is a most advantage of buying endowment plans with PLI than with LIC.
• Bonus Rate-Bonus offered by PLI is in the range of 7% or more. Whereas currentlyLIC offers a bonus rate of around 4% to 5%.
• Where to buy-In case of PLI, you have to visit to the Post Office where these schemes are offered. Whereas in case of LIC, you will easily get agents. These agents can come to your doorstep and offer the service. Along with that recently LIC launched an online buying also (restricted to online term plan and pension plan). Therefore, in case of buying LIC offers more flexibility than PLI.
• Age Limit-PLI offers insurance to the age group of 19-55 yrs. Where as in LIC you can get the insurance coverage up to 75 yrs (not in all policies).
• Maximum Sum Assured-PLI offers you the maximum sum assured of Rs.50 Lakh. Whereas, LIC offers an unlimited maximum sum assured.
• Premium Payment-You need to visit the Post Office to pay the premium dues. However, in case of LIC, you can pay it in branch, collection points or through online.
• Tax benefits-Both PLI and LIC offer same tax benefit for deduction under Sec.80C.

Considering all these features and differentiation between PLI and LIC, I feel PLI is still in olden days. Because it offers less insurance coverage, entry is restricted to only few, service issues, no term insurance and age limit. Whereas only two positive points that attract you towards PLI are lesser premium and higher bonus.

Whether it is prudent to buy endowment plans from PLI?

Even though PLI offers you higher return and lower premium compare to LIC and other private insurers, the returns in the long run may erode drastically if you consider the inflation. Along with that, you will be under insured due to restricted maximum insurance limit. Post Offices still not customer friendly. So you may face service issues and claim settlement issues.(now improved) 

Consequent to formation of  Telangana  Postal Circle the A.P Circle  association for supervisors AIAPS (GL)  has been formed on  06.11.2016 at Vijayawada (A.P).  The list of office bearers approved by CPMG, A.P circle is :-

for full details visit official blog of  : www.aiapstelangana.blogspot.com

AIAPS(GL) CIRCLE CONFERENCE  :  A.P CIRCLE HELD AT VIJAYAWADA ON 06.11.2016

Bifurcation of  Andhra pradesh circle in to A.P and Telangana circles consequently AIAPS (GL) : Telangana Circle has been formed. Now  AIAPS (GL) : A.P circle circle conference held at Vijayawada on 06.11.2016 and elected  new members of  the association.  Sri YSR Srinivasulu,  Circle President  (T.S. circle) Sri D.S.K. Prasad, AGS & C.S (T.S .circle) preside  the meeting.  Sri  Ammiraju, Pm-Gr-III, Sri Ambedkar raju, PM-Gr-I & Sri Anil Kumar, PM Gr-I has been unanimously elected as  Circle President, Circle Secretary & Circle Treasurer.   Postmaster  & Supervisor cadre issues discussed thoroughly  and the session  end with constructive decessions.   Some of the pictures of the conference.

Elected Team of AIAPS (gl) 

Telangana & A.P : AIAPS (gl)  Presidents/Secretaries/Treasurers ( from R To L)

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