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Saturday 12 November 2016

Last date for using OHD notes extended till 14.11.2016 - Finmin Orders

Last date for using OHD notes extended till 14.11.2016 - Finmin Orders

Press Information Bureau
Government of India
Ministry of Finance
11-November-2016 19:14 IST

Government extends existing exemptions with regard to cancellation of the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations until the expiry of 14th November, 2016, with certain modifications / additions to the existing exemptions; Governments reassures that there is enough cash with RBI and Supply of cash to Bank branches and ATMs are being stepped up gradually.

While cancelling the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations w.e.f. the expiry of the 8th November, 2016, exemptions were allowed for certain transactions for the first 72 hours with a view to minimizing inconvenience to the public. Subsequently, based on feedback received from various quarters, certain more transactions were included for exemption.
The Government has been closely monitoring the implementation of the decision. Considering various representations received from different quarters in the matter, it has now been decided that the existing exemptions may be extended until the expiry of 14th November, 2016, with the following modifications / additions to the existing exemptions:
(i) Payment for court fees will be included in the exemptions.
(ii) The ID proof of customers will be required for transactions in consumer cooperative stores.
(iii) Payments towards utility bills will be restricted to only individuals / households for arrears and / or current bills. No advance payments will be allowed.
(iv) Payments in toll-plazas of the State and National Highways will be deleted from exemptions, considering that the Ministry of Road Transport and Highways is separately issuing instructions in this regard.
There is enough cash with RBI. Supply of cash to Bank branches and ATMs are being stepped up gradually.
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Spike in bank deposits in September due to 7th Pay Commission arrears: FM

Spike in bank deposits in September due to 7th Pay Commission arrears: FM

New Delhi: Union Finance Minister Arun Jaitley on Saturday said there was a spike in bank deposits only in September during the last one year, largely due to the 7th Pay Commission arrears being released in August.
The FM was addressing a press conference here on the current demonetization move.

The 4.8 million central government employees and 5.2 million pensioners got theirs arrears of basic pay and pension arising from implementation of the 7th Pay Commission recommendations in one go in August salaries and pension respectively. The hike in basic pay and pension has been made effective from January 1, 2016.

Jaitley said it is a massive operation to replace 86 per cent of currency under circulation. The SBI alone had done Rs 2.28 crore transactions in the past two days; the total banking transactions were around five times of that, he added.

The minister said the SBI alone had got Rs 47,868 crore deposits in the past two days; total deposits in all the banks must be around Rs 2 lakh crore to Rs 2.25 lakh crore, he added.

The RBI bank currency chests numbering 4,000 had enough currency stocks, Jaitley assured.

The Finance Minister appealed to the people to stagger depositing the defunct currency and not to crowd the banks.

He said it would take two to three weeks to re-calibrate two lakh ATMs to vend out new Rs 2,000 and Rs 500 notes.

He said stock details had been sought from jewellers on reports of dealings in defunct currency, adding that the government would not allow any illegal transaction in bullion.

He said the supposed chip in the Rs 2,000 note and digital lockers were mere rumours.

Inputs with PTI
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OROP: Steps being taken to rectify anomalies, says Minister

OROP: Steps being taken to rectify anomalies, says Minister

Kochi: Seeking to reach out to retired soldiers, Union government today assured the ex-servicemen that it was taking all steps for “resolving the anomalies” in One Rank One Pension (OROP) and seventh pay commission.

Minister of State for Defence, Subhash Bhamre, also said Prime Minister Narendra Modi and Defence Minister Manohar Parrikar, who are “very sensitive” to the issues of ex-servicemen, are “personally looking into the effective implementation” of OROP scheme.

“The issue of OROP is the area of concern for the ex-servicemen. Number of representations were being received from ex-servicemen about OROP,” he said, inaugurating the Kerala State conference of the ‘Akhil Bharathiya Poorva Sainik Seva Parishad’ here.

He said approximately one lakh defence pensioners/family pensioners were yet to get the benefits of OROP because of missing information such as non-update of records or unavailability of date of birth of family pensioners.

“Government is taking expeditious steps to get the payment released to left out pensioners on priority basis,” he said.

The Minister also dismissed media reports about down-gradation of military ranks vis-a-vis civilian cadre.
“Was there any down gradation? The answer is No,” he said.

Bhamre said a letter was issued by the Defence Ministry on October 18 regarding the equivalence of officers of a civilian cadre which is known as the Armed Forces Headquarters Civil Service (AFHQ CS).

“The letter reiterated the existing equivalence of joint director, director and principal director of AFHQ with Colonel, Brigadier and Major General equivalents respectively based on duties and functional responsibilities.

“This equivalences is not new and it has been clarified on several occasions in 1991, 1992, 2000, 2004 and 2005.Therefore, this alleged down gradation was a complete misinterpretation of facts,” the Minister said.
The service ranks and designations and the channel of reporting continued as earlier, he said alleging that an attempt was being made by some quarters to project a negative image of the government.

“The government is most sensitive and receptive to the needs of the armed forces,” the Minister said.

PTI
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What is the procedure to change the 500, 1000 notes through representative ?

What is the procedure to change the 500, 1000 notes through representative ?

In case you are not possible for you to visit the bank you may send your representative with an express mandate i.e. a written authorisation. The representative should produce authority letter and his / her valid identity proof while tendering the notes.

Proof of identity: Valid Identity proof is any of the following: Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff.

Authority letter for change the 500, 1000 notes through representative


REQUEST LETTER FOR EXCHANGE OF OLD HIGH DENOMINATION BANK NOTES OF Rs.1000 AND Rs.500

Request-slip-for-exchange-of-old-notes


Click to download the form
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Maternity Leave (ML) for Railway Employees


Maternity Leave (ML) for Railway Employees
  • It is a full pay leave not debited to any account.
  • It is granted as under:

    For confinement
    180 days
    Miscarriage/Abortion
    45 days during service
    Female Casual workers
    4 weeks

  • Temporary Railway employees may be granted Maternity Leave if their employment is likely to continue till they come back to service may be granted Maternity Leave on the basis of Medical Certificate.
  • It may be combined with any other type of leave.
  • Any leave (including LND) upto a maximum 2 years may be granted in continuation of ML if applied for without Medical Certificate.
Source: Maternity Leave
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Paternity Leave (PL) for Railway Employees

Paternity Leave (PL) for Railway Employees
  • Granted to male Railway employees (including Apprentices) with less than 2 surviving children.
  • Granted for 15 days.
  • During the period of confinement of wife of a Railway employee. Can be availed in the period between 15 days prior and 6 months after the date delivery of the child.
  • Can availed only in one spell.
  • If not availed it will be lapsed.
  • It is not to be debited against leave account.
  • Maybe combined with any other type of leave as in Maternity Leave.
  • Leave salary equal to pay drawn just before proceeding on leave.
  • Paternity Leave may not normally be refused.
  • May be granted to Casual Labour who has temporary status for 15 days.
  • With effect from 22.07.2009 it can be sanctioned in case of valid adoption of a child below one year for 15 days. It can be availed within 6 months from the date of adoption.
Source: Paternity Leave
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Railway Budget merger with General Budget will have positive effects

Railway Budget merger with General Budget will have positive effects

Railways today maintained that the merger of its budget with General Budget will have no adverse effect on its functioning and there will be positive outcome as the exchequer support to the national transporter will increase henceforth.

Railway Minister Suresh Prabhu will not present a separate Rail Budget for the fiscal 2017-18 in the coming budget session in Parliament as the government has decided to do away with the year-long tradition of having it separately.

“Merger of Rail Budget has positive implications. It is very simple, no adverse implication and only positive implication,” Railway Board Chairman A K Mittal said at the Edotors’ conference here.

He said the Railways will no longer pay dividends to the exchequer which is a gain for the organisation.

Railways receieve gross budgetary support from the Finance Ministry and in return pay dividends on it.

“We have paid about Rs 9500 cr as dividends this year but now we do not have to pay dividends any longer after the merger,” Mital said.

Comparing with other transporter sectors, he said investment in railways was much less than the road sector over the years and as a result rail sector was languishing for the lack of infrastructure development.

“The investment in road sector was twice more than the rail sector. But now we hope a holistic approach will be adopted by the government for the whole transport sector including railways, road, waterways and others,” he said.

Asked about the possibilities of announcement of any tie-up with Japan on rail sector during the Prime Minister Narendra Modi’s ongoing Japan trip, he said “further discussion of Mumbai-Ahmedabad high speed rail project is expected to come up.”

Japan is providing financial and technology support to the Mumbai-Ahmedabad bullet train project.

On the demonitisation crisis, he was asked whether ticket counters are being used to convert black money to white and he said “Railways is in the buisness of carrying passengers and goods and is not for changing the colour of the money.”

After the demonitisation of Rs 1000 and Rs 500 notes, ticket counters all over the country are witnessing heavy rush as people are using these notes to buy tickets and subsequently cancelling them to encash smaller denomination notes.

“Some people might think of that way. But now the refund will go to their account only,” he said.

Railways has decided to give refund money worth Rs 10,000 or above to the customers bank accounts.
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