Finance Ministry has reviewed the position regarding availability and distribution of all denomination of bank notes. Some of the highlights of the review and the decisions taken.

Finance Ministry has reviewed the position regarding availability and distribution of all denomination of bank notes. Some of the highlights of the review and the decisions taken.

Government of India
Ministry of Finance
Department of Economic Affairs

 November 13, 2016

Press Release

Today  (13.11.2016) Finance Ministry has  reviewed  the  position  regarding  availability and
distribution of all denomination of bank notes. Some of the highlights of the review and the decisions taken are as follows:

1. In the first four days ( from November 10th to 13th , upto 5 pm ) about Rs 3.0 lacs crores of old Rs.500/- and Rs.1000/- bank notes have been deposited in the banking system and about Rs.50,000 crores has been dispensed to customers by either withdrawal from their accounts or withdrawal from ATM’s or by exchange at the counter. Within these four days, the banking system has handled about 18 crore transactions.

2. Coordination is being continuously done by Ministry of Finance with RBI, Banks and Post Offices to make all denomination notes available at all locations.

3. Instructions have been given to the Banks and Post Offices to ensure proper distribution of all denomination notes. Banks have also been especially advised to ensure the availability and distribution of small denomination notes.

4. Chief Secretaries of the States have been requested to identify the rural pockets, if any, where availability of cash has been a problem and provide all support to the Banks and Post Offices in order to ensure the last mile distribution of small denomination of notes is done through mobile banking vans and Banking Correspondents (BCs).

5. It has been reported that certain business houses viz. Hospitals , Caterers , Tent houses etc. are not accepting Cheques/Demand Drafts and online payment transfer from customers. It is advised that in such cases customer can make a complaint to the concerned District Magistrates/District Administration for action against such establishments.

6. Government of Assam has arranged a Mobile Banking Vans with support of Banks and State Government Staff at certain Hospitals for carrying out emergency banking transactions. All Banks have now been advised to arrange mobile banking vans to the extent possible at major hospitals to carry out emergency banking transaction for patients.

7. Banks have been advised to make arrangements for separate queues for Senior citizens and Divyang persons. Separate queues will also be arranged for exchange of cash to cash and transactions against Bank accounts.

8. Government of Arunachal Pradesh has made special arrangements like cash deposits /withdrawal and opening of new bank accounts in the remotely located areas with the help of Banks and State Government staff. State Governments have been requested to facilitate opening of new Bank accounts as a part of financial inclusion programme.

9. The issuance of the new series of Rs.500/- notes has already commenced.

10. Banks have been advised to increase the Business Correspondents limit of dispensing cash to Rs.2500/- for withdrawal from bank accounts.

11. Banks have been advised to increase the exchange limit over the counter from the existing Rs.4000/- to Rs.4500/-.

12. Banks have been advised to increase the Cash Withdrawal limit at ATMs from the existing Rs.2000/- to Rs.2500/- per day in the recalibrated ATMs, other ATMs will continue to dispense Rs.50/- and Rs.100/- notes until they are recalibrated.

13. The weekly limit of Rs.20,000/- for withdrawal from Bank accounts has been increased to Rs.24,000/-. The limit of Rs.10,000/- per day has been removed.

14. Banks have been advised to increase the issuance and use of mobile wallets and debit/credit cards as also to provide them to those customers and establishments not having access to these non-cash means of payment

15. The last date for submission of the annual life certificate for the Government Pensioners which is to be submitted in November every year has been extended up to January 15, 2017.


Press Release Ministry of Finance

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Drastic Reduction of Dearness Allowance (DA) to Central Government Employees, Opted in 7th Pay Scale

Drastic Reduction of Dearness Allowance (DA) to Central Government Employees, Opted in 7th Pay Scale

Dear friends,

As you are aware that 7th Pay Commission has computed 125% DA out of 125.75% due as on 1.1.2016 and 0.75% become due has been ignored. But according to earlier practice/agreement, this 0.75% has to be carry forwarded for calculating DA as on 1.7.2016. If the fraction carries forwarded the actual DA due as on 1.7.2016 shall work out to 3.28%. Thus 3% DA has to be announced in place of present 2% (Order placed in Annexure I) . In this respect secretary staff has written a letter to the government on 06/09/2016. But the government ignored the staff side demand on this matter.

Now the Government of India has issued orders for 7% dearness allowance w.e.f. 1.7.2016 to the employees of Central Government who had exercised option to continue the 6th CPC Pay scale and also the employees of Central Autonomous body to whom 7th pay commission has not implemented as yet (copy of the order enclosed in Annexure II). 

In this respect a chart comparing the amount of DA getting to the employees in new and old rates is given in annexure III.

From the above, the demand of the staff side for 3% DA w.e.f. 1.7.2016 is justified. Thus staff side should take up the matter for immediate rectification and also the entirety of central Government should join the 25th December parliament march to achieve the 20 point charter of demands which include grant of 3% DA, increase of minimum pay & fitment formula, immediate implementation of allowances etc.

With greeting

TKR Pillai

Ex General Secretary

Source: http://aiamshq.blogspot.in/

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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

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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