An Organisation for the welfare of postal employees

Saturday, October 1, 2011

India Post Ties-up With MoneyGram International To Offer Convenient Money Transfer Solutions

India Post, the largest placement postal network in the world, and MoneyGram International, the fastest flourishing universal allowance transfer company, assimilated hands in an authorized launch rite in India’s funds — New Delhi, announcing the start of their tie-up, graced by the participation of Shri Kapil Sibal, Hon’ble Minister of Human Resource Development, Communications Information Technology, and Shri Sachin Pilot, Ministers of State for Communications Information Technology and Ms Radhika Doraiswamy, Secretary Department of Posts and Shrimati Manjula Prasher, Member (Operations Technology) Postal Services Board.

At the rite hold in New Delhi Thursday, Shri Kapil Sibal strictly inaugurated the start of the long-term grouping by conducting a remittance contract by the MoneyGram service, displaying the ease of the financial transaction.

Starting this week, 100 critical Post Offices in Delhi, Punjab and Tamil Nadu Circles began gift MoneyGram present central allowance transfer services. MoneyGram’s services will be lengthened to other Post Offices and Circles in the nation in a phased manner. The service is approaching to be existing in 5,000 Post Offices in the nation by 2014. India Post and MoneyGram have programmed a joint selling try in a number of states.

After rising the service, Shri Kapil Sibal, Hon’ble Minister of Human Resource Development Communications IT said, “according to the World Bank, remittances to building countries are estimated to have reached $325 billion in 2010. India is the world’s largest central remittance market. Last year, the nation received $53.1 billion in remittances. These remittances supply source of provision for millions of bad households. International central remittances to farming areas encouragement financial inclusion initiatives of the Government of India. India Post, with its network of over 155,000 post offices, plays a main purpose in achieving the design of financial inclusion. Despite successive diversification in add-on to its core functions, the Post Office is able to keep the certitude reposed by the adults of the country. we can say with honour that this has been probable since the honest and overworked work force of India Post. The partnership between India Post and MoneyGram is approaching to enlarge exchange from key remitter countries, inclusive the United States, the United Arab Emirates, the United Kingdom, Canada, Australia and Saudi Arabia.” He wished the partnership a great success in providing hasty and effective service to the adults of the country.

Shri Sachin Pilot, Hon’ble Minister of State for Communications IT, in his residence mentioned “international central remittances are personification an increasingly considerable purpose in the economies of many countries, contributing to mercantile expansion and to the livelihoods of reduction moneyed people. For a few tiny building countries, central remittances are as high as a third of their GDP. For India, remittances contributed to 3.6% share of GDP in 2009. The Indian Diaspora is estimated to be over 30 million. The Government of India recognizes the significance of India Diaspora as it has brought economic, financial and universal benefits to India. India is on the swift follow to mercantile development and is estimated to be the world’s second largest manage to buy by 2020 and already flourishing at 8-9% per annum. Our manage to buy has withstood the universal mercantile meltdown and has in fact shown extensive growth, interjection to the burly fundamentals. This partnership with MoneyGram will supply profitable service to those customers, quite in farming areas, who are not entirely served by banks and other financial institutions. This service needs to be stretched to more number of post offices at the earliest.”

Ms. Radhika Doraiswamy, Secretary, Department of said, “India Post has long been in general allowance transfer service by its normal paper-based Money Order service to many countries. Post Offices are being upgraded in phases beneath “Project Arrow,” that aims at enhancing the Core Operations and Look Feel of Post Offices opposite the country. Present opposite India and embedded in local communities, we comprehend the adults and their needs. The amicable aptitude of India Post has gained movement in the new past by active participation of Post Offices in value of salary to the farming bad beneath the Mahatma Gandhi National Employment Guarantee Scheme via the country. We work tirelessly to expand access not usually to letter services, but to financial services for all, and it is in this context that the society with MoneyGram, a heading universal allowance transfer company, is significant. This tie-up will help India Post to supply profitable service to the customers in a fast, convenient and cost-effective manner.”

Shrimati Manjula Prasher, Member (Operations Technology) Postal Services Board mentioned “all departmental post offices numbering around 25,000, that are already computerized, are approaching to be covered beneath Core Banking Solution (CBS) by 2012-13. Plans are stirring to supply Rural ICT to all 1.3 lakh bend post offices in the country. India Post is endeavour dissimilar actions by leveraging its network to augment revenues. Our Post Offices have more than 10 years’ of experience in providing present general allowance transfer service. This profitable experience will be of great help to make the society with MoneyGram a successful and permanent one.

Speaking at the authorized ceremony, Harsh Lambah, MoneyGram’ Senior Regional Director for South Middle East said, “MoneyGram’s teaming with India Post reaffirms the company’s commitment to portion its hundreds of thousands of customers in the world’s largest remittance take marketplace and the value MoneyGram brings India Post’s business and customers. Bringing India Post, one of the world’s largest postal services to the network is really exciting. We are unapproachable to work with such a prestigious network associate and this attribute fuels the goal to help more people by providing India Post’s millions of customers with affordable, swift and arguable allowance transfer services.”

MoneyGram views it as beneficial to enter into with national postal systems, as these supply consumers with a singly convenient and arguable way to access affordable allowance transfer services. With the add-on of the India Post, MoneyGram right away has agreements with more than 20 universal post office networks, inclusive Canada, Jamaica, Kenya, Italy, Morocco, Moldova, Poland, Ukraine and the United Kingdom.

About MoneyGram International

MoneyGram International, a heading universal allowance transfer company, enables consumers who are not entirely served by normal financial institutions to encounter their financial needs. MoneyGram offers allowance transfer services worldwide and bill remuneration services in the United States and Canada by a universal network of more than 244,000 representative locations–including retailers, general post offices and financial institutions–in 192 countries and territories around the world. For more information on allowance transfer or bill remuneration at an representative place or online, greatfully revisit www.MoneyGram.com or link up with us on Facebook.

About India Post

The Indian Post Office, in the present form, has finished 156 years of its existence. In fact, it will be completing 157 years by October 1st 2011. During this long journey, it has undergone successive mutation according to the needs of the citizens. A network of 1.55 lakh Post Offices in the country, the largest in the world, of that more than 1.39 lakh are in the farming area, is demonstrative of its commitment of providing simple postal services via the nation at an affordable price. It moreover provides assorted financial services similar to tiny extra savings instruments beneath Post Office Savings Bank and Money Remittance, both made at home and international.

SOURCE: MoneyGram International

Friday, September 30, 2011

NFPE leader A Majeed dies in accident

NFPE state assistant secretary A Majeed died in a road accident at Kozhikode on Friday. The accident occurred at the mini bypass near Mankavu Bridge when a private bus hit the bike, which Majeed was riding. Though he was rushed to a hospital, his life could not be saved. He was working as postal assistant at PSD, Kozhikode. The Circle union dips its flag in salute and conveys heartful condolences to the bereaved family.

LGO candidates need not wait for induction training

No: 1-19/ 2010-Trg

Government of India

Ministry of Communications & IT

Department of Posts, (Training Division)

Dak Bhavan, Sansad Marg,

New Delhi – 110001.

Dated: 28.09.2011.

To,

All Heads of Circle

Sub: Induction Training to PA LGO Candidates.

It has been ordered vide Postal Directorate vide letter No. 60/11/2011-SPB-I dated 16.-9.2011 that the PA/SA LGO candidates selected through departmental examination will be imparted a brief in-house training of two week, pending regular Institutional Induction Training at Postal Training Centres. It has been further stated that the two week's training shall be finalized by the Heads of the Circles in consultation with the Training Division.

2. In respect of direct recruit PAs/SAs, para (5) of Postal Directorate letter No. 60-9/2010-SPB-I dated 10.11.2010 had stated that" pending their training by chalking out the course as far as posting orders and commence their in-house training by chalking out the course as far as possible based on the PTC syllabus depending on the resources available with them". Accordingly, direct recruit PAs/SAs were imparted in-house training at Circle level before they were deputed to PTCs. It, is therefore, requested that the PA/SA LGO candidates selected through departmental examination may also be imparted in-house training of two weeks similar to the one done in respect of direct recruit PAs/SAs.

Sd/-

Gautham Bhattacharya

Dy Director General (Training)

Removal of ceiling of maximum balance to be retained in a post office savings account

No.113-23/2005-SB

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg

New Delhi-110001

Dated: 27.09.2011

To

All Heads of Circles/Regions

Addl. Director General, APS, New Delhi.

Sub: Removal of ceiling of maximum balance to be retained in a post office savings account- amendment to Rule-4 of the Post Office Savings Account Rules 1981 reg: -(SB ORDER NO. 20/2011)



Sir / Madam,

The undersigned is directed to say that issue of removal of ceiling of Rs.1 lac in single savings account and Rs.2 Lac in Joint Savings Account fixed in the year 2000 was under consideration in the Min. of Finance (DEA). This issue was linked to the benefit of exemption in Income Tax on the interest earned in Post Office Savings Account under Section10(15) (i) of Income Tax Act, 1961 by the CBDT and Min. of Finance (DEA). After sustained efforts on the part of this Directorate, Min. of Finance (DEA) has now amended Rule-4 of the Post Office Savings Account Rules 1981 vide G.S.R.681(E) F.No.2/5/2006-NS-II dated 15.9.2011 (copy enclosed). Some major benefits of this amendment are given below:


(i) From 1.10.2011, there will be no limit for retaining balance in single as well as joint savings account.

(ii) A depositor or depositor(s) can deposit any amount into single as well as joint savings account.

(iii) Maturity value of any savings instrument can be credited into savings account of the depositor standing in the same post office irrespective of the balance in the account.


(i) Any cheque either issued by Postmaster or any other authority irrespective of any amount can be credited into post office savings account irrespective of the balance in the account.

(ii) From the Financial year 2011-12, Interest income of Rs.3500/- in the case of single account and Rs.7000/- in case of Joint account will be exempted from Income Tax. (Section 10(15) (i) of Income Tax Act, 1961 amended vide Notification No. 32/2010 {F.No. 173/13/2011-IT A.I}/S.O.1296(E) dated 03.06.2011).

(iii) It is the duty of the depositor(s) to show the interest income earned from Post Office Savings Account(s) beyond the limit prescribed above in the Income Tax return and pay due Income Tax.

2. It is requested that all field units may be directed to give wide publicity to these changes in the shape of Public Notice and printing of leaflets.


3. This issues with the approval of DDG (FS).

Yours faithfully


Sd/-

(Kawal Jit Singh)

Assistant Director (SB)

Thursday, September 29, 2011

Implementation of AML/CFT norms in Small Savings Schemes- an external inspection of selected post offices by Min. of Finance - regarding.

SB ORDER NO. 19/2011

No. F.No.25-04/2009-FS (Vol-I)

(Part-AML/CFT inspection)

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhawan, Sansad Marg,

New Delhi-110001, Dated: 14.09.2011

To

All Heads of Circles/Regions

Addl. Director General, APS, New Delhi.

Subject:- Implementation of AML/CFT norms in Small Savings Schemes- an external inspection of selected post offices by Min. of Finance - regarding.

Sir / Madam,

The undersigned is directed to refer to this office SB Order No.4/2011 dated 01.04.2011 vide which inspection questionnaire on AML/CFT norms in Small savings Schemes and manner of reporting was circulated.

2. Ministry of Finance, Department of Economic Affairs, Budget Division being regulator for implementation of AML/CFT norms in Small savings Schemes has decided that National Savings Institute (NSI) will act as Inspection Wing of Budget Division for the purpose of AML/CFT norms in Small savings Schemes and their Regional Directors in the respective States will carry out external inspection of selected post offices.

3. It is requested that necessary action may be taken immediately to inform the field units to be prepared for the external inspections and raise the level of Implementation of AML/CFT norms including reporting of Cash and Suspected Transactions and record keeping to 100%. All inspecting authorities may also see the level of implementation of these norms during their visit to all post offices including EDBOs.

4. This issues with the approval of Member (Tech.)

Yours faithfully,

Sd/-

(Kawal Jit Singh)

Assistant Director (SB)

Monday, September 26, 2011

October 5th to be observed as 'Ramamurthi Day'

The various Divisional/ Branch committees should observe October 5th as "Ramamurthi Day", commemorating the 16th death anniversary of Late Shri. K Ramamurthi, the founding leader of FNPO. Meetings, seminars etc. should be conducted by all the Divisional/ Branch committees.