Click HERE to download the order
Showing posts with label sb. Show all posts
Showing posts with label sb. Show all posts
Tuesday, May 8, 2012
Saturday, April 28, 2012
Index to SB ORDERS FROM 2006 to 2011
Index to SB ORDERS FROM 2006 to 2011
2006
01/2006-Subject:-Mode of payments of deposits under Sec 269 IT Act (Rs 20000/- and exceeding by way of cheque
02- Subject:- MIS Account Rules,2006 ; Regarding(No bonus on maturity w.e.f 13.06)
03- Subject:- SCSS-2004-Clarification regarding ( FAQ on on premature closures interest & claim settlement)
04- Subject:- SCSS -2004,nomination through Power of Attorney : clarification
05- Subject:- SCSS-2004; clarification on payment of interest less than a quarter
06- Subject:- SCSS-2004; clarification for continuance of an SCSS account after death of depositor
07- Subject:- SCSS-2004: issue relating TDS ; clarification
Agent Commission on Savings Schemes
The payment of commission to agents of Public Provident Fund (PPF) Scheme and Senior Citizens Savings Scheme has been discontinued, with effect from 1st December, 2011. Commission under all other schemes (except MPKBY Agents) has been reduced from 1% to 0.5%. However, commission to Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents will continue at the existing rate of 4%.
The Committee set up by the Government for comprehensive review of National Small Savings Fund (NSSF) had, inter-alia, recommended rationalization of commission rate structure. Based on the recommendations, the Government has decided to reduce/ abolish the agency commission, the main, intention for which is to make these schemes more investor centric than agent centric. Market linked rates to investors, market linked interest rates on loans to States and Centre and viability of NSSF can only be ensured if the administrative cost of NSSF, of which this commission is a part, is brought down and the benefit of market alignment of rates is passed on to the investor rather than burdening the structure with higher administrative costs. To this effect, the decision of Government is pro investor and also keeps in mind the interest of agents where required.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.
The Committee set up by the Government for comprehensive review of National Small Savings Fund (NSSF) had, inter-alia, recommended rationalization of commission rate structure. Based on the recommendations, the Government has decided to reduce/ abolish the agency commission, the main, intention for which is to make these schemes more investor centric than agent centric. Market linked rates to investors, market linked interest rates on loans to States and Centre and viability of NSSF can only be ensured if the administrative cost of NSSF, of which this commission is a part, is brought down and the benefit of market alignment of rates is passed on to the investor rather than burdening the structure with higher administrative costs. To this effect, the decision of Government is pro investor and also keeps in mind the interest of agents where required.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.
Source : PIB
Wednesday, April 25, 2012
Friday, April 20, 2012
Syllabus for Savings Bank Aptitude Test
Syllabus for Savings Bank Aptitude Test
Paper - I
Marks-100
Time-2 Hours
Total No. of Questions-50
Qualifying Marks:- 50%
Note:- The examination will be held with the aid of books approved by the department. All the questions will be objective type with four options. The candidate has to choose the correct option as per his knowledge and quote the rule from the books approved for the examination to support his/her decision.
|
CLICK HERE to Download Interest Calculator w.e.f. 01.04.2012Monday, April 2, 2012
SB Order No.04/2012
SB Order No.04/2012
No.113-01/2011-SB
Government of India
Ministry of Communications & IT
Department of Posts
Dak Bhawan, Sansad Marg,
New Delhi-110001.
Date: 30.03.2012
To
All Heads of Circles/Regions
Addl. Director General, APS, New Delhi.
Subject:- Revision in Interest Rates of Small Savings Schemes w.e.f 1st April 2012.
Sir / Madam,
The undersigned is directed to say that vide its OM No. 6-1/2011-NS-II (Pt.) dated 26.03.2012,
Addl. Director General, APS, New Delhi.
Subject:- Revision in Interest Rates of Small Savings Schemes w.e.f 1st April 2012.
Sir / Madam,
The undersigned is directed to say that vide its OM No. 6-1/2011-NS-II (Pt.) dated 26.03.2012,
Ministry of Finance (DEA) has revised interest rates of Small Savings Schemes from 1st of April 2012.
Detail about old and revised rates is given below:-
INTEREST RATE TABLE
| |||
Name of Scheme
|
Period
|
Interest rates from 1.12.2011
|
Interest rates
from 1.4.2012
|
Savings Account
|
General
|
4.00%
|
4.00%
|
Time Deposit
|
1 Year
|
7.7%
|
8.20%
|
2 Year
|
7.8%
|
8.30%
| |
3 Year
|
8.0%
|
8.40%
| |
5 Year
|
8.3%
|
8.50%
| |
5 Years Recurring Deposit
|
5 years
|
8.0%
|
8.40%
|
Monthly Income Account
|
5 Years
|
8.2%
|
8.50%
|
Sr. Citizen Savings Scheme Account
|
5 Years
|
9%
|
9.30%
|
Public Provident Fund Scheme
Account
|
15 Years
|
8.6%
|
8.80%
|
National Savings Certificates (VIIIth) issue
|
5 Years
|
8.4%
|
8.60%
|
National Savings Certificate (IX-Issue)
|
10 Years
|
8.7%
|
8.90%
|
Thursday, March 29, 2012
Pre data migration activities for CBS Implementation
The data once saved cannot be edited so the user should be careful when entering the data. The user should fill data in all text boxes and successfully save the data, NULL value might cause errors.
The
segments covered under monitoring are ELECTRONIC ACCOUNT DETAILS’,
‘INTEREST POSTING’, ‘MINUS BALANCE DETAILS’, DB ANALYZER and ‘SBCO
OBJECTIONS’. The tolerance levels are also specified in the manual. The
screenshots of the daily DB Analyzer reports from the Head Post Offices
may kindly be arranged to sent to their respective RO (copy to CO)
CLICK HERE TO DOWNLOAD CBS WEBSITE FOR PREMIGRATION-USER MANUAL
Tuesday, March 27, 2012
Revision of Interest Rates for Small Savings Schemes with Effect from 1st April 2012
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingly, the rate of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
Scheme
|
Rate of Interest w.e.f. 1.12.2011
|
Rate of Interest w.e.f. 1.4.2012
|
Savings Deposit
|
4.0
|
4.0
|
1 year Time Deposit
|
7.7
|
8.2
|
2 year Time Deposit
|
7.8
|
8.3
|
3 year Time Deposit
|
8.0
|
8.4
|
5 year Time Deposit
|
8.3
|
8.5
|
5 year Recurring Deposit
|
8.0
|
8.4
|
5 year SCSS
|
9.0
|
9.3
|
5 year MIS
|
8.2
|
8.5
|
5 year NSC
|
8.4
|
8.6
|
10 year NSC
|
8.7
|
8.9
|
PPF
|
8.6
|
8.8
|
Revision of Interest Rates for Small Savings Schemes with Effect from 1st April 2012
Based on the decisions taken by the Government on the recommendations of the Shyamala Gopinath Committee for Comprehensive Review of National Small Savings Fund (NSSF), the interest rates for small saving schemes are to be notified every financial year, before 1st April of that year. Accordingly, the rate of interest on various small savings schemes for the financial year 2012-13 effective from 1.4.2012, on the basis of the interest compounding/payment built-in in the schemes, shall be as under:
Scheme
Rate of Interest w.e.f. 1.12.2011
Rate of Interest w.e.f. 1.4.2012
Savings Deposit
Subscribe to:
Posts (Atom)
