All India Association of Postmasters & Supervisors

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The government is set to reduce interest rates on small savings products such as public provident fund and National Savings Certificate over the next few days - a move that will impact returns on your bank fixed deposits but also pave the way for banks to pare lending rates in the coming months and reduce the EMI burden.  The new formula will see small savings rates linked to returns on government securities of comparable maturity, with the reduction expected to be up to 50 basis points (100 basis points equal a percentage point). The finance ministry is finalizing product-specific rates and sources said the impact would be higher in case of maturity period of less than five years. There are indications that senior citizens and women will be protected with products such as the Sukanya Samriddhi Yojana spared the the axe, at least for the moment.  The new rates are expected to be notified over the next few days with the government set to announce quarterly revision instead

Launch of the Rural ICT project of the Department by handing over the solar powered, biometric hand-held devices with connectivity along with the application software to Gramin Dak Sewaks from three pilot Circles viz Bihar, UP and Rajasthan on 28th Dec 2015 Benefits of Hand-held device to the rural citizen  Electronic transactions- Booking and delivery of Speed Post, registered mail, money orders, sale of stamps and postal stationery will be done through these devices and paper receipt shall be generated  instantaneously thereby eliminating chances of overcharging and other problems associated with manual transactions. Savings Bank deposits & withdrawals, PLI/RPLI premium deposits and loan/claim payments will also be done electronically on these devices.  Immediate uploading of transaction data and financial reconciliation- Using mobile connectivity, data pertaining to all transactions done on the hand-held devices shall be uploaded onto the central server. E-Money or

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MAKHARA SANKRANTHI WISHES TO ALL POSTAL SUPERVISORS AND POST MASTERS AND ALL VIEWERS OF THE BLOG.

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WISHING YOU A ND YOUR FAMILY     VERY HAPPY AND PROSPEROUS                 NEW YEAR 2016