Govt retains interest rate for GPF at 8.7% for current fiscal

The government has retained the rate of interest for General Provident Fund (GPF) and other related schemes at 8.7 percent for the current fiscal.
The 8.7 percent interest will apply on Provident Funds of central government employees, railways and defence forces, according to the notification issued by the Finance Ministry.
The rate of interest will be effective from 1st April 2015, it added.
The interest rate for GPF is in line with the interest rate fixed for Public Provident Fund (PPF) at 8.7 percent for 2015-16.
The government had, however, raised the interest rates for other small saving schemes.
The interest rate for senior citizens savings scheme was hiked from 9.2 percent to 9.3 percent and for Sukanya Samriddhi Account, the special deposit scheme for girl child, the interest rate has been hiked from 9.1 percent to 9.2 percent, respectively.

Clarification regarding application of FR49-regarding.

Clarification regarding application of FR49-regarding.

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DA orders for GDS

RATE OF DEARNESS ALLOWANCE APPLICABLE w.e.f. 1.1.2015 TO THE EMPLOYEES OF CENTRAL GOVERNMENT: REG: ORDERS ISSUED BY DOP.

CORRIGENDUM to HSG I Recruitment Rules in HINDI Version

CORRIGENDUM to HSG I Recruitment Rules in HINDI Version

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DoP to seek Cabinet nod for 240 cr to set up Post Bank

DoP to seek Cabinet nod for 240 cr to set up Post Bank

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VERIFICATION OF MEMBERSHIP FOR RECOGNITION OF SERVICE ASSOCIATION UNDER CCS (RSA) RULES, 1993-CALLING OF APPLICATIONS-REGARDING.

LAST DATED FOR SUBMISSION OF APPLICATION HAS BEEN EXTENDED.

Payment of Dearness Allowance to Central Government employees – Revised Rates effective from 1.1.2015

Payment of Dearness Allowance to Central Government employees – Revised Rates effective from 1.1.2015

Payment of Dearness Allowance to Central Government employees – Revised Rates effective from 1.1.2015

Finance Ministry issued orders for the payment of Dearness Allowance to Central Government employees at Revised Rates effective from 1.1.2015.

DA Order from 1.1.2015 – Finance Ministry issued orders for payment of DA from 1.1.2015

Payment of Dearness Allowance to Central Government employees – Revised Rates effective from 1.1.2015

No.1/2/2015-E-II (B) 

Government of India 

Ministry of Finance 

Department of Expenditure

North Block, New Delhi 

Dated: 10th April, 2015.

OFFICE MEMORANDUM

Subject: Payment of Dearness Allowance to Central Government employees Revised Rates effective from 1.1.2015.

The undersigned is directed to refer to this Ministry’s Office Memorandum No. 1/2/2014-E-II(B) dated 18th September, 2014 on the subject mentioned above and to say that the President is pleased to decide that the Dearness Allowance payable to Central Government employees shall be enhanced from the existing rate of 107% to 113% with effect from January, 2015.

2. The provisions contained in paras 3, 4 and 5 of this Ministry’s O.M. No. I(3)/2008-E-II(B) dated 29th August, 2008 shall continue to be applicable while regulating Dearness Allowance under these orders.

3. The additional installment of Dearness Allowance payable under these orders shall be paid in cash to all Government employees.

4. These orders shall also apply to the civilian employees paid from the Defence Services Estimates and the expenditure will be chargeable to the relevant head of the Defence Services Estimates. In regard to Armed Forces personnel and Railway employees, separate orders will be issued by the Ministry of Defence and Ministry of Railways, respectively.

5. In so far as the employees working in the Indian Audit and Accounts Department are concerned, these orders are issued with the concurrence of the Comptroller and Auditor General of India.

sd/-

( A. Bhattacharya)

Under Secretary to the Government of India

Please click the below link to view the order

Please click the link to view the original order issued by Finmin

Central Government approved 6% DA and DR to CG Employees and Pensioners from Jan 2015

Finally yesterday afternoon only, the Union Cabinet gave its approval to release of an another additional Dearness Allowance with effect from 1.1.2015 to Central Government Employees and Pensioners. 

According to the DA Calculation recommended by the 6th Pay Commission, Central released 6% of additional Dearness Allowance / Dearness Relief over the existing of 107% of the Basic Pay / Pension with effect from 1st Jan 2015 to CG Employees / Pensioners.

Now, Central Government employees as well as pensioners are entitled for DA/DR at the rate of 113 percent of the basic pay with effect from 01.01.2015. The arrears for three months from January to March 2015 will be paid after the formal orders issued by Finance Ministry. 

The report of PIB is reproduced and given below for your information...

Cabinet Approved 6% DA to CG Employees and Pensioners from 1.1.2015

Release of additional installment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners, due from 1.1.2015

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today gave its approval to release an additional installment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners with effect from 01.01.2015 at the rate of six percent increase over the existing rate of 107 percent.

Hence, Central Government employees as well as pensioners are entitled for DA/DR at the rate of 113 percent of the basic pay with effect from 01.01.2015. The increase is in accordance with the accepted formula based on the recommendations of the 6th Central Pay Commission.

The combined impact on the exchequer on account of both DA and DR would be of the order of Rs. 6762.24 crore per annum and Rs. 7889.34 crore in the Financial Year 2015-16 ( i.e. for a period of 14 months from January 2015 to February 2016).

This will benefit 48 lakh government employees and 55 lakh pensioners.

Click to view the press release of PIB 

Source: PIB News

TRANSFER AND PLACEMENT COMMITTEES IN THE DEPARTMENT OF POSTS FOR RECOMMENDING TRANSFERS / POSTINGS OF THE OFFICERS/OFFICIALS OF THE DEPARTMENT-REG

TRANSFER AND PLACEMENT COMMITTEES IN THE DEPARTMENT OF POSTS FOR RECOMMENDING TRANSFERS / POSTINGS OF THE OFFICERS/OFFICIALS OF THE DEPARTMENT-REG

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GOVERNMENT ANNOUNCES INTEREST RATES FOR VARIOUS SMALL SAVINGS SCHEMES; RATES TO COME INTO FORCE WITH EFFECT FROM 01-04-2015

It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities of comparable maturity. In pursuance of that decision, the Government has decided to revise the rates applicable on various small savings schemes as given in the table below.

Scheme	Rate of interest w.e.f.01.04.2014	Rate of Interest w.e.f. 01.04.2015
(1)	(2)	(3)
Savings Deposit	4.0	4.0
1 Year Time Deposit	8.4	8.4
2 Year Time Deposit	8.4	8.4
3 Year Time Deposit	8.4	8.4
5 Year Time Deposit	8.5	8.5
5 Year Recurring Deposit	8.4	8.4
5 Year SCSS	9.2	9.3
5 Year MIS	8.4	8.4
5 Year NSC	8.5	8.5
10 Year NSC	8.8	8.8
PPF	8.7	8.7
Kisan Vikas Patra	8.7	8.7
Sukanya Samriddhi Account Scheme	9.1	9.2

The above rates will be effective from tomorrow i.e. 1.4.2015.

Thus the rates on many of the small savings scheme have undergone an upwards revision vis-à-vis 2014-15.