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Grant of Non-Productivity Linked Bonus (Ad-hoc Bonus) to Central Government Employees for 2023-24: FinMin Released O.M

Grant of Non-Productivity Linked Bonus (Ad-hoc Bonus) to Central Government Employees: FinMIn Released O.M

No.7/ 24/ 2007/ E III (A)
Government of India
Ministry of Finance
Department of Expenditure

OFFICE MEMORANDUM

North Block, New Delhi, Dated 10.10.2024

Subject:- Grant of Non-Productivity Linked Bonus (ad-hoc bonus) to Central Government Employees for the year 2023-24.

The undersigned is directed to convey the sanction of the President to grant of Non-Productivity Linked Bonus (Ad-hoc Bonus) equivalent to 30 days emoluments for the accounting year 2023-24 to the Central Government employees in Group ‘C’ and all non-gazetted employees in Group ‘B’, who are not covered by any Productivity Linked Bonus Scheme. The calculation ceiling for payment of ad-hoc Bonus under these orders shall be monthly emoluments of Rs.7000/-. The payment of ad-hoc Bonus under these orders will also be admissible to the eligible employees of Central Para Military Forces and Armed Forces. The orders will deemed to be extended to the employees of Union Territory Administration which follow the Central Government pattern of emoluments and are not covered by any other bonus or ex-gratia scheme.

2. The benefit will be admissible subject to the following terms and conditions:-

(i) Only those employees who were in service as on 31.3.2024 and have rendered at least six months of continuous service during the year 2023-24 will be eligible for payment under these orders. Pro-rata payment will be admissible to the eligible employees for period of continuous service during the year from six months to a full year, the eligibility period being taken in terms of number of months of service (rounded off to the nearest number of months);

(ii) The quantum of Non-PLB (ad-hoc bonus) will be worked out on the basis of average emoluments/calculation ceiling whichever is lower. To calculate Non-PLB {Ad-hoc bonus) for one day, the average emoluments in a year will be divided by 30.4 (average number of days in a month). This will, thereafter, be multiplied by the number of days of bonus granted. To illustrate, taking the calculation ceiling of monthly emoluments of Rs. 7000/ – (where actual average emoluments exceed Rs. 7000/ -), Non-PLB (Ad-hoc Bonus) for thirty days would work out to Rs. 7000×30/ 30.4=Rs.6907.89/ – (rounded off to Rs.6908/-) .

Also Read: Cabinet approves and announces Productivity Linked Bonus (PLB) for 78 days to Railway Employees

(iii) The casual labour who have worked in offices following a 6 days week for at least 240 days for each year for 3 years or more (206 days in each year for 3 years or more in the case of offices observing 5 day week), will be eligible for this Non­ PLB (Ad-hoc Bonus) Payment. The amount of Non-PLB (ad-hoc bonus) payable will be (Rs.1200×30/ 30.4 i.e.Rs.1184.21/- (rounded off to Rs.1184/-). In cases where the actual emoluments fall below Rs.1200/- p.m., the amount will be calculated on actual monthly emoluments.

(iv) All payments under these orders will be rounded off to the nearest rupee.

(v) Various points regarding regulation of Ad-hoc / Non- PLB Bonus are given in the Annexure.

3. The expenditure on this account will be debitable to the respective object head in terms of Department of Expenditure’s Notification dated 16th December 2022.

4. The expenditure to be incurred on account of Non-PLB (Ad-hoc Bonus) is to be met from within the sanctioned budget provision of concerned Ministries/ Departments for the current year.

5. In so far as the persons serving in the Indian Audit and Accounts Department are concerned, these orders are issued in consultation with the Comptroller and Auditor General of India as mandated under Article 148(5) of the Constitution of India.

(Umesh Kumar Agarwal)
Deputy Secretary to the Government of India.

ANNEXURE to O.M. No. 7/24/2007-E-III (A) dated 10/10/2024

Point Clarification
1. Whether the employees in the following categories are eligible for the benefit of ad-hoc bonus for an accounting year Subject to completion of minimum six months continuous service and being in service as on 31st March, 2024.
(a) Employees appointed on purely temporary ad-hoc basis. (a) Yes, if there is no break in service.
(b) Employees who resigned, retired from service or expired before 31st March, 2024. (b) As a special case only those persons who superannuated or retired on invalidation on medical grounds or died before 31st March, 2024 but after completing at least six months regular service during the year will be eligible for the ad-hoc bonus on pro rata basis in terms of nearest number of months of service.
(c) Employees on deputation/ foreign service terms to state governments, U.T. Governments, Public Sector Undertakings, etc., on 31st March, 2024. (c} Such employees are not eligible for the ad-hoc bonus to be paid by the lending departments. In such cases the liability to pay ad-hoc bonus lies with the borrowing organization depending upon the ad-hoc bonus/ PLB/ex-gratia/incentive payment scheme, if any, in force in the borrowing organization.
(d) Employees who reverted during accounting year from deputation on foreign service with the organizations indicated in ‘C’ above. (d) The total amount of bonus/ex-gratia received for the accounting year from foreign employer and the ad-hoc bonus, if any, due from a central government office for the period after reversion will be restricted to the amount due under ad-hoc bonus as per these orders.
(e) Employees from state Government/U.T. Admn./Pub1ic Sector Undertakings on reverse deputation with the Central Government. (e) Yes, they are eligible for ad-hoc bonus to be paid by the borrowing departments in terms of these orders provided no additional incentive as part of terms of deputation, other than Deputation Allowance, is paid and the lending authorities have no objection.
(f) Superannuated employees who were re-employed. (f) Re-employment being  fresh employment, eligibility period is to be worked out separately for re-employment period; the total amount admissible, if any, for prior to superannuation and that for re-employment period being restricted to the maximum admissible under ad-hoc bonus under these orders.
(g) Employees on half-Pay leave/ E.O.L./Leave not due/study leave at any time during the accounting year. (g) Except in the case of leave without pay the period of leave of other kinds will be included for the purpose of working out eligibility period. The period of E.O.L./dies non will be excluded from eligibility period but will not count as break in service for the purpose of ad-hoc bonus.
(h) Employees  under suspension at any time during the accounting year. (h) Subsistence allowance given to an employee under suspension for a period in the accounting year cannot be treated as emoluments. Such an employee becomes eligible for the benefit of ad-hoc bonus if and when reinstated with benefit of emoluments for the period of suspension, and in other cases such period will be excluded for the purpose of eligibility as in the case of employees on leave without pay.
(i) Employees transferred from one Ministry/Department/Office covered by ad-hoc bonus orders to another within the Government of India or a Union Territory Government covered by ad-hoc bonus orders and vice versa. (i) Employees who are transferred from any of the Ministry/Department/Office covered by ad-hoc bonus orders to another such office without break in service will be eligible on the basis of combined period of service in the different organizations. Those who are nominated on the basis of a limited departmental or open competitive exam from one organization to a different organization will also be eligible for the ad- hoc bonus. The payment will be made only by the organization where he was employed as on 31st March, 2024 and no adjustments with the previous employer will be necessary.
(j) Employees who are transferred from a Government Department/ Organization covered by ad-hoc bonus orders to a Government
Department/ Organization covered by productivity – Linked Bonus scheme or vice versa.
(j) They may be paid what would have been paid on the basis of emoluments in ad- hoc bonus covered department for the entire year less the amount due as productivity- linked bonus. The amount so calculated may be paid by Department where he was working on 31st March, 2024 and/or at the time of payment.
(k) Part-time employees engaged on nominal fixed payment (k) Not eligible.
2. Whether ad-hoc bonus is payable to casual labour for an accounting year in the following cases:-  
(a) Those who have put in specified number of days of work in different offices during each of the three years ending with the said accounting year. (a) The eligibility is to be worked out for three years from the said accounting year backwards. The period of 240 days of work in each of these years may be arrived at by combining the number of days worked in more than one offices of the government of India, for which bonus, ex-gratia or incentive payment has not been earned and received.
{b) Casual labour who were not in work on 31st March, 2024. (b) The condition of being in employment on 31st March, 2024 as laid down in these orders is applicable to regular Government Employees and not to casual labour.
(c) Those who have put in at least specified number of days of work in each of two years preceding the accounting year but are short of this limit due to regularization in employment in the said accounting year. (c) If a casual labour, who has been regularized in the accounting year does not fulfill the minimum continuous service of six months as on 31st March, 2024 and therefore, cannot be granted benefit as a regular employee, he may be allowed the benefit as for a casual labour provided the period of regular service in the said year if added to the period of work as casual labour works out to at least specified number of days in that accounting year.

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Enhancement of Constant Attendant Allowance (CAA) under CCS: DoPPW OM dt 03.10.2024

Enhancement of Constant Attendant Allowance (CAA) under CCS: DoPPW OM dt 03.10.2024

फा. न. 1/5/2024-P&PW(F)-9809
Government of India
Ministry of Personnel, PG & Pensions
Department of Pension & Pensioners’ Welfare
(Desk-F)

3rd Floor, Lok Nayak Bhawan
Khan Market, New Delhi-110 003

Dated: 03.10.2024

OFFICE MEMORANDUM

व‍िषय : Enhancement of Constant Attendant Allowance (CAA) under CCS (Extraordinary Pension) Rules, 1939 / 2023 – reg.

The Department of Pension & Pensioners’ Welfare (DoPPW) vide O.M. No.1/4/2017-P&PW(F) dated 3rd October, 2017 had conveyed that the rate of Constant Attendant Allowance payable to the Civilian pensioners shall be increased by 25% every time the dearness allowance on the revised Pay in the Pay Matrix is increased by 50%.

2. DoPPW vide O.M. of even number dated 18.09.2024 (copy enclosed) has requested all Ministries / Departments to enhance the amount of Constant Attendant Allowance by 25% from the existing Rs.6750/- to Rs.8438/- per month with effect from 01.01.2024.

3. All the Ministries / Departments may please bring the above to the notice of all concerned.

(Dilip Kumar Sahu)
Under Secretary to the Government of India

To,
All Ministries/Departments of the Govt. of India as per standard distribution list.

Copy to:

President’s Secretariat, Vice President’s Secretariat, Prime Minister’s Office, Cabinet Secretariat, Supreme Court of India, C&AG, UPSC, CPAO etc. as per standard endorsement list.

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Central Govt pensioners should get pensions by last working day of each month: CPAO O.M dt 20.09.2024

Central Govt pensioners should get pensions by last working day of each month: CPAO O.M dt 20.09.2024

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
CENTRAL PENSION ACCOUNTING OFFICE
TRIKOOT-II, BHIKAJI CAMA PLACE,
NEW DELHI-110066

No.CPAO/Banking Coord/Pension Disbursement/2024-25/145-208

Dated: 20th September, 2024

Office Memorandum

Subject: Disbursement of Pension/Family Pension-reg.

Attention is invited to the provisions contained in Para No. 11.1.(vi) of ‘Scheme for Payment of Pensions to Central Government Civil Pensioners by Authorized Banks’ (Fifth Edition, July 2021) according to which CPPCs of Authorized Banks are to credit the monthly pension/family pension in the account of pensioner/family pensioner by the last working day of the month to which they relate except for the month of March for which it should be credited on the first working day of the succeeding month i.e. April.

From time to time, this office has been receiving grievances, from pensioners as well as family pensioners about delay in credit of monthly, pension/family pension into their accounts. Delay in credit of monthly pension/family pension causes avoidable financial hardship and anxiety to the old age pensioners/family pensioners.

The delay in credit of pension/family pension has been viewed very seriously. The CPPCs are hereby instructed to ensure that the monthly pension/family pension is credited in the pensioner’s/family pensioner’s account every month as per prescribed timelines. Any delay, in credit of pension/family pension beyond prescribed timelines, will be viewed very seriously and necessary action, as deemed fit, will be taken.

In order to monitor timely disbursement of pension/family pension, all the CPPCs are instructed to furnish a report regarding credit of monthly pension/family pension electronically invariably by the forenoon of the last working day of the month. The report can be submitted by logging to e-PPO site i.e. https://eppo.nic.in. The steps are explained in the “Annexure’ attached.

This issue with the approval of Chicf Controller (Pensions).

Sd/-
(Vaibhav C Ghalme)
Enclosure: as above. Controller of Accounts

To

  1. Head of all CPPCs of Authorized Banks
  2. Government Business Department of all Authorized Banks

Copy to:

    1.PS to Addl. CGA (A&FR)
    2.PS to CC (P)
    3.Sr.TD, NIC. CPAO with request to upload this O.M. on CPAO website.

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    National Anubhav Awards Scheme, 2025

    National Anubhav Awards Scheme, 2025

    • For the first time, Anubhav Awards Scheme covers employees of Central Public Sector Undertakings, including Public Sector Banks
    • Last Date for publication of write ups on Anubhav portal will be 31stMarch 2025, all Line Ministries/Departments to reach out to pensioners to make submissions on Anubhav Portal
    • National Anubhav Awards Scheme: A treasure trove of experiences for Nation building
    • Till date, DOPPW confers 59 Anubhav Awards and 19 Jury Certificates

    On the directions of Prime Minister Shri Narendra Modi, Department of Pension & Pensioners’ Welfare had launched an online platform named ‘Anubhav’ in March, 2015 to enable ‘eligible’ retiring/retired government employees in sharing their experiences of working with the Government.

    Thereafter, an Annual Awards Scheme was devised in 2015 to incentivize and encourage the submission of the experiences through write ups. Till date, 10,886 write-ups have been published and 78 outstanding write ups have been conferred with 59 Anubhav Awards and 19 Jury Certificates in seven Anubhav Awards Ceremonies.

    Government of India has notified the National Anubhav Awards Scheme, 2025. To participate in the scheme, Central Government employees/pensioners are required to submit their Anubhav write ups. Thereafter, the write-ups published after assessment by the concerned Ministries/Departments up to 31.03.2025 will be shortlisted for five Anubhav Awards and 10 Jury Certificates.

    The National Anubhav Awards Scheme, 2025 is the watershed moment in the history of Anubhav Portal as for the first time, apart from the employees of Central Government, employees of Central Public Sector Undertakings (CPSUs), including Public Sector Banks, will also be eligible for submitting their write ups. With this, invaluable experiences, insights and best practices prevalent in the strong and vibrant Public Sector of India will also enrich the ever-growing treasure trove of Anubhav Portal. Further, the existing time limit of one year of the retirement within which, the pensioners could submit the write ups, has now been extended up to three years.

    To streamline the assessment process, a new marking system for various pay levels has been introduced.

    For more information, eligible employees or pensioners should visit Anubhav Portal(URL-www.pensionersportal.gov.in/anubhav) where relevant FAQs, steps to fill in the Anubhav write up, selected write ups for guidance, short films on Anubhav Awardees and Citation booklets have been put up for reference.

    PIB

    DoPPW launch Special Campaign for Disposal of Pending Matters (SCDPM 4.0)

    Department of Pension and Pensioners’ Welfare launch Special Campaign for Disposal of Pending Matters (SCDPM 4.0)

    Department of Pension & Pensioners’ Welfare (DoPPW) has commenced the activities under Special Campaign 4.0. Like previous years, this Campaign also aims to minimize pendency, institutionalize Swachhta, strengthening internal monitoring mechanisms and improve records management.

    This year, DoPPW has fixed a target of:

    • Disposal of 8,260 Public Grievance and 831 Appeals.
    • 3976 Physical files and 5,669 Electronic files have been identified for review during the campaign. Out of 3,976 Physical files, 1,263 files have already been identified for weeding out.
    • 66 Cleanliness sites across the country.
    • 83 Rules have been identified for issue for ease of living for pensioners.

    Today, Shri V Srinivas, Secretary (PPW) has inspected the office premises and directed all official to put their best effort to achieve the targets during the campaign period.  Daily progress will be monitored by a dedicated team and uploaded on the SCPDM portal hosted by Department of Administrative Reforms and Public Grievances

    As a part of formal launch of the Campaign, Secretary (PPW) participated in Shredding of old records which have been identified for weeding out. He supervised closure of few e-files. Secretary PPW also approved few OM’s which will be issued for ease of living for pensioners.

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    Cabinet approves modified Productivity Linked Reward Scheme for the major ports and dock labour Board employees/workers from 2020-21 to 2025-26

    Cabinet approves modified Productivity Linked Reward (PLR) Scheme for the major ports and dock labour Board employees/workers from 2020-21 to 2025-26

    The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved modification of the existing Productivity Linked Reward (PLR) Scheme for the major ports and dock labour Board employees/workers from 2020-21 to 2025-26.

    The modified PLR scheme applicable from 2020-21 to 2025-26 will benefit about 20,704 employees of Major Port Authorities and Dock Labour Board Employees/workers. The total financial implication for the entire period will be about Rs.200 crore.

    Ministry of Ports, Shipping and Waterways has accordingly modified the Productivity Linked Reward (PLR) Scheme for all Major Port Authorities and Dock Labour Board employees/workers for the years 2020-21 to 2025-26 increasing weightage for calculation of PLR to port specific performance instead of weightage to all India performance. Productivity |Linked Reward (PLR) has been calculated on the wage ceiling for calculation of Bonus at Rs.7000/- per month. PLR shall be paid annually by enhancing the port specific performance weightage from 50% to 55% and further increasing to 60%. The All India Port performance weightage will also come down to 40% over a period till 2025-26, This is replacing the existing equal weightage of 50% for the All India port performance and the specific Port performance. It is expected that the proposed modification will bring about the efficiency factor along with competition among the Major Ports.

    This PLR Scheme will foster better industrial relationship and congenial work atmosphere in the Port Sector, apart from stimulating better productivity.

    Productivity Linked Reward (PLR) is an existing scheme for the employees/workers of Major Port Trusts and Dock Labour Board, wherein financial reward is being granted to employees/workers on yearly basis based on the settlement arrived at between Management and the Labour Federations of the Major Port Authorities.

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    Productivity Linked Bonus to all eligible non-gazetted Railway employees for 2023-24: RBE ORDER

    Productivity Linked Bonus to all eligible non-gazetted Railway employees for 2023-24: RBE ORDER

    GOVERNMENT OF INDIA (भारत सरकार)
    MINISTRY OF RAILWAYS (रेल मंत्रालय)
    RAILWAY BOARD (रेलवे बोर्ड)

    RBE No.91/2024

    No. E(P&A)II/2024/PLB-1

    New Delhi, dt. 04.10.2024

    The General Managers/CAOs,
    All Indian Railways &
    Production Units etc.

    Sub: Payment of Productivity Linked Bonus to all eligible non-gazetted Railway employees for the financial year 2023-24

    The President is pleased to sanction Productivity Linked Bonus (PLB) equivalent to 78 (Seventy Eight) days wages’ without any ceiling on wages for eligibility for the financial year 2023-24 to all eligible non-gazetted Railway employees (excluding all RPF/RPSF personnel). Where, wages’ exceed ₹ 7000/- per month, Productivity Linked Bonus will be calculated as if the ‘wages’ are ₹ 7000/- p.m. Other conditions of eligibility, method of calculation of wages, etc., as prescribed in this Ministry’s instructions and Clarifications issued from time to time, shall remain unchanged.

    2. It has also been decided that in the case of eligible employees mentioned in Para 1 above who were not placed under suspension, or had not quit service/retired/expired during the financial year 2023-24 or were on leave where leave salary admissible is not less than that admissible on leave on average pay, may be paid an amount of ₹17,951/- towards Productivity Linked Bonus for the financial year 2023-24. In the case of employees other than those mentioned above, the amount of Productivity Linked Bonus may be calculated in accordance with the extant instructions on the subject.

    3. Further, in relaxation to the provisions in Rules 905(2), 908 and 909 of State Railway Provident Fund Rules, as contained in Chapter 9 of R-I/1985 edition (2003 Reprint edition), such of the subscribers to the SRPF as are entitled to Productivity Linked Bonus may, if they so desire, deposit the whole or part of the amount admissible under the Scheme In their respective State Railway Provident Fund Accounts.

    4. Disbursement of Productivity Linked Bonus for the financial year 2023-24 to all eligible non-gazetted Railway employees mentioned in Para 1 above should be made in the same mode as payment of salary on priority basis.

    5. This issues with the concurrence of Finance Directorate of the Ministry of Railways.

    (Sundeep Pal)
    Executive Director
    Pay Commission
    Railway Board


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    Cabinet approves and announces Productivity Linked Bonus (PLB) for 78 days to Railway Employees

    Cabinet approves and announces Productivity Linked Bonus (PLB) for 78 days to railway employees

    In recognition of the excellent performance by the Railway staff, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved payment of PLB of 78 days for Rs. 2028.57 crore to 11,72,240 railway employees.

    The amount will be paid to various categories, of Railway staff like Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Pointsman, Ministerial staff and other Group C staff.  The payment of PLB acts as an incentive to motivate the railway employees for working towards improvement in the performance of the Railways.

    Payment of PLB to eligible railway employees is made each year before the Durga Puja/ Dusshera holidays. This year also, PLB amount equivalent to 78 days’ wages is being paid to about 11.72 lakh non-gazetted Railway employees.

    The maximum amount payable per eligible railway employee is Rs.17,951/- for 78 days. The above amount will be paid to various categories, of Railway staff like Track maintainers, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Pointsman, Ministerial staff and other Group ‘C staff.

    The performance of Railways in the year 2023-2024 was very good. Railways loaded a record cargo of 1588 Million Tonnes and carried nearly 6.7 Billion Passengers.

    Many factors contributed to this record performance. These include improvement in infrastructure due to infusion of record Capex by the Government in Railways, efficiency in operations and better technology etc.

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    GPF Interest Rate from Oct 2024 to Dec 2024

    GPF Interest Rate from Oct 2024 to Dec 2024

    (TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
    F.NO. 5(3)-B(PD)/2023
    Government of India
    Ministry of Finance
    Department of Economic Affairs
    (Budget Division)

    New Delhi, the 03 October, 2024

    RESOLUTION

    It is announced for general information that during the year 2024-2025, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1 October, 2024 to 31 December, 2024. This rate will be in force w.e.f. 1 October, 2024. The funds concerned are:

    GPF Interest Calculator

    1. The General Provident Fund (Central Services).
    2. The Contributory Provident Fund (India).
    3. The All India Services Provident Fund.
    4. The State Railway Provident Fund.
    5. The General Provident Fund (Defence Services).
    6. The Indian Ordnance Department Provident Fund.
    7. The Indian Ordnance Factories Workmen’s Provident Fund.
    8. The Indian Naval Dockyard Workmen’s Provident Fund.
    9. The Defence Services Officers Provident Fund.
    10. The Armed Forces Personnel Provident Fund.

    2. Ordered that the Resolution be published in Gazette of India.

    Sd/-
    (Ashish Vachhani)
    Additional Secretary to the Govt. of India

    To,
    The Manager, (Technical Branch)
    Government of India Press, Minto Road, Delhi.

    F.No.5(3)-B(PD)/2023

    Copy forwarded to all Ministries/Departments of Government of India, President’s Secretariat, Vice-President’s Secretariat, Prime Minister’s Office, Lok Sabha Secretariat, Rajya Sabha Secretariat, pannel Secretariat, Union Public Service Commission, Supreme Court, Election Commission and NITI ayog.

    Copy also forwarded to :—

    1. Comptroller & Auditor General of India and all offices under his control.
    2. Chairman, Pension Fund Regulatory and Development Authority.
    3. Controller General of Accounts.
    4. Ministry of Personnel Public Grievances and Pension (Pension Unit/All India Services Division).
    5. Financial Adviser of Ministries/Departments.
    6. Chief Controller of Accounts/Controller of Accounts of Ministries/Depariments.
    7. Controller General of Defence Accounts.
    8. Finance Secretary of all State Governments and Union Territories.
    9. Secretary to Governors/Lt. Governors of all States/Union Territories. Yas
    10. Secretary Staff Side, National Council of JCM.
    11. All Members, Staff Side, National Council of JCM. :
    12. NIC – For uploading on webhost.

    (Harish Rajpal)
    Under Secretary (Budget)

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    Small Savings Schemes interest rates from Oct 2024 to Dec 2024

    Small Savings Schemes interest rates from Oct 2024 to Dec 2024

    F.No.1/4/2019-NS
    Government of India
    Ministry of Finance
    Department of Economic Affairs
    (Budget Division)

    North Block, New Delhi
    Dated: 30.09.2024

    OFFICE MEMORANDUM

    Subject: Revision of interest rates for Small Savings Schemes – reg.

    The rates of interest on various Small Savings Schemes for the third quarter of FY 2024-25 starting from 1st October, 2024 and ending on 31st December, 2024 shall remain unchanged from those notified for the second quarter (1 July, 2024 to 30th September, 2024) of FY 2024-25.

    This has the approval of the competent authority.

    (Vishnukanth P.B)
    Director (Budget)

    InstrumentRates of interest
    Savings Deposit4
    1 Year Time Deposit6.9
    2 Year Time Deposit7
    3 Year Time Deposit7.1
    4 Year Time Deposit7.5
    5 Year Recurring Deposit6.7
    Senior Citizen Savings Scheme8.2
    Monthly Income Account Scheme7.4
    National Savings Certificate7.7
    Public Provident Fund Scheme7.1
    Kisan Vikas Patra7.5 (will mature in 115 months)
    Sukanya Samriddhi Account Scheme8.2

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