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Small Savings Schemes Interest Rate from April 2023 to June 2023

By
igeadmin
-

Small Savings Schemes Interest Rate from April 2023 to June 2023

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

North Block, New Delhi
Date: March 31, 2023

OFFICE MEMORANDUM

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

The rates of interest on various Small Savings Schemes for the first quarter of financial year 2023-24 starting from 1st April, 2023 and ending on 30th June, 2023 have been revised as detailed below:

Instrument Rates of interest from 01.01.2023 to 31.03.2023 Rates of interest from 01.04.2023 to 30.06.2023
Savings Deposit 4.0 4.0
1 Year Time Deposit 6.6 6.8
2 Year Time Deposit 6.8 6.9
3 Year Time Deposit 6.9 7.0
5 Year Time Deposit 7.0 7.5
5 Year Recurring Deposit 5.8 6.2
Senior Citizen Savings Scheme 8.0 8.2
Monthly Income Account Scheme 7.1 7.4
National Savings Certificate 7.0 7.7
Public Provident Fund Scheme 7.1 7.1
Kisan Vikas Patra 7.2 (will mature in 120 months 7.5 (will mature in 115 months)
Sukanya Samriddhi Account Scheme 7.6 8.0

2. This has the approval of competent authority.

Also Read: Small Savings Schemes Interest Rates from Jan 2023 to March 2023

(Kapil Patidar)
Deputy Secretary (Budget)

To,
1. The Finance Secretary & Secretary
Expenditure, Department of Expenditure
North Block, New Delhi.

2. The Secretary, Department of Economic Affairs
North Block, New Delhi.

3. The Secretary,
Department of Revenue
North Block, New Delhi.

4. The Secretary,
Department of Financial Services
Jeevan Deep Building, New Delhi.

5. The Secretary,
Department of Posts
Dak Bhawan, New Delhi.

6. The Chief General Manager (DGBA)
Reserve Bank of India, Central Office,
Mumbai.

7. Reserve Bank of India
Central Account
Additional Office Building
East High Court Road, Civil Lines, P.B. No.15,
Nagpur — 440 001.

8 Chief Secretaries of States / UT Section Government

9. The Joint Director
National Savings Institute, New Delhi.

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Advances to Government Servants – Rate of interest for purchase of Computer during 2023-24

By
igeadmin
-

Advances to Government Servants – Rate of interest for purchase of Computer during 2023-24

F.No. 5(2)-B(PD)/2023
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North block, New-Delhi
Dated the 29th March, 2023

OFFICE MEMORANDUM

Subject: Advances to Government Servants – Rate of interest for purchase of Computer during 2023-24.

The undersigned is directed to state that the rate of interest for advance sanctioned to the Government servants for purchase of computer during 2023-24 i.e. from 1st April, 2023 to 31st March, 2024 is as under:

  Rate of interest per annum
Advance for purchase of Computer 9.10%

(Sanjay Rawat)
Under Secretary (Budget)

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CCS Leave Travel Concession Rules 1988 – Fulfilment of procedural requirements

By
igeadmin
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CCS Leave Travel Concession Rules 1988 – Fulfilment of procedural requirements

F.No.31011/06/2023-Estt.(A-IV)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training
Establishment A-IV Desk

North Block, New Delhi.
Dated: 29th March, 2023

OFFICE MEMORANDUM

Subject: Central Civil Services (Leave Travel Concession) Rules, 1988 – Fulfilment of procedural requirements

The undersigned is directed to refer to the above mentioned subject and to state that Government employees are allowed to encash 10 days earned leave at the time of availing of LTC to the extent of 60 days during the entire service. However, certain queries have been raised about whether to allow reimbursement of leave encashment or not in cases where the Government employees undertake journeys on private vehicles in areas connected by public transport or the Government servant himself decides to forgo his claim resulting in ‘Nil’ claim on journeys performed.

2. The matter has been considered and decided that since the leave encashment is limited upto 60 days in the entire service, the denial of encashment of leave would not be appropriate in such cases where the Government employee decides to forgo his claim of reimbursement for travel undertaken on private/hired vehicle or his claim is ‘Nil’, provided that:

(i) A Government employee intimates to the Department his intention to avail of LTC in advance and gets the leave sanctioned as per the prescribed procedure before the journey is undertaken;

(ii) The Government employee has submitted a request for leave encashment before the commencement of the journey;

(iii) The Government employee gives a self-declaration that he has actually travelled to the declared place of visit and is not claiming the fare reimbursement for the entire LTC journey.

Also Read: Admissibility of LTC to the pensioner / family pensioner CPAO

3. It is further clarified that in the following cases, the Government employees are not required to forgo the fare-reimbursement for LTC Journey as per prevailing instructions:

(i) The Journey on LTC is made by taxi, auto-rickshaw etc, only between places not connected by rail and these modes operate on a regular basis from point to point with the specific approval of the State Governments/transport authorities concerned and are authorized to ply as public carriers;

(ii) Where a Government servant travels on LTC upto the nearest airport/railway station/ bus terminal by authorized mode of transport and undertakes the rest of the journey to a declared place of visit by private transport own arrangement (such as personal vehicle or private taxi, etc.), limited upto 200 KMs to and for;

(iii) When the Head of Department allows the use of own/hired taxi for an LTC journey on account of the disability of the Government servant or dependent family member as per the extant instructions.

4. It is also reiterated that, within the same block, when the LTC is being availed of by the Government servant and his family members separately, encashment of leave would be restricted to one occasion only.

5. Hindi version will follow.

(Satish Kumar)
Under Secretary to the Government of India
Tel: 2304 0341

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Premature closure of NSC account pledged in favour of banks

By
igeadmin
-

Premature closure of NSC account pledged in favour of banks

SB Order No. 03/2023

No. FS-10/17/2020-FS
Government of India
Ministry of Communications
Department of Posts
(F.S. Division)

Dak Bhawan, New Delhi — 110001
Dated: 27.03.2023

To,
All Head of Circles / Regions

Subject: Clarification on premature closure of NSC account pledged in favour of banks — Regarding.

***

Rule 7(1) of National Savings Certificate Scheme, 2019 provides that the account shall not be closed before maturity except in the following cases, namely: –

(a) on the death of the account holder in a single account, or any or all the account holders in a joint account;

(b) on forfeiture by a pledgee being a Gazetted Officer, when the pledge is in conformity with this Scheme;

(c) when ordered by a court.

2. Tamil Nadu Circle in Lr. No. SB/100-33/2020/Dlgs dated 11.01.2023 requested for clarification and guidance on premature encashment ofNSCs on forfeiture by the Senior Manager, Bank of India which is also a nationalized bank. Hence, the matter was taken up with the Department of Economic Affairs, Ministry of Finance.

3. In response, Department of Economic Affairs, Ministry of Finance in OM No. 14/3/2018-NS dated 20.03.2023 informed that the premature closure of the account is permissible under Paragraph 7(1) of National Savings Scheme. 2019 and can be done under this paragraph by following the prescribed conditions. A copy of the DEA, MoF’s OM is attached for reference.

4. This may be circulated to all the Offices for information and necessary actions. 5. This is issued with the approval of competent authority.

Encl: As above.

Yours faithfully
(DEVENDRA SHARMA)
Asst. Director (SB-II)

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Central Board Trustees EPF recommends 8.15% rate of interest to EPF subscribers for FY2022-23

By
igeadmin
-

Central Board Trustees EPF recommends 8.15% rate of interest to EPF subscribers for FY2022-23

The 233rd meeting of Central Board of Trustees, EPF was held today in Delhi under the Chairmanship of Shri Bhupendra Yadav, Union Minister for Labour & Employment and Environment, Forest & Climate Change. The Vice-Chairmanship of Shri Rameshwar Teli, Union Minister of State for Labour & Employment, Petroleum & Natural Gas and Co-Vice-Chairpersonship of Ms. Arti Ahuja, Secretary Labour & Employment and the Member Secretary Smt. Neelam Shami Rao, Central P F Commissioner were also present during the meeting.

The Central Board recommended 8.15 % annual rate of interest to be credited on EPF accumulations in members’ accounts for the financial year 2022-23. The interest rate would be officially notified in the government gazette after approval of Ministry of Finance, following which EPFO would credit the rate of interest into its subscribers’ accounts.

The CBT recommended the amount balancing both the growth & surplus fund to have safeguards.The recommended rate of interest of 8.15% safeguards the surplus as well as guarantees increase income to members. In fact, the rate of interest at 8.15 % and the surplus of 663.91 Crores is higher than the last year.

The Board’s recommendation involves distribution of more than Rs. 90,000 crores in the members’ account on the total principal amount of about Rs 11 lakh crores which was Rs 77,424.84 crores and Rs 9.56 lakh crores respectively in the FY 2021-22. The total income recommended for being distributed is highest till date. The growth in income and the principal amount is respectively more than 16% and 15% as compared to last financial year 2021-22.

EPFO over the years has been able to distribute higher income to its members, through various economic cycles with minimal credit risk. Considering the credit profile of the EPFO investment, the interest rate of EPFO is higher than other comparable investments avenues available for subscribers. EPFO has consistently followed a prudent and balanced approach towards investment, putting highest emphasis on the safety and preservation of principal with an approach of caution and growth.

EPFO being one of the largest social security organization has stayed true to its objective by maintaining and providing its subscribers with the high assured interest rate even during the periods of volatility in equity and capital markets. A blend of conservative yet progressive approach of investment followed by EPFO has made it a wise option for PF members.

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Last date for linking of PAN-Aadhaar extended

By
igeadmin
-

Last date for linking of PAN-Aadhaar extended

In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. Notification to this effect is being issued separately.

Under the provisions of the Income-tax Act, 1961(the ‘Act’) every person who has been allotted a PAN as on 1st July, 2017 and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March, 2023, on payment of a prescribed fee. Failure to do so shall attract certain repercussions under the Act w.e.f. 1st April, 2023. The date for intimating Aadhaar to the prescribed authority for the purpose of linking PAN and Aadhaar has now been extended to 30th June, 2023.

Also Read: Aadhar Card for Pension Payment-  Central Information Commission

From 1st July, 2023, the PAN of taxpayers who have failed to intimate their Aadhaar, as required, shall become inoperative and the consequences during the period that PAN remains inoperative will be as follows:

  • No refund shall be made against such PANs;
  • interest shall not be payable on such refund for the period during which PAN remains inoperative; and
  • TDS and TCS shall be deducted /collected at higher rate, as provided in the Act.-

The PAN can be made operative again in 30 days, upon intimation of Aadhaar to the prescribed authority after payment of fee of Rs.1,000.

Those persons who have been exempted from PAN-Aadhaar linking will not be liable to the consequences mentioned above. This category includes those residing in specified States, a non-resident as per the Act, an individual who is not a citizen of India or individuals of the age of eighty years or more at any time during the previous year.

It is stated that more than 51 crore PANs have already been linked with Aadhaar till date. PAN can be linked with Aadhaar by accessing the following link https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar .

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Payment of arrears of OROP to eligible pensioners of Armed Forces

By
igeadmin
-

Payment of arrears of OROP to eligible pensioners of Armed Forces

GOVERNMENT OF INDIA
MINISTRY OF DEFENCE
DEPARTMENT OF EX-SERVICEMEN WELFARE

LOK SABHA

UNSTARRED QUESTION NO. 4127

TO BE ANSWERED ON 24th March, 2023

ARREAR OF ONE RANK ONE PENSION

4127. SHRI A. RAJA:
SHRI A. GANESHAMURTHI:
SHRI SUBBARAYAN K.:
Will the Minister of DEFENCE be pleased to state:

(a) whether the Government has paid arrears of one rank one pension to the eligible pensioners of Armed forces;

(b) if so, the details thereof;

(c) whether ex-servicemen objected to the payment of arrears in installments contrary to the direction given by the Supreme Court; and

(d) if so, the details thereof along with the status of payment of arrears in this regard?

ANSWER

MINISTER OF STATE (SHRI AJAY BHATT)
IN THE MINISTRY OF DEFENCE

(a) & (b): Yes, Sir. The payment of arrears of OROP to eligible pensioners of Armed Forces is in progress as per policy of the Government. So far Rs. 5065.70 crore have been paid as arrear of OROP to eligible pensioners of Armed Forces as on 13.03.2023.

(c) & (d): A Miscellaneous Application No. 219/2023 in Writ Petition (Civil) No.419/2016 was filed in the Hon’ble Supreme Court by Indian Ex-Servicemen Movement (an All India Federation of Military Veterans Organisation). Government has filed an affidavit in Hon’ble Supreme Court seeking extension of time for the payment of arrears of OROP. The matter was heard on 20.03.2023 and decision of the Supreme Court is awaited.

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Bhavishya Pension Processing Software: Download Pension slip and Form 16

By
igeadmin
-

Bhavishya Pension Processing Software: Download Pension slip and Form 16

GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
LOK SABHA

UNSTARRED QUESTION NO: 3475
ANSWERED ON: 22.03.2023

Bhavishya Pension Processing Software

Kuruva Gorantla Madhav
Will the Minister of

PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS be pleased to state:-

(a) the details and features of the Bhavishya pension processing software;

(b) the details of benefits realised through the same; and

(c) the details of other measures being taken to ensure simplification of procedures to reduce delays in processing, disbursal and revision of pensionary benefits?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS AND MINISTER OF STATE IN THE PRIME MINISTER’S OFFICE

(DR. JITENDRA SINGH)

(a) to (c): The Bhavishya Pension Sanction & Payment Tracking system (www.bhavishya.nic.in) is an initiative of Department of Pension & Pensioners’ Welfare where pensioners can download pension slip and Form 16. It is integrated with DigiLocker and pensioners can get their e-PPO in DigiLocker. So far the Bhavishya is implemented in 97 Ministries/Departments/Apex Bodies, 818 offices, 7952 DDOs and 1,92,028 PPOs have been issued. To enhance the ease of living of pensioners, the DoPPW has operationalized the www.ipension.nic.in portal in which the following services are available- Bhavishya, CPENGRAMS, ANUBHAV, Pensioners’ Portal, CGHS, Sankalp, JeevanPraman and Dashboards on performance and pension circulars.

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Review the duration of Child Care Leave? Lok Sabha QA

By
igeadmin
-

Review the duration of Child Care Leave? Lok Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
(DEPARTMENT OF PERSONNEL & TRAINING)

LOK SABHA
UNSTARRED QUESTION NO. 3631

(TO BE ANSWERED ON 22.03.2023)

CHILD CARE LEAVE

3631. DR. T.R. PAARIVENDHAR:

Will the PRIME MINISTER be pleased to state:

(a) whether the Government has any data about the total number of women employees who have availed Child Care Leave (CCL) and the number of times along with its duration of the leave period for the last three years and if so, the details thereof;

(b) whether the Government has made any alternative arrangements/suitable replacements to look after their works during their CCL leave period, if so, the details thereof and if not, the reasons therefor; and

(c) whether the Government has any proposal to review the duration of CCL in near future and if so, the details thereof?

Also Read: Entitlement of leave, Leave Encashment, Study Leave, Paternity Leave, Child Care Leave: FAQs CCS Leave Rules

ANSWER

MINISTER OF STATE IN THE MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES
AND PENSIONS AND MINISTER OF STATE IN THE PRIME MINISTER’S OFFICE
(DR. JITENDRA SINGH)

(a) & (b): The power to grant Child Care Leave is with the leave sanctioning authorities specified in the first schedule of CCS (Leave) Rules, 1972. While sanctioning leave, the authority ensures that work does not suffer.

(c): No, Sir.

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Compulsorily Retirement under Fundamental Rules FR 56 – Lok Sabha QA

By
igeadmin
-

Compulsorily Retirement under Fundamental Rules FR 56 – Lok Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
(DEPARTMENT OF PERSONNEL & TRAINING)

LOK SABHA
UNSTARRED QUESTION NO: 3633
(TO BE ANSWERED ON 22.03.2023)

COMPULSORY RETIREMENT

3633. SHRIMATI SARMISTHA SETHI:

Will the PRIME MINISTER be pleased to state:

(a) the number of employees in the Government of India who have been compulsorily retired under Fundamental Rules (FR) 56 (j)/(l), Rule 48 of Central Civil Services (CCS) Pension Rules during the last three years and the current year as of now;

(b) whether any steps have been taken to improve work efficiency in the bureaucratic set up during the last three years; and

(c) if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS AND MINISTER OF STATE IN THE PRIME MINISTER’S OFFICE

(DR. JITENDRA SINGH)

(a): As per the information/data provided by the different Ministries/Departments/ Cadre Controlling Authorities (CCAs), provisions of FR 56(j)/similar provisions have been invoked against a total of 88 officers (Group A and B) during the last three years including the current year.

(b) & (c): Government of India has approved National Programme for Civil Services Capacity Building – Mission Karmayogi in September, 2020 with the objective to create a professional, well-trained and future-looking civil service, that is imbued with a shared understanding of India”s developmental aspirations, national programs and priorities.

As a part of the institutional framework, Capacity Building Commission (CBC) has been set up with effect from 1-4-2021 and an Special Purpose Vehicle, Karmyogi Bharat has been incorporated with effect from 31-1-2022. CBC has the responsibility of coordinating the preparation of Annual Capacity Building Plans, monitor and evaluate the implementation of the plans, supervise the training institutions for the purposes of creation of shared resources ecosystem, make recommendations on policy intervention in areas of personnel/ HR, etc.

Government has also been continuously endeavouring for greater emphasis on digitization, enhanced use of e-office, simplification of rules, periodic cadre restructuring and abolition of redundant laws in improving the overall work efficiency in governance.

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