Wednesday 28 March 2012

Model Request Letter for Grant of One Increment

Government servants are aware that the Ministry of Finance and Railways, both have already issued orders for grant of one increment in the pre-revised pay scale to nullify the anomaly in respect of central government employees who were in receipt of pre-revised increment between February 2006 to June 2006.
A model requesting the concerned head of Office for grant of one increment and drawal of arrears is published below for ready use by the Officers:

MODEL REPRESENTATION FOR GRANT OF ONE INCREMENT

From



To,





Sir / Madam,
Sub: Officers who were due to get heir annual increment between February to June during 2006 – Grant of additional increment as one time measure- Request   for   sanction and drawal of arrears  – Reg.
———
Kind reference is invited to the Ministry of Finance, Department of Expenditure O.M.No.10/02/2011- E.III/A dated 19th March, 2012 wherein all the central government employees who were due to get their annual increment between February to June during 2006 were granted one increment on 1.1.2006 in the pre-revised pay scale as a one time measure and there after next increment in the revised pay structure on 1.7.2006 as per Rule 10 of CCS(RP) Rules, 2008 (Copy enclosed for ready reference).
I wish to submit that my increment in pre revised pay scale  was on __________ and hence, in terms of the above Office Memorandum, I am eligible for one additional increment in pre-revised pay scale as a one time measure and also eligible for  next increment in the revised pay structure on 1.7.2006 as per Rule 10 of CCS(RP) Rules, 2008.
In view of above submission,  I request that  one additional increment may kindly be granted and my pay may please be fixed  as stipulated in above O.M. and that the arrears of pay and allowance may kindly be drawn and paid to me at an early date.


Thanking you ,
Yours Faithfully,

Interest rates on small savings revised w.e.f. 01/04/2012


The Finance Ministry (Budget Division) has issued an Office Memorandum O.M.No: 6-1/2011-NS.II (Pt) dated 26.03.2012 for revision of Interest Rates for various small saving schemes operated mainly through post offices and PPF.

Based on the recommendations of Shyamala Gopinath Committee for comprehensive review of National Small Savings Fund (NSSF), Government had earlier taken the decision that interest rates of various small savings shall be reviewed every financial year and revsions in the same to be notified before 1st of April of that year.

Accordingly the present revision in the interest rates of various small saving scheme has been made.  The following table provides the revision made:

SchemeInterest Rate w.e.f 1.12.2011Interest Rate w.e.f 1.4.2012
Savings Deposit4.04.0
1 year Time Deposit7.78.2
2 year Time Deposit7.88.3
3 year Time Deposit8.08.4
5 year Time Deposit8.38.5
5 year recurring deposit8.08.4
5 year SCSS9.09.3
5 year MIS8.28.5
5 year NSC8.48.6
10 year NSC8.78.9
PPF8.68.8

CLICK HERE 
to download the Office Memorandum (OM) dated 26/03/2012

Sunday 25 March 2012

Validity of Cheques reduced from 6 months to 3 months wef 01.04.2012

Source: Times of India

Saturday 24 March 2012

Union cabinet approved release of 7% DA from 1.1.2012

 

The Union Cabinet today (23/3/2012) gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2012 representing an increase of 7% over the existing rate of 58% of the Basic Pay/Pension, to compensate for price rise.

The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs.7474.53 crore per annum and Rs.8720.32 crore in the financial year 2012-13 (i.e. for a period of 14 months from January, 2012 to February, 2013).