Postal Employees Blog

Current Affairs Question Answers June 2017 [Date Wise]

2017-06-28T01:11:00.000+05:30

Current Affairs Question Answers June 2017 [Date Wise]
Current Affairs Quiz : June 01 2017	Current Affairs Quiz : June 02 2017
Current Affairs Quiz : June 03 2017	Current Affairs Quiz : June 04 2017
Current Affairs Quiz : June 05 2017	Current Affairs Quiz : June 06 2017
Current Affairs Quiz : June 07 2017	Current Affairs Quiz : June 08 2017
Current Affairs Quiz : June 09 2017	Current Affairs Quiz : June 10 2017
Current Affairs Quiz : June 11 2017	Current Affairs Quiz : June 12 2017
Current Affairs Quiz : June 13 2017	Current Affairs Quiz : June 14 2017
Current Affairs Quiz : June 15 2017	Current Affairs Quiz : June 16 2017
Current Affairs Quiz : June 17 2017	Current Affairs Quiz : June 18 2017
Current Affairs Quiz : June 19 2017	Current Affairs Quiz : June 20 2017
Current Affairs Quiz : June 21 2017	Current Affairs Quiz : June 22 2017
Current Affairs Quiz : June 23 2017	Current Affairs Quiz : June 24 2017
Current Affairs Quiz : June 25 2017	Current Affairs Quiz : June 26 2017
Current Affairs Quiz : June 27 2017	Current Affairs Quiz : June 28 2017
Current Affairs Quiz : June 29 2017	Current Affairs Quiz : June 30 2017
Current Affairs Quiz : June 31 2017	Current Affairs Quiz : June 2017

Source : https://www.jbigdeal.in

Doubts Cleared on India Post Payment Bank (IPPB) Recruitment

2016-10-20T13:28:00.001+05:30

The Indian banking sector is finally opening up with new banks being established from this year. India post has started India Post Payment Bank and has also issued a massive recruitment notification for officer posts. Since freshers are also eligible for these positions, and IPPB being a new bank, many aspirants have doubts related to eligibility, job profile etc.

For the candidates to better understand India post payment bank recruitment 2016, here is a compilation of answers for some of your most common doubts.

As per the notification, the online registration closes on October 25. So if you are eligible, go ahead & submit your applications immediately instead of waiting for the last minute.

Age & Qualification Doubts:

Q: India Post Payment Bank (IPPB) – Is it a govt job or private?

A: India Post Payments Bank (IPPB) is 100% owned by Government of India through Department of Posts.So it is completely a govt bank job.

Q: I will turn 20 years in January 2017.Am I eligible for Assistant Manager (Territory- scale I) post?

A: No.The age limit fixed for recruitment of this position is 20 - 30 yrs, as on September 1, 2016.

Only those who are born not between 02.09.1986 & 01.09.1996 are eligible to apply for scale I positions.

Q: What is the age requirement for Manager (scale II) & Senior Manager (scale III)?

A: Manager (scale II): 23 to 35 years (birth date must be within 02.09.1981 & 01.09.1993

Senior Manager (scale III): 26 to 35 years (born between 02.09.1981 & 01.09.1990)

Q: I belong to OBC/ SC/ ST category.Are there any relaxations in age?

A: Like in any govt recruitments, the maximum age is extended by 3 yrs for OBC, 5 yrs for SC, ST, 10 yrs for persons with disability (PWD)

Q: I have only 45% in degree.Am I eligible?

A: You are eligible as pass in degree is enough to apply.The percentage of marks doesn't matter for india post payment bank recruitment 2016.

Q: I am in final semester/ year of college & will complete degree only in 2017.

A: Candidates who have completed their degree by Sep 1, 2016 are only eligible for these jobs.

Therefore, those who are doing their final semester/ year or waiting for results are NOT permitted to apply.

Experience related Doubts

Q: Is experience required for Assistant Manager (scale I) cadre job?

A: No.Freshers are also eligible for this post

Q: What are the experience conditions for scale II & III positions?

A: There are 652 scale II & 408 scale III vacancies in India post payment bank recruitment.So each post has separate condition listed below:

Manager (scale II): 3 yrs experience of working in scale I in any public sector bank or equivalent scale in a private bank or similar level in any other organization.

Senior Manager (scale III): Minimum 6 yrs experience of working in scale II in any govt bank or equivalent scale in a private bank or similar level in any other organization.

Salary, Bond & Job Location Doubts

Q: What is the salary of officers in India post payment bank?

A: The payscale for employees in IPPB varies with scale.

Assistant Manager (scale I): Rs.65,000 /month Manager (scale II): Rs.83,000 /month

Senior Manager (scale III): Rs.1,06,000 /month

The above salary is inclusive of allowances & benefits.So your take home salary could be around 30% lesser than the CTC given above.

Q: Is there any service bond in india post payment bank?

A: There is NO agreement or service bond in IPPB

Q: Can I get posting in my home state? Are there transfers?

A: The IPPB recruitment is not conducted state-wise.So you may be posted to any branch of the bank located across India.

Source: Post Bank Of India

WORK WITH INDIA'S MOST ACCESSIBLE BANK India Post Payments Bank Recruitment

2016-10-04T20:46:00.000+05:30

CLICK HERERecruitment Of Scale 1 Officer

CLICK HERERecruitment Of Scale IV and Above Officers

CLICK HERE Recruitment of scale II and Scale III officers

India Post Payments Bank

Financial Inclusion and Accessibility

Work with India’s largest banking network and make a real difference. Explore the different ways you can become a banker to the nation.

CHIEF EXECUTIVE OFFICER / MANAGING DIRECTOR:

IPPB invites applications for the post of CEO/ MD of its soon to be launched payments bank. The candidate will be responsible for leading the organization in driving business, especially catering to rural/unbanked customers. Candidates with relevant qualification, experience and skills (as specified in the advertisement) are encouraged to apply for this position and spearhead the organization as it transforms India’s financial landscape.

DOWNLOAD APPLICATION & DETAILS

SCALES VII & CGM:

Candidates with relevant qualifications, experience and skills with a minimum of 15/18 years experience may apply for full-time posts of GM (Finance), CGM(Operations), GM (HR), GM(Risk and Compliance) and CGM(Sales and Marketing). Applications open from September 28th, 2016 to October 19th, 2016.

APPLY NOW
DOWNLOAD DETAILS

CONTRACT POSTS:

Chief Technology Officer:

Candidates with relevant qualification, experience and skills may apply for the position of Chief Technology Officer (on contract). Applications open from September 28th, 2016 to October 19th, 2016.

APPLY NOW
DOWNLOAD DETAILS

Other Appointments:

Candidates with relevant qualifications, experience and skills may apply for positions (on contract) across Company Secretary, Technology, Products, Risk & Compliance functions. Applications open from September 28th, 2016 to October 19th, 2016.

APPLY NOW
DOWNLOAD DETAILS

DEPUTATION FROM PSB – CORPORATE ROLES:

Candidates from Public Sector Banks with relevant qualification, experience and skills may apply for posts to be filled through deputation. Applications are to be received through proper channel by 19th October.

DOWNLOAD APPLICATION & DETAILS

DOWNLOAD RESPONSE TO CLARIFICATIONS

SCALE I:

Graduates (Including those with experience) required for full-time positions of Assistant Manager (Territory) may apply for this position. Applications open from October 4th, 2016 to October 25th, 2016.

APPLY NOW
DOWNLOAD DETAILS

SCALE II, III:

Candidates with relevant qualifications, experience and skills with a minimum of 3/6 years experience may apply for full-time Manager / Senior Manager positions across Branch, Sales, Product, Marketing, Finance, Program Management Office, HR & Administration, Internal Audit, Operations – Central Processing Centre, Risk & Compliance and Technology functions.Applications open from October 7th, 2016 to November 1st, 2016.

APPLY NOW
DOWNLOAD DETAILS

SCALE IV – VI:

Candidates with relevant qualifications, experience and skills with a minimum of 9/12/15 years experience may apply for full-time Chief Manager / AGM/ DGM positions across Operations, HR and Administration, Technology, Risk and Compliance, Program Management Office, Product, Marketing and Finance functions. Applications open from October 4th, 2016 to October 25th, 2016.

APPLY NOW
DOWNLOAD DETAILS

Source : IndiaPost.gov.in

Scientists discover ‘The Eye’, a new mysterious rotating island in Argentina

2016-09-14T00:15:00.000+05:30

Initially, the scientists had suspected that the Island may not be a natural formation due to the seemingly perfect shape of its inner and outer circles. (Image: Google Earth)

Scientists have discovered a mysterious island located in swampy marshes of ‘Parana Delta’ in the northern region of Argentina. As per the scientists, ‘The Eye’ has existed since at least 2003. Press TV reports that the island is 118 meters in diameter, and sits on a pond of water. What’s much interesting about this tiny piece of land is that it not only rotates on its own axis but is also leaning in various sectors on the wall of the outer circle that contains it. Initially, the scientists had suspected that the Island may not be a natural formation due to the seemingly perfect shape of its inner and outer circles. However, when the group of scientist reached the ground zero, they found unusually clear water, firm terrain, and a floating land mass, which further increased their curiosity to know more. The wonder island can be seen through Google Earth imagery. A video shared on an individual YouTube account claims to show how the island moves over time:

Now, a group of scientists and filmmakers, hoping to explore the island further, have started a ‘Kickstarter’ campaign seeking fund for the project. The campaign will end on October 10.

Source: The Financial Express

Issue of notification for LDC Exam for promotion to the cadre of Inspector Posts for the year 2015-16

2016-09-05T20:31:00.002+05:30

To view please Click Here.

It has now been decided by the Competent Authority to conduct the Limited Departmental Competitive Examination for promotion to Inspector Posts cadre for the vacancies for the period 01.01.2015 to 31.03.2016 i.e. for the year 2015-16 in-house on the old pattern using OMR method for evaluation. The said Examination is scheduled to be held on 15th and 16th October, 2016.

Click below image to Enlarge:

Achievements of India Post in Last Two Years - Rajya Sabha Reply

2016-08-16T13:43:00.007+05:30

Achievements of India Post in Last Two Years - Rajya Sabha Reply

Posted: 15 Aug 2016 03:39 AM PDT

The Minister of State (IC) of the Ministry of Communications Shri Manoj Sinha replied in Rajya Sabha regarding the details of the achievements of Ministry of Telecommunications.

As per reply following are the achievement of Department of Post during the last two years

A. REVENUE GROWTH

	2013-14 (Rs. in crore)	2014-15 (Rs. in crore)	2015-16 (Rs. in crore)
Speed Post revenue	1372	1495	1600.45
Parcel revenue	77.63	112	149.94

B. E-COMMERCE

Tie-up with e-commerce agencies

900 e-commerce merchants

	2013-14 (Rs. in crore)	2014-15 (Rs. in crore)	2015-16 (Rs. in crore)
Collection through Cash on Delivery (COD)	100	400	800

Parcel delivery per day

40,000 parcels

	Rural (in Rs.)	Urban (in Rs.)
Average value of e-commerce parcel	3000	5000

Overall premium products and services Revenue (Rs. in crore)

2014-15	2015-16	2016-17(up to June)
2827.95	3097.24	691.60

Post Shoppes

No of Post Shoppes opened	50
Total revenue generated	Rs 60 lakh

Distribution of Gangajal

The Department since 10^th July 2016 has made arrangement for distribution of Gangajal, sourced from Rishikesh and Gangotri in 200 ml and 500 ml bottles, from post offices. The same are available through Head Post Offices across the country and can also be ordered online at www. epostoffice.gov.in.

The packaging and handling charges of delivery of Gangajal are as follows:

Size	Source	Post Office counters (in Rs.)	*Online (in Rs.)	Doorstep Delivery (in Rs.)
200 ml	Rishikesh	15	101	28
500 ml	Rishikesh	22	151	38
200 ml	Gangotri	25	101	38
500 ml	Gangotri	35	151	51

*Online cost includes Speed Post charges.

Doorstep delivery means a customer can place an order in the nearest post office and the Gangajal is delivered at his doorstep. The cost excludes Speed Post charges.

C. PARCEL INFRASTRUCTURE

Road Transport network established for fast, secure, and reliable transmission of parcels	34 (major routes)
Mail vans fitted with GPS devices for online monitoring of mail movement	950

	2013-14	2014-15	2015-16
Parcel Centre established	20	28	9

D. IT MODERNIZATION

CBS roll out	22,722 Post Offices
Post Office Savings Bank (POSB) Accounts migrated to CBS	31.61 Crore
ATM Installed	946
Hand held devices supplied to rural branch Post Office	4,782

E. FINANCIAL INCLUSION

i. Post Office Savings Bank Account

2014-15	2015-16
33,03,35,249	34,53,21,639

ii. Sukanya Samriddhi Yojana (SSY)

No. of Sukanya Samriddhi Account (SSA) upto March 2016	85,31,482
Amount invested upto March 2016 (INR)	5151,33,40,173

iii. Kisan Vikash Patra (KVP)

No. of KVP sold upto March 2016	2,79,76,490
Amount invested upto March 2016 (INR)	27853,19,91,700

iv. Jan Suraksha Yojana (JSY)

No. of Atal Pension Yojana (APY)	98,802
No. of Pradhan Mantri Jeewan Jyoti Yojana(PMJJBY)	25,852
No. of Pradhan Mantri Suraksha Bima Yojana(PMSBY)	3,73,173
Total Number	4,97,827

H. MONEY ORDERS

Disbursement through Money Orders under National Pension Schemes

SI No	National Pension Schemes
SI No	National Pension Schemes	2014-2015		2015-2016
		No. of MO Booked (in Crore)	Amount (in Crore)	No. of MO Booked (in Crore)	Amount (in Crore)
1	Indira Gandhi National Old Age Pension Scheme (IGNOAPS)	4.32	3201.82	3.13	2256.83
2	Indira Gandhi National Widow Pension Scheme (IGNWPS)	1.40	1029.24	1.76	937.23
3	Indira Gandhi National Disability Pension Scheme (IGNDPS)	.55	414.22	.57	445.78
	Total	6.27	4645.28	5.46	3639.84

PostalEmployeesPortal WISHs YOU ALL A HAPPY INDEPENDENCE DAY

2016-08-14T23:37:00.001+05:30

WISH YOU ALL A HAPPY INDEPENDENCE DAY

India Post to Increase the Parcel Transportation Channels

2016-08-13T12:39:00.003+05:30

After collecting Rs.1,500 crore at the end of March 2016 in cash for delivering parcels for various e-commerce portals, including Amazon and Flipkart, the postal department now plans to have dedicated road routes for short distances and dedicated trains for longer routes to deliver parcels.

A senior department of posts (DoP) official, requesting anonymity, said B.V. Sudhakar, secretary of DoP, met officials from the ministry of railways earlier this month to explore areas to increase parcel delivery capacity, especially from e-commerce firms, through the railways.

“We are exploring various modes to deliver e-commerce parcels. We plan to buy our own vehicles for delivery through roads. Currently, we outsource and have few vehicles. Besides, we are looking towards increasing association with the railways and are in discussion with them for dedicated trains for parcels,” the official said.

The boom in the e-commerce sector has come as a lifeline for the postal department. The cash collected from e-commerce deliveries by DoP was Rs.500 crore in 2014-15, and a meagre Rs100 crore in 2013-14.

The e-commerce sector in India is expected to grow to $119 billion by 2020 with a total of 320 million shoppers, according to a report released in February by Morgan Stanley.

To be sure, India Post already has tie-up with the railways for transporting parcels and the plan is to increase the capacity in the trains to manage the load which is increasing day by day.

The postal department plans to buy 250-300 new vehicles this year and have a fleet of around 1,300 vehicles for inter-city transport and short distances outside cities.

A senior official at the ministry of railways, who also did not want to be named, said, “We have made extra parcel vans and we plan to have full parcel trains. It is under consideration but it is at an exploratory stage. We have an old association with the DoP and have a railway mail service as well. The DoP and the railways are together exploring the possibility.”

The cash-crunched Indian Railways is exploring all possible ways to increase its fare and non-fare revenues, and is also exploring external financing options to execute various projects.

In the budget of 2016, railway minister Suresh Prabhu had said that the ministry will look at liberalising parcel policies to increase non-fare revenue and it will expand its service offerings especially to cater to sectors such as e-commerce. Prabhu also had said that soon time-tabled parcel trains will be introduced.

As per the Indian Railways Statistical Publications 2014-15, the revenue from parcels and other coaching in financial year 2014-15 was Rs.3,997.89 crore.

Queries emailed to the spokespersons of the ministry of railways and the DoP on 11 August remained unanswered.

According to experts, the coming together of Indian Railways and India Post has the potential of creating a formidable logistics ecosystem.

“The big picture is that we are living in a digital age and once we have a digital platform, you can do a lot of things. It could be e-commerce, education, healthcare, etc. So in India, this is an amazing combination—the post office has last mile connectivity right to the villages and the Indian Railways has a wonderful network,” said Hemant Joshi, partner, Deloitte Haskins & Sells LLP.

Both are government departments and it is an absolutely fantastic combination as it can only create value for the people of India, added Joshi.

The postal department has set up 48 processing centres to handle parcels for handling the e-commerce load. Besides, it is also setting up automatic parcel centres at Mumbai, Chennai, Hyderabad and Bengaluru. The department already has such centres in New Delhi and Kolkata.

Source: Post Bank of India

Outsourcing of pick up, booking and delivery of Speed Post, Registered Post (including Parcel) and Business and Express Parcel - instructions for implementation of the scheme

2016-08-09T22:47:00.002+05:30

CLICK HERE TO VIEW ORDER

Source : NFPE blog

How an India Post E-Commerce Centre Works

2016-08-05T22:45:00.003+05:30

With ecommerce platforms increasingly turning to the Indian Posts to deliver their orders to customers, the fast flourishing e-retail business has become a revenue generator for the state-run agency. Realising the potential, the Postal Department has set up a dedicated ecommerce and parcel processing centers in the country.

Below video shows that how one such ecommerce centre works. This will be a new experience even for India Post employees.

https://www.youtube.com/watch?v=6nJYuZg_Buo

We wish to inform you that CCS-REVISED PAY RULES, 2016 (as per 7th CPC) is released.

2016-08-05T22:29:00.000+05:30

We wish to inform you that CCS-REVISED PAY RULES, 2016 (as per 7th CPC) is released.

Price Rs.120. If you require a copy, kindly send Rs.150 (including postage) by eMO/NEFT.

ACCOUNT HOLDER’S NAME	BOOK CENTRE
ACCOUNT NUMBER	04481010000244
ACCOUNT TYPE	CURRENT ACCOUNT
IFSC CODE	SYNB0000448
BANK NAME	SYNDICATE BANK
BRANCH	BASAVESHWARA ROAD, BANGALORE

Yours Sincerely,

BOOK CENTRE

32, Payappa Garden Street,

Queens Road Cross,

Shivaji Nagar,

BANGALORE - 560051

Phone: 080-41464152 & 22862152

Business hours : 10AM to 6PM

SUNDAY HOLIDAY

Day-10 - IPO Exam - MCQ - Union of India and its Territory & Citizenship (Constitution of India)

2016-07-31T09:52:00.003+05:30

Source: PO Tools

Day - 9 - IPO Exam - Preamble (Constitution of India)

2016-07-31T09:52:00.002+05:30

Day - 9 - IPO Exam - Preamble (Constitution of India)

Claiming tax relief on salary arrears? Don't forget to file Form 10E

2016-07-31T09:29:00.001+05:30

Receiving salary or pension in arrears might change your tax situation. You may fear it's going to move you up a tax slab. Or tax rates may be higher in the year arrears are received as compared to the year to which they belong. To protect you from any additional tax burden, due to delay in receiving income, the tax laws allow a relief under Section 89(1). This relief can be directly claimed in your income tax return, if you have received any portion of your salary in arrears.

The Income Tax Department has made it mandatory to file Form 10E if you want to claim relief under Section 89(1). As per Section 89(1), tax relief is provided by recalculating tax for both the years; the year in which arrears are received and the year to which the arrears pertain. Your taxes are adjusted assuming arrears were received in the year in which they were due.

Let's understand this calculation in detail. Tax for the year in which arrears are received is calculated both inclusive as well as exclusive of arrears. The difference is the tax on additional salary, let's call it x. Now tax is computed for every year to which the arrears pertain- including as well as excluding arrears. The difference is arrived at, let's call it y. If x is more than y, relief is available to the taxpayer.

Here are some important things to remember while claiming relief on arrears:

Form 10E must be filed online on the Income Tax Department website www.incometaxindiaefiling.gov.in . Taxpayers who claimed relief last financial year but did not file Form 10E received a notice from the department for non-compliance. Your return is not processed until you submit this form.
You must submit Form 10E before filing your income tax return.
Many taxpayers are confused about which assessment year to choose while filing Form 10E. Arrears may pertain to earlier years, however, one has to choose the assessment year in which arrears have been received. For example, if arrears are received in financial year FY 2015-16, choose assessment year as AY 2016-17.
Form 10E has to be submitted online and no copy is required to be attached with your tax return. However, you must file and keep all documents safely in your records.
Your employer may ask for confirmation of submission of Form 10E before adjusting your taxes and allowing tax relief. It is not mandatory to submit this form to the employer. You can claim tax relief by filing this form at the time of submitting your tax returns.
Salary is usually taxable when it is due or when it actually received, whichever is earlier. Arrears are usually announced from a back date and therefore cannot be taxed when due.

Relief under Section 89(1) is also allowed to those who receive family pension in arrears. The calculation is the same as mentioned above. Do remember this very important step while filing your returns if you have received arrears during the financial year.

(By Archit Gupta, Founder & CEO, ClearTax.com)

Source:-The Economic Times

Shri B. V. Sudhakar is our new Postal Director General

2016-07-30T22:36:00.002+05:30

Shri B. V. Sudhakar is our new Director General

G Mail to be stopped w.e.f. 01.09.2016 in India Post domain

2016-07-30T21:56:00.000+05:30

This is regarding regularizing email communications between various levels in the Indiapost VPN network. Towards implementation of the Technology Policy, the following email policy is proposed to be adopted, from 1st September 2016.

Email from India post email ID to all other emails are to be allowed in the Indiapost VPN Network
Emails from any other emails to India post mail ID is to be allowed
Emails of all other email service providers like Google, Yahoo, MSN, Hotmail etc will not be allowed to open in India post VPN Network

Email IDS have been provided to all offices in the country.

All official designations (Officers) up to Sub-Divisions have already been created and communicated
Email IDs to offices in 10 Circles, up to Single handed SPMs completed
Email IDs to all offices in Kerala, Rajasthan and Delhi circles would be circulated by 10thAugust 2016
Email IDs to all offices in Maharashtra, Gujrat, Tamilnadu, Andhra pradesh, Uttar Pradesh, West Bengal and Punjab Circle would be circulated by 15th August 2016.

Hence, all officials at all levels should be informed and educated to use India post email ID for all correspondences. The email communications between circles, regions, divisions and post offices including the system administrators should be strictly implemented to use India post mail IDs alone.

This may kindly be circulated to all concerned to prepare them for using Indiapost email, as access to all other mail services would be stopped from 1st September 2016 in our network.

Yours Sincerely,

(V M Sakthivelu)

Deputy Director CEPT

dd_cept@indiapost.gov.in

7th CPC Gazette Notification and Pay rules

2016-07-26T12:38:00.003+05:30

The Government has published the 7th CPC gazette notification.

CLICK HERE FOR PAY RULES

CLICK HERE FOR RESOULTION

Source:http://karnatakacoc.blogspot.in/2016/07/7th-cpc-gazette-notification.html?m=1

e-gazette Notification regarding 7CPC issued 25.07.2016

2016-07-26T06:55:00.001+05:30

e-gazette Notification regarding 7CPC issued 25.07.2016 : Download

Source : http://egazette.nic.in/WriteReadData/2016/170924.pdf

Courtesy : SA Post

NASA's New Horizons postage stamp enters Guinness Book of World Records!

2016-07-25T19:57:00.002+05:30

Image courtesy: NASA/Dan Afzal/U.S. Postal Service

New Delhi: NASA's New Horizons spacecraft is currently administering a probe in and around Pluto and for those of you who are unaware, it is also carrying a 1991 “Pluto Not Yet Explored” postage stamp.

Yesterday, July 19, NASA proudly announced that the stamp in question has earned a Guinness Book of World Record honour for the farthest distance traveled by a postage stamp!

Jimmy Coggins, official adjudicator for Guinness World Records, during a presentation ceremony on July 19 in the Hall of Flags at U.S. Postal Service Headquarters in Washington, D.C., said, “Our mission is to make the amazing official,” as reported by NASA.

Well, it certainly seems like they have! As per NASA, the 29-cent “Pluto Not Yet Explored” stamp became a rallying cry for the New Horizons mission team, which affixed it on the spacecraft at Cape Canaveral, Florida, prior to launch on Jan. 19, 2006. The stamp hitched a ride of more than 3.2 billion miles to Pluto, reaching the dwarf planet on July 14, 2015, bringing humanity its first breathtaking close-ups of the mysterious world.

However, the stamp was cancelled last July when New Horizons flew past Pluto.

The “Pluto Not Yet Explored” stamp is now 274-million miles (441-million kilometers) beyond Pluto, in a quest of sorts, it seems, to break its own record.

8500 post offices will turn into e-Centers by June next year

2016-07-25T19:55:00.002+05:30

State Minister for Ministry of Information, Communication and Technology Zunaid Ahmed Palak on Thursday said the government would turn 8,500 post offices into e-centres by June, 2017 to disseminate information and communication technology services to the rural people across the country. He said this on behalf of State Minister for Post and Telecommunications Begum Tarana Halim while replying to a starred question from treasury bench member Sukumar Ranjan Ghosh in the House.

The government has undertaken a project named Post E-Centre for the Rural Community to turn the post offices into e-centers, he said adding, these e-centers would minimize the digital divide between cities and villages, create employment facilities in villages and develop information and technology based skilled manpower.

He said after completing the project, the people would get more updated facilities from post offices and they would be able to track and trace their letters sitting at home. The people would also be able to use cash, postal cash cards or electronic money transfer service (EMTS) and to pay their e-commerce bills through the services, Palak said. Meanwhile, establishment of the ICT based rural post offices has been completed and such 1,000 more offices will be established by June 2017, he added.

Source : http://dailyasianage.com/

Cyber Attacks Continue and Global Banking Sector in Anxiety

2016-07-25T15:17:00.001+05:30

Cyber Attacks Continue and Global Banking Sector in Anxiety

Posted: 24 Jul 2016 05:56 AM PDT

A series of spectacular cyber-attacks against banks, resulting in the theft of tens of millions of dollars, has heightened fears for an industry becoming an increasingly attractive target for hackers.

Banks in Bangladesh, the Philippines, Vietnam and Ecuador have been victimized over the past year in the attacks on the global interbank service known as SWIFT, and some analysts expect more attacks to become public.

After news of the $81 million heist from Bangladesh's central bank became public in May, SWIFT said the incident was "not a single occurrence, but part of a wider and highly adaptive campaign targeting banks."

Since then, officials said banks have also been hit in the Philippines and Vietnam.

Meanwhile Ecuador's Banco del Austro claimed in a lawsuit that hackers made off with more than $9 million through fraudulent SWIFT transfer requests.

Cyber security specialists say these attacks are likely just the tip of the iceberg, and expect more revelations.

"Cyber criminals are no longer targeting grandmothers at home for small amounts, but going directly where the money is," said Juan Andres Guerrero-Saade, a researcher with the security firm Kaspersky.

Guerrero-Saade said it's not clear where the attacks are coming from, but that the hackers are using techniques similar to those developed for cyber espionage.

"I don't think this implies it's nation-states, it's more of an evolution," the analyst said. "It's criminal actors taking on some of those techniques."

Kaspersky researchers last year uncovered a hacker group which targeted banks in Eastern Europe, estimating losses totaling up to $1 billion.

Dan Guido, cofounder of the security firm Trail of Bits and hacker-in-residence at New York University's engineering school, said the recent security breaches are not surprising.

"I didn't think it would take this long," Guido said.

"There are a large number of attacks like this possible if someone has the resources to do it."

Guido said a relatively small team of determined hackers could carry out the kind of hacks that went through SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, a Brussels-based network which is used by more than 11,000 financial institutions in 200 countries.

The blame, Guido said, rests squarely with SWIFT for failing to bolster its software or require more secure hardware.

"It's clearly within their control to have prevented incidents like this," Guido said.

"They could have had more aggressive security requirements, they could have had protective hardware."

On July 11, SWIFT announced it had hired cyber security firms BAE Systems and Fox-IT while creating its own security intelligence team in an effort to thwart attacks.

In the United States, concerns have been raised among officials, industry leaders and lawmakers about potential threats to banks from hackers.

Data breaches in the past affected some tens of millions of JPMorgan Chase customers, and accounts from financial giant Morgan Stanley. And a congressional report in June found "major data breaches" at the Federal Deposit Insurance Corporation.

Senator Tom Carper last month asked the Department of Homeland Security for a briefing for an investigation into vulnerabilities of the US financial system.

The American Bankers Association in July joined with other financial and security organizations to warn of possible risks.

"While recent events targeted national financial institutions with access to a global payment network, financial institutions should assess the risk of all critical systems to ensure appropriate controls are in place," said the warning, calling for a series of new controls and safeguards against cyber-attacks.

Christiaan Beek of Intel's McAfee Labs said the hackers that targeted SWIFT were well organized and resourceful.

"We can see that the attackers have done their reconnaissance properly and may have used an insider to get the details they needed to prepare their attack," Beek said in a blog post.

"The attackers have a very good understanding of the SWIFT messaging system and how to manipulate the system to prevent the detection of their fraudulent attempts of transferring the money."

Researchers at the security firm Symantec concluded that malware used in the bank hacks shared code with that used in the massive 2014 cyber attack against Sony Pictures.

Guido said it is entirely plausible that US banks could face similar attacks.

"I don't see why it can't happen here," he said.

"There are a lot of smaller banks that don't have expertise and guidance to protect their interconnections."

Guerrero-Saade said a key part of staying ahead of hackers is sharing information about threats to enable security solutions, since many companies fear disclosure would hurt their business.

"Sadly most companies don't tend to be very forward looking, they think that if they don't sound the bell themselves no one will find out," he said.

"It's much better for us to get ahead of this as an international community."

source: Times of India

India Post to Open Payment Bank in Every District in India

2016-07-24T23:00:00.001+05:30

India Post to Open Payment Bank in Every District in India

Posted: 22 Jul 2016 11:41 AM PDT

India Post expects to start the first 50 branches of its payments bank by May 2017, seeking to widen financial inclusion in the country.

As per the current plan, India Post Payments Bank (IPPB) - as it has been termed will eventually have 650 branches across the country.

While the first set of branches will open by May, the remaining will start operations by September 2017, a top official of the Department of Posts said.

The department hopes to submit a final proposal to the Reserve Bank of India by February, ahead of the March 2017 deadline, after it has the required management and technology in place, SK Sinha, secretary, Department of Posts, told .

The RBI gave in-principle approval to 11 applicants in August last year, including the Department of Posts, Aditya Birla Nuvo, Airtel M Commerce Services, Fino PayTech, National Securities Depository, Reliance Industries, Tech Mahindra and Vodafone m-pesa, for setting up payments banks. Three of the 11 entities have decided to back out, citing unviability.

India Post, with a network of about 155,000 post offices, will hire almost 2,000 people for the payments bank operations.

"There will be nine board members, five from outside and four internal people from the department, including the CEO," said Sinha.

The department is contemplating whether it can form its own search and selection committee to appoint a CEO or rely on the standard procedure followed by public sector banks for top-level appointments.

The department has written to state-owned banks seeking nominations. Sinha said the State Bank of India has responded with some names.

"For the next rung of leadership such as the chief financial officer, chief operating officer and chief technology officer, we are forming an internal committee," he said. The government has approved Rs 400 crore equity and Rs 400 crore grant for IPPB.

Alibaba-backed Paytm is the other or payments frontrunner for payments banks in India and has drawn up a largely branchless model.

Sinha said that India Post is looking at catering to the unbanked population of the country with the idea of opening one branch in almost every district of the country.

"Most of the other players may not be even thin king of the areas that we want to service," said Sinha. The plan is to have most of the banking features such as money transfer and internet banking, apart from offering credit (in partnership with other banks or institutions), along with financial products such as mutual funds.

Sinha is betting big on the government's direct benefits transfer scheme to drive transactions, with welfare payments being deposited in the bank accounts of consumers.

updates from Post Bank of India.

Employment News : 23 - July to 29 - July 2016

2016-07-24T22:53:00.001+05:30

Employment News : 23 - July to 29 - July 2016

JOB HIGHLIGHTS

INSTITUTE OF BANKING PERSONNEL SELECTION

Name Of Post : Probationary Officer or Management Trainees

No.of Vacancies : 8822

Last Date :13.08.2016

UNION PUBLIC SERVICE COMMISSION, New Delhi

Name Of Post : Physical Chemist, Dy. Directors, Medical Officers, and Various posts

No.of Vacancies : 17

Last Date :11.08.2016

INDIAN ARMY, TAMIL NADU

Name Of Post : Engineers in Various Streams

No.of Vacancies : 170

Last Date :24.08.2016

RESERVE BANK OF INDIA SERVICE BOARD, Mumbai

Name Of Post : Officers in grade ‘B’

No.of Vacancies : 182

Last Date :09.08.2016

AIRPORT AUTHORITY OF INDIA, Delhi

Name Of Post : Junior Assistant

No.of Vacancies : 60

Last Date :08.08.2016

STEEL AUTHORITY OF INDIA LIMITED

Name Of Post : Operator-Cum-Technician, Attendant-Cum-Technician, Medical Officer, Dental Surgeon, Principal, Superintendant

No.of Vacancies : 226

Last Date :05.08.2016

INTELLIGENCE BUREAU

Name Of Post : Security Assistant (Motor Transport)

No.of Vacancies : 209

Last Date :06.08.2016

NATIONAL INSTITUTE OF ROCK MECHANICS, Bengaluru

Name Of Post : Scientist, Scientist Asstt., Junior Research Fellow, a/c Officer, Office Assistant, etc

No.of Vacancies : 23

Last Date :31.08.2016

www. employmentnews.gov.in/

Source: SA Post

Monetisation of units lying in the subscribers’ account who have not withdrawn their benefits from NPS

2016-07-24T22:47:00.002+05:30

PFRDA has issued Circular dated 90.06.2016 regarding Monetisation of units lying in the subscribers’ account who have not withdrawn their benefits from NPS under NPS Withrawal/Exit Scheme. It is also clarified by another circular dated 14.06.2016 that the scheme will be effective from 01st Aug, 2016

PENSION FUND REGULATORY

AND DEVELOPMENT AUTHORITY

B-14/A, Chhatrapati Shivaji Bhawan

Qutab Institutional Area,

Katwaria Sarai, New Delhi-110016

CIRCULAR

PFRDA/2016/11/Exit/03

09.06.2016

To,
NPS Trust, CRA, Pension Funds, Trustee Bank, Govt Nodal Offices, Annuity Service Providers
and other stakeholders

Monetisation of units lying in the subscribers’ account who have not withdrawn their benefits from NPS

The monetisation policy is deliberated in the circular divided into the following two sections for the purpose of ease of understanding and implementation:

A. Subscribers who have superannuated or attained 60 years of age, but not lodged their withdrawal claims.

B. Those subscribers who have deferred the withdrawal of lump sum and/or purchase of an annuity and who have not claimed these amounts after the completion of such term of deferment OR those who have withdrawn the lump sum amount (60/20) after following the due process but have not purchased the required annuity.

A. Subscribers who have superannuated or attained 60 years of age but not yet lodged their withdrawal claims

a) CRA will initiate the withdrawal process 6 months prior to his/ her attaining age of 60 years or on attaining normal age of superannuation by suo motto registration of the claim and allotment of a specific system generated claim number which would act as a Claim Ack ID for all future references and tracking. Additionally, CRA would send communications on a quarterly basis to all the PAO/DDO/DTO’S seeking information on the impending superannuation cases due in next 6 months to take care of those cases where the age of normal superannuation is below 60 years and register the claim and generate the Ack ID. The CRA would send a reminder after 3 months through a system generated auto communication followed by monthly reminder till the application form is submitted by the subscriber. Also, pop-up windows would be generated on the PAO/DDO/DTO’s/POP-SP/Aggregator system, the moment they log on to the CRA system for any activity informing them the details of pending withdrawal applications and the requirements thereof.

b) If despite the above efforts, the withdrawal application is not received from the subscriber within 1 month from the date of normal superannuation or from date of attainment of 60 years, CRA system would automatically initiate a process of monetization of units held in accounts of such NPS subscribers on the last business day of the month. The business day may be taken as the last working day of the CRA at its headquarters. This involves instructions from CRA to PFM on monetizing the entire accumulated pension wealth of the subscriber and moving into a separate WITHDRAWALS bank account held with Trustee Bank by NPS Trust. By this the NAV is safeguarded to the extent possible. Post this activity, the concerned nodal office and the subscriber would be informed of the monetisation and once again asking him to withdraw the amounts in terms of the process prescribed for withdrawals.

c) Such monetised withdrawals would be kept in a separate withdrawals account with the Trustee bank (preferably with an auto-sweep facility) and the interest accrued on such accounts/amounts would be credited to subscribers account on annual basis.

a. In case the withdrawal is deferred by the subscriber in terms of the regulations as is indicated in the withdrawal application form and received before attaining the age of 60 years or normal age of superannuation, the component pertaining to monetization of the lump sum withdrawal or the component pertaining to purchase of annuity or both would not happen and it stays invested in the NPS under the same PFM and investment choice, unless specifically requested for a change by the subscriber. However, accumulated corpus, if any in the Tier ll account of the subscriber would be monetized. The subject monetisation policy would not be applicable in case if the subscribers choose to contribute beyond the age of 60 years as is allowed under the regulations provided.

b. CRA will intimate the subscriber and the concerned nodal office of the impending due date of such withdrawal 6 months prior to such date of vesting opted by the subscriber. The CRA would send a reminder after 3 months through a system generated auto communication followed by monthly reminder till the application form is submitted by the subscriber. Also, pop-up windows would be generated on the PAO/DDO/DTO’s/POP-SP/Aggregator system, the moment they log on to the CRA system for any activity informing them the details of pending withdrawal applications and the requirements thereof.

d) If despite the above, the withdrawal application is not received from the subscriber within 1 month from the date of vesting as desired by the subscriber, CRA system would automatically initiate a process of monetization of units held in accounts of such NPS subscribers on the last business day of the month. The business day shall be taken as the last working day of the CRA at its headquarters. This involves instructions from CRA to PFM on monetizing the entire accumulated pension wealth of the subscriber and moving into a separate WITHDRAWALS bank account held with Trustee Bank by NPS Trust. By this the NAV is safeguarded to the extent possible. Post this activity, the concerned nodal office and the subscriber would be informed of the monetisation and once again asking him to withdraw the amounts in terms of the process prescribed for withdrawals.

e) Such monetised withdrawals would be kept in a separate withdrawals account with the Trustee bank (preferably with an auto-sweep facility) and the interest accrued on such accounts/amounts would be credited to subscriber account on annual basis.

Yours faithfully

(Venkateswarlu Peri)

General Manager

Click here to Download above Circular fom PFRDA Site

Clarification: Monetisation of units lying in the subscribers’ account who have not withdrawn their benefits from NPS

PENSION FUND REGULATORY

AND DEVELOPMENT AUTHORITY

B-14/A, Chhatrapati Shivaji Bhawan

Qutab Institutional Area

Katwaria Sarai, New Delhi-110016

CLARIFICATION

PFRDA/Exit/1

14.06.2016

To,

NPS Trust, CRA, Pension Funds, Trustee Bank, Govt Nodal Offices, Annuity Service

Providers and other stakeholders

Sub: Monetisation of units lying in the subscribers’ account who have not withdrawn their benefits from NPS

This is reference to PFRDA circular no. PFRDA/2016/11/Exit/03 dated 09.06.2016 on the subject matter. This is to clarify that the provision of the circular will be effective from 01.08.2016.

Yours faithfully

(Venkateswarlu Peri)

General Manager

Click here to Download above Clarification fom PFRDA Website

source: SA Post Blog

Rashtrapati Bhavan museum ready to welcome visitors: 10 key attractions

2016-07-24T22:36:00.000+05:30

A view of the Rashtrapati Bhavan museum.(Raj K Raj/ HT Photo)

The much-awaited second phase of a museum at the Rashtrapati Bhavan is ready to welcome visitors. Now, the legacy of Indian Presidents and chapters of the freedom struggle can be seen under one roof. What’s more? There will be a glimpse of how the planet’s second-largest presidential estate works.

Built at a cost of Rs 80 crore and in 19 months, it will be the country’s only underground museum, and boast of state-of-the-art virtual reality exhibitions. A small section of the museum was opened a year ago. The completed museum will open to visitors on October 2.

“We tried to re-create the history and capture some of the important events. We showcase the gifts received by Presidents over the years and also the daily life in (the) Rashtrapati Bhavan, among other things,” said Omita Paul, the President’s secretary.

Rashtrapati Bhavan’s story-telling museum in pictures

The new museum, built under the supervision of museologist Saroj Ghose, will showcase more than 2,000 artifacts in a sprawling 1.30 lakh sq.ft space. It will also exhibit, for the first time, rare paintings of the British era.

President Pranab Mukherjee and Prime Minister Narendra Modi will inaugurate the museum on Monday, as Mukherjee completes four years in office.

“Unlike other Indian museums, where unconnected artifacts are displayed, this will be an event-based storytelling museum,” said Ghose.

Visitors can book a tour through the Rashtrapati Bhavan website.

Here are the 10 key things to know about the new jewel in Delhi’s crown:

The replica of a horse-drawn carriage at the Rashtrapati Bhavan museum. (Raj K Raj / HT Photo)

1. Gandhi walk: Stand in a room and see Mahatma Gandhi talking to Lord Irwin on screen. And then, when he walks out of the Rashtrapati Bhavan — then Viceroy’s House — you can join him in virtual reality. Feel free to click pictures, wave hands and do a namaskar.

2. Hand shadow show: If you want to know how a President is elected, all you need to do is watch this hand shadow show with a running commentary. It will tell you about the election process, the Parliament building, the Rashtrapati Bhavan, Indian villages and the Pillars of Ashoka only through the movement of hands.

3. The Study of the President: A replica of the room where the President meets the visitors in his office.

4. Privalite projection: It appears to be a simple, see-through glass. But when the projector beams a live video, it becomes a TV telecasting daily news. Viewers can go behind the screen and continue to watch the show.

5. Meet the President: Never met the country’s first citizen? No worries. Go to this small cubicle and press a button. On the large screen, a photo will appear where the visitor and the President will be talking to each other.

A view of the Rashtrapati Bhavan museum. (Raj K Raj/ HT Photo )

6. Personal belongings: The museum showcases, in separate windows, personal belongings of all 13 Presidents, giving a glimpse of their choice of clothes, habits and lifestyle.

7. Live speech in 3d holographic projection: A special square-shaped box beams 3D holographic images to accompany, one after another, speeches of Indian Presidents. Stand anywhere and see them delivering their speeches, as if in real life.

8.Gifts counter: A floor full of exotic gifts that Presidents received from different parts of the world is a key attraction.

9.Interactive digital platform: See rare photographs of the President’s house and the freedom movement. The pieces of history will be lying on a table. Twist them, turn them and visit the past.

10. President’s vehicles: An old presidential buggy drawn by a life-size horse. Near it, one can find a merc gifted to late prime minister the Rajiv Gandhi by King of Jordan. Gandhi handed over the car to the Rashtrapati Bhavan toshakhana.

Saubhadra Chatterji, Hindustan Times, New Delhi|