Monday, November 28, 2016

LDCE : PS Gr 'B' Examination Material compiled by Sri C C Chaluvaraya Assistant Manager (ASP) CEPT Mysore

Patch deployed for Wedding and Farming expenses limit in DOP Finacle

Patch intended for Withdrawal limits in respect of Wedding and Farming ( Farmers) , is deployed and configurations are completed

Instructions to be communicated regarding the wedding expenses withdrawal are given below for circulation as directed:

  • For wedding expenses, the Government has allowed withdrawal limit as Rs.250000-. Patch for the same is being deployed in Finacle.
  • As per RBI guidelines / DoP rulings, the officials should check all the relevant documents and obtain the declarations from the customer requesting for withdrawal from their POSB account in connection with wedding expenses.
  • The following conditions are mandatory for withdrawal in respect of wedding expenses:
  • KYC documents should have been submitted for the account; PAN card should have been updated. These checks are done on the CIF of account holder..
  • The maximum withdrawal allowed is Rs.250000 or the closing balance of the account as on 08/11/2016, whichever is lesser and subject to the minimum balance limits applicable on the account. ( Rs.50 for non-cheque accounts and Rs.500 for cheque accounts)
User has to select / enter the report code as WEDLM against transaction report code field in CTM / HTM menu for such transactions.​​
SBCO is advised to monitor the high value withdrawals at all the POs under their control. Report on such transactions can be generated using HFTR / HFTI menu with the Report Code field filled as WEDLM, on daily basis.

Payment of Dearness Allowance to Gramin Dak Sevaks (GDS) at revised rates w.e.f. 01.07.2016

Payment of Dearness Allowance to Gramin Dak Sevaks (GDS) at revised rates w.e.f. 01.07.2016 onwards

To view please Click Here

Search for higher rates ends at post offices, govt bonds

MUMBAI: Investors are rushing to lock money into post office deposits and a government bond, which are yet to cut interest rates even as banks lower deposit rates.A bank deposit now pays a maximum of 7%, while post office deposits pay 7.8% and the government bond pays 8%. 

"There is a rush amongst investors to lock into longer-tenure products and where there is no announcement of rate cuts so far," said Vikram Dalal, managing director, Synergee Capital. 

For retirees and other investors living on interest income from deposits, financial advisors said, the government savings bonds, which have a tenure of six years for small investors, make sense. 

"There is no reinvestment risk as you can lock in at a rate as high as 8% for 6 years. It works well for those whose income is not subject to tax or who are in the marginal tax bracket," said Dalal. The minimum investments amount is Rs 1,000 and there is no ceiling on the upper limit. The bonds are issued in physical form. 

"The only drawback of this product is that it is illiquid since they are not traded and cannot be encashed in an emergency.However, investors can opt to take a loan on this product, says Anup Bhaiya, MD, Money Honey Financial Services.

Interest rates on bank fixed deposits fell post demonetisation. Banks like SBI, ICICI Bank,HDFC Bank, Kotak Bank have all cut fixed deposit rates by 15-25 basis points (100 basis points is equivalent to 1%). 

Post the rate cuts, a five year fixed de posit fixed de posit from State bank of Indiafetches 6.5%, while HDFC Bank gives 6.75%. Taking a cue from banks, finance companies too have lowered deposit rates. HDFC now offers 7.65% for a five-year deposit, while Gruh Finance is offering 7.5%. 

"The banking system is flush with liquidity and there are not enough avenues to deploy money .Given this and expected rate cuts, fixed deposit rates could head even lower in the coming months," says Shankar S, financial planner at Credo Capital. 

Source : The Economic Times



Case Status Status : PENDING
Status of : Special Leave Petition (Civil) 21803 OF 2014



Likely to be Listed on : 13/01/2016

Source :

Coaching Class for Postman Examination at Madurai, TN Circle

Coaching Class for Postman Examination at Madurai, TN Circle

Government may reward tax payers

Government may reward tax payers

Demonetisation windfall: Government may reward tax payers:

Sources hint at tax breaks in Budget 2017-18
With demonetisation raising revenues for the government, Budget for 2017-18 may see an increase in income tax exemption limit for individual tax payers. It may also see a reduction in income tax rates.

“The monetary gains will be utilised for infrastructure development, but a part of it will also be used to spur demand in the economy and one way will be to give tax breaks to bonafide tax payers,” a top official said.

It may even be a Rs 5 lakh flat tax exemption for individual tax payers, and not other income tax rebates. The other possibility is that the government will increase the exemption from the current Rs 2.5 lakh, to Rs 3.5 lakh, and let some of the deductions continue. At present, Rs 2.5-5 lakh income is taxed at 10%, Rs 5-10 lakh at 20%, and above Rs 10 lakh at 30%. The government is currently working on various possibilities, and it will take sometime to zero-in on one, according to different sources in the government.

In case, the exemption is Rs 5 lakh, the income tax rates applicable could be 10% between Rs 5 lakh and Rs 10 lakh annual income, 20% between Rs 10 lakh and Rs 20 lakh income, and 30% on income over Rs 20 lakh, according to an official, who did not wish to be identified.

The industry too has demanded a cut in income tax rates, and a steep increase in exemptions in the wake of a windfall gain to the government after the demonetisation drive. Industry has also sought a cut in maximum tax rate of 30% on individual income to 25%.

Finance Minister Arun Jaitley had recently said that demonetisation will not only bring back the unaccounted wealth into the economic system, it will also pave way for tax relief to honest tax payers by bringing the rates down.

At present, there are various income tax exemptions for individual tax payers and the salaried class. These include house rent allowance exemption for the salaried class, income tax exemption on leave travel allowance, and exemption on encashment of leave. Transport allowance and children education allowance are also allowed income tax exemption for salaried employees up to a certain limit.

Regarding Cheque Truncated system(CTS), Handling Procedure and its advantages

Cheque Truncation System (CTS) :

CTS was pioneered by the Reserve Bank of India – RBI, for faster clearing of cheques. It involves sending an electronic image of the cheque together with its Magnetic Ink Character Recognition (MICR) data, and other relevant fields like date of presentation, presenting bank’s name, etc. This procedure would eliminate the need for physical transfer of cheques across branches, except in certain cases.

How will CTS impact you, the account holder ?

CTS will be implemented from 1st Aug, 2013; hence, you have to ensure that cheque books are CTS compliant, else you won’t be able to use them.

Don’t forget to ensure that all cheques paid by you as advance EMI’s of loans will have to be replaced with CTS compliant cheques. Although this may be a one-time tedious exercise, there are manifold advantages in adopting this system, such as:
  • As the cheques would be cleared electronically, there is no fear of loss of cheque in transit.
  • Faster clearing leading to faster credit of funds to your account.
  • CTS compliant cheques being more secure, there are lesser chances of fraud.
  • As the system progresses and geographical restrictions are overcome, even multi-city cheques could be cleared on the same day.
To install the hardware and for this purpose the vendor may be contracted at the following address: (West Bengal Circle)

For installation of hardware:-
M/s Bard Roy Infotech(P) Ltd
10/4 B, Elgin Road ,1st floor
Phone no:- 09674311319
If the cheque scanner has already been installed ,contact with the vendor of the following address for installation of software after furnishing required information to the vendor. (West Bengal Circle)

For installation of software:-
M/s Vsoft Technologies P. Ltd
My Home Hub Block-1 , 4th floor ,
Madanpur , Hyderabad-500081
(Sayandeb pal -9830066855)
****After that contact with V-soft CRM for implementation of CTS ( creation of edesk user ID & password , forticlent etc.)

Vineela P
Customer Relationship Manager

In this connection the following instructions should be scrupulously followed by all the offices:
  1. Try to avoid receipt of NON-CTS cheques from the customers and the agents, because these NON-CTS cheques are being cleared only once in a fortnight.
  2. In no circumstances any mutilated, torn, overwritten, indistinct impression cheque should be collected from the customer in the counter as this will subject to rejection.
Vison Panini Device driver and related software's has been uploaded in Filezilla Software , file path is given bellow : 
/CBSDM/incoming/Production/SELUKAS/CTS MIDNAPORE (Cheque Truncation System)
ARIJIT CHOWDHURY Postal Assistant Midnapore Head Post Office WEST MIDNAPORE -721101 Contact No- 9851472373 e-mail ID -

Solution for the RD bulk list error in DOP Finacle - Calculated default/rebate fee is not matching with actual default/rebate

Generally in DOP for preparation of agent RD bulk lists we will login to agent login in the India post website and after preparation system will generate the reference number.

Agent list can be prepared in 3 modes they are
  1. Through Cash
  2. Through DOP cheque
  3. Through Non DOP cheque.
  • When the RD bulk list is prepared using cash the reference will start with the letter 'C'
  • When the RD bulk list is prepared using DOP Cheque the reference will start with the letter 'DC'
  • When the RD bulk list is prepared using Non DOP Cheque the reference will start with the letter 'NDC'
  • After preparation of RD bulk list agent will submit to the counter PA, Then the counter PA should accept the list and post using the menu HAGTXP.
  • After posting in the counter PA login system will generate the report in HPR. All the users are requested to check the HPR for agent list posting before proceeding for verification.
  • For sometimes system will show the error Calculated default/rebate fee is not matching with actual default/rebate in DOP Finacle in the HPR report.
  • Alternatively we can check the status of the list using the menu HAGTXP and select the functions as Inquire and then check for the failure reason in the field transaction status.
  • The reasons for the above error and the solution is mentioned in the below procedure.
The error screen shot will be as shown in the below figure
From the above screen shot it is clear that system is showing the above error as mentioned while trying to post the agent list using the menu HAGTXP in DOP Finacle.

Root cause of the above problem : - 

  • The above problem will occur when there is mismatch in default fee or rebate which means that agent might prepared before due date and came for posting to post office after due date then there will be mismatch in default fee/rebate.
  • Generally in order to check the due date and pending transactions in the RD account we will use the menu HPLIST in DOP Finacle.
  • For detailed step by step procedure to use HPLIST users can CLICK HERE

Solution for the above Problem :- 

For example in our example details of Agent:
Agent ID: MIG0029921
Date: 04-12-14
Reference no: C1693566 for Rs 3939/-Note: This customer prepared list for November and December month 2014. One list (ref no: C1693714) posted with correct default fee
  • Installment for November (ref no: C1693714) i.e. 22-11-2014 has been paid on 12-12-2014 for which default fee of Rs.5/- has been collected already. User is now trying to pay the installment for December month with default fee where there is no default fee. Hence the specified error is coming at the time of HAGTXP.Please prepare a fresh list for all the specified accounts and proceed for payments.
  • If the list is prepared before due and the respective agent submitted after due date in the counter then the system will throw the above mentioned error.
  • Only solution for this case to prepare fresh list and accept again.

Important Points to Remember :- 

  • Always advise the agents to prepare the lists well in advance before due and also intimate them to submit in counter before due date only in order to avoid the above mentioned problem.
  • If the list is prepared through cheque mode then always advise the agents not to use the same cheque number for multiple lists.
  • Only we should use cheque number for a single lists, if we want for multiple lists then use difference cheque numbers.
  • Also if the agent want to include same account number in multiple lists then advise the agent to submit the first list in counter for posting and then advise to prepare second list to include that same account number and so on.
  • In simple after posting the first list only agent should prepare second list and so on if the agent want to include same account number in multiple lists.

Schedule of Examination for GDS to MTS Examination - West Bengal Circle

Schedule of Examination for GDS to MTS Examination West Bengal Circle.

Schedule of Examination

Issue of Notification 07.11.2016
Last Date for Receipt of Application at Divisional Office 23.11.2016
Last Date for Sending Copy  of Permitted List of Candidates to Circle Office 28.11-2016
Issue of Admit Cards to Permitted Candidates 30.11.2016
Targeted Date for Communication of list of Candidates with Roll No to the Supervising Officer 02.12.2016
Date of Examination 18.12.2016
Timing of Examination 10 AM to 12 Noon

Goa will be First State to go Cashless from December 31, 2016


  • While cash transactions are not being banned, the move is to encourage a cashless society. 
  • People will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile.
PANAJI: Goa is likely to become the first state in India to go cashless from December 31, as people will be able to buy perishables such as fish, meat, vegetables or anything else at the press of a button on their mobile. 

There will be no need to carry your purse for purchases and the profession of pickpocketers may become extinct soon, as all transactions will be done on the mobile. "The money on purchases will be debited to the person's bank account," chief secretary R K Srivastava told STOI. 

One has to dial *99# from their mobile phone, not necessarily a smart phone, and follow the instructions to complete the transcation. This system is being introduced to transfer money to small vendors who do not have swipe machines. Swiping of ATM and credit cards at shops and establishments will also continue. 

A drive to create awareness on how to operate the cashless transaction for vendors and small shops and the public will commence on Monday at Mapusa and Panaji, in Goa. 

While cash transactions are not being banned, the move is to encourage a cashless society. Also, there will be no minimum limit on the cashless transfer of money. Chief minister Laxmikant Parsekar said no fees will be charged for any of these transactions over the mobile. 

Defence minister Manohar Parrikar on Saturday held a meeting with government officials and all the major nationalized and private banks. During the meeting, Parrikar discussed the modalities to implement the cashless scheme in the state. 

Parrikar said at the Vijay Sankalp Rally at Sankhali on Friday that PM Narendra Modi had a dream about a cashless society and "they told me that Goa can become the first state to go cashless".

"One thing we decided is that whenever India becomes a cashless society, Goa will become the first. We have to support the prime minister's dream," Parrikar added saying that your mobile can become your bank and one can do anything once he/she has registered her/his mobile number with the bank under the central government unified payment interference (UPI).

Srivastava said that Goa has an added advantage to be become the first cashless society because it is a small state with about 15 lakh population and 17 lakh mobile phone connections. "We have 22 lakh bank accounts, which means that one person has more than one account," he said. Most of the people in Goa use debit or credit cards while purchasing and hence it will not be a problem to go cashless, he added.

He also said that from Monday, people will be educated on the cashless transaction and the exact plan would be finalized on Sunday. Explaining how it works, Srivastava said that every vendor who registers with the bank would be given an MMID code.

Once a person purchases fish, vegetable etc. the customer just needs to dial the designated number (*99#) and punch in details of her/his account and the amount the customer needs to transfer to the vendor and then the customer has to enter the MI code of the vendor to transfer the funds. Within no time, the money would be transferred from the customer's account to the vendor's account.

"Everybody should have an account, card and the account should have money," Srivastava said.

Source :