Monday, November 13, 2017

CSI User Guide in Tamil

CSI User Guide in Tamil - A very useful material

Click below link to download the user guide on CSI in Tamil Language.
In case of any query or corrections in this CSI material please contact nirmalprakash86@gmail.com
Created by S Nirmal Prakash System Administrator, Salem West Division

Letter addressed to Shri Arun Jaitley by Sri Shashi Tharoor,MP for early implementation of GDS committee recommendations

Letter addressed to Shri Arun Jaitley by Sri Shashi Tharoor,MP for early implementation of GDS committee recommendations
NUGDS General Secretary Sri.P.U.Muraleedharan with FNPO KERALA CIRCLE leaders submitting memorandum addressed to Hon.Finance Minister through Dr.Shashi Tharoor, Hon.MP Trivandrum. On behalf of MP Shri.M S Jyothish PS to MP accepting the Memorandum.

Cadre Restructuring of Group 'C' employees in Department of Posts

Cadre Restructuring of Group 'C' employees in Department of Posts : DoP Order Dated 10.11.2017.

The posts of System Administrator, Marketing Executive, DO(PLI) etc, are not cadre specific posts. Therefore, any suitable official can be deployed against these posts.






Letter on Network problems

Have small savings lost out to equities?

Analysts say the growth in government savings schemes is tepid because there has been a clear shift toward equities.

MUMBAI: Small savings options, which banks had blamed for poor monetary transmission, appear to be slowly but surely losing sheen as lower yields and a booming stock market wean away savers from the traditional interest-bearing instruments.

Until September 30 this fiscal, the National Small Savings Fund ( NSSF), an aggregate of savings through government plans such as post office, public provident fund (PPF) and kisan vikas patras, collected Rs 54,404 crore, down 11% from Rs 61,059 crore gathered in the same period last year.
Analysts say the growth in government savings schemes is tepid because there has been a clear shift toward equities.
“Also, last year there was a bonanza from the Seventh Pay Commission and interest rates in these schemes were also higher. That differential has now come down. The amount of inflows the equity markets are seeing every month is a testimony to the shift away from small savings,” said Saugata Bhattacharya, chief economist at Axis Bank.

Monthly inflows into mutual funds though the systematic investment plans alone have tripled in the last one-and-half years to Rs6,000 crore in October from Rs 2,000 crore in March 2015. So far in FY18, retail inflows into mutual funds increased to Rs 1.51 lakh crore from Rs 45,000 crore last year, with the benchmark stock index gaining 12.20%.

Meanwhile, the government reduced the PPF rate to below 8% for the first time in 40 years this fiscal. The current rate on the PPF scheme, the only tax-free small savings option now, stands at 7.8%.

If the trend continues, the collection in the NSSF will be lower than the budgeted Rs1lakh crore this year, which means the government may be forced to borrow more through bonds. To be sure, the jury is still out on the potential shortfall.

“There are still six months to go for the fiscal and it is likely that the small savings investments will pick up later in the year. I don’t think we can still say that the government will have to increase its borrowing this fiscal,” said A Prasanna, chief economist at ICICI Securities Primary Dealership.

Source : The Economic Times

Request for fixation of my pay under FR 22(1)(a)(i) for officiating LSG Post. - Model representation

Click below link to download the model representation in Word format with edit option.


RBI Circular : Banking Facility for Senior Citizen and Differently abled persons

RBI Circular : Banking Facility for Senior Citizen and Differently abled persons

Finance & Accounts (F&A) User Manual (CSI)

Core System Integration (CSI)
Module : Finance & Accounts (F&A)
(in SAP Logon)

Prepared by Mumbai GPO

Important Tips :

Ø  CSI System will get locked if the user enter wrong password for three Times.
Ø  In CSI System DELETE is not allowed.

To Login in SAP for working in F&A Cash & Bank Module :
  • Double-click SAP Logon list item / icon.
  • Double-click ECP list item.
  • Enter User ID and Password
  • Enter

SIGNS in SAP

Signs Description / Action
Right Tickmark Continue / Enter
Cross Mark Close / Cancel
Floppy Disk Image Save / Post / Park
Spects / Pencil Image Edit
Dustbin Image Delete
Blank Page Image New
Back Arrow << Back
Up Arrow ^ Exit
Overlapping Pages Search

Function Keys

Function Key Description
F1 Help
F4 Search
F5 Refresh
F8 Execute
F9 Simulate
F12 Cancel

 Fields and Data to be entered / selected (New Terminology in CSI) :

Field Selection
Company Code DOPI (for Department of Post India)
FM Area DOPI (for Department of Post India)
Currency INR (Indian Rupees)
Business Place Select Circle e.g. Maharashtra Circle – BP16
Profit Center 10 digit Code for Office e.g. 2422510000 for Mumbai GPO
Cost Center 10 digit Code for Office e.g. 2422510000 for Mumbai GPO
Fund Centre 10 digit Code for Office e.g. 2422510000 for Mumbai GPO
Facility ID 13 digit Employee / Administration related Code for Office
Plant ID 4 digit Codes (for Procurement Process) F371 for MGPO
G/L Code 10 digit General Ledger Code / Account Head Code
(Previously it is 15 digit code. E.g. starts with 3201 exp, 1201 income)
(Now it is 10 digit code. E.g. starts with 3 exp, 1 income)
G/L Account General Ledger Account / Account Heads (more than 11000 available)
4867100010 for DOP Cash
4867100011 for POS Cash
4867100000 for Cash in Transit
4867100030 for ATM Cash

Download

Postal Life Insurance - PLI

Understanding rules for PPF withdrawals, loans and premature closure

The Public Provident Fund's (PPF) USP is its EEE tax status, i.e., at the time of investment, interest earned during the investment period, and the maturity proceeds are not taxable in the hands of the investor. 

However, the scheme does come with a long lock-in period of 15 years. Did you know that you can have liquidity in the form of loans and withdrawals from your PPF account? Before you rush to get a loan or withdraw from your PPF, you know that this facility is subject to certain conditions. 

Rules for taking a loan from a PPF account 

A subscriber is eligible to take a loan from PPF account from the third financial year but this facility is available only till the end of the sixth financial year. What this means is that if the account was opened during the financial year, say 2014-15, then you are eligible to get a loan from the financial year 2016-17 (April 1, 2016) and until 2019-20 (March 31, 2020). 

Do keep in mind that you cannot use the entire balance in the PPF to avail of the loan. The loan amount is capped at a maximum of 25 per cent of the balance available at the close of two years immediately preceding the year in which the loan is being applied for. 
Say, you apply for the loan any day during the FY 2017 -18 then you will be eligible for the 25 per cent of the balance in your account as on March 31, 2016. The balance will be the closing inclusive of interest credited to your account on March 31. 

Similarly, if you want to apply for a loan in the next financial year (2018-19), then the amount will be calculated on 25 per cent of the balance as on March 31, 2017. 

Interest rate charged on the loan taken from the PPF account is two per cent higher than the prevailing interest rate set by the government. If you visit your PPF branch today to apply for a loan, then the interest rate charged on the loan will be 9.8 per cent (2% + Interest rate for the quarter ending December 2017). 

Also, as the government announces the interest rate for every quarter, the interest rate charged on the loan, too, will vary accordingly. 

However, once the interest rate is set for the loan then the same rate will be applicable until the repayment period. 

Here are a few conditions you should know of once the loan is approved. 

*You will not be eligible for a new loan until the old loan has been paid off along with interest. 

*The loan taken from PPF has to be returned within 36 months. 

*The tenure of 36 months is calculated from the first day of the following month in which the loan is sanctioned. For example, if the loan was sanctioned on any day of July, then the tenure of 36 months of the loan starts from August. 

*In case the loan is not repaid within 36 months, then the applicable interest rate would be 6 per cent from the date the loan was sanctioned till the loan has been repaid. 

*In case the loan is not repaid within 36 months, then the applicable interest rate would be 6 per cent from the date the loan was sanctioned till the loan has been repaid. 

*In case any interest or part of it remains due but the principal is repaid, then the outstanding interest will be debited from the subscriber's account if it remains unpaid during the tenure of loan, i.e., 36 months. 

*The repayment of principal amount of must be done either as a lump-sum or in two or more monthly instalments. 

*Once the principal amount is paid, then only can you pay the interest on the loan amount. 

*You cannot make the repayment of interest in more than two monthly instalments. 

*Once the repayment of principal of loan starts, you can check the amount credited into your PPF account. However, the interest paid on the loan is accrued to the government. 
Read more at:

Rules of withdrawal from PPF 

You can withdraw from your PPF starting from the seventh year. So, if you go back to our above-mentioned example, for an account that was opened in 2014-15, the withdrawal facility will start from the April 1, 2020. 

There are limits on the amount of money that you can withdraw from the account. 

As per the PPF scheme rules, a person can withdraw lower of the following: 

a) 50 per cent of the balance available at the end of fourth year immediately preceding the year of withdrawal; or 

b) 50 per cent of the balance stood at the end of the preceding year 

For instance, if your PPF account was opened during the financial year 2011-12 and if you visit the branch any day during FY2017-18 to apply for a loan, then the amount you are eligible calculated as:
If there is any loan taken by the subscriber earlier which remains unpaid at the time of withdrawal, then it will be subtracted from the withdrawal amount he/she is eligible for. Further, this facility is available only once a year. 

Premature closure of PPF account 

As per earlier rules, a PPF account could not be closed before maturity of 15 years. However, the government, by amending the Public Provident Fund Act in 2016,has allowed premature closure if either of these conditions are met: 

a) The account must have completed five financial years and, 
b) The amount is required for the treatment of serious ailments or life-threatening disease of the account holder, spouse, dependent children or parents, or, 
c) For higher education of account holder or in case of a minor account holder. 

The subscriber will have to produce supporting documents as required. 

However, there is a catch. You will not get the full amount as shown in your account. As per the amended rules, if a person wishes to use the premature withdrawal facility, he or she will be subjected to one percent less interest rate from the interest rate as applicable to him in case he or she has not opted for the facility. 

This can be explained as follows for an account opened in the financial year 2011-12: 

From the above table it is clear that since you have opted for the premature withdrawal facility, the interest applicable for your deposits have been reduced by 1 per cent (from 8.60% to 7.60% in FY 2011-12 and so on). 

Had you not exercised the option of premature closure the balance shown in your account for the FY 2016-17 would be as: 
Source:-The Economic Times