Wednesday, May 02, 2018

Provision of members for the Transfer and Placemnet committee for making recommendations of AE(Civil/Electrician) and Assistant Architect

Promotion of members for the transfer and placement committee for making recommendations of AE and architect
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Draft revised Seniority List between the Direct Recruit Officers of 2006 to 2011 batch

Draft revised Seniority List between the Direct Recruit Officers of 2006 to 2011 batch and promotee officers in Junior Time Scale of the Indian Postal Service, Group 'A' in accordance with rotation of vacancy

To view Dte letter no 4-23/2013-SPG dated 02.05.2018 , please Click here

Clarification on Children Education Allowances - DOP


GDS COMMITTEE CURRENT POSITION DATED 02.05.2018

AIGDSU came to know that GDS committee report issue has not been included in the agenda of Today’s Cabinet meeting. Hence AIGDSU decided to go on indefinite strike demanding immediate implementation of GDS Committee report. Indefinite strike notice will be served to the Department of posts tomorrow after consultation with other union.

New Customer and Contract Creation in SAP - CSI


DA From July 2018 – 2% Or 3% Increase Expected

DA from July 2018 – 2% or 3% increase Expected – Estimated DA with effect from July 2018 will be 9% or 10% – Suggestion based on actual Consumer Price Index for 9 months and estimated CPI for 3 months

Central Government Employees including Railway Employees, Defence Personnel and all Central Services and Defence Pensioners are paid dearness allowance at the rate of 7% with effect from January 2018.

We have attempted to estimate DA from July 2018 in this article.

New DA Calculator for calculating Dearness Allowance payable on 7th CPC Basic Pay:
Dearness Allowance payable with effect from 7th CPC Basic Pay= (Avg of CPI-IW for the past 12 months – Average of CPI-IW recorded in 2015)*100/(Average of CPI-IW recorded in 2015)
Taking in to account, the revised DA Calculation Formula we have now come up with a new 7th Pay Commission DA Calculator.

DA from 1st July 2018:

We need AICPI (IW) (All India Consumer Price Index (Industrial Workers) for the months from July 2017 to June 2018 to determine Dearness Allowance with effect from July 2018. Actual Consumer Price Index for the months from July 2017 to March 2018 which are already available are tabulated as follows.
MonthActual AICPI-IW
July-2017285
Aug-2017285
Sep-2017285
Oct-2017287
Nov-2017288
Dec-2017286
Jan-2018288
Feb-2018288
Mar-2018287
Apr-2018To be released
May-2018To be released
Jun-2018To be released
With actual CPI for the months from July 2017 to March 2018 and estimated CPI from April 2018 to June 2018, we have to determine DA from July 2018.

Expected DA from July 2018 : Estimation : 1

DA with effect from 1st July 2016= [ (285+285+285+287+288+286+288+288+287+287+287+287)/12]-(261.4)X100/261.4
= 9 % (increase of 2% from the present DA of 7%)
A conservative estimation of keeping CPI as 287 from April 2018 to June 2018, which was recorded in the month of March 2018 gives us an increase of 2% in DA from July 2018.

Expected DA from July 2018 : Estimation : 2

We need at least 2 point increase in consumer price index in all the three months from April 2018 to June 2018, to get 3% increase in DA with effect from July 2018
DA with effect from 1st July 2016= [ (285+285+285+287+288+286+288+288+287+289+291+293)/12]-(261.4)X100/261.4
= 10 % (increase of 3% from the present DA of 7%)
Considering the previous Trend in Consumer Price Index, Chances for Estimation 1 is higher than Estimation 2 as CPI should increase 2 points each in all the coming months in the case of later.

On the lower side, 1% increase in DA is possible only if 3 point decrease in consumer price index for the month from April 2018 and May 2018 followed by 4 point decrease in the month of June 2018. Decrease in CPI to such an exteent is not possible considering the inflationary trend due rise in fuel prices.

Post Office Fixed Deposit or Post Office Recurring Deposit? Which one is the better investment option for you

Are you one of those who keeps planning to save money by means of various options but unable to find out which scheme is the best suited for you?
 The Department of Posts or India Post gives both fixed deposits and recurring deposits and terms. (PTI)

Are you one of those who keeps planning to save money by means of various options but unable to find out which scheme is the best suited for you? The best way to get wealth is to start investing in good options. Investment amount can be little but investing for long-term can be the key to better returns. For individuals who are skeptic about investing in the share market, fixed income options such as recurring deposits (RDs) and fixed deposits (FDs) might be the right step ahead.

The Department of Posts or India Post gives both fixed deposits and recurring deposits and terms. According to its official website indiapost.gov.in, India Post offers nine saving schemes which include FDs and RDs.

Here are the key features, interest rates and the maximum/minimum amount required for a post office fixed deposit or recurring deposit:
Post Office Recurring Deposit Account (RD) features:-

5-Year Post Office Recurring Deposit Account (RD):

1- An RD account can be opened by cheque or cash.

2- The RD account is transferable and can be transferred from one post office to another.

3- Any number of RD accounts can be in any post office.

4- A RD account can be opened in the name of a minor. The subscriber should be 10-year-old or above to open and operate the account.

5- RD account can also be opened jointly by two adults.


If the account is opened on or before 15th of a month then the subsequent deposit can be made up to 15th of next month. Meanwhile, if the account has been opened between 16th and last working day of the month then the deposit can be made up to last working date of next month.

If the deposit is not made before the last date then a default fee is charged for each default. Default fee at Rs 0.05 for every Rs 5 will be charged. Notably, the account will be discontinued after four regular defaults and can be revived in two months.

Interestingly, there is a refund of advance deposit of at least six installments. A single RD account can be converted into joint and vice-versa. A subscriber can withdraw up to 50 percent of the balance after one year of the opening of the account.

Interest rate:
Starting January 1, 2018, interest rate is 6.9 percent per annum (quarterly compounded). On maturity, Rs. 10 account fetches Rs. 717.43. The RD account can be continued for another five years on a year-to-year basis.

Minimum Amount for the opening of post office recurring deposit account:

The minimum amount of Rs 10 per month and above in multiple of Rs 5 is required to open an RD. There is no maximum limit for RD.
Post Office Time Deposit (TD) Account or Fixed Deposit (FD) Account:

The features of FD accounts are similar to that of RD accounts. However, it is the interest rate and the minimum amount that differs.


Interest rates:

Interest rates from January 1, 2018, for Post office FD accounts, are:

Period Rate:
Period Rate
1-year A/c 6.6%
2-year A/c 6.7%
3-year A/c 6.9%
5-year A/c 7.4%

Minimum amount required for the opening of post office FD account:

Subscribers need to deposit a minimum of Rs 200 to open an account. However, there is no maximum balance that can be retained.