India Post Payment Bank to open 650 branches this year

India Post Payment Bank to open 650 branches this year

Hyderabad, April 24: 

India Post Payment Bank (IPPB) is planning mega expansion to open 650 branches this year.

The first two branches of IPPB have been opened in January 2017 in Ranchi and Raipur.

``We intend to open at least one branch per district across the country. Each branch will be networked with about 1200 to 1500 post offices in a district,’’ B V Sudhakar, Secretary, Department of Posts, Government of India told newspersons at a press conference here on Monday.

When asked whether such a ramp was possible in a short span of time, the official said: ``Technology will allow us to do so.’’

There are 978 standalone ATMs for the Department now. The payment bank is also expected to install more ATMs with tie-ups with other banks. ``By December 2017, we will integrate core system software including core banking, postal operations and savings bank which will also help us,'' he added.

The focus of the payment bank will be on door-step banking, a survey conducted by the department showed `huge’ potential for door-step banking.

It will primarily focus on three products of financial inclusion, direct benefit transfer and door step banking.

The department will also be recruiting 55,000 Gramin Dak Savekas in rural areas out of which the process for filling up of 14,406 vacancies has already commenced.

SPEED POST

The department is also ramping up its focus on speed post as a premium product for revenue generation. ``Speed post facility will be made available in all branch post offices across the country by end of April,’’ Sudhakar said.

The revenue from speed post services had gone up from Rs 1605 crore during 2015-16 to Rs 1740 crore in 2016-17.

PASSPORT

Post office passport seva kendras will also be opened in all 811 head post offices across the country in country by March 2018. As of now, the service is available in 42 post offices across India.

The issue of passports in post offices have commenced in January 2017. So far 31,500 passports have been issued.

``Apart from convenience to people, issue of passports could bring us (projected) revenue of Rs 750 crore,’’ Sudhakar said.

REVENUE

India Post is also expecting to bridge the gap between revenue and expenditure in next two years with a slew of initiatives being taken. For year 2015-16, it reported a revenue of Rs 13,000 crore and an expenditure of Rs 19,000 crore.

Source : http://www.thehindubusinessline.com

7th Pay Commission – Final report on allowances in next few days, maximum HRA likely to be Rs 60,000

Post 7th Pay Commission recommendations’ implementation, the new basic pay is Rs 2.5 lakh, for which the HRA would be Rs 60,000, meaning a hike of 122 perce

New Delhi: The Narendra Modi government is likely to bring some good news for over 47 lakh central government employees and 53 lakh pensioners by making a formal announcement on the revised structure for allowances under the Seventh Pay Commission in next few days.

As per media reports, the committee on allowances will submit its final report on Thursday (April 27), when the Finance Minister Arun Jaitley returns to the country after his visit to US and Russia.

The allowances form a sizeable amount of the salary drawn by a government employee.

The committee on allowances headed by Finance Secretary Ashok Lavasa that was set up to review the recommendations of the Seventh Pay Commission is understood to have finalised its report.

The 7th Pay Commission had earlier proposed the rate of House Rent Allowance (HRA) at 24 percent, 16 percent and 8 percent of the Basic Pay for Class X, Y and Z cities respectively.

The Commission had also recommended that the rate of HRA will be revised to 27 percent, 18 percent and 9 percent when DA crosses 50 percent, and further revised to 30 percent, 20 percent and 10 percent when DA crosses 100 percent.

The existing rates of HRA for Class X, Y and Z cities and towns are 30 percent, 20 percent and 10 percent of Basic pay (pay in the pay band plus grade pay). 

Population of City			DA above
	Present	Proposed	50%	100%
Above 50 lakh (Class X)	30%	24%	27%	30%
5 lakh to 50 lakh (Class Y)	20%	16%	18%	20%
Below 5 lakh (Class Z)	10%	8%	9%	10%

Assumingly, if the Committee accepts the bare recommendations of A K Mathur-led 7th Pay Commission then the HRA component of central government employees will increase ranging between 106 percent and 122 percent.

Take, for instance, a central government employee at the very bottom of the pay scale, where the basic pay (pay of pay band + grade pay) is now Rs 7,000, would currently be entitled to an HRA of Rs 2,100 in a Class X city. As per 7th Pay Commission, the new entry level pay at this level is Rs 18,000 per month against which the new HRA for a Class X city would be Rs 4,320 per month, that is 106 percent more than the existing level.

Similarly, at the highest level of the pay scale, the Cabinet Secretary and officers of the same rank have a basic pay of Rs 90,000, which means they are entitled to current HRA of Rs 27,000 in Class X towns. After the revised pay scale, the new basic pay is Rs 2.5 lakh, for which the HRA would be Rs 60,000, meaning a hike of 122 percent. 

Existing Basic Pay (6th CPC)	HRA (6th CPC)			Proposed Entry Pay as per 7th CPC	Proposed HRA as per 7th CPC
	Class X	Class  Y	Class Z		Class X	Class Y	Class Z
7000	2100	1400	700	18000	4320	2880	1440
13500	4050	2700	1350	35400	8496	5664	2832
21000	6300	4200	2100	56100	13464	8976	4488
46100	13830	9220	4610	118500	28440	18960	9480
90000	27000	18000	9000	250000	60000	40000	20000

 As far as Transport Allowance (TA) is concerned, Pay Commission had proposed no increase.

EMPLOYMENT NEWS IN INDIA LATEST BY 25-04-2017

EMPLOYMENT NEWS IN INDIA LATEST BY 25-04-2017 Company Location Position Eligibility Last Date National Brain Research Centre, NBRC (01) Gurgaon Research Associate (Project) Ph.D, 10-05-2017 National Institute of Biomedical Genomics, NIBMG (23) Kalyani Project Manager, Data Analyst, Phlebotomist and more Post Graduate, Ph.D, B.E./B.Tech., ME/M.Tech, MCA, M.Sc, B.Sc, M.Com, B.Com, M.Sc, Diploma, 30-04-2017 Ministry of Drinking Water and Sanitation (-) New Delhi Hindi Translator - 02-05-2017 Konkan Railway Corporation Limited, KRCL (34) Navi Mumbai Senior Section Engineers B.E./B.Tech., 22-05-2017 Hindustan Newsprint Limited(02) Kottayam Company Trainees Chartered Accountant (CA), 28-04-2017 Centre for Development of Advanced Computing, C-DAC (- ) Pune Registrar - 19-05-2017 NSIC Technical Services Centre(- ) New Delhi Guest Faculties B.E./B.Tech., Graduate, Diploma, faculty_jobs, - ICAR - National Research Institute on Meat (10) Hyderabad Asstt. Administrative Officer, Asstt. , UDC, LDC and more - 10-05-2017 Indian Association for the Cultivation of Science, IACS(01) Kolkata Research Associate-II Ph.D, 19-05-2017 Indian Institute of Technology (IIT) Guwahati (01) Guwahati Project Fellow/JPO B.E./B.Tech., 17-05-2017 (Walk in Interview) Container Corporation of India Limited (CONCOR) (-) New Delhi Director (Project & Services) B.E./B.Tech., 22-05-2017 Railtel Corporation of India Limited (02) Gurgaon GM and Addl. GM (Finance/ HR) - 01-05-2017 Indian Institute of Technology (IIT) Guwahati (02) Guwahati­ Assistant Project Engineer and Project Technician B.E./B.Tech., Diploma, 27-04-2017 (Walk-in-interview) NSCI Technical Services Centre(-) New Delhi Guest Faculties MCA, BCA, - National Payments Corporation of India, NPCI (- ) Chennai Manager/ Dm - IT Networks - - Airline Allied Services Limited(21) New Delhi Co-Pilot (P2) 12th, 11-01-2018 IRCON International Limited(01) New Delhi Safety Health Environmental Director Post Graduate, PG Diploma, ME/M.Tech, B.E./B.Tech., 04-05-2017 (Walk in interview) HAL Gnanajyoti School (17) Bangalore Vice Principal, PRT, Physical Edn. Instructor, Lower Division Clerk and more Master of Arts (M.A), M.Sc, B.Ed/ M.Ed, BCA, B.Com, B.Sc, Graduate, 10th, 04-05-2017 Bank of India (01) Raigad Counselor (FLCC, Raigad) Graduate, Post Graduate, 30-04-2017 HAL Public School (07) bangalore Vice - Principal, PRT, TGT, Asstt. Art & Craft Teacher and Jr Office Asstt. Master of Arts (M.A), M.Sc, B.Ed/ M.Ed, Diploma, Bachelor of Arts (B.A), B.Com, 03-05-2017 Telecom Regulatory Authority of India, TRAI (01) New Delhi Member - 17-05-2017 Hindustan Newsprint Limited, HNL (03) Kottayam Company Trainees B.Com, 25-04-2017 National Payments Corporation of India, NPCI (-) Chennai Sr Manager - Selenium - - Hindustan Newsprint Limited, HNL (-) Kottayam Trainee MBA, 27-04-2017 Indian Institute of Technology (IIT) Mandi (03) Mandi Medical Officer, Staff Nurse and Jr. Lab Asstt. MBBS, Doctoral Degree, PG Diploma, 10th, Diploma, 12th, 05-05-2017 Pawan Hans Limited (-) Noida Helicopter Pilots - - National Payments Corporation of India, NPCI (- ) Chennai Sr Manager - Project ME/M.Tech, M.Sc, MCA, - Broadcast Engineering Consultant India Limited, BECIL(09) Noida Technical Project Manager, Software Architect, Hardware Architect and more B.E./B.Tech., Diploma, 25-04-2017 Electronics Corporation of India Limited, ECIL (09) Across India Technical Officer, Scientific Asst and Jr. Artisan B.E./B.Tech., Diploma, ITI, 06-05-2017 (Walk in Interview) HAL New Public School (03) Bangalore PRT Teachers Bachelor of Arts (B.A), B.Ed/ M.Ed, B.Sc, 03-05-2017 Indian Oil Corporation Limited, IOCL (07) Chirang Jr. Nursing Asstt. and Jr. Quality Control Analyst M.Sc, B.Sc, Diploma, 09-05-2017 Government of West Bengal (-) Birbhum Block Level Assistant Accountant - 03-05-2017 Indian Institute of Technology (IIT) Mandi (01) Mandi Project Engineer (JRF) B.E./B.Tech., ME/M.Tech, 05-04-2017 (Walk in Interview) Sree Chitra Tirunal Institute for Medical Sciences & Technology, SCTIMST (01) Thiruvananthapuram Senior Research Fellow M.Sc, 25-04-2017 (Walk in Interview) Bank of India (670) Across India Officers (Credit) and Managers MBA, PG Diploma, Post Graduate, M.Com, M.Sc, Chartered Accountant (CA), 05-05-2017

Company	Location	Position	Eligibility	Last Date
National Highways Authority of India, NHAI (01)	Thiruvananthapuram	Retired Revenue Officer	-	24-04-2017
Indian Army (56)	New Delhi	Short Service Commissioned Officer	Doctoral Degree, Medical ,	15-05-2017
Municipal Service Commission(01)	Kolkata	Data Processor	Graduate, Diploma,	10-05-2017
Indian Institute of Technology (IIT) Mandi (01)	mandi	Project Engineer (JRF)	ME/M.Tech,	25-04-2017
Sree Chitra Tirunal Institute For Medical Sciences & Technology, SCTIMST (01)	Thiruvananthapuram	Project Assistant (Clerical)	B.Com, M.Com,	27-01-2017 (Walk in Interview)
Visva-Bharati (03)	Santiniketan	Research Associate and SRF	Post Graduate, Ph.D, Graduate, M.Sc,	within 15 days
Burdwan Development Authority(16)	Burdwan	Asstt. Engineer, Asstt. Town Planner, Sub-Asstt. Engineer and more	B.E./B.Tech., Diploma, 12th,	10-05-2017
Hindustan Aeronautics Limited, HAL (01)	Koraput	Consultant (General Medicine)	MBBS, Doctoral Degree,	03-05-2017
Punjab National Bank (45)	New Delhi	Manager (Security)	Graduate,	06-05-2017
Indian Institute of Technology (IIT) Mandi (01)	Mandi	Project Associate (JRF)	B.E./B.Tech., M.Sc,	29-04-2017
Indian Farmers Fertiliser Cooperative Limited, IFFCO (- )	Across India	Accounts Personnel	Chartered Accountant (CA),	21-04-2017
Indian Institute Of Technology (IIT) Bombay (04)	Mumbai	Technical Superintendents	Diploma, B.E./B.Tech., M.Sc,	28-04-2017 & 30-04-2017 (Walk in Selection)
IRCON International Limited (- )	New Delhi	Company Secretary	-	02-05-2017 (Walk in Interview)
Sree Chitra Tirunal Institute For Medical Sciences & Technology, SCTIMST (01)	Thiruvananthapuram	Project Scientist	M.Sc,	24-04-2017 Walk in Interview
Indian Farmers Fertiliser Cooperative Limited, IFFCO (-)	Across India	Graduate Engineer Apprenticeship	B.E./B.Tech.,	21-04-2017
Central Reserve Police Force, CRPF (-)	Across India	Clinical Psychologist	PG Diploma, Medical ,	28-04-2017 (Walk-in-interview)
Bank of India (01)	Bokaro	FLCC Counselor	Graduate, Post Graduate,	30-04-2017
University of Hyderabad (41)	Hyderabad	Professors, Asso. Prof. and Asstt. Prof.	Ph.D, Doctoral Degree,	19-05-2017
Southern Railway (14)	Chennai	Staff Nurses	B.Sc, Medical ,	05-05-2017
Sree Chitra Tirunal Institute For Medical Sciences & Technology, SCTIMST (01)	Thiruvananthapuram	Project Scientist	M.Sc,	24-04-2017 (Walk-in-interview)
Indian Institute of Technology (IIT) Mandi (-)	Kamand	Project Associate (JRF)	M.Sc,	22-04-2017 (Walk-in-interview)
Indian Farmers Fertiliser Cooperative Limited, IFFCO (-)	Across India	Agriculture Graduate Trainees (AGTs)	B.Sc, M.Sc,	21-04-2017
Municipal Service Commission(15)	Howrah	Sub-Asstt. Engineers and Asstt. Engineer	Diploma, B.E./B.Tech.,	10-05-2017
National Institute of Technology (NIT) Karnataka (01)	Surathkal	Junior Research Fellow	ME/M.Tech,	12-05-2017
National Institute Of Technology (NIT) Jalandhar (15)	Jalandhar	Registrar, Assistant Registrars, Audit Officer and more	Post Graduate, Chartered Accountant (CA), Diploma, B.E./B.Tech., Ph.D, MBBS, Doctoral Degree, M.Sc, MCA,	19-05-2017
Arunachal Pradesh Public Service Commssion (09)	Across Arunachal Pradesh	Extension Officer and Economic Investigator	Diploma, Bachelor of Arts (B.A), B.Sc, B.Com,	09-05-2017
Kolkata Port Trust (01)	Kolkata	General Manager (Engineering)	B.E./B.Tech.,	10-05-2017
Visakhapatnam Port Trust (01)	Visakhapatnam	Sr. Dy. Secretary	Post Graduate, PG Diploma,	11-05-2017
Dena Bank (300)	Mumbai	Probationary Officer in Junior Management	Graduate,	09-05-2017
National Institute of Technology (NIT) Meghalaya (02)	Shillong	Project Associate (SRF)	ME/M.Tech,	09-05-2017
Regional Centre for Biotechnology, RCB (-)	Gurgaon	Project - Junior Research Fellow	M.Sc,	28-04-2017
Indian Institute of Technology Bombay (02)	Mumbai	Technical Superintendents	B.E./B.Tech., M.Sc, Diploma,	22-04-2017
IRCON International Limited (02)	New Delhi	Chief Finance Officers	Chartered Accountant (CA),	01-05-2017 (Walk-in-interview)
Sainik School Rewari (03)	Rewari	Master (Maths), Lab Asstt and LDC	Post Graduate, B.Ed/ M.Ed, 10th,	22-04-2017
Indian Institute of Technology Bombay (02)	Mumbai	Chief Security Officer and Deputy Registrar	Graduate, Post Graduate,	21-04-2017
Himachal Pradesh Public Service Commission, HPPSC(48)	Across Himachal Pradesh	Asstt. Professors, Veterinary Officers and more	B.E./B.Tech., ME/M.Tech, Graduate, Medical , Ph.D, Post Graduate, PG Diploma,	25-04-2017
National Seeds Corporation Limited (178)	New Delhi	Asstt. (Legal) and Management/ Diploma/Sr. Trainees	BL/LLB, MBA, M.Sc, B.E./B.Tech., Post Graduate, PG Diploma, Chartered Accountant (CA), B.Sc, Diploma, ITI, BBA, BCA, Bachelor of Arts (B.A), Graduate, B.Com,	06-05-2017
Tripura Public Service Commission, TPSC (01)	Agartala	Principal (Degree), RIPSAT	Post Graduate, Doctoral Degree, Ph.D,	25-04-2017
Indian Association for the Cultivation of Science, IACS(20)	Kolkata	Scientist, Research Associates and JRFs	Ph.D, M.Sc,	-
Bangalore Metro Rail Corporation Limited, BMRC (60)	Bangalore	Exe. Engineers, Asst. Exe. Engineers and Asstt. Engineers	B.E./B.Tech., Diploma,	02-05-2017
Public Enterprises Selection Board, PESB (-)	Across India	Directors (HR/Personnel & Finance)	Post Graduate, PG Diploma, MBA, Chartered Accountant (CA),	05-05-2017
National Institute of Technology (NIT) Meghalaya (01)	Shillong	Junior Research Fellow	ME/M.Tech,	30-04-2017
Visakhapatnam Port (-)	New Delhi	Copy Writer	Post Graduate,	21-04-2017
Konkan Railway Corporation Limited (37)	Navi Mumbai	Junior Engineers (Civil/ Electrical)	Diploma,	12-05-2017
Goa Shipyard Limited (149)	Vasco-Da-Gama	Assistant Superintendents, Civil Assistant, Trainees and more	Graduate, Post Graduate, PG Diploma, BL/LLB, MBA, Diploma,	25-05-2017
Indira Gandhi National Centre for the Arts, IGNCA (02)	New Delhi	Project Assistants	Post Graduate,	20-04-2017 (Walk-in-interview)
Regional Centre for Biotechnology (-)	Faridabad	Project-Junior Research Fellow	M.Sc, Post Graduate,	19-04-2017 (walk-in-interview)
Kochi Metro Rail (01)	Across India	Jt. General Manager (Civil)	B.E./B.Tech.,	30-04-2017
Sports Authority of India (-)	Across India	Consultant & Young Professionals	B.E./B.Tech., MBA,	within 15 days