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RAJYA SABHA Q&A regarding Post Bank of India & Task force Recommendations on PBI

GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
DEPARTMENT OF POSTS     

RAJYA SABHA
UNSTARRED QUESTION NO.163
                                        TO BE ANSWERED ON 24TH APRIL, 2015

POSTAL BANKS


163. DR. PRADEEP KUMAR BALMUCHU:

Will the Minister of COMMUNICATIONS AND INFORMATION TECHNOLOGY be pleased to state:

(a)       whether it is a fact that Government is urging the Department of Posts to come up with opening of Postal Banks in the country, if so, the details thereof;

(b)       whether the Subramanian Committee, to which the matter had been referred, has submitted its report and has made recommendations in this regard; and

(c)        if so, the details thereof?
ANSWER

THE MINISTER OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(SHRI RAVI SHANKAR PRASAD)

(a)       Sir, the Department of Posts has submitted an application to Reserve Bank of India on 30.1.2015 seeking license for setting up Post Bank of India under the rubric of “Payments Bank”. The Government is committed to increasing access of the people to the formal financial system and in this context, Government proposes to utilize the vast Postal network with nearly 1, 54,000 points of presence spread across the villages of the country.  The Government hopes that the Postal Department will make its proposed Payments Bank venture successful so that it contributes further to the Pradhan Mantri Jan Dhan Yojana. The details of the proposed Post Bank would be finalized once the Reserve Bank of India takes a favourable decision on application submitted by Department of Posts. In the recent budget speech also the Finance Minister has appreciatingly talked about Post Bank.
           
(b) & (c )         The Task Force on Leveraging the Post Office Network under the Chairmanship of retired Cabinet Secretary Shri. T.S.R.Subramanian,  has submitted its report during November-2014. The said task force has recommended for setting up Post Bank of India. The details of the recommendations are reproduced in theAnnexure- ‘A’ enclosed herewith.



Annexure-A

Recommendations of Task Force on Leveraging Post Office Network with respect to Setting up of Post Bank of India:-

(i)   The proposal is not to convert the PO Network into a Bank, but to set up a fully professional new Bank to further financial inclusion and meet the objectives of the Pradhan Mantri Jan Dhan Yojna, which specifically provides for the extension of credit to all Indians resident in every part of India, particularly in rural areas.
(ii)  This opportunity for achieving universal financial inclusion via technology and the institutional reach of the PO Network must not be lost. There is admittedly a risk involved, as there is in any new venture into uncharted waters. The risk involved can and must be managed in the interests of the overall larger national objectives.


(iii) The PBI must be professionally managed and operated, with credit and other risks being handled by experienced experts hired from the market. In its own interest, its operations must be fully in line and compliant with RBI Guidelines.


(iv)  A new institution, to be called the Post Bank of India or by some other suitable name, should be set up as a commercial bank offering the full spectrum of financial and banking services.


(v)  As the owner of the proposed PBI, the Government of India may take decisions as appropriate on structural and organizational issues and other details, including the funding requirements.


(vi)  The Task Force is of the view that the PBI should be set up under an Act of Parliament and that establishing the PBI as a statutory institution and a Government Bank would enhance its credibility, insulate it from local pulls and greatly facilitate its operations.


(vii) It is essential to structure the proposed PBI in such a manner as to pre-empt the possibility of outside interests influencing its day-to-day operations.


(viii) The Task Force also recommends that the PBI should initially be set up as a Public Sector Bank wholly owned by the Government of India.


(ix) The initial capital requirement, estimated at Rs. 500 crores as per RBI requirements would be fully funded by the Government.


(x) After the Bank establishes itself in 3 to 5 years, the Board of Directors could take a view on floating an IPO to raise fresh capital.


(xi)  The PBI will focus on fulfilling the Government’s mandate of financial inclusion and on bringing the un-banked and under-banked segments of the population, particularly in rural, semi-rural and remote areas within the ambit of the formal monetized economy.


(xii)  A view needs to be taken on how best to seamlessly integrate the earlier banking operations into the proposed new structure, The best and seamless method would be to fully absorb the POSB in the new proposed Bank (PBI).


(xiii) The PBI will offer services including credit, which are beyond the remit of the POSB.


(xiv) The PBI will develop financial products and services which are specially tailored to the needs of the rural and urban unbanked population, if necessary in collaboration with other banks.


(xv)  The PBI will function as a commercially viable and self-sustaining entity without the need for continuing Government subsidies.


(xvi) After the Initial gestation period, it should generate its own resources and sustain itself in the competitive market environment.


(xvii) The PBI should price its services on a cost plus basis and revise these rates from time to time, so that its operations do not become a continuing and increasing burden on the Government exchequer.


(xviii) The PBI will start with a Head Office Main Branch and will thereafter expand its operations by opening Branch offices in the Metro towns and State capitals, to be manned by banking professionals.


(xix) The longer term objectives would be to establish a Branch Office of the PBI in each District Headquarter over a 3 to 5 year period, to be operated mostly by banking professionals.


(xx) The 150,000-plus Departmental and Branch POs will act as Banking Correspondents for the PBI.


(xxi) Careful consideration should be given to the various types, elements and levels of risk involved in the PBI’s operations.


(xxii) Robust System Protocols and Standard Operating Procedures should be put in place to manage these risks effectively.


(xxiii) The PBI should recruit/commission the services of banking experts to manage its credit, portfolio and market risks.


(xxiv) Appropriate management capabilities should be mobilized from the market and robust systems and processes should be put in place to ensure that Non-Performing Assets are kept within acceptable limits.


(xxv) It is neither necessary nor desirable to mandate a waiting period before the PBI enters into credit and lending operations.


(xxvi) The PBI should be constituted and begin working as a credit and lending Bank immediately, without any trial/waiting/learning period.


(xxvii) The PBI should be set up as an independent Statutory and corporate entity offering the full bouquet services, including credit, to its customers.


(xxviii) The PBI will primarily target currently unbanked and under-banked customers in rural, semi-rural and remote areas, with a focus on providing small and affordable loans and simple deposit products.


(xxix) Customers will be provided with full-fledged Savings Accounts, which can be retained even with zero balances, as provided for in the PMJDY.


(xxx) Credit risks will be managed by hiring professionals from the banking sector and by developing and implementing robust protocols for building checks and balances in the system. Market and robust systems and processes should be put in place to ensure that Non-Performing Assets are kept within acceptable limits.   

Postal JCA (NFPE & FNPO) indefinite strike from 6th May 2015

Postal JCA (NFPE & FNPO) indefinite strike from 6th May 2015

The demand of  NJCM, Confederation, Postal JCA & even the Department's letter to MoF on reconsideration for
‘ inclusion of GDS in the purview of 7th CPC’ 
rejected by MoF.

Department of Posts Proposed to constitute a separate committee for GDS.

With this again we are going to face the dark age of another span of 10 years.
****
WE ARE OPPOSING 
SEPARATE COMMITTEE FOR GDS

***

WE ARE DEMANDING 
INCLUSION OF GDS IN 7thCPC

***

just few days ahead for our battle

***

our GDS demand is justified

we are struggling for the right cause of GDS

***

intensify the mobilization of rank and file to make the indefinite strike by Postal JCA a historic success

***

Besides --

Government and Postal board are totally negative and insensitive towards the demands of five lakhs Postal and RMS employees including Gramin Dak Sewaks and Casual, Part-Time Contingent employees.

EVERY DEMAND IS EITHER 
REJECTED OR INDEFINITELY DELAYED
Inclusion of Gramin Dak Sewaks under 7thCentral Pay Commission and grant of civil servant status
Rejected. Government decided to appoint separate committee.
Casual Labour regularistaion
No progress
Cadre restructuring of Postal, RMS, MMS, Admin, Postal Accounts employees
Long pending in the Directorate. No improvement.
Merger of DA with Pay
Rejected by Government
Grant of Interim Relief
Rejected by Government
Date of effect of 7th CPC from 01.01.2014
Government not ready to give any direction to 7thCPC.
Scrap New Pension Scheme.
Rejected by Government
Remove 5% ceiling for compassionate appointments
Government not ready to remove the condition.
GDS Medical reimbursement scheme
Pending for last six years
MACP anomalies including promotees case
Rejected inspite of several CAT/Court Judgment
Postmaster Cadre related issues including permission to write IP/PS Group ‘B’ exam and parity with LSG, HSG-II regarding service length for promotion.
Still pending. Attitude of the Department is totally negative.
System Administration case
Rejected. Not ready to consider the demands on its merits.
RTP service regularization
Rejected. Inspite of CAT orders not ready to issue general order
SBCO related issues
Rejected on flimsy grounds.
Postmen related issues
No progress
Parity in cash handling allowance
Rejected.
Counting of Accountants special Allowance for pay fixation on promotion
Rejected.
Computer and Technology related several issues
No progress. Situation worsening day by day. Employees are suffering. Public agitated
Harassment of staff on account of CBS & CIS
Still continuing
Allotment of funds for sanctioning all pending Medical, TA, OTA and RPLI/PLI incentives
No progress. Bills pending for months together
Overtime allowance revision
Pending for 27years
Circle processing centers (CPO) of PLI/RPLI at CO/ROs and stop redeployment of posts
Rejected
Sunday, Holiday compulsory working
Still continuing in certain circles
Office Building and staff quarters cases
No progress. Situation worsening. Staff are suffering
MNOP related issues
Suggestion of staff side rejected
Quality of uniforms, Chapplas and kit-items
No improvement
Chennai Postal Accounts victimization
Still pending
Stop Postmen/MTS open market outside recruitment
Still pending. No progress
Filling up of all vacant posts including canteen employees
Slow progress
Creation of justified new posts
Total Ban imposed on creation of new posts
Prompt convening of Monthly meeting, Bi-monthly/four monthly meetings, JCM Regional Council meeting, JCM Departmental Council meeting, Formal meeting with Secretary (Posts)
Periodicity is not maintained. In many divisions. Circles no meeting is held for months together
Prompt holding of Departmental promotion committees (CPCs)
No progress


Let us fight for the right cause of GDS   … unitedly …. To erase the ambiguity over GDS by the Dept & Govt.

PHOTOS OF PARLIAMENT MARCH BY N JCA 28.04.2015

PRESS STATEMENT

            We send herewith a copy of the resolution adopted by the massive rally of the Central Government employees held today 28.4.2015 at Jantar Mantar. New Delhi declaring that if no settlement is brought about  on the ten points charter of demands, the Central Government employees in all the De-departments of the Government of India will go on indefinite strike action from 23.11.2015.

            The rally was held under the chairmanship of Shri M. Raghavaiah, General Secretary, National Federation of Indian Railwaymen.  Shri Shiv Gopal Mishra convenor of the NJCA conducted the proceedings.   The resolution was moved by Com. K.K.N. Kutty, President, Confederation of Central Government employees and workers, New Delhi.  Besides, the Chairman and Convenor of the NJCA, the other who spoke at the rally include S/Shri Rakal Dasgupta, President, All India Railwaymen Federation, Guman Singh and Bhatnagar of the National Federation of Indian Railwaymen, Shri M. Krishnan, Secretary General, Confederation of Central Government employees and workers, R.N. Parashar, Secretary General, National Federation of Postal Employees, Shri D. Theagarjan, Federation of National Postal organisations, Shri Sreekumar and Pahak of All India Defence Employees Federation, Srinivasan of the Indian National Defence Workers Federation, Harbhajan Singh Sidhu, General Secretary, HMS and many others. It was decided that the Railway and Defence Federation will take the strike ballot in the month of October, 2015.  More than a lakh of workers participated in the rally.  The copies of the resolution were handed over to the honourable Speaker, Lok Sabha and the Honourable Prime Minister by a delegation of the National Joint Council of Action

            We shall be grateful for favour of coverage of the decision in your esteemed daily/Newspaper /weekly.

            Thanking you,

Yours faithfully,

Shiv Gopal Mishra
Convenor

NATIONAL JOINT COUNCIL OF ACTION OF CENTRAL GOVERNMENT EMPLOYEES
4, STATE ENTRY ROAD,
NEW DELHI

RESOLUTION ADOPTED AT THE MASSIVE RALLY AT JANTAR MANTAR (PARLIAMENT STREET) ON 28 APRIL 2015

The massive congregation of the representatives of Central Govt Employees who have come from various parts of the country held at Jantar Mantar before the Indian Parliament on 28-04-2015 decided to commence the indefinite strike action from 23rd November 2015 from 6 AM having failed to elicit any positive response from the Government in settlement of the 10 point Charter of Demands submitted months back. It was also decided that the Railways and Defence organizations will conduct the strike Ballot as per the provision of the Industrial Disputes Act and Recognition Rules before commencing the strike from 23-11-2015.

The massive gathering adopted the resolution unanimously exhorting the central Govt. Employees to prepare for the eventual strike action in all earnestness and make it a historic one.

The meeting congratulates the employees for forging exemplary unity and carrying out various programmes chalked out by the National Joint Council of Action (NJCA) after the national convention on 11th December 2014. Even though the Govt. was compelled to set up the 7th CPC on account of the sanctions generated through the action programmes, Govt. has refused to grant Interim Relief and merger of DA and excluded the Gramin Dak Sewaks of the Postal Department from the ambit of the 7th CPC.

It is a matter of regret that in spite of public admission of non-privatisation of Indian Railways by Prime Minister of India and assurance of Minister of Railways on various occasions, including Parliament, Dr. Deb Roy Committee had submitted a report which is a clear roadmap for privatisation of IR. 

The meeting noted that the Government has purposely ensured the closure of Joint Consultative   
Machinery, the negotiating forum set up in 1966 for Central Government Employees to discuss and bring about settlement of their demands.

The meeting chaired by Secretary (Personnel) on 25th February 2015  did not bring about settlement on any single issue of the Charter of Demands.

The meeting unanimously decided to demand before the Government to convene the meeting of National Council, JCM immediately and settle the following charter of demands, if at all it wants to avoid confrontation with its own employees.

CHARTER OF DEMANDS:

1.    Effect wage revision of the Central Government Employees from 01.01.2014, accepting the memorandum of the Staff Side JCM; ensure 5-year wage revision in future; grant Interim Relief and Merger of 100% of DA. Ensure submission of the 7th CPC report within the stipulated time frame of 18 months; include the Grameen Dak Sewaks within the ambit of the 7th CPC.  Settle all anomalies of the 6th CPC.

2.    No privatisation, PPP or FDI in Railways and Defence Establishments and no corporatisation of postal services.

3.    No Ban on recruitment/creation of post.

4.    Scrap PFRDA Act and re-introduce the defined benefit statutory pension scheme.

5.    No outsourcing; contractorisation, privatisation of governmental  functions; withdraw the proposed move to close down the Printing Presses; the publication, form store and stationery departments and Medical Stores Depots; regularise the existing daily rated/casual and contract workers and absorption of trained apprentices.

6.  Revive the JCM functioning at all levels as an effective negotiating forum for settlement of the demands of the CGEs.

7.    Remove the arbitrary ceiling on compassionate appointments.

8.    No labour reforms which are inimical to the interest of the workers.

9.    Remove the ceiling on payment of Bonus.

10. Ensure five promotions in the service career.


The meeting authorized the National JCA to take appropriate and necessary steps needed to make the indefinite strike beginning from 23rd November 2015 an unprecedented and grand success.

                                                                                                       (Shiva Gopal Mishra) 
                                                                                                                    Convenor


28.04.2015                                                                          National Joint Council of Action















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