Income Tax Rates Assessment Year 2018-19,2019-20

Income Tax Rates Assessment Year 2018-19,2019-20

Tax Rates

1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person

Taxable income	Tax Rate
Up to Rs. 2,50,000	Nil
Rs. 2,50,000 to Rs. 5,00,000	5%
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Less: Rebate under Section 87A [see Note]
Add: Surcharge and Education Cess [see Note]

Assessment Year 2019-20

Taxable Income	Tax Rate
Up to Rs. 2,50,000	Nil
Rs. 2,50,000 to Rs 5,00,000	5%
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Less: Rebate under Section 87A [see Note]
Add: Health and Education Cess [see Note]

2. In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)

Assessment Year 2018-19

Taxable income	Tax Rate
Up to Rs. 3,00,000	Nil
Rs. 3,00,000 – Rs. 5,00,000	5%
Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Less: Rebate under Section 87A [see Note]
Add: Surcharge and Education Cess [see Note]

Assessment Year 2019-20

Taxable Income	Tax Rate
Up to Rs. 3,00,000	Nil
Rs. 3,00,000 to Rs 5,00,000	5%
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Less: Rebate under Section 87A [see Note]
Add: Health and Education Cess [see Note]

3. In case of a resident super senior citizen (who is 80 years or more at any time during the previous year)

Assessment Year 2018-19

Taxable income	Tax Rate
Up to Rs. 5,00,000	Nil
Rs. 5,00,000 – Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Add: Surcharge and Education Cess [see Note]

Assessment Year 2019-20

Taxable Income	Tax Rate
Up to Rs. 5,00,000	Nil
Rs. 5,00,000 to Rs. 10,00,000	20%
Above Rs. 10,00,000	30%

Add: Surcharge and Education Cess [see Note]

Assessment Year 2018-19

a) Surcharge:

i) The amount of income-tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds fifty lakh rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees).

ii) The amount of income-tax shall be increased by a surcharge at the rate of 15% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

b) Education Cess:The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.

c) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.

d) Rebate under Section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 3,50,000. The amount of rebate shall be 100% of income-tax or Rs. 2,500, whichever is less.

Assessment Year 2019-20

a) Surcharge:

i) The amount of income-tax shall be increased by a surcharge at the rate of 10% of such tax, where total income exceeds fifty lakh rupees but does not exceed one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds fifty lakh rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees).

ii) The amount of income-tax shall be increased by a surcharge at the rate of 15% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

b) Health and Education Cess:

The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge.

c) Rebate under Section 87A:

The rebate is available to a resident individual if his total income does not exceed Rs. 3, 50,000. The amount of rebate shall be 100% of income-tax or Rs. 2,500, whichever is less.

4. Partnership Firm

I. For the Assessment Year 2018-19, a partnership firm (including LLP) is taxable at 30%.

Add:

a) Surcharge:

The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

b) Education Cess:

The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.

c) Secondary and Higher Education Cess:

The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.

II. For the Assessment Year 2019-20, a partnership firm (including LLP) is taxable at 30%.

Add:

a) Surcharge:

The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

b) Health and Education Cess:

The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge

5. Local Authority

I. For the Assessment Year 2018-19, a local authority is taxable at 30%. Add:

d) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

e) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.

f) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.

II. For the Assessment Year 2019-20, a local authority is taxable at 30%. Add:

a) Surcharge:

The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

b) Health and Education Cess:

The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge.

6. Domestic Company

I. For the Assessment Year 2018-19, a domestic company is taxable at 30%. However, tax rate would be 25% where turnover or gross receipt of the company does not exceed Rs. 50 crore in the previous year 2015-16.

Add:

a) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 7% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 12% of such tax, where total income exceeds ten crore rupees. However, the surcharge shall be subject to marginal relief, which shall be as under:

(i) Where income exceeds one crore rupees but not exceeding ten crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

(ii) Where income exceeds ten crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of ten crore rupees by more than the amount of income that exceeds ten crore rupees.

b) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.

c) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.

II. For the assessment year 2019-20, a domestic company is taxable at 30%. However, the tax rate would be 25% if turnover or gross receipt of the company does not exceed Rs. 250 crore in the previous year 2016-17.

Add:

a) Surcharge:The amount of income-tax shall be increased by a surcharge at the rate of 7% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 12% of such tax, where total income exceeds ten crore rupees. However, the surcharge shall be subject to marginal relief, which shall be as under:

(i) Where income exceeds one crore rupees but not exceeding ten crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

(ii) Where income exceeds ten crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of ten crore rupees by more than the amount of income that exceeds ten crore rupees.

b) Health and Education Cess:The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge.

7. Foreign Company

Assessment Year 2018-19 and Assessment Year 2019-20

Nature of Income	Tax Rate
Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government	50%
Any other income	40%

Add:

a) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 2% of such tax, where total income exceeds one crore rupees but not exceeding ten crore rupees and at the rate of 5% of such tax, where total income exceeds ten crore rupees. However, the surcharge shall be subject to marginal relief, which shall be as under:

(i) Where income exceeds one crore rupees but not exceeding ten crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees.

(ii) Where income exceeds ten crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of ten crore rupees by more than the amount of income that exceeds ten crore rupees.

For Assessment Year 2018-19

b) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.

c) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.

For Assessment Year 2019-20

Health and Education Cess:The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge.

8. Co-operative Society

Assessment Year 2018-19 and Assessment Year 2019-20

Taxable income	Tax Rate
Up to Rs. 10,000	10%
Rs. 10,000 to Rs. 20,000	20%
Above Rs. 20,000	30%

Add:

a) Surcharge: The amount of income-tax shall be increased by a surcharge at the rate of 12% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (where income exceeds one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

For Assessment Year 2019-20

b) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.

c) Secondary and Higher Education Cess:The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.

For Assessment Year 2019-20

Health and Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of four percent of such income-tax and surcharge.

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Postal Life Insurance; All You Need To Know

Did you know that post offices also offer life insurance policies? Known as the Postal Life Insurance or PLI, its eligibility was earlier restricted but the rules were recently changed to maintain a competitive edge in par with the other insurance providers of the country.

View photos

What is Postal Life Insurance?

PLI works like any other life insurance service provider, the only difference being that it is run by the Indian postal department.

Additionally, the only offer traditional insurance policies and not term insurance or ULIPs. It was started in 1884 for the benefit of postal employees.

Apart from single insurance policies, Postal Life Insurance also manages a Group Insurance scheme for the Extra Departmental Employees (Gramin Dak Sevaks) of the Department of Posts.

There are presently 6 types of postal life insurance policies:

2. Santosh (Endowment Assurance)

In this scheme, the proponent is given an assurance to the extent of the sum assured and accrued bonus till he/she attains the pre-determined age of maturity, that is, 35, 40, 45, 50, 55, 58 and 60 years of age.

In case of death of the insured, the nominee or legal heir is paid the full amount of sum assured with an accrued bonus. Here too, the minimum and maximum ages at entry are 19 years and 55 years, respectively.

The minimum sum assured is Rs 20,000, while maximum being Rs 50 lakh. Loan facility shall be available after 4 years and the policy can be surrendered after 3 years.

3. Suvidha (Convertible Whole Life Assurance)

It is a Whole Life Assurance Policy with an option to convert to Endowment Assurance Policy at the end of five years of opting for the policy. Assurance is given to the extent of sum assured with accrued bonus till attainment of maturity age.

In case of death, the assignee, nominee or legal heir will be paid the full amount of sum assured with an accrued bonus. The minimum and maximum ages at entry are 19 years and 55 years, respectively.

The minimum sum assured is Rs 20,000, while maximum being Rs 50 lakh. Loan facility shall be available after 4 years and the policy can be surrendered after 3 years.

4. Sumangal (Anticipated Endowment Assurance)

This Money Back Policy comes with a maximum sum assured of Rs 50 lakh and is best suited to those who need periodical returns.

Survival benefits are paid to the insured periodically. These benefits will not be taken into consideration in the event of the unexpected death of the insured, but, full sum assured with accrued bonus is payable to the assignee, nominee or the legal heir. The policy terms are 15 and 20 years.

The minimum age at entry is 19 years, while the maximum age is 40 years for 20 years' term policy and 45 years for 15 years' term policy.

Survival benefits paid periodically as under:

15 years Policy- 20% each on completion of 6 years, 9 years and 12 years and 40% with an accrued bonus on maturity

20 years Policy- 20% each on completion of 8 years, 12 years and 16 years and 40% with an accrued bonus on maturity

5. Yugal Suraksha (Joint Life Assurance)

This is a Joint Life Endowment Assurance in which one of the spouses should be eligible for PLI policies. Also, a life cover to both spouses to the extent of sum assured with accrued bonus will be provided.

The minimum and maximum ages at the entry for spouses are 21 years and 45 years, respectively. The minimum sum assured is Rs 20,000, while maximum being Rs 50 lakh.

Maximum age of the elder policyholder should not be more than 45 years and the couple should be between 21 years to 45 years. Loan facility shall be available after 3 years. Death benefits will be paid to either of the survivors in the event of the death of the spouse or main policy holder.

6. Bal Jeevan Bima (Children Policy)

The scheme provides life insurance coverage to children (maximum of 2) of policyholders. Children between the ages of 5 and 20 years are eligible. Maximum sum assured will be Rs 3 lakh or equal to the sum assured of the parent, whichever is less. Policyholder (parent) should not be over 45 years of age.

Note that no premium will be paid on the Children Policy, on the death of the policyholder (parent). The complete sum assured and bonus accrued shall be paid on completion of the term.

Eligibility for Postal Life Insurance

Employees of the following Organizations are eligible.

• Central Government
• Defence Services
• Para-Military forces
• State Government
• Local Bodies
• Government-aided Educational Institutions
• Reserve Bank of India
• Public Sector Undertakings
• Financial Institutions
• Nationalized Banks
• Autonomous Bodies
• Extra Departmental Agents in Department of Posts
• Employees Engaged/ Appointed on Contract basis by central/ State Government where the contract is extendable
• Employees of all scheduled Commercial Banks
• Employees of Credit Co-operative Societies and other Co-operative Societies registered with Government under the Co-operative Societies Act and partly or fully funded from the Central/ State Government/RBI/ SBI/ Nationalized Banks/ NABARD and other such institutions notified by Government
• Employees of deemed Universities an educational institutes accredited by recognized bodies such a National Assessment and Accreditation council, All India Council of Technical Education, Medical council of India etc.
• Employees (teaching/non-teaching staff) of all private educational institutions/schools/colleges etc. affiliated to recognized Boards (recognized by Centre/State Government) of Secondary/Senior Secondary education i.e. CBSE, ICSE, State Boards, Open School, etc.
• Professionals such as Doctors (including Doctors pursuing Post Graduate degree courses through any Govt/Private Hospitals, Residents Doctors employed on contract/permanent basis in any Govt/Private Hospitals etc), Engineers (including Engineers pursuing Master's/Post Graduate degree after having passed GATE entrance test), Management Consultants, Charted Accountants registered with Institute of Charted Accountants of India, Architects, Lawyers registered with Bar Council of India/States, Bankers working in Nationalised Banks and its Associate Banks, Foreign Banks, Regional Rural Banks, Scheduled Commercial Banks including Private Sector Banks etc.
• Employees of listed companies of NSE (National Stock Exchange) and Bombay Stock Exchange (BSE) in IT, Banking & Finance, Healthcare/Pharma, Energy/Power, Telecom, Infrastructure Sector etc, where employees are covered for Provident Fund/Gratuity and/or their leave records are maintained by the establishment.

As for the Rural Postal Life Insurance (RPLI), all persons, male or female, who permanently reside in rural areas and are ordinarily residents in India to the exclusion of foreigners and non-resident Indians are eligible for the scheme, provided they have attained majority.

Source: www.postallifeinsurance.gov.in

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Important CAT Judgement

O R D E R

The applicant retired from the post of Deputy Secretary in the Ministry of Home Affairs, Government of India with effect from the afternoon of 31.12.2015 on attaining the age of superannuation.  His date of birth is 01.01.1956. He has been deprived of the benefits of 7th Central Pay Commission’s recommendations, which came into effect w.e.f. 01.01.2016 on the ground that he retired prior to that date i.e. 31.12.2015.

2. The applicant submitted his representation dated 14.12.2015 (Annexure A-4 colly.) to the Secretary, Department of Personnel & Training (DoP&T) (respondent no.3) stating therein that he would cease to be a Government servant in the midnight of 31.12.2016 and thus acquired the status of a pensioner in the forenoon of 1st January, 2016. Hence, he is entitled to all the pensionary benefits viz. gratuity, fixation of pay/pension as per 7th Central Pay Commission’s recommendations. The representation dated 14.12.2015 of the applicant was forwarded by the Additional Secretary (S&V), DoPT to the Joint Secretary, Pension, Department of Pension and Pensioner’s Welfare (DoP&PW) vide letter dated 29.02.2016. The relevant portion of the said letter is extracted below:

“2. In his representation, Shri Yadav has contended that the pensionary benefits accrue to a person when he acquires the status of Pensioner. As per the judgment of the Hon’ble Supreme Court in the case of S. Banerjee, the persons born on 1st January, 2015 were in Government service upto 3 (OA No.571/2017) midnight of 31st December, 2015 and acquired the status of pensioner only in the forenoon of 1st January, 2016. Applying the law laid down by the Hon’ble Supreme Court in the case of S. Banerjee, the persons born on 1st January, 1956 acquired the status of pensioner only in the forenoon of 1st January, 2016. The recommendations of the 7th Pay Commission are likely to be implemented with effect from 1st January, 2016.”

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Photos of the meeting held on 20th October 2018

Photos of the meeting held on 20th October 2018

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Travel entitlements of Government employees for the purpose of LTC post Seventh Central Pay Commission - clarification regarding

Travel entitlements of Government employees for the purpose of LTC post Seventh Central Pay Commission - clarification regarding

No.3101 1/8/2017-Estt.A-IV

Government of India

Ministry of Personnel, Public Grievances & Pensions

Department of Personnel & Training

Establishment A-IV Desk

North Block New Delhi.

Dated October 18, 2018

OFFICE MEMORANDUM

Subject: Travel entitlements of Government employees for the purpose of LTC post Seventh Central Pay Commission - clarification reg.

The undersigned is directed to refer to this Department's O.M.of even no. dated 19.09.2017 on the subject noted above, which inter-alia provides that the travel entitlements of Government servants for the purpose of LTC shall be the same as TA entitlements as notified vide Ministry of Finance's O.M. No. 19030/1/2017-E.IV dated 13.07.2017, except the air travel entitlement for Level 6 to Level 8 of the Pay Matrix, which is allowed in respect of TA only and not for LTC.

2. It is observed that many Government employees in Level 6 to Level 8 of the Pay Matrix had inadvertently travelled by air on LTC during the intervening period from 13.07.2017 to 19.09.2017 (i.e. post issue of MoF's O.M. dated 13.07.2017 and before the issue of DoPT's O.M. dated 19.09.2017) under the impression that they were entitled for air travel as per the revised TA rules. This Department is in receipt of references from the Government employees and various Ministries/Departments seeking relaxation in respect of such Government employees in view of the hardships faced by them in settlement of their LTC claims.

3. The matter has been examined in this Department in consultation with Department of Expenditure. In relaxation to this Department's O.M. of even no. dated 19.09.2017, it has been decided to allow the claims of the Government employees in Level 6 to Level 8 of the Pay Matrix, who had travelled by air as per the revised TA rules while availing LTC during 13.07.2017 to 19.09.2017. This shall be subject to the fulfillment of other conditions of air travel on LTC such as booking of air tickets through the authorised modes, fare limit of LTC80, etc.

4. Hindi version will follow.

sd/-

(Surya Narayan Jha)

Under Secretary to the Government of India

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Request for issue of orders to grant financial benefits on 01/01/2006 to senior IPs, ASPs and Group B officers

To

Sh. A.N.Nanda,

The Secretary (Post)

Department of Post

DakBhawan, SansadMarg

New Delhi-100001

No. CHQ/POA/1-26/2017-18 Dated 15.10.18

Sub: Request for issue of orders to grant financial benefits on 01/01/2006 to senior IPs, ASPs and Group B officers consequent upon placing IPs & ASPs in the same scale.

Postal officer Association intend to refer to Postal Directorate letter number 2-12/2013-PCC dated 24-10-2017 and to inform you that consequent upon placing IPs and ASPs in the same GP w.e.f 1-1-2006, the Grade Pay of both the cadre has became identical at the level of 4600/-. This position has placed the ASPs (Gazetted) in a detrimental and disadvantageous level. As such the promotion already awarded at the level of ASPs prior to 1-1-2006 or working as ASPs on that day has now no meaning and thus stood nullified. Due to this disadvantageous position DoPT in a point of doubt no.1 of Annexure of ACP order no.45034/1/97-Estt(D) dtd 09.08.99 had clarified that when the lower pay and the higher pay are equal the ACP (financial up-gradation) given to ASP has to be ignored and fresh ACP should be given.

Furthermore, since ASPs and IPs have been placed in the same GP of 4600/- corresponding to the old pay scale of 7450-225-10500 so provision for grant of MACP or ACP will have to be redefined in view of the clarification issued on ACP scheme vide DoPT OM No. 35034/1/97-Estt (D) (Vol. IV) dated 12.02.2000 and 18.7.2001. As also provided in postal directorate letter no.4-7/(MACPS)/2009/PCC dated 18-9-2009 promotion earned /up-gradation granted under the ACP schemes in the past to those grades which now carry the same GP due to the merger of the scales/ up-gradation of posts recommended by the sixth pay commission shall be ignored for the purpose of up-gradation under Modified ACPs.

Apparently the pay fixture benefit to those ASPs who were promoted prior to 1-1-2006 from IPs or who got financial up-gradations prior to 1-1-2006 needs revision as on 01-01-2006 in the same manner as done in case of MTS when they were granted GP of 1900, 2000 & 2400 for 1, 2 & 3rd financial upgradations.

Association, therefore urge Secretary Posts to issue orders with regard to extending benefits of Grade pay of 4800 and 5400 as on 01-01-2006 to all senior IPs/ASPs, who were promoted to ASP/PS group B cadre or had been granted 2nd financial up-gradation prior to 01/01/2006.

With profound regards

Yours Sincerely

R N Yadav

General Secretary

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CVC analyses 100 top bank frauds – identifies loop holes- suggests systemic improvements

CVC analyses 100 top bank frauds – identifies loop holes- suggests systemic improvements

Ministry of Personnel, Public Grievances & Pensions

CVC analyses 100 top bank frauds – identifies loop holes- suggests systemic improvements

Posted On: 16 OCT 2018 6:07PM by PIB Delhi

 Central Vigilance Commission (CVC) has reviewed and analyzed Top 100 Bank Frauds, as on 2017.      

 Sharing the details Dr. T.M. Bhasin, Vigilance Commissioner, CVC informed that the Commission has sub divided the study into 13 sectors comprising of Gems and Jewellery, Manufacturing, Agro sector, Media, Aviation, Service Sector, Discounting of cheques and bills, Trading sector, IT Sector, Exports sector, Fixed deposits and Demand Loan etc.

Dr. Bhasin said that as a conscious decision and with a view to maintaining discreteness, the names of borrower accounts/entities and the names of the Banks have not been disclosed in the report. However, steps are being taken for all encompassing actions such as investigation by the Premier investigative agencies, fixing staff accountability and recovery measures, etc. for effective action.

Dr. Bhasin said that the modus operandi of these loans has been thoroughly analysed and various loopholes/lapses have been identified. Based on the findings, various industry specific suggestions for systemic improvement have been given in the final report, which have also been sent to Deptt. of Financial Services (DFS)and RBI, in order to plug the loopholes observed by the Commission. The measures suggested include strengthening of SOPs, monitoring system and also highlighting the role of controlling offices, so as examine the aspect of quality of business.

Dr. T.M. Bhasin said that this analytical study was initiated by the Commission as a Preventive Vigilance measure so as to minimize the occurrence of such type frauds in future. RBI has also confirmed to the Commission that inputs given by CVC are very useful and shall be used for systemic improvements to mitigate the risks. Dr. Bhasin said that the intention of the Commission is to bring about awareness among the field functionaries by enhancing their knowledge towards the existing lapses, so that the frauds of similar nature do not recur. These studies have been done by the Commission as a preventive Vigilance tool by utilizing its vast experience of handling various cases of frauds and Staff accountability related matters.

 A copy of the Analysis of Top 100 Bank Frauds by CVC has been uploaded on CVC website for ready reference:

http://www.cvc.gov.in/sites/default/files/new1111.pd

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Not a single mobile phone faces disconnect threat, says DoT

Not a single mobile phone faces disconnect threat, says DoT

Press Information Bureau
Government of India
Ministry of Communications

18-October-2018 10:55 IST

Not a single mobile phone faces disconnect threat, says DoT 

The Department of Telecommunications (DOT) and Unique Identification Authority of India (UIDAI) in a joint statement today clarified that a few news reports in the media which state that 50 Crore mobile numbers, almost half of the total mobiles in circulation, are at the risk of disconnection, are completely untrue and imaginary. The news report tries to create unnecessary panic among mobile users by claiming that “they stare a prospect of disconnection if SIM cards procured on the basis of Aadhaar verification are not backed up by a fresh identification”. 

The joint statement clarifies that the Hon’ble Supreme Court in its judgement in Aadhaar case has nowhere directed that the mobile number which has been issued through Aadhaar eKYC has to be disconnected. Therefore, there is absolutely no reason for panic or fear at all. People should not believe in such rumours. The Court has also not asked to delete all the eKYC data of telecom customers after 6 months. What the apex Court has asked that UIDAI should not keep authentication log for more than 6 months. The restriction is on UIDAI and not on the telecom companies. Therefore, there is no need for telecom companies to delete authentication logs.

So in the light of the verdict if anybody wishes to get her/his Aadhaar eKYC replaced by the fresh KYC, s/he may request the service provider for delinking of her/his Aadhaar by submitting fresh OVDs as per earlier DOT Circulars on mobile KYC. But in any case his mobile number will not be disconnected.

The Joint Statement said that what Supreme Court has done is that it has prohibited issue of new SIM cards through Aadhaar eKYC authentication process due to lack of a law. There is no direction to deactivate the old mobile phones.

The statement said that in fact the Department of Telecom and UIDAI are in a process to bring out a completely hassle-free and digital process for issuing new SIM cards through a mobile App which will be fully compliant of the Supreme Court judgement in Aadhaar Case. In the proposed process, live photograph of the person with latitude, longitude, and time stamp will be captured. The photo of her ID such as Aadhaar card, voter ID, etc., will be captured. The SIM card agent will be authenticated through OTP and SIM card will be issued. This process will be completely hassle-free and digital.

 The statement reiterates that there is no need to panic or get confused by the reports that have appeared in the media.

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SNC

Source : http://pib.nic.in/newsite/PrintRelease.aspx?relid=184246

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