Friday, February 05, 2016

Loans and Advances by the Central Government – Interest Rates and other Terms and Conditions.

MOST IMMEDIATE

F.No.5(3)-B(PD)/2015
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 3rd February, 2016

OFFICE MEMORANDUM

Subject:- Loans and Advances by the Central Government – Interest rates and other terms and conditions.

Reference this Ministry’s Office Memorandum F.No.5(3)-B(PD)2014 dated 29th December, 2014 on the captioned subject.

2. The lending rates, categories and conditions prescribed in the aforesaid Office Memorandum have been reviewed. The revised rates of interest, categories and conditions as given in the Table below, would be applicable from 1st April, 2015 and till the time these are reviewed:

* Loans to State Government would be under EAP loans only. For Ways & Means loans, State Govts. have access to RBI window. In case any State has any specific contingent requirement, the proposal would be considered on case specific basis by Budget Division.

 The window of investment and working capital loan to CPSUs from Government of India in general, is hereby closed. CPSUs, in general, are hardly having debt and hence should raise debt from market or from banks.

Only if CPSU is justified as significant from ‘Strategic’/ ‘Security’ angle, banks refuse loan to it and it has no real assets including land, to monetise, would loan be extended to it at 11% with the prior approval of Budget Division. However, wherever Investment and Working Capital loan has already been extended to CPSUs in 2015-16, the rate of interest would be at 11.50% and 13.50% respectively.

@The window pertaining to loans to Financial Institutions in the Public Sector, Port Trusts, KVIC, NHAI, Municipal Corporation of Delhi, National Co-operative Development Corporation (NCDC), Commodity Boards, Social Service

Institutions, Individuals etc. in general, is hereby closed seeing the offtake under this in last 3 financial years. However, if a specific case still comes in future, it would be examined by the Budget Division, DEA on merits of that case.

3. The terms, including interest rate of loans to Foreign Governments may be settled in consultation with Budget Division. Terms for on-lending of funds under externally aided projects should be in accordance with the prescribed pattern. In case, deviation is considered necessary, Budget Division should be consulted.

4. The interest rates prescribed above assume timely repayments and interest payments and hence no further rebate in rates is to be allowed for timely payments.

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Thursday, February 04, 2016

OROP Tables Released Officially – 101 PENSION TABLES INDICATING RATES OF PENSION – FAMILY PENSION UNDER OROP SCHEME

One Rank One Pension Implementation – DESW issued orders on 3.2.2016

Ministry of Defence letter No.12(1)/2014/D(Pen/Pol)-Part-II dated 03.02.2016 on One Rank One Pension (OROP) to the Defence Forces Personnel.

No.12(1)/2014/D(Pen/Policy)-Part-II
Government of India
Ministry of Defence
Department of Ex-Servicemen Welfare

New Delhi, Dated: 03 February, 2016

To
The Chief of Army Staff
The Chief of Navy Staff
The Chief of Air Staff

Subject: One Rank One Pension to the Defence Forces personnel.

Sir,
The undersigned is directed to refer this Ministry’s letter No 12(1)/2014/D(Pen/Policy)-Part-II dated 7th November, 2015 notifying One Rank One Pension (OROP) scheme for Defence Forces personnel. Salient features of the scheme have been mentioned at Para 3 & 4 of above said letter with the provision that the benefit of the scheme shall be implemented from 1.7.2014 to all pre-1.7.2014 pensioners. Para 6 of the letter provides that detailed instructions relating to implementation of OROP along with tables indicating revised pension for each rank and each category, shall be issued separately for updation of pension and payment of arrears by Pension Disbursing Agencies concerned.

2. The undersigned is directed to say that in order to quicken the process of revision of pension/family pension, total 101 pension tables indicating rates of pension/family pension under OROP scheme notified vide this Ministry’s order dated 7th Nov, 2015, are appended to this order. The appended tables indicate revised rates of Retiring/Service/ Special/ Disability/ Invalid/ Liberalized disability/War Injury Pension including disability/war injury element and ordinary/ special/ liberalized family pension of Commissioned Officers, Honorary Commissioned Officers, JCOs/ORs and Non-Combatants (Enrolled) of Army, Navy, Air Force, Defence Security Corps & Territorial Army retired/discharged/invalided out from service/died in service or after retirement. The existing pension of all pre-1.7.2014 pensioners/family pensioners shall be enhanced with reference to applicable table for the rank (and group in case of JCOs/ORs) in which pension with reference to the actual qualifying service as shown in Column-I of the tables subject to maximum term of engagement for each rank as applicable from time to time. The rate of pension of pensioners/ family pensioners drawing pension more than the rate of revised pension/ family pension indicated in annexed tables, shall remain unchanged.

3. The undersigned is also directed to convey that full pension of PSU absorbees who had opted for 100% commutation of pension, shall also be revised under this order with reference to revised pension of the rank determined for regular category of pensioners. However, there shall be no change in restored amount of pension already notified by respective PSAs in their case.

APPLICABILITY

4. The provisions of this letter shall be applicable to all pensioners/family pensioners who had been retired/discharged/ invalided out from service/died in service or after retirement in the rank of Commissioned Officers, honorary commissioned officers, JCOs/ORs and Non-Combatants (Enrolled) of Army, Navy, Air Force, Defence Security Corps, Territorial Army & Ex-State Forces and are in receipt of pension/ family pension as on 1.7.2014.

4.1 The provisions of this order, however, do not apply to UK/HKSRA/KCIO pensioners, Pakistan & Burma Army pensioners, Reservist pensioners and pensioners in receipt of Ex-gratia payments.

METHODOLOGY FOR IMPLEMENTATION
5. All Pension Disbursing Agencies (PDAs) handling disbursement of pension to Defence pensioners are hereby authorized to carry out revision of Retiring/Service/ Special/Disability/Invalid/Liberalized disability/War Injury Pension including disability/war injury element and ordinary/special/liberalized family pension of all pre- 1.7.2014 pensioners drawing pension as on 1.7.2014 in terms of these orders with applicable rates of dearness relief without calling for any applications from the pensioners and without any further authorization from the Pension Sanctioning Authorities concerned.

6. Where the revised pension as on 1.7.2014 worked out in terms of these orders, happens to be less than the existing pension/ family pension as on 1.7.2014, the pension shall not be revised to the disadvantage of the pensioner.

7. Arrears on account of revision of pension from 1.7.2014 till date of its implementation shall be paid by the Pension Disbursing Agencies in four equal half yearly installments. However, all the family pensioners including those in receipt of Special/Liberalized family pension and all Gallantry award winners shall be paid arrears in one installment.

8. The initial Pension Payment Order (PPO) or its Corrigendum PPO (Corr PPO) indicates rank,group and qualifying service for which the individual has been pensioned. This information is available with Pension Disbursing Agencies as they have revised pension of all such pensioners in the recent past in terms of Government orders issued for implementation of recommendations of Sixth CPC, CSC-2009 & CSC-2012. In case, however, any information regarding qualifying service, rank, group etc., is not available with Pension Disbursing Agencies, such cases may be referred to Pension Sanctioning Authority concerned on the proforma enclosed as Annexure-A. The Pension Sanctioning Authorities concerned will provide the requisite information from the available records within 15 days of the receipt of request from the Pension Disbursing Agencies.

9. In case of any doubt relating to revision of pension in terms of this order, pension disbursing agencies may immediately take up the matter with nodal officers of respective PSAs details of which shall be notified by Pr.CDA(P) Allahabad in their implementation instructions.

10. The OROP shall be basic pension from 1.7.2014 and therefore, additional pension as applicable to the old age pensioners/ family pensioners on attaining the relevant age (80 years and above) shall also be enhanced by the PDAs from 1.7.2014 or the date from which the pensioner attains the age of 80 years or more, whichever is later.

PAYMENT OF LIFE TIME ARREARS (LTA)

11. If a pensioner to whom the benefit accrues under the provisions of this letter has died/dies before receiving the payment of arrears, the Life Time Arrears of pension (LT A) shall be paid in the following manner: –

a) If the claimant is already in receipt of Family Pension or happens to be the person in whose favour Family Pension already stands notified and the awardees has not become ineligible for any reason, the LTA under the provisions of this letter should be paid to such a claimant by the PDA on their own.
b) If the claimant has already received LTA in the past in respect of the deceased to whom the benefit would have accrued, the LTA under the provisions of this letter should also be paid to such a claimant by the PDA on their own.
c) If the claimant is a person other than the one mentioned at 11(a) & 11(b) above, payment of LTA shall be made to the legal heir/heirs as per extant Government orders.

12. The following elements shall continue to be paid as separate elements in addition to the pension revised under these orders-
i) Monetary allowance attached to gallantry awards viz. Param Vir Chakra, Ashok Chakra etc.
ii) Constant Attendance Allowance, where admissible.
iii) Dearness relief as sanctioned by the Government from time to time.

MISCELLANEOUS INSTRUCTIONS
13. No arrears on account of revision of pension/family pension shall be admissible for the period prior to 1.7.2014.

14. No commutation of pension shall be admissible on revised/additional amount of pension accruing as a result of revision of pension under these orders. However, the existing amount of pension, if any, that has been commuted will continue to be deducted from the revised pension.

15. As a result of these orders, there will be no change in the amount of gratuity already determined and paid with reference to the rules in force at the time of discharge/invalidment/ death.

16. Any overpayment of pension coming to the notice or under process of recovery shall be adjusted in full by the Pension Disbursing Agencies against arrears becoming due on revision of pension on the basis of these orders.

METHODOLOGY FOR REPORTING

17. An intimation regarding disbursement of revised pension shall be furnished by the Pension Disbursing Agencies to the Office of the Pr. CDA(P) Allahabad in the format prescribed as Annexure¬B to this letter in the following month in which revision takes place. PDAs shall also ensure that an intimation regarding revision of pension is invariably conveyed to the pensioners concerned for their information irrespective of the fact the same is beneficial to them or not. The Public Sector Banks who are disbursing defence pension through Central Pension Processing Centres (CPPC), the progress report shall be furnished by the CPPC of the bank directly to the office of the PCDA (Pensions) Allahabad through electronic scrolls.

18. All other terms and conditions which are not affected by this order shall remain unchanged.

19. This issues with concurrence of Finance Division of this Ministry vide their ID No PC. 1 to 10(11)/2012/FIN/PEN dated 2.2.2016 .

Sd/-
(Manoj Sinha)
Under Secretary to the Govt. of India

source: www.desw.gov.in
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OROP Table : One Rank One Pension (OROP) Implementation Tables Issued

OROP Table : One Rank One Pension (OROP) Implementation Tables Issued

The Government of India had taken the historic decision to implement OROP in November, 2015. This fulfilled the long standing demand of the Defence Forces personnel after 42 years and benefited over 18 lakh ex-servicemen and war widows.

In pursuance of the order issued on 07/11/2015, detailed instructions alongwith OROP Tables have been issued today.

• The annual recurring financial implication on account of implementation of OROP at the current rate will be approximately Rs. 7500 crore.

• The arrears from 01/07/2014 to 31/12/2015 would be approximately Rs. 10,900 crore.

• 86 percent of the total expenditure on account of OROP will benefit the JCOs/ORs.

• Payment of arrears and revision of pension under OROP is to be made by the Pension Disbursing Authorities in four installments, except for family pensioners and pensioners in receipt of gallantry awards who will be paid arrears in one installment.

• The total increase in the Defence Budget for pensions is estimated to go up from Rs. 54,000 crore (BE 2015-16) to around Rs. 65,000 crore (proposed BE 2016-17), thereby increasing the Defence Pension Outlay by about 20 percent.

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Wednesday, February 03, 2016

Payment of P.L.Bonus to Railway employees at revised rate of Rs.7000/-p.m.for the year 2014-15-reg.

NFIR
National Federation of Indian Railwaymen
3, Chelmsford Road, New Delhi – 110 055
Affiliated to
Indian National Trade Union Congress (INTUC)
International Transport workers Federation (ITF)

No.I/10/Part IV

Dated: 02/02/2016

The Chairman
Railway Board
New Delhi

Dear Sir,

Sub: Amendment to the payment of Bonus Act – Revision of calculation of wages from Rs.3500/- p.m. to Rs.7000/- p.m. w.e.f. 01/04/2014 – Payment of P.L.Bonus to Railway employees at revised rate of Rs.7000/-p.m.for the year 2014-15-reg.

Ref:GS/NFIR’s letter no.I/10/pt. IV dated 24/12/2015 & 04/01/2016 addressed to Hon’ble MR, Copy endorsed to CRB and Board Members.

Pursuant to the passage of the amendment to Bonus Act bill by the Parliament and consequent issuance of the Gazette Notification on January 1,2016 by the Ministry of Law and Justice (begislative Department), NFIR vide its communications dated 24/12/2015 & 04/01/2016 (Cited under reference) requested the Hon’ble MR to kindly order for processing for payment of P.L. Bonus to the railway employees at the revised wages of Rs.7000/-p.m. for the year 2014-15.

In this connection, Federation again requests the Railway Ministry to take into consideration of Government’s decision in October,2008 and consequential instructions issued by the Railway Board vide letter No.E(P&A)II-2008/PLB-10 dated 03/10/2008 for payment of P.L.Bonus at the revised salary calculation of Rs.3500/-p.m. w.e.f 1st April 2006.

NFIR,therefore,requests to kindly arrange to take necessary action for arranging P.L.Bonus arrears to the employees on the basis of salary calculation at Rs.7000/- p.m., for the year 2014-15.

Yours faithfully,

Sd/-
(Dr.M.Raghavaiah)
General secretary

Source: NFIR
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More schemes to be launched for benefit of ex-servicemen: Union Minister Mr. Pon Radhakrishnan

Stating that the Narendra Modi government has already announced the ‘One Rank, One Pension’ scheme for the benefit of ex-servicemen, Radhakrishnan declared that the prime minister would come out with more welfare schemes for them.

The Centre will talk to state governments for providing job opportunities to servicemen who retire at an early age, Union Minister Pon Radhakrishnan said on Sunday.

The minister said he will take up the issue with state governments which have reserved some percentage for ex-servicemen in government jobs after he was told that jawans who retire early, at the age of 30-35 years, often find it difficult to secure a job.

Stating that the Narendra Modi government has already announced the ‘One Rank, One Pension’ scheme for the benefit of ex-servicemen, Radhakrishnan declared that the prime minister would come out with more welfare schemes for them. He was talking to reporters on the sidelines of the 28th anniversary celebrations of the Coimbatore Ex-servicemen and Widows Welfare Society here.

On Congress Vice President Rahul Gandhi holding a fast in Hyderabad over the Dalit scholar suicide issue, the minister said he was “moving without any direction”. The opposition party is desperate as it is unable to find any grounds to attack the Modi government and is hence trying to tarnish its image by raising non-issues, the minister claimed.

Earlier, at a press conference ahead of the visit by the prime minister in Coimbatore on February 2, Radhakrishnan said Modi will continue to rule for the coming 15 years. Asked about the upcoming Assembly polls in Tamil Nadu, Radhakrishnan said BJP has not not yet reached the stage where it has to beg other parties for an alliance.

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