19 November 2011

New Interest rates for Saving Schemes

Instrument Current Rate (%) Proposed Rate (%)
Savings Deposit 3.50 4.0
1 year Time Deposit 6.25 7.7
2 year Time Deposit 6.50 7.8
3 year Time Deposit 7.25 8.0
5 year Time Deposit 7.50 8.3
5 year Recurring Deposit 7.50 8.0
5-year SCSS 9.00 9.0
5 year MIS 8.00 (6 year MIS) 8.2
5 year NSC 8.00 (6 year NSC) 8.4
10 year NSC New Instrument 8.7
PPF 8.00 8.6

(iv) Payment of 5% bonus on maturity of MIS will be discontinued.
Commission to Agents

(i) Payment of commission on PPF schemes (1%) and Senior Citizens Savings Scheme (0.5%) will be discontinued.
(ii) Agency commission under all other schemes (except MPKBY agents) will be reduced from existing 1% to 0.5%.
(iii) Commission at existing rate of 4% will continue for Mahila Pradhan Kshetriya Bachat Yojana (MPKBY) agents.
(iv) Incentives, if any, paid by the State/UT Governments will be reduced from the commission paid by the Central Government.

11 November 2011

Successful CWC at Ratnagiri

                Our Maharashtra Circle Working Committee Meeting was held at Ratnagiri on 07/11/2011 to 08/11/2011. Shri. Nilesh Rane, M.P. Ratnagiri was inagurated the function. Comrade Tamhankar also attended the function.
                Too many problems were discussed in the delibrate session. 46 divisions along with their delegates and visitors were attended. From our Satara Division Com. M.M. Vibhute, Com. R.R. Kulkarni, Com. S.P.Nikam, Com. R.S. Parbat and Com. R.S. Kalange were attended the meeting.
                Many burning problems like as target on all premium products, shortage of staff, excess staff at DO, RO, CO level, Strike position of RMS. Organisational review, recruitment and promotions, DPC held or not at all level and any other problems under the permission of Com. president.
               Our Divisional Secretary gave their speech on the burning problems of our division. Com. R.S. Kalange gave their speech on the organisational review of Maharashtra Circle.
               Next Maharashtra conference is to be held at Amaravati from 19/02/2012 to 21/02/2012. Voluntories are requested to send their applications to the Divisional Secretary on or before 31/01/2012.

R.S. Kalange
Organising Secretary,
AIPEU Group C,
Maharashtra Circle.