Cabinet
Cabinet approves Revised Cost Estimate for setting up of India Post Payments Bank
Boost to Banking Services at Post Offices across the country

29 AUG 2018

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for revision of the project outlay for setting up of India Post Payments Bank (IPPB) from Rs. 800 crore to Rs. 1,435 crore. The additional sum of Rs. 635 crore in the revised cost estimates is on account of Rs 400 crore for Technology Costs and Rs 235 crore for Human Resource Costs.

Details:

• IPPB services shall be available at 650 IPPB branches and 3250 Access Points from 1st September 2018 and in all 1.55 lakh post offices (Access Points) by December 2018.
• The project will generate new employment opportunity for about 3500 skilled banking professionals and other entities engaged in propagating financial literacy across the country.
• The objective of the project is to build the most accessible, affordable and trusted bank for the common man; spearhead the financial inclusion agenda by removing the barriers for the unbanked and reduce the opportunity cost for the under banked populace through assisted doorstep banking.
• The project will supplement Government’s vision of “less cash” economy and at the same time promote both economic growth and financial inclusion.
• The robust IT architecture of IPPB has been built taking into consideration bank grade performance, fraud and risk mitigation standards and in line with the best practices from payments & banking domain

IPPB services:

The IPPB will provide bouquet of payments/financial services through its technology enabled solutions which will be distributed by the Department of Posts (DoP) employees/last mile agents transforming them from mail deliverer to harbinger of financial services.
The IPPB shall pay incentive/commission to the last mile agents ( Postal Staff and Gramin Dak Sewaks) directly in their accounts for providing IPPB services so as to motivate them to promote IPP8 digital services to the customers.

A part of commission to be paid by IPPB to Department of Posts will be used for increasing the wherewithal of Post office.

PIB

The post Cabinet approves Revised Cost Estimate for setting up of India Post Payments Bank appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.

F.No.34-1/2013-PAP
GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATION AND IT
DEPARTMENT OF POSTS
(ESTABLISHMENT DIVISION)

DAK BHAWAN, SANSAD MARG, NEW DELHI – 110 001
THE 16th April, 2015

To
ALL HEAPS OF CIRCLES,
ALL GM (PAF)/DAS (P),
ALL DIRECTORS POSTAL STAFF COLLEGE INDIA/PTCs.

Sub: Monetary ceiling of briefcase/ladles purses for official purposes – reg.

I am directed to say that considering the suggestions of circle offices regarding issue related to increase/revise the monetary ceiling of financial limits of expenditure/reimbursement of expenditure on purchase of brlef-cases/ ladies purses for official purpose by the eligible/entitled officers, it has been decided by the competent authority to increase/revise the financial limits for reimbursement as under:-

Sl.No. Rank of Officer/Grade Pay Upper cost of ceiling Periodicity
1. Chief Postmaster General Rs. 8,000/- 3 years
2. Regional Postmaster General Rs. 6,500/- 3 years
3. Directors Postal Services and equivalent Rs. 5,000/- 3 years
4. Sr. Superintendent/Superintendent and equivalent Rs. 4,000/- 3 years
5. IPs/ASPs and equivalent Rs. 3,500/- 3 years

3. This is subject to the following term and conditions:-

The entitled officers/officials are free to procure briefcases/Iadies purses of their own choice from any of the private/public outlet. However, reimbursement shall be restricted to the above mentioned ceiling concomitant with the respective level/grade pay of officers/officials.
The periodicity of such briefcases/ladies purses should not exceed for 3 years’ time in any case.
The declaration should be obtained from the eligible/entitled officer at the time of reimbursement that no Brief Case/Ladies Purse has been supplied/reimbursed to him/her within the last three years.
The above ceiling is effective from the date of Issue of this order.

4. The expenditure in this connection will be met by the Circle/Region/Divlsion and Unit concerned.

5. This issues with the approval of Competent Authority.

(Maj. S. N. Dave)
Assistant Director General (Estt.)

Source: www.indiapost.gov.in
[http://www.indiapost.gov.in/DOP/Pdf%5CCirculars%5CCeiling_Limit_2105_Pub_Upload.pdf]

The post Revised Monetary ceiling of briefcase/ladies purses for official purposes: Dept of Posts appeared first on CENTRAL GOVERNMENT EMPLOYEES NEWS.