Welcome to the official website of All India Postal Employees Union Group 'C'- अखिल भारतीय डाक कर्मचारी संघ वर्ग 'सी' की आधिकारिक वेबसाइट में आपका स्वागत है
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Sunday, July 31, 2011

Membership - Latest clarification

RESOLUTIONS ADOPTED IN FEDERAL EXECUTIVE OF NFPE HELD AT LUCKNOW ON 26 & 27 JULY, 2011


THIS FEDERAL EXECUTIVE MEETING OF NFPE HELD AT LUCKNOW FROM 26-07.2011 TO 27.07.2011 AFTER DETAILED DELIBERATIONS ON ALL ISSUES RELATED TO THE PROPOSED INDEFINITE STRIKE FROM 2011 JULY 5th HAS RESOLVED THE FOLLOWING:

1. This Federal Executive has come to the unanimous conclusion that, under the given circumstances the settlement reached with the Administration on the 25 points Charter of Demands is the best possible and fully ratify the decision of the JCA to defer the strike.

2. This Federal Executive further direct the NFPE & JCA leadership to take follow up action to get orders released on all the agreed items in a time bound manner.

3. This Federal Executive demand the Secretary, Department of Posts, to arrange another review meeting on the PLI related issues as the decentralization of certain important PLI/RPLI functions to Divisions has been done contrary to the sprit of the discussions held on 01.07.2011. Review meetings may also be arranged with the unions of Civil Wing and Postal Accounts as assured during the final round of discussion.

4 Regarding the formation of the Committee to review the Speed Post hubs and first class hubs (L 1,L 2) the Federal Executive is of the unanimous view that the induction of new technology and consequent changes in the mail processing should not lead to indiscriminate closure/merger of existing RMS Offices and interest of employees should be protected. The delay in public mail should be avoided and speedy delivery of articles should be ensured.

5. The Federal Executive further resolve that if any unilateral violation of the assurances given to the Staff Side take place then NFPE and JCA shall organize agitational programmes.

Sibal to convert 1.5 lakh POs into banks; to seek RBI nod

The humble post office is all set to undergo a radical change with a proposal to convert over 1.5 lakh post offices across the nation into full fledged banks on the anvil.

Telecom Minister Kapil Sibal wants to reach out to the masses in the rural areas with modern banking facilities through the post offices.

"We want to commercialise the department. We will seek a licence from the RBI to convert all our post offices into banks," Sibal told PTI.

The lack of modern banking facilities in rural areas and dependence of villagers on informal sector for their credit requirements has prompted the government to work on financial inclusion by way of setting up 'postal banks'.

"The State Bank of India can't build branches all over India, but there are post offices across India. The branches are already there, so infrastructure expenditure is not required. So you can actually give banking facilities at relatively lower costs, which would be extremely beneficial to people," he said.

The post offices currently offer financial services like savings bank, postal life insurance, pension payments and money transfer services. Its total corpus stood at Rs 5,82,832.9 crore as on March 31, 2011.

DoP's revenues grew 11 per cent to Rs 6,954.09 crore in 2010-2011 from Rs 6,266.70 crore in the previous fiscal.

However, negative growth rate in some circles has pushed the Department's deficit to Rs 6,625 crore in FY'11, almost equal to the annual revenue of the Department.

"I want to make the (postal) system commercialised. By corporatising over 1.5 lakh post offices across the country, the ministry is expecting to improve the quality of services, increase profitability and reduce prices," Sibal said.

Out of the 22 DoP circles, some circles like Chhattisgarh have reported a negative growth of 19 per cent, Jharkhand 18 per cent and North East 15.9 per cent, whereas Assam (23.7 per cent), Haryana (19.5 per cent), Karnataka (13.5 per cent) and Tamil Nadu (13.9 per cent), recorded positive growth.

Among other steps, the Minister has asked members of Postal Services Board (PSB) to ensure 20 per cent revenue growth on sustainable basis.

Each member of the PSB has been asked to identify, commercialise and operationalise five major schemes of the Indian government, and partner with 5 PSUs and 10 corporate houses for commercial tie-ups with India Post with revenue potential of at least Rs 50 crore each.

DoP is also believed to be working towards setting up ATMs and offer debit cards for its customers.

"My vision is that post offices must become banks, so that an ordinary man can with Rs 10 open an account. We can set-up ATM machines for the e-banking...we can do e-retail," Sibal said.

According to officials, work for setting up 1,000 India Post ATMs is at an advanced stage and DoP has already held parleys with vendors on this front.

The Department is also working on providing skill development courses to its over 4.75 lakh employees with the Human Resources Development Ministry.

"The postman should also learn e-banking so that he can actually help the consumer on the ground. So, we are developing specialised skill development courses with the HRD Ministry," Sibal said.

Courtesy : Deccan Chronical

Thursday, July 28, 2011

ORDERS ON STRIKE CHARTER

Government of India

Department of Posts

SR Section

No. 16/56/2011-SR July 8, 2011

To

All Heads of Circles

Subject: - Organizing frequent meetings/melas on holidays and Sundays – denial of legitimate rights to the employees to avail Sundays etc.

Sir/Madam,

I am directed to state that the issue of organizing frequent meetings/melas on holidays and Sundays, thus depriving the employees of their legitimate right to avail the break was considered in a meeting taken by Secretary to discuss charter of Demands served with the notice of indefinite strike w.e.f. 05.07.2011 by Postal Joint Council of Action.

2. While in certain circumstances it may be unavoidable strategically beneficial for the Department to hold meetings/melas etc on holidays and Sundays, it may not be done so in a routine manner. Needless to say, the weekly break and holidays etc. have their own significance and it may be kept in view while calling the officials for duty during the break.

3. This may be brought to the notice of all concerned.

Yours faithfull

Sd/-

(Subhash Chander)

Director (SR & Legal)

Telefax: 23096021




No. 60-10/2011-SPB-I

Government of India

Ministry of Communications & IT

Department of Posts

Dak Bhavan, New Delhi – 110116

Date the 26th July, 2011

To

1. All Chief Postmaster General

2. All Postmaster General

3. Director, Postal Staff College, Ghaziabad, U.P

4. Chief General Manager, Postal Life Insurance Directorate,

Chankyapuri, New Delhi

5. Director, Postal Life Insurance, Kolkta

6. All Directors, Postal Training Centres

Subject: Increase in the number of chances to appear in the Limited Departmental Competitive Examination (LGO Examination) to fill up the posts of Postal Assistant/Sorting Assistant.

Sir/Madam,

I am directed to refer to the Directorates letter No. 37-63/98-SPB-I (Pt) dated 20/26.8.1999 regarding increasing the number of chances to appear in the Limited Departmental Competitive Examination (LGO Examination) to fill up the posts of Postal Assistant/Sorting Assistant from 5 to 6. The matter has since been reviewed and it has been decided by the competent authority to increase the number of chances for OC candidates to appear in the Limited Departmental Competitive Examination (LGO Examination) to fill up the posts of Postal Assistant/Sorting Assistant from 6to 8. It has also been decided to increase the chances for SC/ST candidates to appear in the said examination to 10 provided there are vacancies reserved for candidates belonging to SC/ST and in case any SC/ST candidate is appointed on the basis of his/her 9th or 10th chance he/she shall be appointed against the vacancy reserved for SC/ST, as the case may be, irrespective of his/her merit in the examination.

2. It is requested that these instructions may be given wide publicity immediately.

Yours faithfully,

Sd/-

(B. P. Sridevi)

Director (Staff)

Click here to see order No. 60-10/2011-SPB-I Dt. 26.07.2011

Monday, July 25, 2011

News at Head Quarters

The Latest developments on some strike charters are finished hereunder for the consumption of our members.

v Orders on officiating pay in higher posts – ordered are placed for signing will be released within two days.

v Orders to recommend grant and relief up to 3 days EL to Head Postmasters – will be released tomorrow or day after tomorrow.

v Order to bring staff on Sundays & holidays – orders issued last week itself. Copy could not be obtained today. Will be exhibited after its receipt.

v Revision of Recruitment Rules to Group D – Draft has been approved and will be notified by amendments to recruitment rules.

v Two more chances to appear LGO exam for those exhausted six chances – instead of two more chances, the file has been placed for enhancement of six chances to eight chances. Since the explained the urgency for its implementation in the notified LGO exam, it is assured to released the orders before the end of this month.

v It is informed that the revision of postman recruitment Rules for Postmen will be finalized by considering the number of candidates passed in the proposed postmen examination.

v Orders for dropping the confirmation examination –The draft on orders has been placed for approval.

v Revised Recruitment Rules for Postal Assistants – As per the RR 2002, there are 49 Categories eligible to appear the exam and most of the categories are not in existence. Now the existence of the category is being processed and the recruitment rules will be finalized.

(i) All the outsider candidates secured 60% marks will be allowed to appear the PA recruitment examination.

(ii) Unfilled LGO vacancies will be thrown open to GDS without any mark condition.

v Revised Recruitment Rules for HSG I – The Staff Selection Commission have raised some queries which have been replied. It is expected that the HSG I Recruitment Rules will be returned from SSC within a week or fortnight, 100% HSG I posts for general line has been already incorporated in the revised recruitment rules.

v Postmaster’s cadre Grade III will be filled up regularly only after the approval of HSG-I Recruitment Rules since the seniority to the existing HSG-I Officials on adhoc basis shall be given seniority in the newly formed cadre.

v Appearing PH candidates for IPO exam – now the department has approved for allotment of vacancies for PH candidates in IPO exam and the file will be sent to social welfare Department for information and formal approval.

v MACP fixation on acquiring TBOP/BCR – orders have been issued.

v Cadre Restructuring Committee – we could not meet the concerned Director (SR) informed that it will be convened shortly.

v Separate cadre for PO & RMS Accountants, will be sorted out in the committee.

v We requested to expedite the release of tenure posting conditions imposed on the single handed SPMs.

v Cash handling point to GDS – Proposal for formation of a committee has been initiated to review and implement the decision.

v Protection of TRCA – File has been submitted to Finance (IFW)

v Grant of Special Allowance to all irrespective of MACP I, II, or III – the IFW sought linking of old files and files have been submitted for approval.

v Treasury Allowance – File has been submitted to IFW.

v Director (SR) told that he is processing the case of allotment of staff quarter with reference to old orders related to post attached quarters and will finalise the shortly.

In respect of other issues, we could not take follow up action today and will process further after returning from Lucknow Federal Executive (i.e.) on 28.07.2011.

ORDERS ON STRIKE CHARTER


FRAME REGULARIZATION SCHEME, COURT TELLS CENTRE

The Madras High Court has directed the Union Government to frame a scheme like that of a one-time regularisation scheme of September 1993, to provide an opportunity of regular entry to 50 persons subject to their eligibility, qualification, if any and after relaxing the age bar and consider their case for regularization.

A Division Bench comprising Justices Elipe Dharma Rao and M. Venugopal passed the common order on petitions by the Centre challenging an order of the Central Administrative Tribunal (CAT) directing it to regularize the services of Rita Mary and 49 other casual labourers who were subsequently granted temporary status.

According to Ms. Mary, she was engaged as a casual labourer in December 1984 and posted to the Customs Preventive party, Thanjavur on monthly wages. In September 1993, the Centre by means of an official memo formulated a scheme for grant of temporary status to casual labourers. In February 1994, she was granted temporary status. However, at a later stage, the status was withdrawn and she was denied regularization. She moved the CAT which directed the government to grant regularization. Hence, the present writ petitions from the official authorities.

Disposing of the petitions, the Bench said the applicants had put in fairly a long spell of service. It had no hesitation to hold that denying them the temporary status and the consequent regularization was not a prudent and a fair practice (and that too when the Department of Personnel and Training in an office memorandum of September 10,1993, framed a onetime regularization scheme.) Otherwise, it would amount to violating the tenor and spirit of Article 14 and 16 of the Constitution, besides discrimination, arbitrariness and unreasonableness. Viewed in that perspective and also taking note of the overall assessment of facts and circumstances of the present case and in the interest of equality, fair play, good conscience and on humane consideration, the Bench said it was giving the direction to the authorities.

- The Hindu, Dated 23.07.2011

Friday, July 22, 2011

IP Surplus Policy DROPPED

Copy of Postal Directorate O.M. no. A-34020/01/2007-DE dated 21.07.2011 is reproduced below:-

OFFICE MEMORANDUM

Sub: Inspector of Posts Examination - allotment of Surplus Qualified Candidates

The Competent Authority has decided that the Surplus Qualified Inspectors scheme which was introduced vide this office letter of even number dated 13.04.2007 and dated 20.04.2007 is hereby dropped.

2. The above order is effective from the Inspector of Posts Examination 2011 which will be held on 3rd and 4th September 2011.

Sd......
(L.Mohan Rao)
Assistant Director General (DE)

Orders on Strike Charter

The Department clarified about fixation of Grade of Pay for TBOP/BCR Group D & Postmen with effect from 1.1.2006 to those granted TBOP/BCR prior to 1.1.2006. This clarification will resolve the long pending demand of MTS & Postmen staff.

For orders please Click below

Ø Click here to see order No. 1-20/2008-PCC (Pt) Dt. 18.07.2011

Wednesday, July 20, 2011

OUTSTATION ALLOWANCE (OSA) FOR RMS STAFF- REVISION OF RATES THERE OF

No. D.G. Posts No. 28.2/2010-D dated 19.7.2011

The outstation allowance payable to the RMS Staff was last revised vide Directorate Memo no. 50-1/98-D dated 08.03.1999 and was under consideration at this Directorate for further revision in the wake of revised DA rates recommended by the 6th Central Pay Commission.


2. It has been decided to revise upwards the Outstation Allowance payable to the RMS Staff for a period of absence on duty from their headquarters exceeding six hours at the following rates:

i) Multi task Staff (Gr. D) Rs. 27.50

ii) Mail Guard Rs.27.50

iii) Head Mail Guard Rs.29.70

iv) Sorting Assistants Rs.29.70

v) LSG SA Rs.31.50

FOR EVERY SIX HOURS OR PART THEREOF

3. The revised Outstation allowance rates would be applicable with restrospective effect from 01.09.2008.

4. This issues with the concurrence of IFW vide Diary No. 64/FA/11/CS dated 15.07.2011 and approval of Secretary (Posts)

SBI Loan For Pensioners and Family Pensioners…


LOAN TO AFFLUENT PENSIONERS

A new scheme “SBI Loan to Affluent Pensioners” is formulated to match the requirements and higher repayment capacity of those with higher salaries and pensions The salient features of “SBI Loan to Affluent Pensioners” scheme are as under:-

(1) Eligibility:

(a) Pensioners :

(i) All Central, State Government pensioners and SBI Pensioners whose pension accounts are maintained by our branches.

(ii) Pensioners whose pensions are disbursed by Govt. Treasuries by cheques drawn in favour of our branches as per mandate of the pensioner are also eligible subject to condition that pensioner should not be more than 72 years of age

(b) Family Pensioners: Family pensioner, i.e. spouse authorized to receive pension after the death of the pensioner, subject to condition that family pensioner should not be more than 65 years of age.

(2) Loan Amount:

(a) Pensioners : Maximum of 12 months net pension with a ceiling of Rs.3.00 lac

(b) Family Pensioners : A maximum of 9 months net family pension with a ceiling of Rs.1.50 lacs In no case the EMI should be more than 25% of the net pension drawn by the family pensioner.

(3) Collateral Security :

(a) Pensioners : Third party guarantee (TPG) of the spouse eligible for family pension. In the absence of the spouse, TPG of any other family member or a third party worth the loan amount.

(b) Family Pensioners : Third party guarantee of a person who has been maintaining a satisfactorily conducted account with the bank, preferably of the son/daughter of the family pensioner.

(4) Repayment Period : In EMIs commencing from the pension payable one month after disbursal of loan. Installment is deducted at the time of payment of pension:

Age at the time of loan sanction

Repayment period

Age at the time of full repayment

Up to 70 years

36 months

73 years

70-72 years

24 months

74 years

(5) Pensioners will have to submit their PAN Number or Form 15H before availing loan under this scheme.

(6) Processing Fees : Nil

(7) Margin : Nil

Interest rates

SBI CAREER LOAN

(Base Rate 9.50 % w.e.f. 11.07.2011)

Type of Security

Rate of Interest

Land/Building

4.50% above Base Rate, currently 14.00% p.a.

Bank’s TDRs/STDRs

1.00% above the rate of interest payable on deposits

Govt. Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds, LIC Policy

4.25% above Base Rate , currently 13.75% p.a.

(In case interest is paid during the course period a rebate of 0.50% will be admissible, only during the moratorium period)

NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.

For more details contact your nearest SBI Branch.


Tuesday, July 19, 2011

IP Exam 2011 - 03 / 04.09.11 - Corrigendum

IP Exam 2011 - 03 / 04.09.11 - Corrigendum

With Ref to Post Dt. 15.07.11 reg IP Exam 2011 – See Pg. 1 – para 1, pl read as “It has been decided to conduct this Exam on 3rd & 4th September 2011 “ instead of “It has not been decided to conduct this Exam on 3rd & 4th September 2011“. Dte issued Corrigendum also in this regard.

Monday, July 18, 2011

Salaried employees — when no return is required?

Salaried employees — when no return is required?

QUESTION: There has been news item about a new scheme sparing liability for salaried employees with income below Rs.5 lakhs, subject to certain conditions which are not clear for them. Could you clarify the same?

ANSWER: Notification No. 36/2011 dated 23rd June, 2011 would exempt salaried employees, whose income does not exceed Rs.5 lakhs in cases where the only other income for them is by way of interest from savings account not exceeding Rs.10,000. Salaried employees drawing income upto Rs.5 lakhs are likely to have other incomes from deposits other than from savings bank account including income from those classes of investments for which deduction is available under section 80C. Only an extremely limited number of taxpayers would be able to take advantage of the scheme.

It is necessary to bear in mind that for employees to be able to avail the benefit, they have to ensure that there is not only adequate tax deduction at source, but also such tax has been deposited by the employer and so certified in Form 16, which should contain employee’s Permanent Account Number (PAN), details of income, tax deducted at source and deposited to the credit of the Central Government. Tax deduction and deposit should cover the entire tax payable. If there is any claim of refund of over-paid taxes, the need for return is not avoided. For the employees, who have served more than one employer during the year, the scheme would not be applicable.

It is further made clear, that the scheme would have no application, where return is required by a notice for assessment under section 142(1), for reassessment under section 148 or on a searched person under section 153A or on a third party to search, where documents or assets relating to the assessee has been discovered under section 153C.

There was no need to impose so many restrictions, which go against the spirit of the policy announced by the Finance Minister in his Budget Speech. The exemption should have been granted to all salaried employees and senior citizens, who have income from sources other than business or profession or capital gains, upto Rs.5 lakhs as long as adequate tax has been either deducted or paid by way of advance tax, subject, no doubt, to enquiry by the Assessing Officer, when so required. Such a course of action would not only help a large number of small taxpayers, but also reduce the proliferation of paper work in the Income-tax Department.

Courtesy : Hindu 18.7.2011

M.N.O.P.REVIEW COMMITTEE

SECRETARY (P) S MEETING WITH POSTAL JOINT COUNCIL OF ACTION ON 27.06.11, 29.06.11, 30.06.11 AND 01.07.2011. ITEM NO. 1-DEALING WITH MAIL NETWORK OPTIMIZATION PROJECT- CONSTITUTION OF A COMMITTEE: D. G. POSTS NO. 08/-9/2011-SR DATED 15/07/ 2011

In partial modification of the Office Order No.08/-9/2011-SR dated 12.07.2011, approval of the competent authority is hereby conveyed to the substitution of CPMG Rajasthan Circle by CPMG Tamil Nadu Circle ,as member of the Committee which was constituted to review the mail arrangement as also the formation of L-1 & L-II in regard to 1st Class mail. The revised composition of the Committee will now be as follow:

Official Side

Staff Side

Member (Operation)- Chairman

Secretary General NFPE -Member

CPMG Tamil Nadu Circle-Member

Secretary General FNPO- Member

Director (Mail Management) , Member Secretary

2. All other terms and conditions of constitution of the Committee as contained in Office Order dated 12.7.2011 remains unchanged.

POSTING OF SPMs IN SINGLE HANDED & DOUBLE HANDED OFFICES

This issue was taken up by our CHQ and based on our views, suitable clarification have been issued to Chief PMG, U. P. Circle.

Please click below for Copy of the orders

Ø Click here to see order No. 137-56/2008-SPB.II Dt. 15.07.2011

Friday, July 15, 2011

COMMITTEE ON MAIL NETWORK OPTIMIZATION

COMMITTEE ON MAIL NETWORK OPTIMIZATION

Subject: - Secretary (P) s meeting with Postal Joint Council of Action on 27.06.11, 29.06.11, 30.06.11 and 01.07.2011. Item No. 1-dealing with Mail Network optimization Project- Constitution of a Committee.

D.,G.Posts No. 08/-9/2011-SR Dated 12/07/ 2011

Item No. 1 of the Charter of Demands served by Joint Council of Action alongwith the notice of threatened strike w.e.f. 05.07.2011, dealing with Mail Network Optimisation Project, was discussed at length in various meetings taken by Secretary (Posts)/Member (Operation). In the wake of the above discussions, the competent authority has decided to constitute a Committee with the following composition

Official Side

Staff Side

Member (Operation)- Chairman

Secretary General NFPE -Member

CPMG Rajasthan Circle-Member


Director(Mail Management) - Member Secretary

Secretary General FNPO- Member

2. The Committee will review the mail arrangement made as sequel to creation of Speed Post Hubs which, as represented by Staff Side are causing delay as compared to the position prevailing earlier. The Committee will also review the formation of L-I & L-II in regards to 1st Class mails.

3. The Committee will submit its report within one month of its formation.


Departmental Examinations for IPO & LGO

IP Examination 2011 to be held on 3rd and 4th September 2011


The copy of Directorate Letter No.A-34012/04/2011-DE dated 14.07.2011 regarding holding of IP Examination 2011 on 3rd & 4thSeptemeber 2011 is reproduced below.





























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LGO Exam 2011 to be held on 04.09.2011


The copy of Directorate Letter No.A-34012/02/2011-DE dated 14.07.2011 regarding Limited Departmental Examination (LGO) 2011 for promotion to PA/SA cadre in Divisions to be held on 4th Septemeber 2011 is reproduced below.

The Schedule of Examination as per Dte letter replaces the schedule communicated under CO letter dated 05.07.2011.

The CHQ today addressed the Directorate to cause immediate orders on increasing the number of chances to the candidates who have completed six chances already

Wednesday, July 13, 2011

NPS in a mess as governments fail to ensure employee participation

NPS in a mess as governments fail to ensure employee participation

Dhirendra Kumar, CEO, Value Research

The New Pension Scheme (NPS), which should have become an important part of the country's savings landscape, is dead, at least for the time being. This, more or less, is what a government committee set up to examine the NPS is saying.

The recommendations of the 'Committee to Review Implementation of Informal Sector Pension', (the Bajpai committee on NPS reforms) have been put up on the website of the Pension Fund Regulatory and Development Authority (PFRDA ), inviting comments.

The part of the report that has attracted the most attention is the recommendation that a 0.5% commission should be paid for selling NPS. While this itself is a huge departure from the original structure, it is actually not the most important part of what has been said.

In a cogent and lucidly-written report, the committee has said that practically everything about the current design of the NPS is flawed. No one is willing to buy it and no one is trying to sell it. Almost all the money that has flown into the NPS comes from government employees who are part of it. We've been hearing recently that only about Rs 100 crore has come into the NPS by choice.

However, the report reveals that even this sum is almost entirely due to two corporates shifting their pension system to the NPS. Direct participation by end-users is close to zero. In other words, the NPS has been a complete failure.

There's one aspect that hasn't attracted any comment, and that is the failure of the governments - both state and central - to properly implement the government employees part of the NPS. The way it was supposed to work was that government employees under the NPS were to have an account which they would be able to monitor and watch grow.

Starting 2004, these investments - with their equity allocations - would have given superb returns that would have been far superior to the plain fixed-income ones. What's more important, we would have had about 12 lakh (the report's number) government employees who would have had the personal experience of growing their future wealth through the NPS.

This never happened and the implementation of the NPS is in complete mess. The money wasn't invested for years after 2004. Government employees don't have personal accounts with the NPS's CRA (central record-keeping agency). They don't have any first-hand information of how the investments done in their name is being managed. They don't know what is being earned, they don't know which fund manager is doing well and whose performance is poor.

The extent of the mess is borne out by the fact that this committee was unable to discover how many employees are covered by the NPS and whether all those who have joined government jobs since 2004 are indeed part of the NPS or if their pension deductions are in some limbo somewhere.

Here's a statement from the report that should shock you: "...it is not yet clear (on the basis of PRANs registered) whether all the central government employees who have joined service after January 1, 2004, have become NPS members. There is no concrete evidence or any authorized government document to back this up, but going purely by the number of investors and the headcount of new appointments, there seems to be a gap. These people could have been the satisfied seed population around whom the NPS could have grown. Sure, there are a lot of genuine issues with the NPS's current structure and the committee's recommendations cover them extensively.

It's refreshing to read a clear recognition of the fact that financial products have to be sold actively and that the banks are going to sell what makes them money and not what is in the best interests of their customers. At the end of the day, it's hard to avoid the conclusion that whether as a pension mechanism or as a discretionary savings vehicle, the NPS's launch-to-mess trajectory has been short and rapid."

Source : Economic Times 12.7.2011