Monday, 6 March 2017

Revised bank charges: Here’s why and how much you have to pay

NEW DELHI: Major Indian banks-SBI, ICICI, HDFC and Axis-have decided to charge users for cash transactions above Is Modi on a road to nowhere in Uttar Pradesh? limits and for a few facilities which were free till now. More banks are expected to follow suit.

The new charges are aimed at discouraging cash transactions though banks might end up profiting from them hugely. Below is what you must know if you have an account in any of these banks:

State Bank of India

1. From April 1, SBI will permit savings bank account holders to deposit cash three times a month free of charge. Beyond that, it will charge Rs 50 plus service tax for every transaction.
2. In case of current account, the levy could go as high as Rs 20,000. Related: It's time to really pull up India's out-of-control banks
3. SBI account holders will also have to keep a minimum balance in their accounts, failing which they will be fined. The fine will be lower for rural areas.
4. In metropolitan areas, there will be a charge of Rs 100 plus service tax if the balance falls below 75 per cent of the minimum available balance of Rs 5,000. If the shortfall is 50 per cent or less, the bank will charge Rs 50 plus service tax. SBI used to have such charges in 2012.
5. Withdrawal of cash from ATMs will attract a charge of up to Rs 20 if the number of transactions from ATMs of other banks exceeds three and Rs 10 for more than five withdrawals from SBI ATMs.
6. However, SBI will not levy any charge on withdrawals from its own ATMs if the balance exceeds Rs 25,000. In case of withdrawals from ATMs of other banks, there will be no charge if the balance exceeds Rs 1 lakh.
7. SBI will charge Rs 15 for SMS alerts per quarter from debit card holders who maintain average quarterly balance of up to Rs 25,000 during the three months. There will be no charge for UPI/USSD transactions of up to Rs 1,000.

Axis Bank
1. Axis Bank customers will be allowed five free transactions every month, including deposits and withdrawals. Above that, customers will be charged a minimum fee of Rs 95 per transaction.
2. Up to five non-home branch transactions will be free for customers, subject to a maximum per-day deposit of Rs 50,000. For larger deposits or the sixth transaction, the bank would charge Rs 2.50 per Rs 1,000, or Rs 95 per transaction, whichever is higher.

1. HDFC Bank will levy Rs 150 per transaction, beyond four free ones (deposits and withdrawals) each month. 2. The new charges would apply to savings as well as salary accounts.
3. For home-branch transactions, the bank will allow deposits or withdrawals of up to Rs 2 lakh free of cost at one go per day. Beyond this, it will charge Rs 5 per Rs 1,000, or Rs 150.
4. At non-home branches, transactions beyond Rs 25,000 a day will attract a charge of Rs 5 per Rs 1,000, or Rs 150.

1. There will be no charge for first four transactions a month at branches in home city while Rs 5 per Rs 1,000 will be charged thereafter subject to a minimum of Rs 150 in one month.
2. The third-party limit would be Rs 50,000 per day.
3. For non-home branches, ICICI Bank would not charge for first cash withdrawal of a calendar month and Rs 5 per Rs 1,000 thereafter subject to a minimum of Rs 150.
4. For anywhere cash deposit, ICICI Bank would charge Rs 5 per Rs 1,000 (subject to a minimum of 150) at branches, while deposit at cash acceptance machines would be free of charge for first cash deposit of a calendar month and Rs 5 per Rs 1,000 thereafter.


Indian Military Veterans

Forwarded mail

From: DIWAVE Disabled war Veterans 

Date: Thu, Mar 2, 2017 at 10:12 AM
To: Disabled war Veterans 

At the outset, may I remind the otherwise Impatient Veterans that they need to have patience when dealing with the ministry. A lesson I have learnt and which is paying dividends. Many of you may not agree with me. The  attitude under the present RM and his staff, in my opinion, is to try and facilitate and implement our suggestions/requests if found reasonable and within the framework of rules. It is our task to prove that.

Yesterday we, Capt N K Mahajan and I, met the RM at his office at 2.50 PM to release the first magazine issued by "Disabled War Veterans (India) for distribution to all War Disabled. The effort in collating the information in regards entitlements etc and work already completed was entirely that of Capt N K Mahajan. The magazine is in English and Hindi. DIWAVE thank him for his efforts.

The meeting was attended by IESL and AFA league besides the Minister of State for Defence, Financial Advisor MoD, CGDA and all officials including serving senior officers.

Now the issues on which the RM are given below: 

1. Counting of full service of rank as qualifying service (without any reduction for shortfall in actual ​service) for war injury pension.

The RM took the details of the special dispensation accorded in 1972 and the FADS agreed to our contention. He instructed the Secy ESW and CGDA to take note. We informed him of the reduction based on circular 555 for which he declared that no reduction in pension could be made. CGDA took note. 

2. OROP orders

As regards the OROP issue, since it was a political one, he indicated that he would issue orders based on Judicial Commission only after 15 March 2017.

3. Disability Pensions and Broad Banding

The RM indicated that disability pensions will be on percentage basis together with broad banding and these orders will be issued together with balance of 7CPC orders.

4. DGL of pension revision to include disability pension in the same circular for pension revision.

The issue of consultation prior to issue of orders by relevant authority to avoid any anomaly in future has been agreed to.

5. Issue of corrigendum PPO's and e-PPO's

The issue had been brought up by AFA league earlier and this was discussed in detail with AG informing the RM that it required complete change in the software. 

It would be a long haul and might take upto over six months. 

It was suggested that the effort may be subcontracted to an IT firm. 

This proposal was seriously considered and RM indicated that it was something that needed to be initiated. Secy ESW took note.

6. Empanelment of Ottobock and Endolite prosthesis centre under ECHS

The orders for the same have been finalised with rates approved for each fitting. The financial approval has been cleared and the orders by MD ECHS should be issued very shortly.

7. Payment of Fixed Medical Allowance (FMA)

The RM is in acceptance of the idea proposed and awaited the final proposal by MD ECHS

8. Similar Entitlement of ward in CGHS and ECHS beneficiaries in empanelled hospital

The RM accorded approval for this proposal.

9. Enhancement of pension of widows of war disabled invalided out war veterans

The RM accepted the proposal and the AG was informed. Final decision will be taken shortly.

10. IESL took up following issues of which some decisions were accorded:

a) The adding of weightage towards pensions of JCO's and OR's as previously accorded in 6th Pay Commision.
 RM agreed to the proposal and informed Secy ESW and CGDA to take note.

b) The pension of Hony JCO's 

IESL intimated that some Hony JCO's who received the honour after retirement were not receiving pensions of the rank whereas their contemporaries did. 

The RM after hearing them intimated that the date of honorary rank will not be the date of announcement but date approved. 

Also honorary ranks should be conferred at least two years prior to retirement to avoid this anomaly reoccurring. 

c) MSP increase for JCO's and Other Ranks

IESL raised the issue of the MSP of the lower ranks and RM requested AG for his proposal within a week.

d) NFU 

IESL raised the issue of NFU and RM took note of the same for action.

The RM also indicated to those present that final orders of 7CPC had not been received and the pensions presently ordered may be revised upwards.

Other entitlements done away by 7CPC are also under review and we should await the result.

Not wishing to tread on the efforts of IESL and AFA League, I have mostly dealt on the issues of War Disabled and some issues spoken about in my capacity of attending the meeting. 

​Col H N Handa​
Disabled War Veteran's (India)
C6-18/1 Safdarjung Development Area,
Behind Haus Khas Telephone Exchange,
New Delhi 110016
Tele: 011-41315492
Fax: 011-41315492/0124-4051572
Mob: +919811920190/+919811199367

(Source : via gp e-mail from Col SS Sohi (Retd)

Owning a House Becomes Easier for Army Personnel

Indian Military Veterans

    Press Information Bureau 

Government of India
Ministry of Defence

03-March-2017 16:59 IST

1. Army personnel by virtue of deployment in remote areas find it extremely difficult to invest time in buying a good house, therefore, to fulfill this essential need and meet the aspirations, AWHO has come up with a pragmatic business model called the ‘Private Industry Collaborative Business Model’ which will facilitate acquiring houses from reputed private builders at discounted prices for Army personnel & Veer Naris. A Pilot Project is being undertaken in Delhi/ NCR and based on its success, similar ventures will be executed in other locations.

2. Major advantages of this concept are detailed market research to identify the most suitable builder/ project, negotiations for price reduction, due diligence and buyer friendly terms & conditions. Prop Equity, a leading Real Estate Data & Analytics Consultant firm has been selected after a prolonged process to undertake the facilitation process forward.
3. This historical MoU was signed by Lt Gen Rakesh Sharma, UYSM, AVSM, VSM, Chairman (Ex-Officio) AWHO and Mr Samir Jasuja, MD, Prop Equity Analytics on 3rd Mar 2017
Col Aman Anand
PRO (Army)

Good news for central staff, pensioners, Narendra Modi-govt to hike dearness allowance by 2% from January 1

Indian Military Veterans
Dearness allowance and dearness relief are provided to employees and pensioners to neutralise the impact of inflation on their earnings.
The Centre is likely to announce a hike of 2-4 per cent in dearness allowance for its about 50 lakh employees and 58 lakh pensioners later this month. Dearness allowance and dearness relief are provided to employees and pensioners to neutralise the impact of inflation on their earnings. The labour unions, however, are not happy with the proposed hike saying it would not be able to offset the real impact of price rise.

“The dearness allowance as per the agreed formula by the Centre works out to be 2 per cent which would be effected from January 1, 2017,” Confederation of Central Government Employees’ President K K N Kutty told PTI.

However, Kutty expressed dissatisfaction over such a “meagre” hike saying that the consumer price index for industrial workers (CPI-IW) which is an agreed benchmark for increasing dearness allowance is far from reality.

He said that there is difference between the quantum of price rise of commodities ascertained by the Labour Bureau and the Ministry of Agriculture. CPI-IW is an imaginary number due to poor quality of data collection by Labour Bureau and it is far from reality, he claimed.

The average CPI-IW to be taken into account for raising DA is 4.95 per cent from January 1 to December 31, 2017. Since the government has already hiked the dearness allowance by 2 per cent in October last year from July 1, 2016, it will now raise it further by 2 per cent.

As per an agreed upon formula, the Centre hikes the allowance taking 12-month average of retail inflation. The government does not consider the price rise rate beyond a decimal point for deciding the rate of the dearness allowance.

Therefore, despite the fact that the hike works out to be 2.95 per cent, the government will ignore the rate of price rise beyond decimal point and increase the DA by 2 per cent.

The dearness allowance is paid as proportion of the basic pay of the central government employees. Kutty said that the federation in the next meeting of the national council would make a case for considering the fractions while fixing DA.

The national council is an apex forum functioning under the Department of Personnel and Training where unionists and senior official discuss issues concerning central employees.
Earlier last year, the government hiked DA by 6 per cent to 125 per cent of basic pay. The DA was later merged into the basic pay following the implementation of the 7th Pay Commission award.

At present the Central government employees and pensioners are entitled to 2 per cent dearness allowance, which was effected from July 1, 2016.

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