HOUSE BUILDING ADVANCE for Central Government Employees

HOUSE BUILDING ADVANCE for Central Government Employees

HOUSE BUILDING ADVANCE

  

Housing Loan for Central Government Employees…

General Rules for HBA :-
The advance granted to all permanent Central Government Employees.
The advance granted, who has completed minimum 10 years continuous service.
The advance granted for construction / purchase of house / plot.
The advance granted for purchase of ready-built house / flats.
The advance granted for buying a plot or flat under Co-operative Schemes.
The advance granted for enlarging existing accommodation.
The advance granted for purchase of houses / flats under Self Financing Housing Schemes and Co-operative Group Housing Schemes.

General Conditions for HBA :-
Employees should not have availed of any loan or advance for the purpose from any other Government sources.

Employee or spouse or minor child should not already own a house.

Cost Ceiling :-
Cost of the house (excluding cost of the land) should not exceed 134 times of the Basic Pay, subject to a minimum of Rs.7.5 lakhs and a maximum of Rs.18 lakhs. (If both husband and wife are working central government services, the pay of both of them will be taken into consideration for calculating the cost ceiling).

Sanction Amount :-
The amount of House Building Advance admisssiable for employees is 34 times of the Basic Pay or Rs.7.5 lakhs or cost of the building or repaying capacity, whichever is least.

RATE OF INTEREST :-
(Note: No interest is chargeable beyond the date of retirement / death of the Government Servant.)

HBA sanctioned amount	26-7-90 to 15-12-97	16-12-97 to 31-3-2001	1-4-2001 to 31-3-2002	1-4-2002 onwards
Rs. 25,000/-	7.5%	7.5%	6.5%	6%
Rs. 50,000/-	7.5%	7.5%	6.5%	6%
Rs. 75,000/-	9%	9%	8%	7.5%
Rs. 1,00,000/-	9%	9%	8%	7.5%
Rs. 1,25,000/-	10%	9%	8%	7.5%
Rs. 1,50,000/-	10%	9%	8%	7.5%
Rs. 2,00,000/-	11%	11%	10%	9.5%
Rs. 2,25,000/-	11.5%	11%	10%	9.5%
Rs. 2,50,000/-	12%	11%	10%	9.5%
Rs. 5,00,000/-	….	11%	10%	9.5%
Rs. 7,50,000/-	….	12%	11%	10.5%

(Note: The advances carry interest from the date of payment of the first installment and is calculated on the balance outstanding on the last day of each month.)

Income Tax Rebate for HBA :-
Repayment of Principal sum of H.B.A. is exempt u/s 88 of Income Tax Act.
Exemption for Interest portion of HBA is admissible up to maximum of Rs. 1,50,000/-.
If any individual has drawn House Building Loan from any other financial institution, at the end of the year he should obtain a certificate from that financial institution showing repayment of loan details. In that repayment of Principal sum and Interest portion should be clearly mentioned. Accordingly income tax rebate can be taken on principal sum and interest sum.
Interest is calculated on the balance of HBA outstanding on the last day of the month i.e. on the IBB just like calculation of interest on advance for purchase of conveyance, etc.
Interest on H.B.A. is exempt u/s 24(b) of Income Tax Act.


Family Planning Concession for HBA: –
Concessional interest to Central Government Employees for promoting Small Family Norms. – The rate of interest will be half per cent less for an employee who undergoes sterlization.

Rate cut: Government to take a fresh look at small savings interest

Rate cut: Government to take a fresh look at small savings interest

The government has decided to review the small savings rates, which remain sticky at 8.4-8.5%, limiting banks' ability to lower deposit rates and slowing down the transmission of Reserve Bank of India's softer monetary policy decisions.

"It has been decided that with regard to the transmission of the rates, the government will undertake a review of the small savings rate also," economic affairs secretary Shaktikanta Das said."Small savings is a decision the government has taken in response to the policy rate announced by the RBI," he said.

The decision to cut small savings rates is a tricky one since no ruling party wishes to become unpopular to the vote bank they depend upon. However, lowering of the small savings rates is directly linked to the rates at which companies borrow from banks. "There is no time limit. We will do it in due course," finance minister Arun Jaitley said. RBI governor Raghuram Rajan surprised all by a 50 basis points repo rate reduction but doubts prevail on how banks across the spectrum transmit the easy policy rate into lowering of lending rates unless they manage to soften deposit rates. RBI has reduced repo rates by 125 bps since January, yet the transmission of the rate cuts into the real economy has been relatively weak.

Rajan indicated that there would be a shift in focus from policy rates to greater transmission of these rates. Banks reduced deposit rates aggressively over the last three quarters with some lowering term deposit rates by 50-75 bps but matching cuts in lending rates come with a lag. But they have time and again whined that high interest rates on small savings such as public provident fund or post office monthly income schemes are stopping them from lowering deposit rates beyond a point and this inability prevents them from making loans cheaper.

Senior citizens get 9.3% from post offices, 100-130 bps higher than what they get from most state-run banks. "A major part of small savings comes from the risk averse segments and for them it is the means of subsistence. It (lowering small savings rate) is easier said than done," said India Ratings managing director Ananda Bhowmik. "So, the transmission of policy rate will continue to be an issue. Historically, monetary transmission remains limited to 25-40% of policy rate cuts. It may increase a bit but not beyond 50% due to the structural bottlenecks," he said. The country's largest bank, State Bank of India, cut deposit rates by 25 bps across maturities effective from October 5.

Its medium-term deposit rate is 7.75% at present while small savers enjoy 8.4% rate for deposits below five years from post offices and for the popular monthly income scheme. Public provident fund offers 8.7% rate a year.

Source : The Economic Times

SB Order 11/2015 : Acceptance of Passport, Aadhar card and PAN card as a valid document for age proof of girl child for opening of SSA

SB Order 11/2015 : Acceptance of Passport, Aadhar card and PAN card as a valid document for age proof of girl child for opening of SSA

New GDS recruitment process wef 1.4.2015 has been cancelled. Now the old process reverted back.

Wednesday, September 30, 2015

CONFEDERATION OF CENTRAL GOVT EMPLOYEES & WORKERS

ALL INDIA WOMEN’S WORKSHOP

2015 OCTOBER 9^TH TO 10^TH

HYDERABAD

*************VENUE:

MEHDI MANZIL, INCOME TAX QUARTERS,

ROAD NO. 12, BANJARA HILLS, HYDERABAD

PROGRAMME:

09^TH OCTOBER 2015, FRIDAY

08.30 AM                         :           Registration of delegates
10.00 AM                         :           Flag hoisting & Homage to Martyrs.10.30 AM                         :           INAUGURATION AND CLASS - I
Welcome address           :           Com. V. Nageshwara Rao, General Secretary, C-O-C, Andhra &

                                                   Telangana

Presided by                    :           Com. Usha Bonepalli, Chairperson, Women’s Sub Committee,

                                                   Confederation
Inauguration by              :           Com. K. Hemalatha, Convenor, All India Working Women’s

                                                   Cordination & National Secretary, CITU

Subject                           :           INDIAN WORKING CLASS- CHALLENGES AND OUR TASK
12.00 AM                         :           CLASS – II (OPEN SESSION)

Class by                          :           Prof.. G. Haragopal (ICSSR, National Fellow, TATA Institute of

                                                   Social Sciences,

                           Visiting Prof.., National School of Law, Bangalore)

Subject                           :           NEW LIBERAL ECONOMIC MODEL - WOMEN

01:30 PM                         :           Lunch

03:00 PM                         :           CLASS – III

Class by                          :           Ms. Shyama Sundari (Advocate, Supreme Court)

Subject                           :           LEGAL AWARENESS ON WOMEN’S LAW

05:30 PM                         :           Cultural Programme

                                      

10^TH OCTOBER 2015, SATURDAY

10.00 AM                         :          CLASS - IV
Presided by                      :           Com. R. Seethalakshmi, Convenor, Women’s Sub Committee,

                                                   Confederation

Class by                          :           Com. M. Girija, Asst General Secretary, All India Insurance

                                                   Employees Association
Subject                           :           Role of Women in Trade Union and Society
01.00 PM                         :           Lunch02.30 PM                         :           INTERACTIVE SESSION - CLASS V
Subject                           :           7th Pay Commission and Role of Confederation

                                                   National Leaders of Confederation will participate

04.15 PM                         :           Workshop Review

04.30 PM                         :           Vote of thanks
                           Com: Manushi Choudhary (Women’s Sub Committee, Hyderabad)

05.00 PM                         :           End

K. K. N. Kutty                              R. Seethalakshmi                                         M. Krishnan    

President                                    Convenor, Women’s Committee                   Secretary General

DA orders issued by DOP

DA orders issued by DOP

8th Bi-ennial Conference of AIPEU Group-C and Postmen & MTS, Berhampur Divisional Branch held from 26.9.15 to 28.9.15

8th Bi-ennial Conference of AIPEU Group-C and Postmen & MTS, Berhampur Divisional Branch held from 26.9.15 to 28.9.15

Dear Comrades,

The 8th Bi-ennial Conference of AIPEU Group-C and Postmen & MTS, Berhampur Divisional Branch held from 26.9.15 to 28.9.15.

Snapshots of the Event:-

ALL INDIA POSTAL EMPLOYEES UNION-GDS (NFPE)

(Associate Member of National Federation of Postal Employees)

CHQ: Dada Ghosh Bhawan, 2151/1, New Patel Road, New Delhi - 110008

  President: Bijoy Gopal Sur                                          e-mail : aipeugdsnfpe@gmail.com

 General Secretary:     P. Pandurangarao   Website:http://www.aipeugdsnfpe.blogspot.com

Circular No.01                                                                                            Date :25-09-2015

Dear Comrades,

Festival & Seasonal Greetings and congratulations to all of you

Our 2^nd All India Conference was concluded with the constructive resolutions leading towards the emancipation of our cadre. It has given more inspiration and stimulation and also created a great confidence about the future of the GDS among the membership as well as the leadership of our NFPE and GDS (NFPE). The discussions and deliberations made by our GDS delegates are so much appreciated and valued and also directed the higher bodies to ensure to continue our struggle till the reach our goal ‘departmentalization of BOs & regularization of GDS’ organizationally and legally.

NFPE and our CHQ is abiding the directions of all the delegate comrades and representatives of all divisions of all the Circles and commenced our struggle programme immediately after the conclusion of our AIC by conducting a mass dhana at Jantharmanthar in New Delhi on 22-09-2015 demanding the settlement of our GDS demands organized by Postal JCA with the participation of both Secretary Generals of NFPE & FNPO and respective General Secretaries of all affiliated unions of both Federations along with 200 more participants. Even though the department urged and attempted by all means to cancel the dharna, PJCA decided to hold it and focused our resentment over the neglect of the Dept and Govt in resolving the issues of GDS and departmental employees.

The Govt, as expected, rejected the inclusion of GDS in 7^th CPC even after repeated attempts made by the Dept of Posts. The long pending demand of ‘cadre restructuring’ for departmental employees is kept doldrums. All other justified demands are being dragged in such a way to come out from the purview and the recommendations of 7th CPC. Even though the Central Pay Commission is ready to submit its report by 30^th September, the Govthas extended the date of submission of 7^th CPC up to 31^st December 2015. There is an ample time of 3 more months for the 7^th CPC panel to consider the demand of GDS by modifying the Terms of Reference.

Further the Postal JCA decided to go for strike from 23^rd November 2015 for ‘inclusion of GDS in 7^th CPC’ as the prime demand. Though there is a call of NC JCM (Railway, Defense & Confederation of CGE) for indefinite strike from 23^rdNovembers, irrespective of any decisions, Postal JCA is decided to go for indefinite strike from 23^rd November 2015 itself.

The foremost task of our GDS Representatives is to enlighten and educate the members by conducting meetings, giving much publicity about the demands of PJCA by circulars and pamphlets, hand billsfor circulation among the GDS members. Time left for our struggle is just few weeks. Unless we act swiftly, we cannot make the strike a grand success. I hope that every representative of our union from branch level to Circle level will take all out efforts to implement the decisions of CHQ and give much priority to implement the directions  of our All India Conference.

Comrades, our GDS cadre is already under pressure and is being exploited by various decisions taken by the department and the Govt viz., introduction of various BD activities with and without incentives, Direct Benefit Transfer Schemes without observing the basic conditions of the BOs and time factor and the work load, Reduction of allowances, combination of duties, no medical facilities, inadequate supply of amenities to BOs, imposing impracticable targets on various items of work etc.

We are ready to serve for the Department, for the people and the nation but it requires that we should be provided with adequate means of livelihood with the civil status in the department and society. We are being deprived of many facilities in the background of policy offensives and need to overcome all the hurdles created by various factors. This time our struggle is sacrifice oriented. Let us do or die. Let us prepare for that and to prove our ability, strength and militancy through our united struggles with NFPE and PJCA.                                                                             

Grand success of 2^nd All India Conference of AIPEU GDS (NFPE) SHIMLA

The 2^nd All India Conference of AIPEU GDS (NFPE) has been held on 19^th& 20^th September 2015 in Ram Mandir Complex, Shimla. It was a grand success with the participation of 483 GDS Delegates representing from 287 divisions and 17 Circles. 13 CHQ office bearers, 15 Circle Secretaries, 3 Mahila Committee Members attended. More than 70 GDS delegates deliberated in the session. It proved the expansion of our union and improvement in the divisions.

The Reception Committee deserved all appreciation for their hospitality and warm reception in making nice and good arrangements for the Guests, Invitees, Delegates and visitors. In fact, Shimla division situated in the small circle like Himachal had taken challenge to hold All India Conference for GDS (NFPE) union and also made it grand success which was witnessed by all. On behalf of our CHQ we extend our sincere thanks and greetings to the team of NFPE leaders and GDS comrades for their commitment and zeal over the organization and receptivity.

On 19.9.2015 at 10.30 hrs, the National flag was hoisted by Com K.V.Sridharan, Former General Secretary, P3 and the NFPE flag was hoisted by Com R.Sivannarayana. Our Union flag was hoisted by Com Gopal Sur, All India President in the midst of thundering slogans. Then the Delegate Session was inaugurated by Shri Sanjay Chauhan, Hon’ble Mayor, Shimla and Chairman, Reception Committee. Shri Nirmal Singh, Director of Postal Services, Shri T.R.Sharma, Member (Retd) Postal Services Board, Shri Singhal, SSPOs, Shimla, Shri K.L.Gautham, General Secretary, CoC, Shimla, Shri Rakesh Singh, Ex-MLA are prominent dignitaries attended and addressed.

Open session was inaugurated by Com. Tapan Sen, Hon’ble Member of Parliament & General Secretary, CITU. Com.K.K.N.Kutty, President, CCGEW, Com.R.N.Parashar, Secretary General, NFPE & General Secretary, Com.Giriraj Singh, President, NFPE & General Secretary, Com.K.Raghavendran, Former Secretary General, NFPE & General Secretary, AIPRPA, Com.K.V.Sridharan, Former General Secretary, AIPEU Gr.C& Leader JCM Staff-side, Com.R.Sita Lakshmi, General Secretary, P-4, Com.D.B.Mohanty, Dy. Genl. Secretary, P-4, Com.P.Mohan, General Secretary, AIPCPCCWF, Com.J. Ramamurthy, All India President, AIPEU Gr.C., Com.R.Sivannarayana, Former All India President, AIPEU GR.C., Com.Balwindersingh, Fin. Secretary, Gr.C-CHQ, Com RashminPurohit, Working President, P3 CHQ  and many leaders of affiliated unions, veteran leaders  Com.T.P Mishra(UP), Com.K.L.Verma (HP) also attended and addressed in the conference.

The following set of office bearers were elected unanimously for the ensuing period:

President	Com.Bijoy Gopal Sur (West Bengal)
Wkg President-1	Com.Asha V. Joshi (Gujrat)
-do-       -2	Com.Virendra Sharma (HP)	Mahila Sub Committee :
Vice President -1	Com.Nirmal Ch. Singh (Odisha)	Chairman:Com.Supravapaul (NE)
-do-        -2	Com.Gana Acharya (Assam)	Convener : Com.Yashmintaj (Karnataka)
General Secretary	Com.P.Pandurangarao (Andhra Pradesh)	Member : Com.B.Padmavathi (AP)
Dy. Genl. Secy	Com.R.Dhanraj (Tamilnadu)	Member : Com.Sulochana (HP)
Asst.Genl.Secy-1	Com.B.R.Jagdeesh (Karnataka)	Member : Com.Sali George (Kerala)
-do-      -2	Com.K.C.Ramachandran (Tamilnadu)	Member : Com.V.I.Lakshmi (TN)
-do-      -3	Com.Jaiprakash Singh(Uttar Pradesh)	Member : Com.Malini (Karnataka)
Fin. Secretary	Com.Kumaran Nambiyar (Kerala)	Member : Com.Kaladevirajak (MP)
Asst. Fin. Secy	Com.Harish Kumar (Punjab)
Orgg Genl. Secy          -1	Com.Sambhusingh Chauhan (Rajasthan)
-do-     -2	Com.Chandra N. Chaudhary (Bihar)
-do-      -3	Com.Supravapaul (North East)

The Annual Report and Audited Accounts, Policy & Programme, enhancement of union subscription from Rs.10- to Rs.20- per member/month and some important resolutions were adopted unanimously.

Our CHQ thanking all the Guests, Invitees, delegates, visitors for their immense participation in the 2^nd All India Conference of AIPEU GDS (NFPE) in Shimla and made it a grand success.

Yours fraternally,

(P.PANDURANGARAO)

General Secretary