Friday, 22 May 2015

PFRDA Order: Incentive for mobilization and registration of subscribers under Atal Pension Yojana

PFRDA Order: Incentive for mobilization and registration of subscribers under Atal Pension Yojana
PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
1st Floor, ICADR Building, Plot No. 6.
Vasant Kunj Institutional Area,
Phase – II, New Delhi – 110070
No. PFRDAIAPY/4/62
19th May, 2015
To,
All Banks under APY
Sir,
Subject: Incentive for mobilization and registration of subscribers under Atal Pension Yojana.

I am directed to say that incentive structure for Banks to mobilize and register subscriber under Atal Pension Yojana has been under the consideration of PFRDA.

2. In consultation with the Department of Financial Services, Ministry of Finance, it has been decided that for mobilizing each account the Banks will be paid an incentive as per the table below:
i. Per capita incentive at Rs 100
ii. Incentive payable for promotion and development of APY:
S no Number of subscribers under APY with each Bank Incentive for promotional efforts (only for new accounts opened during the year)
1  Less than 1 lakh Rs 20/-
2 More than 1 lakh upto 3 lakh Rs 30/-
3 More than 3 lakh upto 5 lakh Rs 40/-
4 More than 5 lakh Rs 50/-

As Banks are expected to engage the Banking Correspondents (BCs) / Micro Finance Institutions (MFIs) / Non-bank aggregators to mobilize the subscribers, they can Share the incentives with such BCs / MFIs / Non-bank aggregators etc. in the ratio 50:50 :: Banks : BCs/MFIs/ Non-bank aggregators.
 
3. Banks are advised to contact aggregators for shifting of existing eligible Swavalamban subscribers to APY as per the scheme.
 
4. Payment of incentives to banks each year will be made after the completion of the financial year on receipt of funds from the government.

Yours sincerely,
(Purnima Sharma)
Dy. General Manager
Source: http://pfrda.org.in/WriteReadData/Links/Incentive%20Structure%20for%20APY5c598c21-5021-481a-8866-16213d2d1343.pdf

Scrapping of NPS, Upgradation of Post from Gp C to Gp B, Stepping of Pay of Loco Inspector etc: AIRF & NFIR writes to Member Staff, Railway Board

Joint letter of AIRF and NFIR: Scrapping of NPS, Upgradation of Post from Gp C to Gp B, Stepping of Pay of Loco Inspector etc: AIRF & NFIR writes to Member Staff, Railway Board for Joint Meeting.

No. II/NFIR/95/Part VII
Dated: 19/05/2015
Shri Pradeep Kumar
Member Staff,
Railway Board,
New Delhi

Dear Sir.
Sub: Joint letter of AIRF and NFIR -reg.

The Federations seriously disappointed over non-finalisation of issues in spite of discussion held at lower level on a number of occasions. Even he agreed issues in the full Board Meeting held on 7th February 2014, have not been implemented (eg stepping up of pay of Loco Inspectors appointed prior to 01/01/2006 and upgradation of Apex level Group ‘C’ posts to Group ‘B’ Gazetted- 3335 posts).

While conveying unhappiness over procrastination of matters, we list below the issues which are needed to be settled at the earliest. Incidentally, it is mentioned that a few issues agreed to during
discussions in the Fast Track Committee Meetings are yet to be complied with:-

Issues:
  • Induction of Course Completed Act Apprentices against erstwhile Group ‘D’ vacancies in Safety and other categories.
  • Exemption of Railways from New Pension Scheme – Hon‘ble Minister for Railways sent proposal to Finance Minister on 29’h March 2014 and thereafter the Railway Board has sent reminder to the MoF,
  • Absorption of Quasi-Administrative Units staff against erstwhile Group ‘D‘ vacancies Railway Board have arbitrarily cancelled the policy decision issued in 1973 and 1977, Since then the Federations have been pressing for restoration of policy. The subject has been dealt with in the DC/NCM meeting also vide item No. 27/2006 & 12/2012. Also the subject was discussed in the meeting held by the Full Board on 7th Feb. 2014. Unfortunately. there has been no satisfactory finalisation of this item.
  • Upgradation of Apex level Group ‘C‘ posts to Group ‘B‘ Gazetted (3335 posts) – implementation of agreement dated 7th Feb 2014 is yet to be ensured.
  • Stepping up of pay of Loco Inspectors appointed prior to 01/01/2006. Although agreed in the Full Board meeting. the decision has not been implemented yet.
  • Though instructions have been issued by the Railway Board for inclusion of a few additional categories of safety categories of staff in GP 1800 under LARSGESS vide Railway Board‘s letter No. E(P&A)I-2010/RT-2 dated 24/03/2014, but unwarranted conditions like “working on tracks” have been shown even though these staff by virtue of working conditions perform Safety job.
  • Federations. therefore. urge upon the Member Staff to kindly fix Joint meeting at the earliest for frank discussions.
(Dr. M. Raghavaia)
General Secretary/NFIR
(Shiva Gopal Mishra)
General Secretary/AIRF
Source: NFIR
[https://drive.google.com/file/d/0B40Q65NF2_7UX05OX1FKX0tyOVU/view]

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