Friday, 3 January 2020

Rate of interest on various National Small Savings Schemes with effect from 1st January 2020

Rate of interest on various National Small Savings Schemes with effect from 1st January 2020

National Small Savings Schemes 2020 interest rate

Rate of interest on various National Small Savings Schemes with effect from 1st January 2020

SB Order No.01 /2020

F.No 113-03/ 2017-SB
Govt. of India Ministry of Communication
Department of Posts (F.S. Division)

Dak Bhawan, New Delhi-110001
Dated: 01.01.2020

All Head of Circles/ Regions
Addi. Director General, APS, New Delhi

Subject: Revision of interest rates for Small Savings Schemes w.e.f. 01.01.2020

The undersigned is directed to say that vide memorandum No. 01/04/2019-NS dated 31.12.2019 (copy enclosed), Govt. of India, Ministry of Finance, Department of Economic Affairs (Budget Division) have informed that the rate of interest on various National Small Savings Schemes for the fourth quarter of financial year 2019-20 ( starting from 1st January ,2020 and ending on 31st March, 2020) shall remain unchanged from those notified for the third quarter of Financial Year 2019-20 (01st October 2019 to 31st December, 2019). The details are indicated below for ready reference.

SI. No.InstrumentsRate of interest w.e.f. 01.10.2019 to 31.12.2019Rate of interest w.e.f 01.01.2020 to 31.03.2020 (Unchanged)Compounding Frequency *
01.Post Office Savings Account4.04.0Annually
02.1 Year Time Deposit6.96.9Quarterly
03.2 Year Time Deposit6.96.9Quarterly
04.3 Year Time Deposit6.96.9Quarterly
05.5 Year Time Deposit7.77.7Quarterly
06.5 Year Recurring Deposit7.27.2Quarterly
07.Senior Citizen Savings Scheme8.68.6Quarterly and Paid
08.Monthly Income Account7.67.6Monthly and paid
09.National Savings Certificate (VIII Issue)7.97.9Annually
10.Public Provident Fund Scheme7.97.9Annually
11.Kisan Vikas Patra7.6 (will mature in 113 months)7.6 (will mature in 113 months)Annually
12.Sukanya Samriddhi Account Scheme8.48.4Annually
3. It is requested to circulate it to all concerned for information and necessary guidance. Same may also be placed on the notice board of all Post Offices in public area.The necessary calculation tables will be supplied in due course on receipt from the DEA/ MoF.

Also check the previous Rates of small savings schemes for the year 2017-18

4. This issues with the approval of Competent Authority.

Yours Faithfully,
(Devendra Sharma)
Assistant Director (SB)

Payment of 7th CPC Leave Salary to the Running Staff - Railway Employees NFIR

Payment of 7th CPC Leave Salary to the Running Staff - Railway Employees NFIR


No.IV/NFIR/7th CPC (Imp)/ Allowance/2016/Part I
Dated: 27/12/2019

The Secretary(E),
Railway Board
New Delhi

Dear Sir,

Subject: Payment of Leave Salary to the Running Staff after implementation of 7th CPC recommendations-reg.

Ref: (i) NFIR’s PNM Items No. 47/2018 & 57/2016.
(ii) Railway Board’s letter No. E(P&A)II/2017/RS-22 dated 28/12/2018 (RBE No.2204/2018).
(iii) NFIR’s letter No. IV/NFIR/7th CPC (Imp)/Allowance/2016/Part II dated 12/01/2019, 18/03/2019, 28/05/2019 & 17/08/2019.

Federation invites kind attention of the Railway Board to the references cited above relating to payment of Leave Salary to the Running Staff pursuant to the implementation of the recommendations of 7th Central Pay Commission. Federation once again reiterates that though the Railway Board have issued orders vide RBE No. 204/2018 dated 28/12/2018 but, however, there is no clarity in the said orders regarding date of effect i.e. from 01/01/2016, consequently in the provision in IPAS, date of effect has been taken as 01/07/2017 and the Running Staff have been put to recurring financial loss for 18 months (from 01/01/2016 to 30/06/2017) leave salary. Though the Federation has been making efforts to persuade the Railway Board to set right the technical snag but however action to correct/up-date IPAS has no been taken yet with the result Federation continues to receive grievances from the Running Staff from Zonal Railways.

Also check: 7th CPC: Payment of leave salary to the running staff after the implementation of 7th CPC recommendations

NFIR, therefore, once again urges upon the Railway Board to kindly intervene and issue suitable instructions to all concerned to rectify/up-date the IPAS giving effect to the instructions vide RBE No. 204/2018 dated 28/12/2018 from 01/01/2016 repeat from 01/01/2016 and not from 01/07/2017.
Action taken in the matter may kindly be apprised to the Federation.

Yours faithfully
(Dr. M. Raghavaiah)
General Secretary

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