LATEST NEWS: Department of Posts is going to introduce CBS banking in all the Post Offices of India. A few of the Post Offices have already implemented CBS. For our family of Post Office Agents, the matter of concern is that the submission of ASLASS-6/Schedule/Batch will have to be submitted online also along with the print copy. As per the reports, the Post Office will implement CBS in all Head Offices by the end of July-2014.
We, at Milestone, are developing a new utility/patch in our already running software POWERAge. The utility is near completion and is expected to be launched by 24-July-14.
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Important News: W.E.F 01-Apr-14, the government has increased interest rates on a range of popular post-office saving schemes in an apparent move to make small savings more rewarding for millions.
Click here to download Post Office SB Order/Notification
The rate of return on fixed deposits for one and two years has been increased to 8.4% from the present 8.2%. Similarly, fixed deposits of three and five years have been raised by 0.1 percentage point to 8.4% and 8.5%, respectively. The interest rate on five-year recurring deposits has also been raised to 8.4%, up from 8.3%. The new rates are effective from April 1, 2014. Post office savings accounts (POSA) continues to fetch 4% interest per annum and the annual investment ceiling in PPF savings and interest rate has been kept unchanged at Rs. 1 lakh and 8.7% respectively. The interest rate on National Savings Scheme (NSC) with 5 and 10 year maturities also remain unchanged at 8.5% and 8.8%, respectively. The rates on five-year Monthly Income Scheme (MIS), the popular PPF (public provident fund) have, however, been kept unchanged at 8.5% and 8.7% respectively and the senior citizen savings schemes of a five-year tenure has been kept unchanged at 9.2%.
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Download Post Office SB Order/Notification
