Book Your Train Reservation Ticket While on Move through Mobile Phone

Book Your Train Reservation Ticket While on Move through Mobile Phone No Need to Carry Ticket Print-Out, Mere Display of Message on Mobile is Sufficient during Travel To bring further convenience to the rail users, Indian Railways through Indian Railway Catering & Tourism Corporation (IRCTC), a Public Sector Undertaking under the Ministry of Railway, has been offering the service of booking e-ticket over the mobile phone. After initial registration and downloading of suitable software on the mobile handset with internet facility, it will be quite easy for the mobile users to book a reserve ticket through their own mobile. After booking, the passenger will receive a reservation message with full details of the ticket including PNR, Train No, date of journey, class etc. This virtual message would be treated at par with the print-out of the e-ticket which at present is taken out by the passengers and is known as Electronic Reservation Slip (ERS).  Hence, with the virtual message, passengers would not be required to take a print-out of e-ticket to be carried with them. Showing the reservation message of the confirmed ticket on their mobile during travel will be sufficient. The detail procedure of booking through mobile which is also available on the IRCTC website namely www.irctc.co.in,   is as follows:- ·        Indian Railway Catering & Tourism Corporation (IRCTC) offers the service of booking electronic ticket (e-ticket) over the mobile to rail users. ·        IRCTC’s Mobile Rail Ticket booking services are based on the webservicesmodel developed by IRCTC in order to enable the users of Mobile Phones to access the web based rail ticket reservation and enquiry services similar to www.irctc.co.in. ·        Application software has to be downloaded on to the mobile handset.  This software is provided by the respective service provider firms viz., NGPAY, PAYMATE and ATOM. The application can be downloaded from IRCTC website and also from various associates of IRCTC viz. NGPAY, ATOM, Paymate.  IRCTC is also likely to launch its mobile application shortly and the software will be downloadable from www.irctc.co.in. ·        These mobile applications are functional on most of the GPRS/Browser based mobile phones, from basic model to high end ones. ·        Internet is required on mobile phones to book tickets through mobile. ·        The Passenger has to register at the time of first transaction and thereafter book the ticket using his ID and password. ·        Whenever a passenger books a reserved ticket through Mobile phone, he will receive a message with full details of the ticket including PNR, Train No., date of journey, class, etc.  This virtual message would be treated at par with the print-out of the e-ticket which at present is taken out by the passengers and is known as Electronic Reservation Slip (ERS).  Hence, with this virtual message, passengers would not be required to have a printer with them to take a print-out of e-ticket to be carried with them. ·        The customer is charged ticket fare, IRCTC service charge and Agent service charge (Rs.10/- & Rs.20/- as per class of tickets) and applicable payment gateway charges. ·        The Service Charge is similar to e-tickets Rs.10/- for SL class and Rs.20/- for other higher class. ·        All the rules applicable to e-tickets are also applicable to the reserved tickets booked through Mobile phones except that in this case, the passenger can also show the virtual message received on mobile instead of carrying ERS. ·        More than a thousand users presently are availing this facility everyday. ASK/HK/LK/T R (Release ID :79323) Source : PIB dtd 03/01/2012

IFSC Code

SBI IFSC Code is also known as the Indian Financial System Code and it is a special 11 digit code assigned to each and every bank branch in the country. In this 11 digit code, the first 4 characters are the abbreviation of the SBI Bank. After the initial 4 characters, a control character follows in the fifth place and the last 6 characters are represented by the branch code of the bank. For instance, SBI Bank IFSC Code number for main branch in Kolkata is SBIN0000001. SBI IFSC Codes may be required when you are going to receive some payments from abroad such as depositing paypal funds into your bank accounts.

SBI IFSC Code ListCustomers of State Bank of India can easily get the IFSC code from their branch. They can also find the code number in their cheque leaf. Moreover, the simplest way is to visit the website of the bank and get the complete State Bank of India IFSC Code List for all the branches of the bank. The following is list of IFSC codes from some important SBI branches. 

Eg.
Chennai
Branch Name: ADYAR
IFSC Code: SBIN0001115

Website Address : http://www.banksdirectoryindia.com/search-ifsc-code.php

PPF an attractive option for all categories of Investors

For small investors, the Public Provident Fund (PPF) is one of the most trusted investment avenues. It is a 'must have' in the investment portfolio. The recent enhancement of limit and increase in interest rates has made this instrument even more attractive. The PPF offers safety, good returns, and tax savings . The interest earned on these deposits is tax free.

In the present volatile situation, where many stocks and funds are yielding negative returns, it is better to invest your hard earned money in safer bets such as the PPF. Due to the recent increase in interest rates on small savings schemes, the biggest beneficiaries are PPF investors. The interest rate is being increased from eight to 8.6 percent.

Moreover, the investment limit is being increased from the present Rs 70,000 to Rs 1 lakh. For investors who do not want to take risks or dabble in the stock markets, the PPF is the best option. Although the PPF is a preferred option of conservative investors, in the present-day market scenario, even aggressive investors may like to opt for this avenue.

The interest rate will be announced in the beginning of every financial year. The tenure of a PPF account is 15 years. After the initial 15 years, you can keep extending the deposit for five years at a time. In case a person starts contributing Rs 1 lakh every year, he can build a tax-free corpus of about Rs 31 lakhs over 15 years, if the interest rate remains 8.6 percent.

Even considering a marginal decrease or increase in the interest rate (of say between 8-9 percent range) the corpus may vary between Rs 29 lakhs and Rs 32 lakhs. With the enhanced investment limit from Rs 70,000 to Rs 1 lakh, you can earn an additional tax-free interest of Rs 2,580. On an investment of Rs 1 lakh, you can get a tax deduction of Rs 30,000 (if you are in the 30 percent tax bracket). The interest earned will be 8.6 percent on Rs 1 lakh, i.e. Rs 8,600.

So, considering the tax benefit under Section 80C, the effective interest return translates to almost 12.29 percent, and fully secured. PPF is a voluntary contribution by an individual. On maturity, the proceeds received are tax-free . Being a statutory scheme of the central government, it is fully secured. The interest is compounded annually. The deposit can be in a lump sum or in convenient instalments , but not more than 12 instalments in a year.

An account in which no deposits are made is treated as a discontinued account. A discontinued account can be activated by paying the minimum deposit along with a default fee for each defaulted year. A PPF account can be opened by an individual or a minor through a guardian. Those who are contributing to the GPF Fund or EDF account can also open a PPF account. No age is prescribed for opening a PPF account.

There is a facility of withdrawal in the seventh year of the account, subject to a limit of 50 percent of the amount at credit, in the preceding three years. Thereafter, one withdrawal in every year is permissible . Premature closure of a PPF account is not permissible except in case of death.

Source: ET

courtesy : centralgovernmentemployeesportal.blogspot.com

Revised Model Educational Loan Scheme for Pursuing Higher Studies in India and Abroad

Revised Model Educational Loan Scheme for Pursuing Higher Studies in India and Abroad
- Prepared by Indian Bank's Association

Introduction:

Education is central to the Human Resources Development and empowerment in any country. National and State level policies are framed to ensure that this basic need of the population is met through appropriate public and private sector initiatives. While government endeavour to provide primary education to all on a universal basis, higher education is progressively moving into the domain of private sector. With a gradual reduction in government subsidies higher education is getting more and more costly and hence the need for institutional funding in this area.

The scope of education has widened both in India and abroad covering new courses in diversified areas. Development of human capital is a national priority and it should be the endeavour of all that no deserving student is denied opportunity to pursue higher education for want of financial support. Loans for education should be seen as an investment for economic development and prosperity. Knowledge and information would be the driving force for economic growth in the coming years.

The Salient Features of the Scheme are as under:

Objectives of the Scheme :	The Educational Loan Scheme outlined below aims at providing financial support from the banking system to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student though poor is provided with an opportunity to pursue education with the financial support from the banking system with affordable terms and conditions. No deserving student is denied an opportunity to pursue higher education for want of financial support.
Applicability of the Scheme :	The scheme provides broad guidelines to the banks for operationalising the educational loan scheme and the implementing bank will have the discretion to make changes suiting to the convenience of the students/ parents to make it more customer friendly.
Student eligibility:	Should be an Indian National. Secured admission to professional/ technical courses in India or Abroad through Entrance Test/ Merit Based Selection process.
Courses eligible	a. Studies in India: (Indicative list) ·         Graduation courses : BA, B.Com., B.Sc., etc. ·         Post Graduation courses : Masters & Phd. ·         Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc. ·         Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university. ·         Courses like ICWA, CA, CFA etc. ·         Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc. ·         Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority. ·         Courses offered in India by reputed foreign universities. ·         Evening courses of approved institutes. ·         Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc. ·         Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions. ·         Courses, which are not covered under the criteria mentioned above, individual banks may take a view to consider extending. ·         education loan under the scheme taking into account the future prospects/recognition by user institution. b. Studies abroad :- ·         Graduation : For job oriented professional/ technical. ·         courses offered by reputed universities. ·         Post graduation: MCA, MBA, MS, etc. ·         Courses conducted by CIMA- London, CPA in USA etc.
Expenses considered for loan	·         Fee payable to college/ school/ hostel. ·         Examination/ Library/ Laboratory fee. ·         Purchase of books/ equipments/ instruments/ uniforms. ·         Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course. ·         Travel expenses/ passage money for studies abroad. ·         Purchase of computers - essential for completion of the course. ·         Insurance premium for student borrower. ·         Any other expense required to complete the course - like study tours, project work, thesis, etc.
Quantum of Finance	Need based finance subject to repaying capacity of the parents/ students with margin and the following ceilings. Studies in India - Maximum Rs.10.00 lacs. Studies abroad - Maximum Rs.20 lacs
Margin	Studies in India Upto Rs 4 lacs Nil Above Rs. 4 lacs : Studies in India 5% Studies Abroad 15% Scholarship/ assistantship to be included in margin. Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis.
Security	Upto Rs 4 lacs Co-obligation of parents. No security Above Rs.4 lacs and upto Rs7.5 lakhs Co-obligation of parents together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, waive third party guarantee if satisfied with the net-worth / means of parent/s who would be executing the document as "joint borrower". Above Rs.7.5 lakhs Co-obligation of parents together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments Note:- ·         The loan documents should be executed by both the student and the parent/ guardian as joint-borrower. ·         The security can be in the form of land/ building/ Govt. securities/ Public Sector Bonds/Units of UTI, NSC, KVP, life policy, gold, shares/mutual fund units/debentures, bank deposit in the name of student/ parent/ guardian or any other third party with suitable margin. ·         Wherever the land/ building is already mortgaged, the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount. ·         In case the loan is given for purchase of computer, the computer has to be hypothecated to the Bank.
Rate of Interest	Upto Rs 4 lacs BPLR Above Rs. 4 lacs BPLR + 1% Simple interest to be charged during the Repayment holiday/ Moratorium period. Penal interest to be charged as applicable to individual banks.
Appraisal/ Sanction/ Disbursement	In the normal course, while appraising the loan the future income prospects of the student will be looked into. However, where required, the means of parent / guardian could also be taken into account to evaluate re-payment capability. The loan to be sanctioned as per delegation of powers preferably by the Branch nearest to the place of residence of parents. No application for educational loan received should be rejected without the concurrence of the next higher authority. The loan to be disbursed in stages as per the requirement/ demand directly to the Institutions/ Vendors of books/ equipments/ instruments to the extent possible.
Repayment	Repayment holiday/ Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier. The loan to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time, extension of time for completion of course may be permitted for a maximum period of 2 years. If the student is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extensions as may be deemed necessary to complete the course. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments (EMI) fixed. 1% interest concession may be provided for loanees if the interest is serviced during the study period when repayment holiday is specified for interest/ repayment under the scheme.
Insurance	Banks may arrange for life insurance policy on the students availing Educational Loan. Individual Banks may work out the modalities with insurance companies
Follow up/ Tracking	Banks to contact college/ university authorities to send the progress report to the bank at regular intervals in respect of students who have availed loans. In case of studies abroad, bank may obtain the Unique Identification Number (UIN)/Identity Card and note the same in the bank's records.
Processing Charges	No processing/ upfront charges may be collected on educational loans for studies in India.
Capability Certificate	Banks can also issue the capability certificate for students going abroad for higher studies. For this purpose financial and other supporting documents may be obtained from applicant, if required. Some of the foreign universities require the students to submit a certificate from their bankers about the sponsors' solvency/ financial capability, with a view to ensure that the sponsors of the students going abroad for higher studies are capable of meeting the expenses till completion of studies.)
Other Conditions	a. Meritorious Students Banks which wish to support highly and exceptionally meritorious/ deserving students without security may delegate such powers to a fairly higher level authority. b. Multiple Loans In case of receipt of application for more than one loan for student borrower from a family, the 'family' as a unit has to be taken into account for considering the loan and security taken in relation to the total quantum of finance disbursed, subject to margin and repaying capacity of the parent/student. c. Minimum Age There is no specific restriction with regard to the age of the student to be eligible for education loan. d. Change of Address In cases of student staying with parents and where such parents have transferable jobs or there is change in address, the bank may provide in the system of noting the "address for correspondence" for tracking purpose. e. Top up loans Banks may consider top up loans to students pursuing further studies within the overall eligibility limit, with appropriate re-schedulement, subject to taking required security. f. Co-obligator The co-obligator should be parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/parents-in-law. No Due Certificate No due certificate need not be insisted upon as a pre-condition for considering educational loan. However, banks may obtain a declaration/ an affidavit confirming that no loans are availed from other banks. Disposal of Applications Loan applications have to be disposed of within a period of 15 days to 1 month, but not exceeding the time norms stipulated for disposing of loan applications under priority sector lending. Flexibility in terms In order to bring flexibility in terms like eligibility, margin, security norms, banks may consider relaxation in the norms on a case-to-case basis delegating the powers to a fairly higher level authority.
Tax benefits	Deduction is available under section 80E of Income Tax Act for any amount paid in the previous year by an assessee out of his income chargeable to tax, by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursuing his higher education or for the purpose of higher education of his relative (spouse and children).
For further clarifications/ details, please Click Here

Postal Life Insurance-some useful informations to customers

Postal Life Insurance

This section is for information and guidance of our customers. We are happy to furnish following information for your guidance.  

1.         Issue of Policy Bonds 

Policy Bond is issued along with letter of acceptance by PLI office of your state. If there is delay, contact DDM(PLI)/ADM(PLI) of your state.
Please go through information printed on the policy bond.

2.         Payment of Premia  

Please keep your policy current by paying premia regularly within the same month to ensure the coverage of life risk. You can pay premia at any predetermined Post Office.  

3.         How to revive your Policy 

In case policy is of less than three years duration and defaulted premia do not exceed six months including the month of payment, the same can be paid with interest at your Post Office without prior permission.
To pay defaulted premia of more than six months, prior permission is required as enumerated  below.

In case policy is of more than three years duration and defaulted premia do not exceed 12 months, the same can be paid with interest at your Post Office without permission;If defaulted premia exceed 12 months, prior permission is required as enumerated below.

PLI office in your State should be contacted for revival. That Office shall send the required forms for furnishing medical certificate, a declaration by you and an employer's certificate. These forms duly filled in should be sent to PLI Office along with proof of payment of premia. In support of the same ,premium receipt book or its Xerox copy may be enclosed if premia are being paid in cash and if it is being recovered from the salary, a certificate from the Pay Drawing Officer may be enclosed. 

4.         Payment of Premia through Cheque   

Payment of premia is accepted through local cheque only.

 5.         Payment of Premia in advance  
 The rebate of 1% is given if premia are paid in advance for six months and 2% if paid for 12 months in advance.  

6.         Post Office where Premia can be paid                                   
You may pay premia at any post office chosen by you. However, following is advised:

 When Post Office where premia  are paid is a new one, intimation be given to Head Post Office

 In case premia  are  paid in a Post Office in a new State/Postal Circle, intimation to PLI Centers of    both the new and old State be given

7.         How Loan can be taken  
 Loan facility is available only in Endowment Assurance and Whole Life Insurance (including Convertible Whole Life Insurance)  provided it has not lapsed. In order to avail loan, an application should be sent to the PLI office along- with the policy document and a proof for having paid the premia up to date (Premium Receipt Book or Drawing Officer’s Certificate  for last six months). It may be sent free of cost through the Post Office where your premia are being paid. It is mandatory to assign the policy bond in favour of the President of India and to furnish loan bond at the time of payment.            The prevailing rate of interest on loan is 10%, compounded half yearly.  A loan repayment receipt book is given when loan is sanctioned wherein half yearly interest payable ,is indicated. Please ensure that the interest is paid on due date and avoid compounding of interest as also possible surrender.                       The loan may be paid in permissible  number of instalments of any amount not less than INR 100/-.

When loan is completely repaid with interest, please write to the PLI office immediately for release of policy bond in your favour. Second and subsequent loans may be availed on certain conditions. However, at least one year should have lapsed after repayment of the first loan.

Loan may be repaid at any Post Office in your State.

8.         Issue of Duplicate Policy Bond 

Please preserve the policy bond  safely  which is an important document . In case it is lost, destroyed or mutilated, a duplicate policy bond can be obtained by complying with following requirements. An indemnity Bond be furnished with two sureties on a non-judicial stamp paper of the value applicable in the state in which policy is serviced.                       

The  fee for  issue of duplicate policy bond is INR 5/-.

The loss of policy is required to be published in one of the leading news papers having the widest circulation if the sum assured exceeds INR 25,000/-.

9.         Assignment of Policy Bond           The policy may be assigned by the Policy holder either for valuable consideration or by way of gift.

10.       Change of Nomination
 Facility for change of nomination is available.

11.       How to Submit Claim  

Please take note of the due date of payment. In all such cases, please prefer the claim well in advance, after payment of last instalment due, submitting -
(1) Policy Bond;
(2) Premium Receipt Book in support of the premia paid;
(3) Loan Repayment Receipt Book, if you have availed the loan;
(4) A Pay Drawing Officer's certificate for having paid the premia upto last instalment including the last six months;
(5) Please prefer the claim without waiting for a notice or reminder from PLI office;
(6) Please also note that if claim is not preferred in time, no interest is paid on belated payment.


Courtesy : http://nfpealuvadivision.blogspot.com

Railways to Accept “Aadhaar” as Additional Identity Proof for E-Ticketing & Tatkal Scheme

As “Aadhaar” is covered under the heading ‘Photo Identity Card Issued by Central/State Government’, the Ministry of Railways has decided to specifically incorporate and indicate “Aadhaar” as one of the proofs of identity acceptable for undertaking journey on e-tickets as well as under Tatkal scheme. Hence, the number of proofs of identity to be accepted for undertaking journey on e-tickets as well as under Tatkal scheme will now become 9 (nine) as mentioned below:

(i) Voter Photo Identity Card issued by Election Commission of India. 
(ii) Passport
(iii) PAN Card issued by Income Tax Department
(iv) Driving License issued by RTO
(v) Photo Identity Card issued by Central/State Government
(vi) Student Identity Card with photograph issued by recognized School/college for their students. 
(vii) Nationalized Bank Passbook with photograph 
(viii) Credit Cards issued by Banks with laminated photograph and
(ix) Unique Identification Card “Aadhaar” 


Source : PIB dtd 19/12/2011

BSNL : Choose Your Mobile Number Online Goes Pan India

The following are the GSM Prepaid Mobile Numbers available for release:- 
(The Numbers can be scrolled or searched for selecting the choice Numbers. Maximum selection is limited to One Only)

	Chennai Telecom Circle anounces the release of Prepaid GSM Mobile Numbers to the customers by choice.
	1) The Customer can select any One GSM Mobile number of his choice from the available numbers. On his/her selection of choice number (Max. No 1) the customer will get an SMS with a PIN of 7 Digits Valid for 96.hrs Only. The customer need to input the 7 digit PIN in the web site confirming the selection is over and taken.
	2) Now the customer is free to approach the nearest Customer Service Center or Franchisee and inform him the Mobile Number and PIN received to get the selected choice number accross the counter by submitting the requisite Documentsand completing the formalities of release of New Connection Click Here to Select your new Mobile No: http://sancharsoft.bsnl.co.in/

Some Useful Websites to Get Details of Laptops, Mobiles and Books

VIEW LATEST PRICE LIST  ALL TYPES OF LAPTOPS

VIEW LATEST PRICE LIST  ALL TYPES OF MOBILES

GET ALL TYPES OF BOOKS THRO ONLINE