EPFO resumes investment in scam-hit LIC Housing Finance

 

Retirement fund manager EPFO's trustees today approved a proposal to resume investment in the scam-hit LIC Housing Finance, a subsidiary of the country's largest insurance company Life Insurance Corporation.

The decision to resume investment in the LIC Housing Finance was taken at the meeting of the Central Board of Trustees (CBT), the apex decision-making body of the Employees' Provident Fund Organisation (EPFO).

The CBT had suspended investment in housing finance company following disclosure of the bribe-for-loans scam in November 2010 in which top officials of the LIC Housing Finance were allegedly involved.

"Amount invested in LIC Housing Finance is not much...approved investment is only about Rs 800 crore," CBT member and Secretary All India Trade Union Congress D L Sachdev told reporters after the CBT meeting.

The EPFO had invested Rs 454 crore in the bonds of LIC Housing Finance Company.

source-pti

Initiatives to improve service delivery to GPF subscribers

 

To improve the service delivery to GPF subscribers Interactive Voice Response System (IVRS) and Website were launched in January 2009. Through IVRS subscribers can access information such as Opening Balance, Closing Balance, Current Balance, Advance details etc. over phone.

On website apart from all the information available over IVRS, GPF Status for last 3 years, Missing Credit/Debit details, last year GPF statement, is also available.

For Retired employees ,status of their Final Payment cases has been made available on website to avoid any inconvenience.

To further improve the service delivery, SMS to GPF subscribers was inaugurated by Hon'ble Chief Minister on 27-01-2011.

http://informatics.nic.in/onlinenews.php?newsid=1270

Non-relieving of CSS officers under transfer on Rotational Transfer or on Promotion — reg

No.21/1/2011-CS. I (P)
Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training

Lok Nayak Bhawan, New Delhi
Dated the 14TH February, 2011

OFFICE MEMORANDUM

Subject: Non-relieving of CSS officers under transfer on Rotational Transfer or on Promotion — reg.

This has reference to the notification NO.1/8/09-CS.I (P) dated 17.9.2010 amending Rule 19 of CSS Rules 2009 prescribing the time limit of 45 days within which CSS officers under transfer, either on Rotational Transfer or on promotion, must be relieved of their duties in their present Ministries/Departments. It was also laid down in the CSS (Amendment) Rules 2010 that if an officer is not relieved within forty-five days or such further period as referred to in sub-rule (1). the officer shall be deemed’ to have been relieved by the cadre-unit in which he is working and thereafter the officer shall not be entitled to draw any salary and allowances for the period of such overstay from the cadre unit from where the cadre officer was transferred.

2. It is noticed that some of the Ministries/Departments are not complying with the provision of the amended Rule 19 of CSS of 2010 on the pretext that references have been made by them to this Department against the transfer orders.

3. While every effort is made to immediately reply to the aforesaid references against transfers, it is sometimes not possible to do so due to a large number of such references being received in DOP&T.

4 Mere references being made to DOP&T against such transfer/promotion orders by some cadre units cannot be taken as a plea for non-implementation of DOP&T’s orders within the prescribed time limit. It is, therefore, once again reiterated that in case a reply from this Department. extending the time limit for relieving of the officer is not received, the Ministries/Departments must relieve the concerned officers within the original time limit.

5 This may please be noted for strict compliance by all Ministries/Departments.

6.This issues with the approval of secretary(p)

(M.C. Luther)
Director (CS.I )
Tel.No.24629411

Get original copy-http://persmin.gov.in