AIRF to hold nation wide protests against Govt. for not implementing Allowances

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AIRF to hold nation wide protests against Govt. for not implementing Allowances

PFRDA conducts workshop on National Pension System (NPS)

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PFRDA conducts workshop on National Pension System (NPS)

Press Information Bureau 
Government of India
Ministry of Finance

09-June-2017 18:32 IST

PFRDA conducts workshop on National Pension System (NPS) for Corporates in coordination with FICCI at Ahmedabad; Overall number of NPS and APY subscribers have crossed 1.60 crores with overall Asset under Management (AUM) of more than 1,87,000 crores. 

Pension Fund Regulatory Development Authority (PFRDA) in its endeavor to promote NPS among the Corporates have embarked upon conducting NPS Workshops at various locations across the country. A Corporate Meet was conducted at Ahmedabad,Gujarat today in association with Federation of Indian Chambers of Commerce and Industry (FICCI), Gujarat State Council.

Addressing the participants, Shri Akhilesh Kumar, Deputy General Manager, PFRDA informed them about the longevity scenario across the world and the need of pension in old age and sounded the importance of pension to be considered by everyone. National Pension System (NPS) promoted by the Central Government provides the platform to every segment of the society for savings for retirement and briefed the contours of NPS for old age income security. He requested the participants to utilize this meet for better understanding of NPS and implementing the same in their respective organizations. He highlighted the key factor of low cost pension product – NPS for a valuable pension in the old age. 

Shri Kumar Sharadindu, MD & CEO, SBI Pension Fund Management Company Limited briefed the role of the Pension Funds under NPS architecture and the benefits of long term investment and the optimal return being generated by the Pension Fund following the investment guidelines issued by PFRDA.

Dr Param Shah, Head, FICCI Gujarat State Council in his welcome address lauded the efforts of PFRDA for organizing such meetings across the country and creating awareness about NPS which can be effective platform for corporates to provide pension to their employees.

As on 09th June 2017, more than 6.09 lacs employees of 3,593 Registered Corporates have joined NPS under NPS Corporate Model. More than 4.62 lacs subscribers have joined NPS under NPS-All Citizen Model. The overall number of NPS and APY subscribers have crossed 1.60 crores with overall Asset under Management (AUM) of more than 1,87,000 crores.

More than 80 participants from around 50 corporates attended the workshop. Ahmedabad / Gujarat based POPs were also present for the workshop. PFRDA official gave a detailed presentation on NPS and informed the participants about the features, benefits and the process of joining NPS to the employees as well as to the employers. Official of Deloitte Haskins & Sells LLP gave a presentation on Tax benefits of NPS as compared to other financial products. Two Ahmedabad based Registered Corporates- namely Adani Power and Arvind Limited, informed the participants about their experience of facilitating NPS to their employees and the need and benefits of implementing NPS in the organization.

            PFRDA officials clarified the queries regarding joining of NPS, tax benefits, POPs details, timelines, transfer of superannuation fund to NPS, annuity etc to the participants.

            The recent developments under NPS-Private Sector (All citizen and Corporate) are listed below:
        i.            Process of Transfer of Superannuation / Recognised Provident Fund to National Pension System.
      ii.            Allowing option to change the investment choice or asset allocation ratio  twice in a financial year 
    iii.            Dispensing of requirement of submission of physical application form in case of subscriber opening account online and e-Signing the document.
    iv.            Introduction of Alternative Investment Fund-a separate class of Asset “A”
      v.            Introduction of two new life cycle funds (LC 75 and LC 25)
    vi.            Under Tier-I account, minimum contribution requirement in a financial year is reduced from Rs 6,000/- to Rs 1,000/-
PFRDA’s endeavor is to significantly scale-up these segments during the ongoing months.

Penury Grant to Non-Pensioner Ex-Servicemen - Widows Enhanced

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Penury Grant to Non-Pensioner Ex-Servicemen/Widows Enhanced 

The government has enhanced penury grant to non-pensioner Ex-Servicemen/Widows to Rs. 4,000/- per month from the existing rate of Rs. 1,000/- p.m., payable from April 2017. The Defence Minister Shri Arun Jaitley approved the enhancement of the penury grant following the demands by different stake holders, including Ex-servicemen Associations, Rajya Sainik Boards, Ex-servicemen/widows. Recently, the Governor of Jammu and Kashmir, Shri N N Vohra had also sent a proposal to Shri Jaitley to increase the amount to Rs. 4,000/-. 

The penury grant is provided to non-pensioner Ex-servicemen/widows, who are above 65 years of age by the Department of Ex-Servicemen Welfare, Ministry of Defence through Kendriya Sainik Board. 

The step of enhancement of penury grant will benefit a large number of non-pensioner Ex-servicemen and widows who are in a state of penury. It was last revised from one time grant of Rs. 30,000/- to Rs. 1,000/- per month in October 2011. 

Source: PIB News

‘DigiYatra’- A New Digital Experience for Air Travellers

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‘DigiYatra’- A New Digital Experience for Air Travellers

Press Information Bureau 
Government of India
Ministry of Civil Aviation

08-June-2017 17:50 IST

‘DigiYatra’- A New Digital Experience for Air Travellers 

The Ministry of Civil Aviation is adding a Digital experience for Air Travellers through DigiYatra Platform. The ‘DigiYatra’ is an industry-led initiative co-ordinated by the Ministry in line with the Prime Minister Shri Narendra Modi’s Digital India’s vision to transform the nation into a digitally empowered society. This follows Air Sewa which brings together all the stakeholders on a common platform for handling customer grievances and disseminating real-time data.
The Union Minister for Civil Aviation, Shri P Ashok Gajapathi Raju expressed hope that ‘DigiYatra’ initiative will transform the flying experience for passengers and position Indian Aviation amongst the most innovative air networks in the world. 

The Minister of State for Civil Aviation, Shri Jayant Sinha today launched the report on ‘DigiYatra’. Shri Sinha also briefed the media about the ‘DigiYatra’ initiative of the Ministry. He said that ‘DigiYatra’ initiative aims to bring together entire industry to develop a digital ecosystem that will deliver Indian customers a seamless, consistent and paperless service experience at every touch point of their journey.

The Minister of State for Civil Aviation, Shri Sinha informed that the Ministry created a Technical Committee comprising industry stakeholders which will submit its recommendations in 30 days. These propositions would be open for public comments and discussions for another 30 days. These would then be translated into a time-bound action plan.

Shri Sinha said that the DigiYatra initiative envisages providing airline travellers in India, a pioneering ‘digitally unified flying experience’ across all stages of their journey. All aviation stakeholders – airlines, airport operators, security and immigration agencies, cab operators, retail establishment and others are working to devise digital standards which can enable seamless exchange of data and information. He said that these standards can power unique applications which can deliver a delightful experience for air travellers.

Shri Sinha further informed that the platform will be built on 4 key pillars, like Connected Passengers, Connected Airports, Connected Flying and Connected Systems which can make it possible over a period of time for passengers to:
·         Plan their trips efficiently by identifying price trends and estimate future airfares at the time of ticket booking,

·         Optionally link their Aadhaar to airlines and other ecosystem players at the time of booking for faster airport entry and automated check-ins without requiring any paper-based interventions,

·         Walk-through security scanners swiftly owing to advanced biometric security solutions,

·         Receive relevant information pertaining to various facilities, protocols, airline timings, queue lengths at airports etc.,

·         Engage in customised digital offerings at experience zones,

·         Get real time notifications about congestion and delays to have greater visibility on the next step of journey,

·         Conveniently navigate through the airport using digital guidance systems, interactive kiosks and augmented reality apps,

·         Stay connected during flights and indulge in immersive experiences. Also book in-flight services and destination based offerings digitally,

·         Get a prompt when their luggage reaches the baggage claim belt , and

·         Submit grievances, share experiences and provide feedback.

The Digitising data would help the aviation industry gather meaningful insights for continuous improvement and innovation. This initiative has emerged after six months of comprehensive discourse with various ecosystem players.

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