Friday, 27 April 2012


Department of Posts witnessed a huge rush of gold buyers in the tastefully decorated jewellery showrooms as well as banks and postal department offices on the auspicious occasion of Akshaya Tritiya on Tuesday. Over 100kg of gold worth around Rs 30 crore was bought by the Patnaites.

Various offers, gifts and discounts offered by the jewellers and the postal department coupled with marriage demand resulted in sales this year increasing by over 40% compared to 2011. Moni Shankersengupta, area business manager of Tanishq, Bihar, told TOI that by Tuesday evening they had sold over 18kg of gold worth around Rs 5 crore here. "The affordable diamond range launched by us on the occasion in the price bracket of Rs 10,000 to Rs 25,000 was the most sought-after item this year."

To lure buyers, jewellers here offered a variety of products for all sections of society keeping in mind their purchasing power. "Buyers with deep pockets gave preference to precious and semi-precious stones studded gold jewellery, while those with budget constraints went for token purchases like nose pins, earrings, rings, 'jhumka', pendents and gold coins ranging from 1 gram to 50 grams," said Sachin Gupta, owner, Ginni Jewellers, at Boring Road. He recorded 35% higher sales this year compared to 2011.

Shailendra Kumar of Nakshatra at P & M mall told TOI that last year, gold prices on Akshaya Tritiya was Rs 21,700 per 10 gram, whereas this year it has gone up and reached Rs 28,900 per 10 gram. "But price was the least concern of the gold shoppers here," said Kumar, adding, "Whereas aged people preferred buying gold bars and coins as investment, youngsters were looking for lightweight jewelleries."

Several banks also recorded brisk business. Bank of India's marketing head, Patna zone, Chandan Kumar said, "We sold around 4kg of gold on Akshaya Tritiya this year, making a profit of over Rs 1.5 crore." AK Mohanty, chief manager, State Bank of India, said, "Looking at the fluctuating stock market, people now prefer investing in gold as its price tends to increase. So, this year we sold around 400 gold coins, totalling over 5kg.

The postal department was not left behind. Anil Kumar, marketing director, postal department, said, "There was a huge rush of gold buyers throughout the day. We sold over 13kg of gold. Coins of 0.5 gram and 1 gram were in great demand. We sold over 2,500 gold coins of various weights on a single day."

3.86 crore Aadhaar cards in process of being delivered: Government

NEW DELHI: The government today said as many as 3.86 crore Aadhaar letters are in the process of being dispatched while 6.46 lakh cards could not be delivered by the postal department due various reasons such as incomplete address.

As on April 20, 2012 a total of 17 crore Aadhaar numbers had been generated and 10.44 crore have been dispatched, Minister of State for Planning Ashwani Kumar said in a written reply in the Lok Sabha.

"Out of these (10.44 crore letters), 6.58 crore Aadhaar letters have been delivered as reported by India Post and the remaining 3.86 crore letters are in transit," Kumar, who is also Minister of State for Science and Technology and Earth Science said.

He further said that as per the portal of the Department of Posts, the total returned letters as on April 20, 2012, stood at 6.46 lakh. This is 0.98 per cent of total Aadhaar letters delivered.

"There are five reasons for returned letters -- refused, deceased, insufficient address, addressee cannot be located and unclaimed," he said adding there was no bogus Aadhaar registrations.

"The letter being returned are having clear remarks of the concerned postman of the area and they are one of the five mentioned reasons...," he said.

Mandate of UIDAI is to issue Aadhaar numbers to all residents of India.

Aadhaar aims to provide a identity infrastructure which can be used to improve delivery of public services.

Central Government Employees Group Insurance Scheme-1980 - Tables of Benefits for the savings fund for the period from 01.01.2012 to 31.12.2012

Government of India
Ministry of Finance
Department of Expenditure
New Delhi, the 24th April, 2012


Sub: Central Government Employees Group Insurance Scheme-1980 - Tables of Benefits for the savings fund for the period from 01.01.2012 to 31.12.2012.

The undersigned is dirccted to refer to this Ministry’s O.M. No.7(I)/EV/2010 dated 31st January, 2011 forwarding therewith Tables of Benefits under CGEGIS for the year 2011. New Tables of Benefits for the savings fund of the Scheme based on a subscription of Rs.10 per month from 1.1.1982 to 31.12.1989 and Rs.15 per month w.e.f. 1.1.1990 onwards have been prepared for the year 2012 and a copy of the table is enclosed. Another Table of Benefits for the savings fund based on a subscription of Rs.10 per month for those employees who had opted out of the revised rates of subscription w.e.f. 1.1.1990 have also been drawn up for the year 2012 and a copy of that table is also enclosed. The amounts in the Tables have been worked out on the basis of interest @ 10 per annum(compounded quarterly) for the period from 1.1.1982 to 31.12.1982, 11% per annum(compoundcd quarterly) w.e.f. 1.1.1983 to 31.12.1986, 12% per annum(compounded quarterly) w.e.f. 1.1.1987 to 31.12.2000, 11% per annum (compounded quarterly) w.e.f. 1.1.2001 to 31.12.2001, 9.5% per annum(compounded quarterly) w.e.f. 1.I.2002 to 31.12.2002, 9.0% per annum(compoundcd quarterly) w.e.f.1.1.2003 to 31.12.2003. 8% per annum (compounded quarterly) w.e.f. 1.1.2004 to 30.11.2011 and 8.6% per annum (compounded quarterly) w.e.f. 1.12.2011 onwards. The mortality rate under the Scheme has been taken as 3.75 per thousand per annum up to 31.12.1987 and 3.60 per thousand per annum thereafter in both the cases. While calculating the amount it has beenassumed that the subscription has been recovered or will be recovered from the salary of the month in which a member ceases to be in service failing which it should be deducted from accumulated amounts payable.

2. In its application to the employees of Indian Audit and Accounts Department this Office Memorandum issues in consultation with the Comptroller and Auditor General of India.