ஊதியகுழு அறிக்கை --சில முக்கிய தகவல்கள்

  

 



ஊதிய குழு     குறைந்த பட்ச ஊதியம்       அதிகபட்ச ஊதியம்         தலைவர்  

முதலாம்      -     55                                                   2000              சீனிவாசவரதாச்சியார் 
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இரண்டாம் -         80                                                    3000            JS.   ஜெகன்நாத் 
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-மூன்றாம்     -       196                                               3500              JS   ரகுவீர்ட யா ல்   
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நா ன்காம்  -         750                                                    8000           P .N சிங்கால் 
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ஐந்தாம்          -   2550                                                   26000        JS.இரத்தினவேல் 
பாண்டியன்  
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ஆறாம்                 --    7000                                                                 80000                    BN கிருஷ்ணா  
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ஏழாம்                        18000                                                              250000                     AK  மாத்தூர் 
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புதிய ஊதியம் நிர்ணயம் செய்யும் முறை 

PAY MATRIX  அறிமுகப்படுத்தப்பட்டு  2.57 FITMENT FACTOR இல் நிர்ணயம்

 ஒரு எழுத்தர் ( 9300--34800) ஊதியத்தில் Grade Pay 4200 இல் அடிப்படை சம்பளமாக 19440 (15240+4200)வாங்குகிறார் .அவருடைய புதிய ஊதியத்தை  பார்போம் 
19440 x 2.57 =49960.80      Rounded to 49961  அதனால் பட்டியல் 6 ன்  படி  அவருடைய அடுத்த நிலை ரூபாய் 50500 இல் நிர்ணயம் செய்யப்படும் 

மேலும் சில தகவல்கள் 
1.PAY BAND --GRADE PAY ஒழிக்கப்படுகிறது 
2.கீராஜுட் டி  அதிகபட்சமாக பத்து லட்சத்தில் இருந்து 20 லட்சமாக உயருகிறது .
(HBA)  வீடு கட்ட முன்பணம் ரூபாய் அதிகபட்சம் 25 லட்சம் 
Regarding interest-bearing Advances, only Personal Computer Advance and House Building Advance (HBA) have been retained. HBA ceiling has been increased to ₹25 lakhs from the present ₹7.5 lakhs 9வட்டியுடன் உள்ள முன் பணம் மட்டும் இனி வாங்க முடியும் )
HRA   
House Rent Allowance: Since the Basic Pay has been revised upwards, the Commission recommends that HRA be paid at the rate of 24 percent, 16 percent and 8 percent of the new Basic Pay for Class X, Y and Z cities respectively. The Commission also recommends that the rate of HRA will be revised to 27 percent, 18 percent and 9 percent respectively when DA crosses 50 percent, and further revised to 30 percent, 20 percent and 10 percent when DA crosses 100 percent.

CEA மாதம் ரூபாய் 2250 பழையது மாதம் (1750)

கேடேர் சீரமைப்பு கிடையாது 

GDS பிரட்சினைகளை சேர்க்க முடியாது 

MACP இல் மாற்றம் கிடையாது 

மருத்துவம் 

அனைத்து ஓய்வூதியர்களும் CGHIS திட்டத்தில் இணைவார்கள் .தபால் மருத்துவமனைகள் CGHIS உடன் இணைக்கப்படும்

 BENCH MARK FOR MACP AND PROMOTIONS:- 

NON PERFORMER  என்று யார் வேண்டுமானாலும் எப்படி  வேண்டுமானாலும்  முடிவு செய்ய முடியுமே  ! இதற்கு  MECHANISM  எதுவும் கிடையாதே !அதிகாரிகள் நினைத்தால் பதவி உயர்வு ?
பென்ஷன் -குறைந்தபட்ச பென்ஷன் 3500 ரூபாய் 9000 ஆக மாறுகிறது 
விடுப்பு -- விடுப்பு குறித்து பெரிய அளவில் மாற்றம் இல்லை 

CCL குறித்து கமிட்டி இன் பரிந்துரை முதல் வருடத்திற்கு 100 சதம் ஊதியமும் இரண்டாவது 365 நாட்களுக்கு 80 சதம் ஊதியம் வழங்க சிபாரி சு 
மேலும் ஆண்டுக்கு மூன்று SPELL எடுக்கலாம்  

ஒழிக்கப்பட்ட அலவன்சு கள் 

1.SBஅலவன்சு கள் .2.TREASURY அலவன்சு கள் .3.சைக்கிளஅலவன்சு கள் 4. Cycle Allowance :                        Abolished.

5Family Planning Allowance :     Abolished.

6Funeral Allowance :                  Abolished.

  7Holiday Compensatory Allowance  : Abolished as a separate allowance. Eligible employees

                                                                  to be governed by National Holiday Allowance. 

  8.Overtime Allowance (OTA) :           Abolished.

9.Rent Free Accommodation :            Abolished.

10.Washing Allowance :

மேலும் சில தகவல்கள்
♦ Report consist 900 pages

♦ Pay Panel recommends 16% Pay hike

♦ Grade Pay and Band Pay system abolished
♦ Minimum Salary 18000
♦ Apex pay scale 225000
♦ Cabinet secretary Pay 250000
♦ Annual increment 3%
♦ 23.5% hike in pay and allowance together
♦ Fitman formula 2.57%
♦ Group insurance increased to 50 lakhs
♦ HRA remains Same 10% 20% 30%
♦ 52 Allowances abolished
♦ 36 Allowances submerged

  வேலையை பார்த்து சம்பளம் கொடுக்க போறாங்களாம் 

Performance Related Pay: The Commission has recommended introduction of the Performance Related Pay (PRP) for all categories of Central Government employees, based on quality Results Framework Documents, reformed Annual Performance Appraisal Reports and some other broad Guidelines. The Commission has also recommended that the PRP should subsume the existing Bonus schemes.

இன்சூரன்ஸ் 50லட்சமாம் மாதம் பிரிமியம் 5000தானாம் 

Central Government Employees Group Insurance Scheme (CGEGIS): The Rates of contribution as also the insurance coverage under the CGEGIS have remained unchanged for long. They have now been enhanced suitably. The following rates of CGEGIS are recommended:

	Present		Proposed
Level of Employee	Monthly Deduction  (₹)	Insurance Amount  (₹)	Monthly Deduction  (₹)	Insurance Amount  (₹)
10 and above	120	1,20,000	5000	50,00,000
6 to 9	60	60,000	2500	25,00,000
1 to 5	30	30,000	1500	15,00,000

Table 5 PAY MATRIX (CIVILIAN EMPLOYEES)

ILL EFFECTS AND RETROGRADE RECOMMENDATIONS OF THE 7TH CPC - PREPARE FOR INTENSIFIED STRUGGLE !

அநீதி  !  அநீதி  !  ஏழாவது ஊதியக்  குழு 

 என்ற பெயரில் அநீதி ! மத்திய அரசுத்துறையா? அடிமைச் சந்தையா  ?

ஏழாவது  ஊதியக்  குழு  இழைத்த  அநீதி  என்ன ? 

PAY MATRIX  அறிமுகப்படுத்தப்பட்டு  2.57 FITMENT FACTOR மூலம் ஒரு சில சிறிய சலுகைகள் தவிர ,  

இருக்கும்  உரிமைகளும்   பறிக்கப்பட்டதென்ன  ? ஒட்டுமொத்த  அஞ்சல் ஊழியர்கள்  இதுகாறும்  பெற்ற  உரிமைகள் மறுக்கப் பட்டதென்ன  ? 

இது  குறித்த விரிவான  அறிக்கையும் ,ஊழியர் அடிமைப் படுத்தப் படுவதை எதிர்த்தும் உடனடி முதல் கட்ட  போராட்ட அறிவிப்பு வேண்டி புதுடெல்லியில் தற்போது  முகாமிட்டு  உள்ள மத்திய அரசு ஊழியர்  மகா சம்மேளன மாபொதுச்  செயலர்   தோழர் .M கிருஷ்ணன் அவர்களிடமும் அஞ்சல் மூன்றின் முன்னாள்  பொதுச் செயலர்   தோழர் . KVS அவர்களிடமும்   நாம்  இன்று (19.11.2015) இரவு 11.00 மணியளவில் நாம் வேண்டினோம். 

நாளை காலை  10.00 மணிக்குள்  அறிவிப்பு  மகா சம்மேளன வலைத்தளத்தின் மூலம் வெளியாகும் என்று  அவர்   உறுதி  அளித்தார் . அதனை  எதிர்பார்த்து  நாம் காத்திருக்கிறோம்.  ஏழாவது  ஊதியக் குழுவின்   பிற்போக்குத்தனமான  பரிந்துரைகளை  எதிர்த்து  , ஊழியர் களின்  இருக்கும்  உரிமைகள்  பறிக்கப்படுவதை எதிர்த்து,   ஊழியர்கள் அடிமைபடுத்தப்படுவதை  எதிர்த்து  நாளை (20.11.2015) தமிழகம் தழுவிய முதற்கட்ட   கண்டன  ஆர்ப்பாட்டத்திற்கு தயாராகுமாறு கேட்டுக் கொள்கிறோம்.  தமிழக  அஞ்சல் மூன்றின் போராட்டம்  அகில இந்திய முழுமைக்குமே  வழி  காட்டட்டடும் !

முக்கியமாக அஞ்சல் பகுதிக்கு மறுக்கப்பட்ட  அம்சங்கள் :- 

Postal Assistant/Sorting Assistant

11.8.23  They have demanded enhancement of minimum educational qualifications for Direct

Recruits for Postal Assistants/Sorting Assistants from Class XII to Graduation and the entry

grade pay from GP 2400 to GP 4200. Lower Selection Grade (LSG) and Higher Selection

Grade (HSG) II and I, which are promotional posts in this cadre, have accordingly been sought

to be placed in higher levels. 

Analysis and Recommendations

11.8.24 The Commission is of the view that there is no justification for the upgrade sought. 

Postman Cadre

11.8.28 The existing hierarchy of Postmen Cadre is as follows: Post Grade Pay Entry Level Qualification and Method of Filling Postman 2000 Class X: 50 percent by DR 50 percent by promotion from MTS  MTS 1800 Class X or ITI  They have demanded that the grade pay of Postman may be enhanced from GP 2000 to GP 2800. 

Analysis and Recommendations

11.8.29 The Commission has noted that VI CPC had consciously recommended upgradation 

of the Postman in Department of Posts and the analogous post of Mail Guard in Railway Mail

Service to their present level. The Commission has noted the entry level qualifications

prescribed (Class X or ITI for MTS) as also the work content, and is of the view that there is no justification for further raising the entry grade pay of Postman. 

Post Office (PO) and Rail Mail Service (RMS) Accountants

11.8.30 There are demands for creation of a separate cadre for the accountants of this cadre 

and placing them at par with organised accounts cadres.

11.8.31 The Commission is, however, of the view that the proposal is in the nature of cadre  restructuring, which is not in its ambit. 

Rail Mail Service (RMS) Mail Guard

11.8.32 The hierarchy of RMS Mail Guard is as follows: 

Post Grade Pay Entry level Qualification and Method of Filling Sorting Assistant 2400

50 percent DR with Class XII 50 percent through LDCE from Postman (three yrs of service)

and MTS (five yrs of service) Mail Guard 2000 Class X for Direct Recruits (50 percent DR,

50 percent by promotion, 25 percent from MTS and 25 percent from GDS) MTS 1800 Class X or ITI Higher GP 2400 has been demanded for Mail Guards. Demands have also been received for

merger of the cadres of Mail Guard with Sorting Assistants in GP 2400. 

Analysis and Recommendations

11.8.33 The Commission has noted that mail guards are posted in Transit Mail Offices and 

Transit Sections (Trains) and their duties and responsibilities are considered arduous in nature.

It is also noted that the VI CPC had consciously established relativity between Mail Guard, 

Postman and Constables of Central Police Organizations. As no modification in the grade pay of Postman is recommended, the Mail Guard shall also be placed in same pay level. 

Multi-Tasking Staff (MTS)

11.8.36 They have demanded higher GP 2000 for MTS-domestic posts and GP 2400 for MTS-

foreign posts, stating that the two job profiles require greater skills as compared to MTS of

other departments. Higher educational qualification for entry into MTS-foreign posts has also

been proposed. 

Analysis and Recommendations

11.8.37 The Commission is of the view that given the minimum entry level qualification of 

Class X, and the job content of MTS-domestic posts, the existing entry GP 1800 appears to be

appropriate. In so far as MTS-foreign posts are concerned, it is noted that they have, as Packers

of Foreign Posts, been treated as skilled workers and accordingly, in the wake of a judgement

of the High Court of Delhi, they were provided GP 1900. No upgrade is considered necessary for either MTS-domestic or MTS-foreign posts. 

Gramin Dak Sewaks

11.8.48 A demand has been made before the Commission for treating Gramin Dak Sewaks 

(GDS) as civil servants at par with other regular employees for all purposes.

Analysis and Recommendations

11.8.49 The Commission has carefully considered the demand and noted the following: 

a. GDS are Extra-Departmental Agents recruited by Department of Posts to serve in rural

areas. 

b. As per the RRs, the minimum educational qualification for recruitment to this post is

Class X. 

c. GDS are required to be on duty only for 4-5 hours a day under the terms and conditions

of their service. 

d. The GDS are remunerated with Time Related Continuity Allowance (TRCA) on the

pattern of pay scales for regular government employees, plus DA on pro-rata basis. 

e. A GDS must have other means of income independent of his remuneration as a GDS,

to sustain himself and his family. 

11.8.50 Government of India has so far held that the GDS is outside the Civil Service of the

Union and shall not claim to be at par with the Central Government employees. The Supreme

Court judgment also states that GDS are only holders of civil posts but not civilian employees.

The Commission endorses this view and therefore has no recommendation with regard to GDS. 

Separation of Cadres

11.8.51 System Administrators and Marketing Executives have demanded creation of separate 

cadres with higher pay scales. Presently incumbents of these posts are drawn from the cadre of

Postal Assistants/Sorting Assistant Cadre. 

11.8.52 The V and the VI CPC have also dealt with this issue and have not recommended

separation of cadres. The Commission also does not see any rationale for creating separate cadres. 

Modified Assured Career Progression (MACP)

5.1.44 Although a number of demands were received for increasing the frequency of MACP as well as to enhance the financial benefit accruing out of it, this Commission feels that the

inherent issues in the existing pay structure owing to which there was widespread resentment have been set right by way of rationalisation of pay levels, abolition of pay band and grade pay and introduction of a matrix based open pay structure. Hence, there is no justification for increasing the frequency of MACP and it will continue to be administered at 10, 20 and 30 years as before. In the new Pay matrix, the employees will move to the immediate next level.

BENCH MARK FOR MACP AND PROMOTIONS:-

5.1.45 There is, however, one significant aspect where this Commission feels that a change is

required. This is with regard to the benchmark for performance appraisal for MACP as well as

for regular promotion. The Commission recommends that this benchmark, in the interest of improving performance level, be enhanced from ‘Good’ to ‘Very Good.’ In addition, introduction of more stringent criteria such as clearing of departmental examinations or mandatory training before grant of MACP can also be considered by the government. 

என்ன  கொடுமை  இது  ! அடிமைச்  சந்தையா  ?

NON PERFORMER  என்று யார் வேண்டுமானாலும் எப்படி  வேண்டுமானாலும்  முடிவு செய்ய முடியுமே  ! இதற்கு  MECHANISM  எதுவும் கிடையாதே !

Withholding Annual Increments of Non-performers 

after 20 Years

5.1.46 There is a widespread perception that increments as well as upward movement in the 

hierarchy happen as a matter of course. The perception is that grant of MACP, although subject

to the employee attaining the laid down threshold of performance, is taken for granted. 

This Commission believes that employees who do not meet the laid down performance criterion should not be allowed to earn future annual increments. The Commission is therefore proposing withholding of annual increments in the case of those employees who are not able to meet the benchmark either for MACP or a regular promotion within the first 20 years of their service.

This will act as a deterrent for complacent and inefficient employees. However, since this is

not a penalty, the norms for penal action in disciplinary cases involving withholding increments

will not be applicable in such cases. This will be treated as an “efficiency bar”. Additionally,for such employees there could be an option to leave service on similar terms and conditions as prescribed for voluntary retirement. 

ஒழிக்கப்பட்ட  ALLOWANCE கள் 

22 Caretaking Allowance 

Abolished as a separate allowance. Eligible employeeto be governed by the newly proposed “Extra Work Allowance” 

23 Cash Handling Allowance :  abolished. 

33. Compensation in Lieu of Quarters : Abolished as a separate allowance. Eligible employees

to be governed by the newly proposed provisions for Housing for PBORs. 

42 Cycle Allowance :                        Abolished.

60 Family Planning Allowance :     Abolished.

69 Funeral Allowance :                  Abolished.

81 Holiday Compensatory Allowance  : Abolished as a separate allowance. Eligible employees

                                                                  to be governed by National Holiday Allowance. 

125 Overtime Allowance (OTA) :           Abolished. 

140 Rent Free Accommodation :            Abolished.

145 Savings Bank Allowance :                Abolished. 

189 Treasury Allowance :                        Abolished. 

196 Washing Allowance :                        Abolished as a separate allowance. Subsumed in the

                                                                  newly proposed Dress Allowance. 

HRA :

8.7.15 Considering all these factors, and in line with our general policy of rationalizing the 

percentage based allowances by a factor of 0.8, the Commission recommends that HRA

should be rationalized to 24 percent, 16 percent and 8 percent of the Basic Pay for Class 

X, Y and Z cities respectively. However, the Commission also recognizes that with the current

formulation, once the new pay levels are implemented, the compensation towards HRA will

remain unchanged until such time as the pay and allowances are next revised. Going by the

historical trend this event is likely to be a decade away. Some representations have been

received stating that towards the later part of the ten year period the HRA compensation falls

considerably short of the requirement. Having regard to this, the Commission also

recommends that the rate of HRA will be revised to 27 percent, 18 percent and 9 percent

when DA crosses 50 percent, and further revised to 30 percent, 20 percent and 10 percent

when DA crosses 100 percent. 

PAY MATRIX  TABLE :-

ஏழாவது ஊதியக்குழு அறிக்கை இன்று தாக்கல் செய்யப்படுகிறது

30 சதவீதம் ஊதிய உயர்வு 

பெண்கள் மற்றும் மாற்று திறனாளிகள் வீட்டில் இருந்தபடி வேலை செய்யலாம் 

திறமை அடிப்படையிலான உயர் ஊதியம் 

SEVENTH PAY COMMISSION TO HIKE SALARIES BY 30 PER CENT TODAY

 

New Delhi: The Seventh Pay Commission will submit its reports of 30 per cent salaries hike of central government employees to the Finance Minister Arun Jaitley today at 7.30 hours.

Seventh Central Pay Commission Chairman Justice Ashok Kumar Mathurr will submit his report to Union Finance Minister Arun Jaitley today at 19.30 hours.

The The Pay Commission headed by Justice A.K. Mathur has suggested to recommend a 15% increase over the basic salary plus dearness allowance (DA) for the central government employees, the panel said, adding that an increase in allowances like house rent allowance (HRA) to 25 per cent.

“The net increase is likely to be in the range of 30 per cent after subsuming the current 119 per cent dearness allowance in the new basic and grade pay scale,” the panel sources said.

But interestingly when we spoke to government employees they were not really happy, essentially perhaps because effectively if you take the DA out, it is not really a hefty bonanza as many thought it would be.

Also, given the price rise and inflation issues, most of employees are saying it is really not that sufficient.

The Seventh Pay Commission’s recommendations, will become effective after a Cabinet nod with some modifications. The recommendations of the Seventh Pay Commission are scheduled to take effect from 1 January 2016. The Pay Panel sources said the entire approval process to take another four months for implementation its.

A senior Union minister said that central government is ready to accept the Seventh Pay Commission recommendations from the budget of the next year.

The Seventh Pay Commission offers no change in the current retirement age of 60 years of central government employees.

The commission had recommended several changes like proposing higher HRA and other allowances,allowing work from home for disabled and women employees, hiking pay with efficiency, reducing Grade Pays, linking pay with productivity, performance-based increment, no increment and promotion without computer test, proposal for introducing health insurance and cutting down the number of gazetted holidays to three.

But all things get cleared today after the submission of the Seventh Pay Commission’s report.

Source : tkbsen.in

TRANSFER/ RT PURVIEW FOR GOVT. EMPLOYEES WHO HAVE DIFFERENTLY ABLED DEPENDENTS

GDS ஊழியர்களுக்கு அதிகாரி தலைமையிலான கமிட்டி

ஊதிய குழு வில் சேர்க்கும் நிலையும்  இல்லை 

நீதிபதி தலைமையில்கமிட்டியும் இல்லை --    


அனைத்து ஊழியர்களின் எதிர்ப்பையும் மீறி அஞ்சல் வாரியம் GDS ஊழியர்களின் ஊதியத்தை மாற்றியமைக்க அதிகாரி கமிட்டி அமைத்துள்ளது 

DEPARTMENT OF POST HAS APPOINTED SECRETARY TO GRAMIN DAK SEWAK COMMITTEE

Dept of Posts has constituted Gramina Dak Sewak Committee to go through the issues relating to Gramina Dak Sewaks . Now the Postal Directorate has appointed Sri T.Q.Mohammad (IPoS 1994), PMG, Agra region UP Circle as Secretary of the said Gramina Dak Sewak Committee Pl see the orders below:-

LSG PROMOTION II LIST RELEASED IN TAMILNADU CIRCLE FOR 116 OFFICIALS

LSG PROMOTION II LIST RELEASED IN TAMILNADU CIRCLE FOR 116 OFFICIALS

116 ஊழியர்களுக்கான LSG  பதவி  உயர்வு (2012 - 13க்கானது ) இரண்டாவது   பட்டியல் தமிழ்நாடு  வட்டத்தில் கடந்த 09.11.2015 அன்று  வெளியிடப் பட்டது. ஏற்கனவே  கடந்த 02.11.2015 அன்று 70 ஊழியர்களுக்கான  முதல் பதவி  உயர்வு பட்டியல்  வெளியிடப்பட்டது.  இன்னமும் 2013-2014, 2014-2015 மற்றும் 2015-2016 க்கான  பட்டியல்  தயாரிக்கும்  பணி  வேகமாக  நடைபெற்று  வருகிறது. 

கிட்டத்தட்ட 500 ஊழியர்களுக்கு  மேல் இந்தப்  பதவி  உயர்வு  தமிழக அஞ்சல் வட்டத்தில்  அளிக்கப்பட  உள்ளது. நம்முடைய  அஞ்சல் மூன்று சங்கத்தின் தொடர்  முயற்சியால் தேக்க  நிலை  உடைக்கப்பட்டு   நம்முடைய  CPMG  அவர்கள்  அளித்த  உறுதி மொழியின்படி  இது  வழங் கப்படுகிறது.  LSG  பதவி உயர்வுக்கு செல்லும்  ஊழியர்களின்  RESULTANT காலியிடங்கள்   எழுத்தர் பகுதியில் நிரப்பிட ஆவன  நடவடிக்கை மேற்கொள்ளப்படும். இரண்டாவது  பட்டியல்  கீழே  பார்க்க :-

Designated Post offices to issue Sovereign Gold Bond 2015-16

In continuation of the Press Communique dated 30th October, 2015 on Sovereign Gold Bond 2015-16, the Government of India, in consultation with Department of Post, has decided to issue the list of designated Post Offices to issue Sovereign Gold Bond Scheme, 2015. The designated Post Offices are authorized to receive the applications either directly or through agents. 

Government of India, in consultation with Reserve Bank of India (RBI), has decided to issue Sovereign Gold Bonds. The Bonds will be issued on November 26, 2015. Applications for the bond will be accepted from November 05, 2015 to November 20, 2015. The Bonds will be sold through banks and designated post offices as may be notified. The borrowing through issuance of the Bond will form part of market borrowing programme of Government of India.

It may be recalled that the Finance Minister had announced in Union Budget 2015-16 about developing a financial asset, Sovereign Gold Bond, as an alternative to purchasing metal gold.

The major features of the Bond are given below:

Sl. No.	Item	Details
1	Product name	Sovereign Gold Bond
2	Issuance	To be issued by Reserve Bank India on behalf of the Government of India.
3	Eligibility	The Bonds will be restricted for sale to resident Indian entities including individuals, HUFs, trusts, Universities, charitable institutions.
4	Denomination	The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
5	Tenor	The tenor of the Bond will be for a period of 8 years with exit option from 5th year to be exercised on the interest payment dates.
6	Minimum size	Minimum permissible investment will be 2 units (i.e. 2 grams of gold).
7	Maximum limit	The maximum amount subscribed by an entity will not be more than 500 grams per person per fiscal year (April-March). A self-declaration to this effect will be obtained.
8	Joint holder	In case of joint holding, the investment limit of 500 grams will be applied to the first applicant only.
9	Frequency	The Bonds will be issued in tranches. Each tranche will be kept open for a period to be notified. The issuance date will also be specified in the notification.
10	Issue price	Price of Bond will be fixed in Indian Rupees on the basis of the previous week’s (Monday–Friday) simple average of closing price of gold of 999 purity published by the India Bullion and Jewellers Association Ltd. (IBJA).
11	Payment option	Payment for the Bonds will be through electronic funds transfer/cash payment/ cheque/ demand draft.
12	Issuance form	Government of India Stock under GS Act, 2006. The investors will be issued a Stock/Holding Certificate. The Bonds are eligible for conversion into demat form.
13	Redemption price	The redemption price will be in Indian Rupees based on previous week’s (Monday-Friday) simple average of closing price of gold of 999 purity published by IBJA.
14	Sales channel	Bonds will be sold through banks and designated Post Offices, as may be notified, either directly or through agents.
15	Interest rate	The investors will be compensated at a fixed rate of 2.75 per cent per annum payable semi-annually on the initial value of investment.
16	Collateral	Bonds can be used as collateral for loans. The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.
17	KYC Documentation	Know-your-customer (KYC) norms will be the same as that for purchase of physical gold. KYC documents such as Voter ID, Aadhaar card/PAN or TAN /Passport will be required.
18	Tax treatment	The interest on Gold Bonds shall be taxable as per the provision of Income Tax Act, 1961 (43 of 1961) and the capital gains tax shall also remain same as in the case of physical gold.
19	Tradability	Bonds will be tradable on exchanges/NDS-OM from a date to be notified by RBI.
20	SLR eligibility	The Bonds will be eligible for Statutory Liquidity Ratio.
21	Commission	Commission for distribution shall be paid at the rate of 1% of the subscription amount.