Public holiday 15th October 2014 on account of General Assembly Elections in the State of Maharashtra

Public holiday 15th October 2014 on account of General Assembly Elections in the State of Maharashtra


Indian Banks’ Association
HR & INDUSTRIAL RELATIONS

No.CIR/HR&IR/H6/2014-15/727
October 9, 2014

All Members of the Association
(Designated Officers)

Dear Sirs,

Public holiday under Negotiable Instruments Act, 1881 on Wednesday, 15th October 2014 on account of General Assembly Elections in the State of Maharashtra.  We enclose a copy of notification No.PHD.1114/C.R/343/2014/XXIX dated 7th October 2014 issued by the Government of Maharashtra declaring Wednesday, 15th October 2014 as Public holiday under the Negotiable Instruments Act, 1881(XXVI of 1881), on account of polling for the General  Assembly Elections in the State of Maharashtra.

This is for information of member banks.

Yours faithfully,
sd/-
K S Chauhan
Sr. Vice Presidenl-HR&IR

MAHARAHSTRA GOVERNMENT ORDER

GENERAL ADMINISTRATION DEPARTMENT
Madam Cama Road, Hutatma Rajguru Chowk, Mantralaya,
Mumbai 400 032, dated the 7th October 2014.

NOTIFICATION

NEGOTIABLE INSTRUMENTS ACT, 1881.

No. PHD. 1114/C.R.343/2014/XXIX.— In exercise of the powers entrusted to the Government of Maharashtra by the Government of India, Ministry of Home Affairs vide its Notification No.39/1/68/Judi-III, dated the 8th May 1968 under section 25 of the Negotiable Instruments Act, 1881 (XXVI of 1881), the Government of Mnharashtra hereby declares as a Public Holiday in the State, on the day of Polling i.e. Wednesday, 15th October 2014 for the General Assembly Elections.

The Departments of Mantralaya are requested to bring these instructions to the notice of  the Corporations / Undertakings and Semi-Government bodies under their administrative control and advise them to extend the facility to the employees.

By order and in the name of the Governor of Maharashtra,
P. P. GOSAVI,
Deputy Secretary to Government.

Source: www.iba.org.in

AICPIN for August 2014 – DA from January 2015

AICPIN for August 2014 – DA from January 2015

AICPIN for the month of September, 2014 will be released on Friday. 31 October. 2014


It is estimated in our previous article about “Expected Dearness Allowance from January 2015“ that DA hike from January 2015 will range from 6% to 9% . It was estimated by assuming different pattern of increase in AICPIN for remaining five months. But this month AICPIN point shows that the expected DA from January 2015 will range from 6% to 7% .  

Consumer Price Index for Industrial Workers (CPI-IW) – August, 2014


No. 5/1/2014- CPI
GOVERNMINT OF INDIA
MINISTRY OF LABOUR & FMPLOYMFNT
LABOUR BUREAU

‘CLEREMONT’, SHIMLA-171004
DATED: the 30th September, 2014

Press Release

Consumer Price Index for Industrial Workers (CPI-IW) – August, 2014


The All-India CPI-IW for August, 2014 increased by 1 point and pegged at 253 (two hundred and fifty three) . On 1-month percentage change,it increased by 0.40 per cent between July, 2014 and August, 2014 when compared with the rise of 0.85 per cent between the same two months a year ago.

The largest upward pressure to the change in current index carne from Food group contributing 1.03 percentage points to the total change. At item level, Wheat. Pulses, Milk, Chillies-green, Potato, Tomato, Green vegetables & fruits, Tea (Readymade), Snack Saltish, Bidi. Chewing tobacco, Pan finished, Fire wood. Doctor’s fee, Cable charges. Auto rickshaw & Bus Fare, Flower/Flower garlands, Toiletries, Tailoring charges, etc. are responsible for the increase in index. However, this increase was restricted to some extent by Eggs (lien). Fish Fresh. Poultry (Chicken), Ginger, Sugar. Electricity Charges, Medicine (Allopathie), Petrol, etc., putting downward pressure on the index.

The year-on-year inflation measured by monthly CPI-1W stood at 6.75 per cent for August, 2014 as compared to 7.23 per cent for the previous month and 10.75 per cent during the corresponding month of the previous year. Similarly, the Food inflation stood at 7.63 per cent against 8.11 per cent of the previous month and 13.91 per cent during the corresponding month of the previous year.

At Centre level Nasik and Vadodara recorded the maximum increase of 8 points each followed by Chhindwara (7 points) and SuraL (6 points). Among others, 5 points rise was observed iii 4 centres. 4 points in 5 centres, 3 points in 7 centres. 2 points in 15 centres and 1 point in 16 centres. On the contrary, Goa reported a decrease of 8 points followed by Mysore (4 points). Among others, 3 points fall was observed in 3 centres, 2 points in 5 centres and 1 point in 6 centres. Rest of the 11 centres’ indices remained stationary.

The indices of 39 centres are above and other 39 centres are below national average.

The next index of CPI-IW for the month of September, 2014 will be released on Friday. 31 October. 2014. The same will also be available on the office website www.Iabourbureau.gov.in.

Sd/-
S.S.NEGI
DIR ECTOR

source : gservants.com

Expected Dearness Allowance from January 2015

Expected Dearness Allowance from January 2015


As all of us expected, 7% DA hike has been approved by Cabinet on 4th September 2014. Necessary order for payment of DA with effect from

1st July 2014 will be issued by Ministry of Finance soon. Here after our focus will be moving on to next instalment of dearness allowance which will be paid from 1st January 2015. We just analyse the trend of Consumer Price Index with the past seven months AICPCIN to arrive the expected DA from January 2015.

Since 2006, the AICPIN has witnessed second highest ever increase in July 2014. In 2009 the AICPIN increased by 7 points from 153 to 160 in the month of July. After that, an increase of 6 points over 246 points was declared in July 2014. It is the second highest monthly increase on AICPIN records from 2006. See the table below…

Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
MaxIncrease
2006
119
119
119
120
121
123
124
124
125
127
127
127
2
2007
127
128
127
128
129
130
132
133
133
134
134
134
2
2008
134
135
137
138
139
140
143
145
146
148
148
147
3
2009
148
148
148
150
151
153
160
162
163
165
168
169
7
2010
172
170
170
170
172
174
178
178
179
181
182
185
3
2011
188
185
185
186
187
189
193
194
197
198
199
197
4
2012
198
199
201
205
206
208
212
214
215
217
218
219
4
2013
221
223
224
226
228
231
235
237
238
241
243
239
4
2014
237
238
239
242
244
246
252





6

What is the impact of this highest increase of AICPIN on expected Dearness Allowance from January 2015?


It is observed that when it was 7 points increase in July 2009, it influenced very much on increasing the rate of DA to be paid from 1st January 2010 and 1st July 2010. The rate of Dearness Allowance had been enhanced by 8% from 25% to 35% with effect from 1.1.2010 and 10% increase from 35% to 45% was declared with effect from 1.7.2010. Though there was no considerable increase after those 7 points in that particular 12 months from July 2009 to June 2010, the rate of DA had been reached 8% and 10% increase level for  successive two instalments.

From this point of view, it is quite obvious that this one month increase on AICPIN is enough to play a vital role to have a considerable hike in rate of Dearness Allowance for forth coming two instalments. So this 6 points increase of AICPIN in July 2014, we can expect, will have a profound impact on increasing the rate of Dearness allowance to be paid, not only from 1st January 2015, but also from July 2015.

Let us see the three probabilities of  AICPIN trend, through which we can figure out approximately the expected DA from January 2015 


Probabilities (with AICPIN-IW points)
Expected DA from Jan 2015
Average increase of 3 points for remaining 5 months
9%
Average increase of 2 points for remaining 5 months
8%
If same points (252)continues for remaining  5 months
6%

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