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Thursday, July 18, 2019
Learn how millions of government employees will be hit News Report
Learn how millions of government employees will be hit News Report.
The Government of India has increased the interest rate for General Provident Fund and other related schemes. In the last three months, 8% interest rate was available in these schemes, but now it has reduced interest rates to 7.9% for the second trimester of the financial year. Reducing interest rates will harm the central government, railways and defense personnel.
The General Provident Fund is a government funded PF or a future fund fund. In this fund, a portion of the salaries of government employees is deposited, which they later receive at retirement time. A notification issued by the Finance Ministry said that during the financial year 2019-20, this general instruction has been given that the interest rate for the General Provident Fund and its equivalent fund has been revised from 1 July, 2019 to 7.9 percent.
Under this fund, the PF gets deposited to the designated employees before December 31, 2003 or earlier. For other funds, interest rates, State Railway Provident Fund, General Provident Fund, Indian Ordnance Dept. Provident Fund, Indian Ordinance Factory Workmen's Provident Fund, Indian Naval Doctor Workmen's Provident Fund, Defense Services Officers Provident Fund and Amended Forces Personal Providence Fund .
Earlier, the interest rate change of the GFF was made in October 2018, while the interest rate increased by 0.4% to 8%. Last month, the government reduced the interest rate on small savings schemes, such as Public Provident Fund, National Savings Certification, to 0.1 percent.
The interest rate on the NNC and PPF was 7.9% and the interest rate on Kisan Development Paper was 7.6 percent. In March 2017, the government had simplified the regulation of GFF, after which the people linked to it could get payment within 15 days. After the completion of 10 years of employee's employment, some special requirements can be withdrawn by a JFF, before it happens only after 15 years.
National Scholarship Portal (NSP) Apply online
National Scholarship Portal (NSP) Apply online.
National Scholarship Portal (NSP) is a digital scholarship platform which carries multiple scholarships offered by central government, state governments and different government agencies like UGC (University Grants Commission), AICTE (All India Council for Technical Education), etc.
. The National Scholarship Portal hosts about 50 scholarships worth hundreds of crores among the scholarship seekers registered on the platform. According to officials, the platform has, so far, helped government implement and disburse scholarships worth more than INR 2000 crores. The platform boasts of more than 125 Lac applications out of which 105 Lac applications are verified also.
Do these facts excite you? If yes, then find out more about the national scholarship portal by reading further.
IMPORTANT UPDATE: All government scholarships are now live on the National Scholarship Portal.
National Scholarship Portal – What it is ?
Introduced as the Mission Mode Project under the National e-Governance Plan (NeGP), the National Scholarship Portal emerges as one of the most prominent scholarship portals that offer a variety of services ranging from student scholarship application to the disbursal of scholarships to them. Offering a SMART (Simplified, Mission-oriented, Accountable, Responsive & Transparent) system for effective and faster disposal of scholarships, the portal ensures direct delivery of funds to the beneficiary’s account thereby avoiding any chances of leakage.
The NSP can benefit you in the following ways –
You can find all kinds of scholarships information on one platform.
You have to make a single integrated application for all scholarships which simplifies the application process.
The portal renders enhanced transparency to all its users.
You can find the master data for all courses and institutions at an all-India level on this single platform.
It also serves as a great tool for departments and ministries in the form of DSS (Decision Support System)
National Scholarship Portal – Why it was created?
What was the need to create this portal? This is an obvious question to occur in your mind. The key objectives behind the creation of this National Scholarship Portal include –
To ensure that the scholarships are being disbursed to students on the timely basis
To offer a common platform for both Central and State Government scholarships
To create a transparent scholars’ database
To avoid duplication that occurs while processing the applications
To harmonize the variety of scholarships and their norms
To ensure the application of DBT (Direct Benefit Transfer)
National Scholarship Portal – How students can benefit from it?
Now when you are aware of the benefits that the National Scholarship Portal renders to the students, here is how you can get the best out of this portal –
Check the eligibility for the NSP scholarships available.
Register yourself with National Scholarship Portal and apply for the scholarship you are eligible for.
Make hassle-free submission of application online.
The authorities will do the verification of the online application. Meanwhile, you can also track the status of your application through the portal.
If successfully verified, the scholarship amount will be directly credited to the account of the student through Direct Benefit Transfer (DBT). Know the current status of NSP scholarship payment through the portal.