Liquidated Damages - LD in Works

 Liquidated Damages in Works 

● Source: Clause 17B of GCC 

● Levied for delay of Works due to Contractor i.e., Clause 17B of GCC (not due to by Railways or any other reason) 

● If the Contractor fails to complete the works within the time as specified in the contract for the reasons other than the reasons specified in Clause 17 and 17-A, Liquidated Damages / General Damages on Contractor. 

● Value of the Work - Value of Agreement including any supplementary agreement. 

● Total LD - shall not exceed 5 % of the Value of the Work or total value of item or groups of items of work for which a separate distinct completion period is specified in the contract. 

● LD Rates  - As decided by the Engineer - Between 0.05 % to 0.30 % of Contract value of the work for each week or part of the week.  

● If the Railway is not satisfied that the works can be completed by the Contractor and in the event of failure on the part of the contractor to complete the work within further extension of time allowed as aforesaid, the Railway shall be entitled without prejudice to any other right or remedy available in that behalf, to appropriate the contractor’s Security Deposit and rescind/cancel the contract under Clause 62 of these Conditions, whether or not actual damage is caused by such default. 

**** 

Nageswara Rao 9492432160 

https://www.appendix3exam.com/ https://www.mcq.mcqrailways.com/

Deposit Linked Insurance Scheme

 DLI   - Deposit Linked Insurance Scheme

• DLI stands for Deposit Linked Insurance  

 

• Introduced w.e.f.,  08.01.1975 

 

• Object: 1. To provide extra social security to the families of subscribers to SRPF  2. A positive incentive to Railway employees who save more (in their PF Account) 

 

• Payment of Premium is not required. 

 

• Minimum qualifying balance is as follows: 

Grade Pay	Minimum qualifying balance in the last 36 months at the credit of the PF account of the deceased employee.
Grade Pay 4800 and above	Rs. 25000
Grade Pay 4200 to Grade Pay 4800	Rs. 15000
Grade Pay 1400 to Grade Pay 4200	Rs. 10000
Grade Pay 1300	Rs. 6000

• Payment: The minimum balance available in PF account during the last 36 months subject to the ceiling limit of Rs. 60,000 will be paid to the heir of deceased employee. 

Example 1: Mr A whose Grade Pay is 4200 died on 05.01.2022.  His minimum balance in PF account during the last 36 months prior to January, 2022 is Rs. 16000.  So DLI payment to the heir of Mr A is Rs. 16000 

Example 2: Mr B whose Grade Pay is 1300 died on 05.01.2022.  His minimum balance in PF account during the last 36 months prior to January, 2022 is Rs. 5900.  Since the minimum balance i.e Rs.5900 is less than minimum required is Rs.6000, the heir of Mr B is not eligible for DLI.  

Example 3: Mr C whose Grade Pay is 4800 died on 05.01.2022.  His minimum balance in PF account during the last 36 months prior to January, 2022 is Rs. 72000.  So DLI payment to the heir of Mr C is Rs.60000 which is maximum under DLI scheme. 

Material for MCQ

1. Maximum DLI to be paid is Rs.60000

2. Payment of DLI is minimum balance in last 36 months subject to maximum of Rs.60000

3. Qualifying period is 36 months

4. DLI stands for Deposit Linked Insurance

5. Introduced in the year 1975 

6. Applicable to the SRPF subscribers only

  —-end—-

RA - Railway Saloon

 Railway Saloon  - Home on Wheels

• RA stands for Railway Saloon

• Travel in an exclusive Railway Saloon to relive the era of the Raj

 

• Facility provided by IRCTC on Charter

 

• Ideal for those seeking privacy and exclusivity with their family or for newly married couples or  hosting meetings for business purposes.

 

 

 

 

Kitchenette: 

• For cooking fresh food while on Travel

• Fully equipped with Utensils, Sink, Refrigerator, RO purified water

• Will provide Cook and Provisions if required at additional cost.

 

 

 

 

 

Bedrooms:

• Two AC Bedrooms 

• One Twin Bedroom like in Hotel and another with two beds as in AC 1 coupe.

• Attached bathrooms with hot / cold water, shower, water closet. 

• Luggage racks, cupboards, writing table, dressing table etc. 

 

 

 

 

 

 

 

Living Cum Dining Room

• Spacious AC room with Sofas, TV, Dining table 

Other features:

• In addition to the Bedrooms, Every RA has 4 to 6 extra berths/beds for accommodating more people

• One AC Attendant and one General Attendant  - available

• RA can be attached from all major Stations in most Express Trains subject to technical feasibility.

–end–-

MCQ Test on Rolling Stock Code / Workshop Accounts - CBT mode

 

Rolling Stock Code - Workshop Accounts - MCQ Test

 

Please attend MCQ Test (CBT mode)  on Workshop Accounts - Rolling Stock Code at 8 PM on 22nd October, 2022 (Saturday) 

Click for download of 190 pages Rolling Stock Code 2022 October edition

CBT 70% Examination Calendar for 2023-24

Source: Click for Railway Board Letter

 CBT - LDCE Time Table 

Step / Action	Date
LDCE - 30%  Examination Date	20th November, 2022
Result Preparation	30th November, 2022
Declaration of Results by NAIR	1st December, 2022
Finalization of Panel by Zonal Railways	15th December 2022

CBT 70% Examination Time Table 2023 - 24

For Departments not participating in CBT LDCE on 20th November, 2022

Step / Action	Date
Issuing of Modified / Unified Syllabus	31st October, 2022
Notification (Where LDCE through CBT is not going to be conducted)	10th November, 2022
Finalization of Pre Promotional Training (PPT)   (PPT for Reserved Candidates - Through Offline / Online - 60 hours / 15 working days)	31st December, 2022
Main Examination	22nd January, 2023
Supplementary Examination	29th January, 2023
Result by NAIR	10th February, 2023
Finalization of Panels by Zonal Railways	25th February, 2023

For Departments participating in CBT LDCE on 20th November, 2022

Step / Action	Date
Issuing of Modified / Unified Syllabus	31st October, 2022
Notification (Where LDCE through CBT is to be conducted)	19th November, 2022
Finalization of Pre Promotional Training (PPT)   (PPT for Reserved Candidates - Through Offline / Online - 60 hours / 15 working days)	20th January, 22023
Main Examination	22nd January, 2023
Supplementary Examination	29th January, 2023
Result by NAIR	10th February, 2023
Finalization of Panels by Zonal Railways	25th February, 2023

MCQ Finance Code chapter 3 & 4, Railway Budget and Appropriation Accounts

 

Railway's Land Policy

 Railway’s Land Policy

• As part of NLP - National Logistics Policy

• Indian Railways revised its land policy to give boost PM Gati Shakti framework ( Cargo related activities, Public utilities and Railway’s exclusive use)

• Liberalization of Land policy would avenues to all stakeholders/service providers/operators to establish more cargo related facilities there by additional cargo traffic to Railways. 

• Financial implications  - No additional expenditure will be incurred 

 

• Reducing overall logistics cost in India to the Single digit (i.e., 8%) of World standard. (At present Logistics cost as a proportion of the GDP is around 14 %) 

 

• 300 PM Gati Shakti Cargo Terminals - next five years. 

 

Objects: 

1. To attract more cargo to Indian Railways, thereby increasing modal share in freight transportation from 36 % at present to 45 % by 2030 year

2. Create employment generation potential of about 1.2 lakh employment

3. Simplify approvals for utilities such as Electricity, Gas, Water supply, Telecom cable, sewage disposal, drains, OFC, pipelines, roads, flyovers etc

Comparison of Railway’s Land Policy

Item	Previous Policy		Revised Policy
Leasing of Railway’s Land	5 years		35 years
Land - Annual Lease charges	6 % of Market value of Land		1.5 % of Market value of Land
Leasing of Land for Hospitals through PPP	Nil		Re. 1 per Square Meter per annum
Land for renewable energy, water treatment, water recycling, sewage treatment plants etc for exclusive use of the Railways	Nil		Re. 1 per Square Meter per annum
OFC - Optical Fiber Cable Annual Lease charges	6 % per annum		Rs. 1000 (nominal charge)

Material for MCQ

1. NLP stands for National Logistics Policy

2. GCT stands for Gati shakti Cargo Terminal 

3. OFC stands for Optical Fiber Cable 

4. GDP stands for Gross Domestic Product

5. Present logistics cost as proportion to GDP  - 14% (approx)

6. Target Logistics cost as proportion to GDP  - Single Digit 

7. Railway’s modal share in Freight transport - Present level 36 % to 45 % by the year 2030

8. Leasing of Railway’s Land - up to 35 years (previous period - 5 Years) 

9. Annual leasing charges for Railway’s Land - 1.5 % of Market value of Land

10. Leasing of Land for Hospitals through PPP - Re. 1 per Square Meter per annum 

11. Land for renewable energy, water treatment, water recycling, sewage treatment plants etc for exclusive use of the Railways - Re. 1 per Square Meter per annum 

12. OFC - Optical Fiber Cable Annual Lease charges  - Nominal charge of Rs.1000

-end-

MCQ CBT Test - Chapter 1 of Accounts Code - Departmental Regulations

 

MCQ CBT Test - Management Accounting Part 1