Posts Tagged ‘Advances’

Grant of Advances- 7th Central Pay Commission recommendations-Amendment to rules on Computer Advance to Railway servants

Grant of Advances- 7th Central Pay Commission recommendations-Amendment to rules on Computer Advance to Railway servants

Government of India (Bharat Sarkar)
Ministry of Railways (Rail Mantralaya)
(Railway Board)

No.I/11-Part I
PC-VII No : 15/2017

RBE No. 10/2017
No. F(E) Spl./2016/ADV.4/1(7th CPC)

The General Managers and FA&CAOs
All Indian Railways & Production Units
(As per standard list)

Subject: Grant of Advances- Seventh Central Pay Commission recommendations-Amendment to rules on Computer Advance to Railway servants.

Consequent upon the decision taken by the Government on the recommendations of Seventh Central Pay Commission, the Ministry of Finance vide their OM No. 12(1)/E.II(A)/2016 dated 07.10.2016 have amended the eligibility criteria in the existing provisions relating to the grant of Personal Computer Advance.

2. Amendment conditions of grant of Computer Advance are as follows:

Advance Quantum Eligibility Criteria
Personal Computer Advance ƻ50,000/- or actual price of PC, whichever is lower. All Government Servants
The Computer Advance will be allowed maximum five times in the entire service.
The other terms and conditions governing the grant of Personal computer advance shall remain unchanged.

3. Further, Ministry of Finance in their ibid OM have also decided that the other interest bearing advances relating to Motor Car Advance and Motorcycle/Scooter/Moped Advance will stand discontinued.

4. The above mentioned OM of Ministry of Finance relating to grant of interest bearing advances will apply mutatis-mutandis to Railway employees also.

4.1 So far as the interest free advances are concerned, Bicycle and Warm clothing advances stands abolished for Railway employees also in terms of MoF’s decision.

4.2 Orders relating to other interest free advances will be issued separately by concerned Directorates.

5. Necessary Advance Correction Slip to the chapter XI of the Indian Railway Establishment Manual, Vol.I Revised Edition, 1989 will follow.

6. The revised orders are effective from 07.10.2016 i.e. the date of the issue of the aforesaid OM of the Ministry of Finance. Past cases where the advances have already been sanctioned under the provisions of earlier rules on the subject need not be reopened.

7. Please acknowledge receipt.

8. Hindi version will follow.

(A.C. Jain)
Dy. Director Finance (Estt.)
Railway Board

AIRF

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Be the first to comment - What do you think?  Posted by admin - February 13, 2017 at 11:18 pm

Categories: 7CPC   Tags: , , , , ,

LOANS AND ADVANCES – Advances to Government Employees for the Celebration of Marriage – Administration of the Marriage Advance Scheme – Entrustment to the Director of Treasuries and Accounts – Orders – Issued

FINANCE [Salaries] DEPARTMENT
G.O.Ms.No.140 G.O.Ms.No.140, Dated , Dated , Dated 13th May 2016.
(Chithirai -30, Thiruvalluvar Aandu-2047)

ABSTRACT

LOANS AND ADVANCES – Advances to Government Employees for the Celebration of Marriage – Administration of the Marriage Advance Scheme – Entrustment to the Director of Treasuries and Accounts – Orders – Issued.

Read:-
1. G.O.Ms.No.234, Finance (Salaries) Department, dated 30-03-1995.
2. G.O.Ms.No.148, Finance (Salaries) Department, dated 13-05-2015.

ORDER:

The Government of Tamil Nadu is granting various interest free and interest bearing advances to its employees. Among them, the following loans and advances are included under Demand 16 – Finance Department:-

Sl.
No.
Name of the Advance Head of Account (DPC) Interim BE
2016-2017
(Rs. in Thousands)
1. Conveyance Advance 7610 00 202 AA 61,00,00
2. Computer Advance 7610 00 204 AA 20,05,00
3. Other Advances:-
i. Warm Clothing Advance 7610 00 800 AB 0206 30,00
ii. Education Advance 7610 00 800 AB 2204 40,00
iii. TANSI Advance 7610 00 800 AB 3801 5,00
iv. Khadi Advance 7640 00 800 AB 4006 1,70,00
v. Handloom Advance 7610 00 800 AB 4104 25,00,00
4. Marriage Advance 7610 00 800 AC 0106 50,00

Except Marriage Advance, all other advances are administered by the Director of Treasuries and Accounts.

2) In respect of Advances administered by the Director of Treasuries and Accounts, funds are allocated based on requirement from the Heads of Department / District Collectors. Whereas, in the case of Marriage Advance, sanction is accorded for notional allocation of funds to Heads of Department / District Collectors without knowing the actual requirement. This kind of fund allocation led to under utilization of funds by certain departments / districts and pendency of application for want of funds in some other departments / districts. Consequently, the huge surrender of funds occurred resulting to adverse remarks from the Accountant General (A&E).

3) The Government, after careful examination, has decided to streamline the administration of the Marriage Advance scheme. Accordingly, Government direct that the administration of the Marriage Advance Scheme be entrusted to the Director of Treasuries and Accounts as in the case of other advances listed above and issue the following orders:-

(i) The Director of Treasuries and Accounts shall be the administrator of Marriage Advance Scheme from the year 2016-2017;

(ii) The funds provided in the Budget Estimate 2016-17 under the Head of Account ‘7610 00 800 AC’- included in Demand 16 – Finance Department, shall be allocated to the Heads of Department and District Collectors based on requirement;

(iii) The Heads of Department and District Collectors shall send their requirement to the Director of Treasuries and Accounts and get funds for sanctioning Marriage Advance to the Government employees under their control as in the case of other advances;

(iv) The Director of Treasuries and Accounts shall be the Estimating, Recounciling and Controlling authority for the head of account 7610 00 800 AC;

(v) The Heads of Department and District Collectors shall follow the existing Government Orders and instructions governing the sanction of Marriage Advance;

(vi) The Director of Treasuries and Accounts shall follow the usual procedures for allotment of funds as applicable to other advances; and

(vii) The Director of Treasuries and Accounts shall issue instructions to Heads of Departments/ District Collectors on modalities for seeking funds to sanction Marriage Advance.

(By Order of the Governor)
K.SHANMUGAM
ADDITIONAL CHIEF SECRETARY TO GOVERNMENT

Tamilnadu State Government Order

Be the first to comment - What do you think?  Posted by admin - July 19, 2016 at 12:50 pm

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Loans and Advances by the Central Government – Interest rates and other terms and conditions.

MOST IMMEDIATE

F.No.5(3)-B(PD)/2015
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 3rd February, 2016

OFFICE MEMORANDUM

Subject:- Loans and Advances by the Central Government – Interest rates and other terms and conditions.
Reference this Ministry’s Office Memorandum F.No.5(3)-B(PD)2014 dated 29th December, 2014 on the captioned subject.
2. The lending rates, categories and conditions prescribed in the
aforesaid Office Memorandum have been reviewed. The revised rates of interest, categories and conditions as given in the Table below, would be applicable from 1st April, 2015 and till the time these are reviewed:

S.No Category of borrower & type of loan Interest rate per cent per annum
1. State Governments:* 8.50
2. Union Territory Governments (with Legislature):
(i) Loans upto 1 year and EAP loan 8.50
(ii) Other Loans 9.00
3. Industrial and Commercial Undertakings in the Public Sector and Cooperatives.
(i) Investment loans # -
(ii) Working Capital loans and loans to meet Cash losses # -
(iii) Loans for implemantation of VRS in sick PSUs 10.00
4. Financial institutions in the Public Sector, Port Trusts, KVIC, NHAI, Municipal Corporation of Delhi,Commodity Boards, Social Service Institutions, Individuals, etc. @
5. National Bank for Agriculture and Rural Development (NABARD) 9.50

* Loans to State Government would be under EAP loans only. For Ways & Means loans, State Govts. have access to RBI window. In case any State has any specific contingent requirement, the proposal would be considered on case specific basis by Budget Division.
# The window of investment and working capital loan to CPSUs from Government of India in general, is hereby closed. CPSUs, in general, are hardly having debt and hence should raise debt from market or from banks. Only if CPSU is justified as significant from ‘Strategic’/ ‘Security’ angle, banks refuse loan to it and it has no real assets including land, to monetise, would loan be extended to it at 11% with the prior approval of Budget Division. However, wherever Investment and Working Capital loan has already been extended to CPSUs in 2015-16, the rate of interest would be at 11.50% and 13.50% respectively.
@The window pertaining to loans to Financial Institutions in the Public Sector, Port Trusts, KVIC, NHAI, Municipal Corporation of Delhi, National Co-operative Development Corporation (NCDC), Commodity Boards, Social Service Institutions, Individuals etc. in general, is hereby closed seeing the offtake under this in last 3 financial years. However, if a specific case still comes in future, it
would be examined by the Budget Division, DEA on merits of that case.

3. The terms, including interest rate of loans to Foreign Governments may be settled in consultation with Budget Division. Terms for on-lending of funds under externally aided projects should be in accordance with the prescribed pattern. In case, deviation is considered necessary, Budget Division should be consulted.

4. The interest rates prescribed above assume timely repayments and interest payments and hence no further rebate in rates is to be allowed for timely payments.

5. OTHER TERMS AND CONDITIONS

(a) The loan sanctioning authority should meticulously follow the instructions contained in General Financial Rules, 2005 (GFR 2005), particularly, rules framed under Chapter 9 (II-LOANS) of GFR, 2005, while sanctioning loans to various entities as stipulated therein.

(b) The instructions issued from time to time have been reviewed and are set out in the following paragraphs for facility of reference.

Click to read more: Finmin.nic.in

Be the first to comment - What do you think?  Posted by admin - February 19, 2016 at 1:55 pm

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Abolishing 12 Interest free advances including LTC Advance recommended by 7th CPC

7th Pay Commission recommendations on LTC advance and Medical Advance

Abolishing 12 Interest free advances recommended by 7th CPC

The 7th Pay Commission has , in a casual manner, recommended that all interest free advances to be abolished. The impact of this recommendation is yet un noticed by the central government employees

There are 12 Interest free advances are listed in that table provided in the 7th CPC Report. When hearing the news that 7th cpc has recommended to abolish interest free advances , every body thought that some advances like festival advances only will be abolished. But if you read the names of advances recommended for abolishment, it will give you little bit shock.

In general opinion, the amount that is paid for government servants in some occasions and for specific purposes and the same will be recovered through monthly instalments are considered advances.

But the advance paid for Medical treatment and LTC are not supposed to be included this list, since it is reimbursable in nature and will not be recovered by Government.

The amount paid as advances to the Medical treatment and LTC are not recoverable by government if there is no any default in the claim. since the expenses incurred should be reimbursed to the Govt servants according to their entitlements, the amount paid in advance can be adjusted against the claim of reimbursement is sanctioned. So there is no need of repaying the advance to government in respect of Medical and LTC advances.These should not be included in the list of interest free advances.

Eventually abolishing these advances will make the central government employees not to avail LTC facility and medical treatment in Private hospital, since the amount of 90 % of the expenses paid in advance will not be available for them any more due to this recommendation. By availing this advances they were able to manage the Medical Expenses and by availing this advance only they were able to bye Air or Train Tickets to go on LTC.

Without these advances, the Group C and B employees cannot imagine availing of LTC to visit some places in India with their family.

The Central Government should not accept the proposal of Abolishing these advances.

Source: GServants.com

Be the first to comment - What do you think?  Posted by admin - November 26, 2015 at 12:31 pm

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Rules for House Building Advance (HBA) for Indian Railway Employees

House Building Advance (HBA) for Indian Railway Employees

HBA is admissible to :

  •  A Permanent railway employee or a temporary Railway employee with 10 years of service.
  •  Officers of all India services (IAS, IPS, IFS) on deputation to the Railways continuously for 6 years.
  •  If both Husband and wife are Railway employees, advance is admissible to any one of them. Where a house-site is owned jointly by husband and wife, amount will be sanctioned only if both agree to mortgage the same to Government.
  • If both Husband and wife are Government Servants, the pay of both of them will be taken into consideration for calculating the ceiling limit.
  • A Railway employee under suspension may be granted HBA on furnishing collateral security in the shape of mortgage bond from two permanent Railway employees.

HBA is granted for the following purposes:

  • Purchase of a plot for construction of a house.
  • Construction of a house on a plot already owned by a Railway employee or jointly with his/her spouse.
  • Enlargement of an existing house.
  • Purchase of a ready built house of flat.
  • Repayment of loan taken from Govt/private sources for constructing a house.

Cost ceiling

  •  134 times pay in Pay Band subject to a minimum of 7.5 Lakh and maximum of 30 Lakhs.

Amount of Advance

  • 34 times the Basic Pay + Grade Pay or Rs. 7,50,000 or the actual cost or repaying capacity whichever is less.
  • For enlargement of an existing house, 34 times the Basic Pay + Grade Pay or Rs. 1,80,000 or the actual cost whichever is less.
  • In case of construction of a house in rural area, the amount of advance is 80% of the actual cost of construction and land.
  • For purchase of plot/land and mount not exceeding 20% of advance in case of single storied and 15% in case of double storied is permitted.

Rate of Interest

Upto Rs. 50,000                 5%

Upto Rs. 1,50,000             6.5%

Upto Rs. 5,00,000             8.5%

Upto Rs. 7,50,000             9.5%

 

  • Penal interest of 2.5% for violating conditions.
  • 0.5% reduction for promoting small family norms.
  • Rate of interest prevalent on the date of release of advance/first instalment shall be applicable.

Recovery

Principal               –    180 months

Interest                 –    60 months

Purchase of land and construct house – The following month of completing construction or 24 months after granting first installment whichever is earlier.

Construction of house – The following month of completing construction or 18 months after granting first installment whichever is earlier.

Source:  Indian Railway Employee

Be the first to comment - What do you think?  Posted by admin - October 6, 2013 at 3:15 pm

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25% of Salary to be paid as advance due to Onam Festival in Kerala

25% of Salary to be paid as advance due to Onam Festival in Kerala

Kerala Government has decided to issue 25% of Pay and allowances as advance to the employees of State Government in the month of September.

Government order has been issued by the Finance Department on 26th August 2013, in order to celebrate the festival of Onam in Kerala, 25% of salary to be paid in advance in the month of September who are willing to avail. The advance payment will be adjusted in the salary to be paid in October, 2013.

The advance payment will be issued on 11th, 12th and 13th September 2013, to the employees working in State Government, NMR Workers of all Departments and employees of Aided Schools, Colleges and Polytechnics.

Source: http://centralgovernmentemployeesnews.in/2013/08/25-of-salary-to-be-paid-as-advance-due-to-onam-festival-in-kerala/

Be the first to comment - What do you think?  Posted by admin - August 30, 2013 at 4:10 pm

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Eligibility criteria for Motor Car, Motorcycle, Scooter and Moped Advances

Eligibility criteria for Motor Car, Motorcycle, Scooter and Moped Advances

Eligibility criteria for Motor Car Advance : Employees drawing Pay in the Pay Band Rs.19,530 or more are eligible for the grant f the advance.

Motorcycle, Scooter and Moped : Pay in the pay band of Rs.8560 or more and advances for purchase of Bicycle and Warm Clothing(Grade pay not exceed Rs.2800) are being treated as interest advances from 7.10.2008.

PRINCIPAL CONTROLLER OF DEFENCE ACCOUNTS
107, LOWER AGRAM ROAD, AGRAM POST, BANGALORE-560007

CIRCULAR

NO. AN/II/1831/MC

DTD: 24th June 2013

To:
1) All Sections in Main Office
2) All Sub-Offices under PCDA Bangalore
3) All HAL (DAD) Offioes

SUB: Grant of scooter / Motor cycle advances 2013 – 14

It is proposed to prepare a fresh panel of applicants for scooter / Motor cycle advance for the year 2013-14. All those Officers / Staff eligible as per conditions given below and are desirous of applying may be advised to submit their applications in the prescribed Proforma alongwith Invoice / Estimates from the authorised dealer.

1) i) For Scooter/Motorcycle/Moped: All those Staff / Officers whose pay in the Pay band of Rs.8560/- or more for Scooter / Motor Cycle / Moped advances.

ii) All those Staff whose pay in the pay band of Rs.8560/- or less can apply for Moped advance only.

2) Such of those officers / staff who had applied earlier but have not been sanctioned Scooter / Motor Cycle /Moped advance are also required to submit fresh applications. In-complete applications received will not be entertained.

3) Individuals who fulfill the conditions of Rule 17 of GFR Pt-II only have to apply for Scooter / Motorcycle advance.

4) Individuals seeking to purchase IInd hand vehicle should clearly mention the same in their application, and consent note of the seller with Vehicle No and cost should be enclosed.

5) The advance for purchase of scooter / motorcycle is subject to availability of funds.

6) The contents of this circular may please be brought to the notice of all staff members and their applications forwarded immediately, so as to reach this office on or before 10/07/2013 positively.

7) Applications only in respect of eligible persons may be forwarded to this office duly recommended by the Head of the Office.

Please acknowledge receipt.

sd/-
ACDA (AN)

Source : www.pcdablr.gov.in
[http://www.pcdablr.gov.in/circular/adv-comp-scor.pdf]

Be the first to comment - What do you think?  Posted by admin - August 26, 2013 at 4:31 pm

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Dearness Allowance (DA) is granted to Railway employees

Dearness Allowance (DA) is granted to Railway employees

  •     DA is granted to Railway employees to offset inflation and rising cost of living and inflation.
  •     Basis for DA calculation is All India consumer price index.
  •     DA revision is done to neutralise inflation 100%.
  •     Government will sanction DA on the first of January and on the first of July every year if it is due as per the calculation.

Dearness Pay (For those who retain Vth pay Commission scale)

  •     With effect from 1.1.2004 50% of DA was convertede to DP and DA was fixed as 11%.
  •     From that DA and other allowances were calculated based on Pay + DP resulting in financial benefit to employee and a temporary relief to employees who were waiting for next Pay Commission.
  •     Likewise for pensioners also 50% Dearness Relief was seperated as Dearness Pension from 1.1.2004 and DA was calculated on Pension + DP.
  •     This is still applicable for those who retain 5 th CPC scales.

 

Related News: Method of Calculation of Dearness Allowance and Expected DA Increase from 2013

2 comments - What do you think?  Posted by admin - April 20, 2013 at 3:59 pm

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