Advances to Government servants – Rate of interest for purchase of conveyances during 2015-2016

Advances to Government servants – Rate of interest for purchase of conveyances during 2015-2016

F.No. 5(2)-B(PD)/2015

Government of India

Ministry of Finance

Department of Economic Affairs

New Delhi, the 3rd February, 2016

OFFICE MEMORANDUM

Subject : Advances to Government servants — Rate of interest for purchase of conveyances during 2015-2016.

The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2015-2016 i.e. from 1st April, 2015 to 31st March, 2016 are as under:
    Rate of interest
per annum
(i)     Advance for purchase of conveyance other than motor car (viz. motor cycle, scooter etc.)     9%
(ii)     Advance for purchase of motor car     11.5%

The rates remain unchanged from those applicable for the financial year 2014-15.

(A.K. Bhatnagar)
Under Secretary (Budget)

To
1. All Ministries/Departments of the Government of India with spare copies for Integrated Finance Division (IFD), Controller of Accounts and Pay and Accounts Offices.

2. Finance Secretaries of UTs without legislature.

Copy forwarded to:—
1. C&AG of India, New Delhi.
2. C.G.A., New Delhi.
3. C.G.D.A., New Delhi.
4. All AGs and Director of Accounts.
5. Supreme Court of India.
6. UPSC, New Delhi.

Official Order