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Friday, 19 February 2016

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

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
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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
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Government announced the Leave Travel Concession (LTC) rules for easy settlement of the LTC claims

Government announced the Leave Travel Concession (LTC) rules for easy settlement of the LTC claims

The amended Office Memorandum No.31011/3/2015-Estt(A.IV) seek to ease the procedural difficulties faced by government employees while applying for and settling LTC claims.

Setting outer time-limits for various LTC procedures, the DoPT today said leave or sanction of LTC leave advance would take no more than five days each. This would be extendable by three days where the government employee is away for the headquarters.

Besides, the administration will take no more than 10 days (13 where the employee is away from headquarters) to verify LTC claims after the LTC bill is submitted by the government employee.

The government also proposes to allow its employees to self-certify their proposed LTC journey. Under existing CCS (LTC) Rules, government employees are required to inform their controlling officer before the journey on LTC is to be undertaken.

Also, whenever a government employee applies for LTC, he /she may be provided with a copy of the guidelines to be followed while availing of the concession.

A government servant is allowed to avail of LTC once in a block of two years to visit his/her hometown, while LTC to any place in India can be availed once in a four-year block. If not availed during these blocks, the LTC may also be availed in the first year of the following block.
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Latest developments in 7th pay commission implementation will be known after NJCA meeting

Latest developments in 7th pay commission implementation will be known after NJCA meeting

Internal Meeting of NJCA is postponed to tomorrow

One of the NJCA Leader told that the internal Meeting of NJCA scheduled to be held today at 05.00 PM has been postponed tomorrow 19-2-2015 at 9.00 AM.

Further he added that until they meet Implementation Cell tomorrow, they have nothing to tell about the developments in Implementation of 7th Pay Commission. “We must first know the views of Central Government before come to any conclusion “ he said.

When we asked him about the Rumors that ‘PMO has told the Empowered Committee to speed up the process of implementation of 7th Pay commission recommendation’ and ‘30 Percent increase is recommended by Empowered Committee in Basic Pay’, annoyed at hearing this rumors, he told, “Many stories like this is being circulated in News Media for unknown reasons.”

“But we are the Stake holders, we are not informed anything about this development. We are invited for the meeting tomorrow by 7th CPC implementation Cell. Only after attending the meeting, we will be able to tell about the recent developments in settling our Charter of Demands submitted to Cabinet Secretary. 26 demands pertaining to Modification of 7th CPC recommendation also has been included in the Charter of Demands” He added.

Source: govtstaffnews.in
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Dopt Orders on LTC: Central Civil Services (Leave Travel Concession) Rules, 1988 — Fulfillment of procedural requirements.

Dopt Orders on LTC: Central Civil Services (Leave Travel Concession) Rules, 1988 — Fulfillment of procedural requirements.

No. 31011/3/2015-Estt (A.IV)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel and Training
Establishment A-IV Desk
North Block, New Delhi-110 001
Dated: February 18, 2016
 OFFICE MEMORANDUM 

Subject:- Central Civil Services (Leave Travel Concession) Rules, 1988 — Fulfillment of procedural requirements.

This Department is in receipt of a number of references regarding the procedural difficulties faced by the Government employees in application and settlement of the LTC claims. Sometimes, the Government servants claim that failure to follow the correct procedure was on account of a lack of knowledge of the rules/instructions. It is alleged that in some cases, processing of LTC claims takes unduly long time, particularly when the employee and the sanctioning authorities are located at different stations.

2. To remove these bottlenecks, it has been decided to simplify the procedure of application and make the procedure of processing of LTC claims time bound. The following time-limits shall be followed while processing the LTC applications/claims of  the Government servants.

leave-travel-claim-LTC
*(a) Additional 3 days transit-time may be allowed in cases where the place of posting of the Government employees is away from their Headquarters, The Government employee may proceed on LTC after action on S.No. 1 .

(b) Efforts should be made to reduce the duration of processing of LTC applications/claims at the earliest. The maximum time limit should be strictly adhered to and non —compliance of time limit should be adequately explained.

3. Under CCS (LTC) Rules, the Government servants are required to inform their Controlling Officer  before the journey(s) on LTC to be undertaken. It has now been decided that the Leave Sanctioning Authority shall obtain a self-certification from the employee regarding the proposed LTC journey. The proforma for self-certification has been annexed with this O.M.

4. In addition to the above, it has been decided that whenever a Government servant applies for LTC, he/she should be provided with a copy of the guidelines (enclosed) which ne ds to be followed while availing LTC.

5. Employees ay be encouraged to share interesting insights and pictures, if any, of the destination he/she visited while availing LTC in an appropriate forum.

Enclosures:
1) Proforma fo self-certification
2) Guidelines
(Surya Narayan Jha)
Under Secretary to the Government of India
To
The Secretaries
All Ministries / Departments of Government of India
(As per the standard list)

Proforma for self-certification by the Government employee 

I Sh./Smt./Kr. ----------------------------------------- (Name of the Govt. servant) wish to confirm that I am availing  ----------------------------------- (Home Town/ Any Place in India) LTC in respect of self/ family member(s) for the block year  --------------- to visit ---------------------  (Place of visit) during  (dates of journey). It is stated that I or the family member for whom I wish to avail LTC has/have not availed of the same before in the present block.

2. The Particulars of members of family in respect of whom the Leave Travel Concession is being claimed are as under:

3. It is certified that the above facts are true and any false statement shall make me liable for appropriate action under Rule 16 of CCS(LTC) Rules, 1988 and the relevant disciplinary rules.

* N.B.: The Government employee may share interesting insights and pictures, if any, of  the destination visited while availing LTC on an appropriate forum.

Guidelines 

1. Please ensure that you have applied for leave and submitted the self-certification form to your Administration before the LTC journey is undertaken.

2. Please check your eligibility before applying for LTC. LTC to Home Town can be availed once in a block of two years and LTC to Any Place in India may be availed once in a four year block. If not availed during these blocks, the LTC may also be availed in the first year of the following block.

3. Please note that the current two year block is 2016-17 and the current four year block is 2014-17.

4. In case of fresh recruits, LTC to Home Town is allowed on three occasions in a block of four years and to any place in India on the fourth occasion. This facility is available to the fresh recruits only for the first two blocks of four years applicable after joining the Government service for the first time. (For details, please refer to DoPT's O.M. No. 31011/7/2013 -E stt. (A-IV) dated 26.09.2014 available on www.persmin.nic. in' << `OMs & Orders'<< ' Frequently Asked Questions (FAQs) on LTC entitlements of a Fresh Recruit')

5. A Fresh recruit may at his option choose to avail LTC under the normal LTC rules as applicable to other Government employees. In this case he/she will not be allowed to avail other LTCs as admissible to the fresh recruits in that block of four years.

6. The retiring Government employees are eligible to avail LTC as per their entitlement provided that the return journey is performed before their date of retirement. LTC is not allowed after retirement.

7. The Journeys on LTC are to be undertaken in the entitled class of the Government servant in public/Government mode of transport.

8. Travel by private modes of transport is not allowed on LTC, however, wherever a public transport is not available, assistance shall be allowed for the private transport subject to the certification from an Appropriate Authority that no other public/Government mode of transport is available for that particular stretch of journey and these modes operate on a regular basis from point to point with the specific approval of the State Governments/Transport authorities concerned and are authorised to ply as public carriers.

9. If a Government servant travels on LTC upto the nearest airport/ railway station by authorized mode of transport and chooses to complete rest of the journey to the declared place of visit by 'own arrangement' (such as personal vehicle or private taxi etc.), while the public transport system is already available in that part, then he may be allowed the fare reimbursement till the last point where he has travelled by the authorised mode of transport. This will be subject to the undertaking from the Government employee that he has actually travelled to the declared place of visit and is not claiming the fare reimbursement for the part of journey performed by the private  owned/operated vehicle

10. Government servant may apply for advance for himself and/or his family members sixty five days before the proposed date of the outward journey and he/she is required to produce the tickets within ten days of the drawal of advance, irrespective of the date of commencement of the journey.

11. Reimbursement under LTC scheme does not cover incidental expenses and expenditure incurred on local journeys. Reimbursement for expenses of journey is allowed only the basis of a point to point journey on a through ticket over the shortest direct route.

12. The time limit or submission of LTC claim is :
  • Within three months of completion of return journey, if no advance is drawn;
  • Within one month of completion of return journey, if advance is drawn.
13. Government employees entitled to travel by air are required to travel by Air India only in Economy Class at LTC-80 fare or less unless permitted to do so by any general or specific provision.

14. Government employees not entitled to travel by air may travel by any airline, however, reimbursement in such cases shall be restricted to the fare of their entitled class of train/transport or actual expense, whichever is less.

15. In all cases whenever a Govt. servant claims LTC by air, he/she is required to book the air tickets either directly through the airlines or through the approved travel agencies viz: M/s Balmer Lawrie & Co. Ltd/ M/s Ashok Tours & Travels Ltd/ IRCTC. Booking of tickets through any other agency is not permissible.

16. Travel on tour packages is not allowed, except in the case of tours conducted by Indian Tourism Development Corporation (ITDC), State Tourism Development Corporation (STDC) and Indian Railway Catering and Tourism Corporation (IRCTC). In such cases, only the fare component shall be reimbursable provided ITDC/STDC/IRCTC separately indicate the fare component and certify that the journey was actually performed by the Government servant and his family members for which he/she claiming the Leave Travel Concession.

17. Please ensure that your LTC claim is as per the instructions to avoid rejection of your claim.

"Have a pleasant journey and a happy holiday"

Authority: www.persmin.gov.in
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Command Hospital (Eastern Command), Kolkata gets Raksha Mantri’s Trophy for Best Service Hospital

Command Hospital (Eastern Command), Kolkata gets Raksha Mantri’s Trophy for Best Service Hospital

Ministry of Defence

The Defence Minister Shri Manohar Parrikar presented the Raksha Mantri’s Trophy and citation for the Best and Second Best Service Hospital in the Armed Forces Medical Services (AFMS) here today. The trophy for the Best Service Hospital went to Command Hospital (Eastern Command), Kolkata, which was received by its Commandant Major General TS Ahluwalia. The trophy for the Second Best Hospital was presented to INHS Asvini, Mumbai, which was received by its Commandant Surgeon Rear Admiral AA Pawar.

Speaking on the occasion, the Defence Minister praised the yeoman service being rendered by the AFMS over the years both in war and peace. He complimented all the members of Command Hospital (Eastern Command), Kolkata, INHS Asvini, Mumbai and the entire AFMS for their excellent work in provisioning of contemporary and comprehensive healthcare.

The Director General AFMS and Senior Colonel Commandant Lt Gen BK Chopra in his opening remarks highlighted the modernisation programme of the Medical Services and reassured that the AFMS is fully prepared to meet any challenge.

The Raksha Mantri’s Trophy was instituted in 1989 to create a healthy competition among the Command Hospitals of the Army and its equivalent hospitals in the Navy and Air Force. The Best and Second Best Hospital are adjudged on the basis of a number of objective criteria by a Committee headed by Director General Health Services (Armed Forces). The Joint Secretary (O/N), Ministry of Defence is also a member of the Committee.

The function was attended by all the three Service Chiefs, Defence Secretary and other senior officers from the Services and the Ministry of Defence.

PIB News
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Cabinet approves release of an additional instalment of DA to Central Government employees and DR to Pensioners, due from 1.1.2019

Cabinet approves release of an additional instalment of DA to Central Government employees and DR to Pensioners, due from 1.1.2019   ...

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