Advances to Government servants - Rate of interest for purchase of conveyances during 2013-2014

F. No. 5(2)-B(PD)/2013

Government of India

Ministry of Finance

Department of Economic Affairs

New Delhi, the 12th November, 2013

OFFICE MEMORANDUM

Subject : Advances to Government servants — Rate of interest for purchase of  conveyances during 2013-2014.

The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2013-2014 i.e. from 1st April, 2013 to 31st March, 2014 are revised 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%

Sd/-

(A.K. Bhatnagar)

Under Secretary (Budget)

To

1.         All Ministries/Departments of the Government of India with spare copies for IFA, 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.

(A.K. Bhatnagar)

Under Secretary (Budget)