Showing posts with label Rate of Interest. Show all posts
Showing posts with label Rate of Interest. Show all posts

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

F.No.5(3) – B (PD)/2013 
Government of India 
Ministry of Finance 
Department of Economic Affairs

New Delhi, the 12th November, 2013

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) 2012 dated 7thJanuary, 2013 on the captioned subject.

   2. The lending rates prescribed in the aforesaid Office Memorandum have been reviewed. The revised rates of interest applicable from 1st April, 2013 are given in the Table below:

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:

Advances to Government servants — Rate of interest for purchase of conveyances during 2012-2013.

F.No. 5(2)-B(PD)/2012
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 7th January, 2013.

OFFICE  MEMORANDUM

Subject :- Advances to Government servants — Rate of interest for purchase of conveyances during 2012-2013.

   The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2012-2013 i.e. from 1st April, 2012 to 31st March, 2013 are revised as under:

Haryana Govt. Rate of interest to be charged on Various Loans and Advances.

No. 34/2/94-WM (3)

From
Principal Secretary to Government, Haryana,
Finance Department.

To
1. All Heads of Departments in Haryana.
2. The Registrar, Punjab and Haryana High Court &
All District & Session Judges in Haryana State.
3. All Commissioners of Divisions,
Deputy Commissioners & S.D.Os. (Civil) in Haryana.

Dated, Chandigarh the 16th July, 2012.

Subject: - Rate of interest to be charged on House Building/Motor Car/Scooter/Motor Cycle/Moped/Cycle/Computer and Marriage Advance granted to the Government employees and also fixation of rate of interest on General Provident Fund and other similar funds for the financial year 2012-2013.

Sir,
   I am directed to refer to the subject noted above and to say that the matter regarding charging of interest on various loans and advances given to the Government employees including AIS Officers has been considered and it has been decided to charge interest on various loans and advances granted/sanctioned during the financial year 2012-2013 at the rates given below: -

Provident Fund-Rate of Interest on Deposits in General Provident Fund (Kerala) and other Provident Funds for the Financial Year 2012-13-Fixation of — Orders issued.

GOVERNMENT OF KERALA

Abstract

Provident Fund-Rate of Interest on Deposits in General Provident Fund (Kerala) and other Provident Funds for the Financial Year 2012-13-Fixation of — Orders issued.

FINANCE (PROVIDENT FUND ) DEPARTMENT

G.O.(P) No. 359/2012/Fin.                                                                         Dated, Thiruvananthapuram, 29th June, 2012.

Read:- 1. G.O.(Ms) No. 256/63/Fin dated 16.05.1963.
2. Resolution F.No.5(1)-B(PD)/2012 dated 22.05.2012 of the Ministry of Finance (Department of Economic Affairs), Government of India.

ORDER

   In the Government Order read as 1st paper above, it was ordered that the Government of India rates of interest on the General Provident Fund (Central Service) deposits from time to time would be adopted by the State Government for all kinds of Provident Funds administered by the Government.

   In the Resolution read as 2nd paper above, Government of India have announced that during the year 2012-13, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.8% (eight point eight percent) per annum. The rate will be in force during the financial year beginning on 01.04.2012.

   In the circumstances, Government are pleased to order that the rate of interest will be 8.8% (eight point eight percent) on all deposits and balances at the credit of subscribers of the following Provident Funds during the financial year 2012-13.

1. The General Provident Fund (Kerala).

2. The Contributory Provident Fund (Madras).

3. The Contributory Provident Fund for non-pensionable work charged establishment of the Public Works Department.

4. The Contributory Provident Fund of Forest Depaitinent.

5. The Contributory Provident Fund of the Public Health Engineering Department.

6. The Kerala Aided School Employees Provident Fund.

7. The Kerala Aided Higher Secondary School Employees Provident Fund.

8. The Kerala Aided Vocational Higher Secondary School Employees Provident
Fund.

9. The Vaidyaratnam Ayurveda College Employees Provident Fund.

10.The Kerala Ayurvedic Studies and Research Society Employees Provident Fund.

11.The Kerala Panchayat Employees Provident Fund.

12.The Kerala Private Homoeo Medical College Employees Provident Fund.

13.The Kerala Private College Staff Provident Fund.

14.The Kerala Private Engineering College & Private Polytechnic Teachers & Non- Teaching Staff Employees Provident Funds.

15.The Public Works Department Engineering Workshop (Pensionable) Workers General Provident Fund.

16.The Kerala Part Time Contingent Employees Provident Fund.

17.The Kerala NMR Pensionable Workers Provident Fund.

By Order of the Governor

T. GANGADHARAN NAMBIAR
ADDITIONAL SECRETARY (FINANCE)

Source:www.finance.kerala.gov.in

Rate of interest on Loans and Advances sanctioned by the State Government - Interest rates for the year 2012-2013 – Orders - Issued.

GOVERNMENT OF TAMIL NADU
                    2012

FINANCE (LOANS AND ADVANCES CELL) DEPARTMENT
G.O.No. 203, Dated 8th June 2012
(Vaikasi 26, Thiruvalluvar Aandu 2043)

INTEREST – Rate of interest on Loans and Advances sanctioned by the State Government - Interest rates for the year 2012-2013 – Orders - Issued.

READ - the following paper:

G.O. Ms. No.131, Finance (Loans and Advances Cell) Department, dated 5-5-2011.

ORDER:

Government direct that the rate of interest on various kinds of loans and advances by the State Government during the year 2012-13 shall be as shown below:-

Sl. No.

 

Class of Loan / Advance

Percent per annum for the year 2012-2013

1.

 

Loans to State owned Industrial / Commercial Undertakings / Corporations, etc. including Financial Corporations and all other Local Bodies and Municipal Corporations:

 
  (a) Plan Schemes for development purposes 

10.50

  (b) Other Schemes

11.50

  (c) For capital formation and development purposes

11.00

  (d) For Working Capital Support

13.50

  (e)

For Ways & Means advances, advances including loans to cover cash deficits

13.00

  (f)

For Ways & Means advance to Tamil Nadu Civil Supplies Corporation Limited for Public Distribution System

10.00

Sl. No.

 

Class of Loan / Advance

Percent per annum for the year 2012-2013

2.

 

Loans to Co-operative Institutions and Co-operative Banks like Land Development Bank

10.00

3.

  Loans to Government Servants   
  (i) House Building Advance:  
    (a) For loans upto Rs.50,000/- 

5.50

    (b) For loans from Rs.50,001/- to 1,50,000/-

7.00

    (c) For loans from Rs.1,50,001/- to 5,00,000/-

9.00

    (d)  Above Rs.5,00,000/-

10.00

  (ii) Conveyance Advance:  
    (a) For purchase of Motor car

11.50

    (b) For purchase of Motor Cycle / Scooter

9.00

    (c) For purchase of Bi-cycle

5.50

  (iii) Other Personal Loans to Government Servants:  
    (a) For purchase of Computer

10.00

    (b) Others

10.00

4.

  Other items:  
   

Loans which are not covered in any specific category mentioned above

12.50

5.

 

Value of seized stock under Essential Commodities Act, 1955

9.15

6.

  Penal Interest

2.50

   2. The above rates will be applicable for all loans and advances being sanctioned during the year 2012-2013 and will have validity till the next revision is done. 

   3.  The rates of interest are general and will not apply to cases where reduced rates of interest have been sanctioned specially by the Government or where loans have been sanctioned by the Government free of interest.  The Government may also sanction Ways and Means advances at special rates of interest taking into account, the cost of borrowing of the Government.

   4.  The mobilization advances to Contractors for World Bank assisted Projects wherein the standard bidding documents provide for  exemption from paying of interest are however exempted from payment of interest.
 
   5.  The penal interest on all overdue instalments of principal and interest will be at 2.50 per cent more than the normal rates of interest per annum.  

   6.  Except in the case of loans to Government Servants, interest in all cases unless specifically indicated otherwise should be paid every Calendar quarter on the outstanding balance.

   7.  Even at the stage of sanction of loan, in the sanction order, the period of repayment, rate of interest and schedule of repayment with dates shall be indicated.  In case, it is a permanent loan, a specific mention of this fact should be made in the sanction order itself.

(BY ORDER OF THE GOVERNOR)

       K. SHANMUGAM
PRINCIPAL SECRETARY TO GOVERNMENT

Source:http://www.tn.gov.in/gosdb/gorders/finance/fin_e_203_2012.pdf

State Railway Provident Fund - Rate of Interest during the year 2012-2013.

RBE No. 68 /2012

GOVERNMENT OF INDIA (BHARAT SARKAR)
MINISTRY OF RAILWAYS (RAIL MANTRALAYA)
(RAILWAY BOARD)

No. F(E)III/2003/PF1/1
 
New Delhi, Dated: 04.06.2012.

The GMs & FA&CAOs,
All Zonal Railways & Production Units,
(As per mailing list).

Subject: State Railway Provident Fund - Rate of Interest during the year 2012-2013.

   A copy of Government’s Resolution No. 5(1)-B(PD)/2012 dated 22nd May, 2012 received from the Ministry of Finance (Department of Economic Affairs), prescribing interest at the rate of 8.8% (Eight point eight per cent) per annum on accumulations at the credit of subscribers to the State Railway Provident Fund, during the financial year beginning on 1.4.2012 is enclosed for information and necessary action.

   2. Please acknowledge receipt.

sd/-
(T.P. SHARMA)
Deputy Director Finance (Estt)III,
Railway Board.

Source:http://www.airfindia.com/Orders%202012/SRPF%20Rates%20RBE%2068_04.06.2012.pdf

Rate of Interest on GPF (West Bengal)

Government of West Bengal
Finance Department
Audit Branch

No. 2908-F( J)

Date : 09/04/2012

RESOLUTION

   The Governor is pleased to decide that during the year 2011-12, accumulations at the credit of the subscribers to the General Provident Fund and other similar funds under the administrative control of the Govt. of West Bengal shall carry interest at the rate of 8% (eight per cent) for the period from 1.4.2011 to 30.11.2011 and 8.6% (eight point six per cent) w.e.f. 01.12.2011. The funds concerned are:-

(i) General Provident Fund (West Bengal Service)
(ii) Contributory Provident Fund ( West Bengal)
(iii) Provident Fund maintained under the West Bengal Non-Govt. Educational Institutions and Local authorities (CPFE) Act, 1983.
(iv) Any other Provident Fund maintained in the state Accounts with approval of this Govt.

   2. Ordered that the resolution be forwarded to all Departments of the Govt. of West Bengal and published in Kolkata Gazette.

By order of the Governor,

Sd/-
P.N. Sammader
Joint Secretary to the
Government of West Bengal
Finance Department

Source:http://www.wbfin.nic.in/writereaddata/Interest%20rate%20on%20PF%20order%20No%5B1%5D.2908-F(J).pdf

Process of settlement of claims in view of declaration of rate of interest for the financial year 2011-12 — Regarding.

Employees Provident Fund Organisation
(Ministry of Labour & Employment, Govt. of India)
Bhavishya Nidhi Bhawan, 14-Bhikaiji Cama Place, New Delhi - 110066

No.:WSU/10(1)2011/Changes in MAP

Dated:15-03-2012.

To
All Regional Provident Fund Commissioners,
In-charge of the ROs/SROs

Subject:- Process of settlement of claims in view of declaration of rate of interest for the financial year 2011-12 — Regarding.

Sir,

   This is in reference to the Head Office circular No. Invest.1/3(2)/133/11-12-ROI/51350 dated 14.03.2012 (placed at Sl. No. 602 of ‘Office Orders & Circulars 2011-12’ on EPFO’s website) vide which rate of interest @8.25% pa. for the financial year 2011-12 has been conveyed. The IS Division has already released Application S/w Patch Ver 3.29.1” dated 15-03-2012 for the same.

   Accordingly, all the RPFCs/Officers-Incharge of ROs/SROs are hereby directed to settle the claims by crediting the interest @8.25% for the financial year 2011-12. The claims, which are already in the pipeline before release of S/w Patch Ver 3.29.1, need not be returned to the Dealing Assistant (Initiator) for the change in the rate of interest. Such claims are to be approved by crediting interest @ 8.25% qa (for the Financial Year 2011-12), at the level of Section Supervisor, Accounts Officer or APFC, as the case may be. The Section Supervisor, Accounts Officer or APFC, as the case may be, shall record the final amount on the claim form
under his signature.

Yours faithfully,

sd/-
(Rajesh Bansal)
Financial Advisor & Chief Accounts Officer

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