Rate of Interest on Advances granted to Govt Servants 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.