7th PAY COMMISSION NEWS - CENTRAL GOVERNMENT EMPLOYEES NEWS

Advances to Central Government Employees — Rate of interest for purchase of conveyances during 2013-2014. 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% (A.K. Bhatnagar) Under Secretary (Budget) Source : www.finmin.nic.in [http://finmin.nic.in/the_ministry/dept_eco_...

Interest bearing advances as per 6th CPC The Finance Ministry issued orders on advances to Central Government employees with interest for purchasing Motor Car, Personnel Computer, Scooter, Motorcycle and Moped. The eligibility to avail the advances also mentioned in this order, the order has been published on 24th October 2008 vide F.No.12(1)/E.II-A/2008. Interest bearing advances / Sixth Central Pay Commission recommendation The implementation of the recommendations of the Sixth Central Pay Commission relating to interest bearing advances granted to Government employees is under consideration of the Government Meanwhile, pending finalization of the new arrangement, the existing provision, for interest bearing advances relating to purchase of Motor Car, Motorcycle, Scooter, Moped and Personal Computer would continue to be in operation. The eligibility criteria will be as follows : Advance Eligibility criteria Motor Car (including Personal Computer) Pay in the pay band of ...