Interest bearing advances - for Motor Car ,Scooter, Moped and Computer and Cycle

F.No 12(I)/E.II-A/2008

GOVERNMENT OF INDIA

Ministry of Finance

(Department of Expenditure

North Block,New Delhi
Dated 24th October,2008

OFFICE MEMORANDUM



Sub: Interest bearing advances / Sixth Central Pay Commission recommendation



The undersigned is directed to state that 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.

2. Meanwhile, pending finalization of the new arrangement, the existing provisions for interest bearing advances relating to purchse 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 Rs.19530/- (Nineteen thousand five hundred and thiry only) or more

Motor Car, Scooter, Moped

Pay in the pay band of Rs.8560/- (Eight thousand five hundred and sixth only) or more


3. The quantum of advances would be determined with reference to pay in the pay band and existing ceiling would remain unchanged.

4. Advances for purchase of Bicycle and Warm Clothing (provided for in Rule 31 and 35 respectively of the Compendium of Rules on Advances to Government Servants) are to be treated as interest free advances in terms of this Department's OM of even number dated 7th October,2008.

5. Hindi version will follow.

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