GO 167 Loans Advances PRC 2015 Festival Advance increased

GO 167 Loans Advances PRC 2015 Festival Advance increased. LOANS AND ADVANCES - Admissibility in Revised pay Scales, 2015 – Recommendation of Pay Revision Commission 2015- Orders – Issued. Motor Car Advance, Motor Cycle / Scooter, Moped Advance, Bicycle Advance, Marriage Advance, Festival Advance, Educational Advance has been increased as per recommendations of PRC 2015.

GO 167 Loans Advances PRC 2015 Festival Advance increased

Festival Advance:  Recovery (10 Installments)
a) Employees drawing pay in the scale of Rs.26,600 – 77,030 or below = Rs.7,500/-
b.) For Class-IV: Rs.5,000/-
  • In respect of all loans the penal interest will be charged at the double the rate of normal interest in case the advances are mis-utilized or not utilized at all and at 1.5 times the normal rates for non-compliance with formalities. 
  • All other conditions governing the sanction of above advances under the existing Rules will continue.  
  • These orders shall come into force from the date of issue of the G.O.
  • For more loans and Details download the go below

3 comments:

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