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mrajeev
26-06-2009, 06:27 AM
Vide their OM issued in October 2008, Deptt of Expenditure had laid down the conditions for grant of Interest Bearing Advances. In that letter, the eligibility for advance for PC and Motor Car was fixed as Pay in Pay band around Rs.19000 and that for Motor Cycle/Scooter etr at 8560/-. Recently somebody told me that the eligibility creteria for the PC advance was brought down to Rs.8560/-. What about the interest rate on PC advance. Can someone clarify on this and give a copy of the order.

NARESH KUMAR
26-06-2009, 11:32 AM
dear sir,
If you are eligible for scooter advance, then you can draw computer advance upto Rs. 30000/- only but if you you are eligible for car advance you can draw computer advance upto Rs.80000/-, Rate of interest is around 11%.
Intersring point is that you may get computer advance equal to your eligibility of scooter advance but you will end up paying interest applicable to car advance.

jitendraacr
26-06-2009, 08:32 PM
Vide their OM issued in October 2008, Deptt of Expenditure had laid down the conditions for grant of Interest Bearing Advances. In that letter, the eligibility for advance for PC and Motor Car was fixed as Pay in Pay band around Rs.19000 and that for Motor Cycle/Scooter etr at 8560/-. Recently somebody told me that the eligibility creteria for the PC advance was brought down to Rs.8560/-. What about the interest rate on PC advance. Can someone clarify on this and give a copy of the order.

Dear friend
Originally the Car Advance(Rs.150000) and Computer Advance(Rs.80000) was granted to the employees whoose Basic Pay was above Rs.10500 in pre revised scale. In 2007, though the eligibility of car advance was remain same, relaxation in eligibility for computer advance was granted by MoF and it was lower to Rs.4600 basic pay in pre revised scale. However the amount of advance was also reduced to Rs.30000 from 80000/-. The MoF order which you have referred above still exists but it is also a fact that relaxation is also continued. Hence any one whoose pay is 4600X1.86 in revised scale, is eligible for computer advance of Rs.30000/-. Order is available in Swamy's news of June 2009 as it was issued in march,09.
Jitendra

Anthony
27-06-2009, 09:06 PM
Dear friends,
Heard from the Administration (Railways) that there will be no more interest bearing advances from the Government, since it was one of the recomendations of the VI pay commission. It seems that all the interest bearing advances are to be taken from banks. How come this be true ? Can anyone clarify ?

Anthony