Grant of Housing Building Advance-Charging of interest

No. 2/244/83-7WM

From

The Commissioner and Secretary to Govt., Haryana,
Finance Department.

To
All Heads of Departments,
Commissioners of Divisions,
All Deputy Commissioners and
Sub Divisional Officers (Civil) in Haryana.
The Registrar Punjab & Haryana High Court, Chandigarh and
All District & Sessions Judges in Haryana.

Dated, Chandigarh, the 27th August, 1984

Subject :- Grant of House Building Advance - Charging of interest.

Sir,

   I am directed to refer to the subject noted above and to say that certain departments have sought clarifications regarding charging of rate of interest on house building advances granted to Govt. Servants in more than one instalment i.e. whether it should be charged as per provisions made in rule 10.15 of P.F.R.

Vol. I or it is to be charged on the basis of instructions issued by the Finance Department from year to year for fixing the rate of interest. The matter has been considered and it is clarified that interest is to be charged according to the provisions made under rule 10.15 of P.F.R., Volume-I, i.e. if an advance is drawn in more than one instalment, the rate of interest on the whole advance should be determined with reference to the date on which the first instalment was drawn. (For Director, Technical Education, Haryana, This also disposes of his memo. No. E-8(19)-74/998, dated 3.2.1984)

   2. These instructions may kindly be brought to the notice of all officials/officers in your department.

Yours faithfully,

Sd/-

Under Secretary Finance,

for Commissioner and Secretary to Govt., Haryana,

Finance Department.

Source: www.finhry.gov.in