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Thursday, March 22, 2012

Finance Ministry declared Motor vehicle advance interest rate for the year 2011-12

Dear Comrades,
Finance Ministry declared rate of interest on Motor vehicle advances for the year 2011-12.
F.No. 5(2)-B(PD)/2011
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 19th March, 2012

OFFICE  MEMORANDUM

Subject :         Advances to Government servants — Rate of interest for purchase of
conveyances during 2011-2012.

The undersigned is directed to state that the rates of interest for advances sanctioned
to the Government servants for purchase of conveyances during 2011-2012 i.e. from
1st April, 2011 to 31st March, 2012 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)
To
1. All Ministries/Departments of the Government of India with spare copies for IFA,
Controller of Accounts and Pay and Accounts Offices.
2. Finance Secretaries of UTs without legislature.
Copy forwarded to:—
1. C&AG of India,  New Delhi.
2. C.G.A., New Delhi.
3. C.G.D.A., New Delhi.
4. All AGs and Director of Accounts.
5. Supreme Court of India.
6. UPSC, New Delhi.
(A.K. Bhatnagar)
Under Secretary (Budget)


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