Rate of Interest . Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS https://centralgovernmentnews.com/tag/rate-of-interest/ All about Central Government Employees News. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more. Sat, 18 Feb 2017 12:03:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://centralgovernmentnews.com/wp-content/uploads/2019/02/cropped-central-government-employees-news-32x32.png Rate of Interest . Archives - CENTRAL GOVERNMENT EMPLOYEES NEWS https://centralgovernmentnews.com/tag/rate-of-interest/ 32 32 General Provident Fund (Tamilnadu) : Rate of interest for the period 01.01.2017 to 31.03.2017 https://centralgovernmentnews.com/general-provident-fund-tamilnadu-rate-of-interest-for-the-period-01-01-2017-to-31-03-2017/ https://centralgovernmentnews.com/general-provident-fund-tamilnadu-rate-of-interest-for-the-period-01-01-2017-to-31-03-2017/#respond Sat, 18 Feb 2017 12:03:52 +0000 http://centralgovernmentnews.com/?p=16922 General Provident Fund (Tamilnadu) : Rate of interest for the period 01.01.2017 to 31.03.2017 PROVIDENT FUND : General Provident Fund (Tamilnadu) : Rate of interest for the period 01.01.2017 to 31.03.2017 – Orders – Issued. Read the following:- 1. G.O.Ms.No.276, Finance (Allowances) Department, dated 24.10.2016. 2. From the Government of India, Ministry of Finance, Department of Economic […]

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]]> General Provident Fund (Tamilnadu) : Rate of interest for the period 01.01.2017 to 31.03.2017
PROVIDENT FUND : General Provident Fund (Tamilnadu) : Rate of interest for the period 01.01.2017 to 31.03.2017 – Orders – Issued.

Read the following:- 1. G.O.Ms.No.276, Finance (Allowances) Department, dated 24.10.2016.
2. From the Government of India, Ministry of Finance, Department of Economic Affairs, (Budget Division) New Delhi, Resolution No.5(1)-B(PD)/2016, dated 18.01.2017.

ORDER:
In the Government Order read above, orders were issued fixing interest for the accumulation at the credit of the subscribers to the General Provident Fund (Tamil Nadu) at 8.0% for the period from 1st October 2016 to 31st December, 2016.

2. In its order second read above, the Government of India has announced that during the year 2016-2017 accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.0% with effect from 1st January 2017 to 31st March 2017.

3. The Government now direct that the rate of interest on the accumulation at the credit of the subscribers to the General Provident Fund (Tamil Nadu) shall carry interest at the rate of 8.0% (Eight point zero per cent) during the period from 1st January 2017 to 31st March 2017.

4. The rate of interest on belated final payment of General Provident Fund accumulations remaining unpaid for more than three months of its becoming payable shall be at the same rate as ordered in para 3 above.

(BY ORDER OF THE GOVERNOR)

K. SHANMUGAM ADDITIONAL
CHIEF SECRETARY TO GOVERNMENT

Click to view the original order
Authority: www.tn.gov.in

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]]> https://centralgovernmentnews.com/general-provident-fund-tamilnadu-rate-of-interest-for-the-period-01-01-2017-to-31-03-2017/feed/ 0 Rate of interest on Loans and Advances sanctioned by the State Government – Interest rates for the year 2012-2013 – Orders – Issued. https://centralgovernmentnews.com/rate-of-interest-on-loans-and-advances-sanctioned-by-the-state-government-interest-rates-for-the-year-2012-2013-orders-issued/ Mon, 18 Jun 2012 06:31:48 +0000 http://centralgovernmentnews.com/?p=97 GOVERNMENT OF TAMIL NADU                     2012 FINANCE (LOANS AND ADVANCES CELL) DEPARTMENT G.O.No. 203, Dated 8th June 2012 (Vaikasi 26, Thiruvalluvar Aandu 2043) INTEREST – Rate of interest on Loans and Advances sanctioned by the State Government – Interest rates for the year 2012-2013 – Orders – Issued. READ – the following paper: G.O. Ms. […]

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GOVERNMENT OF TAMIL NADU
                    2012

FINANCE (LOANS AND ADVANCES CELL) DEPARTMENT
G.O.No. 203, Dated 8th June 2012
(Vaikasi 26, Thiruvalluvar Aandu 2043)

INTEREST – Rate of interest on Loans and Advances sanctioned by the State Government – Interest rates for the year 2012-2013 – Orders – Issued.

READ – the following paper:

G.O. Ms. No.131, Finance (Loans and Advances Cell) Department, dated 5-5-2011.

ORDER:

Government direct that the rate of interest on various kinds of loans and advances by the State Government during the year 2012-13 shall be as shown below:-

Sl. No.

  

Class of Loan / Advance

Percent per annum for the year 2012-2013

1.

  

Loans to State owned Industrial / Commercial Undertakings / Corporations, etc. including Financial Corporations and all other Local Bodies and Municipal Corporations:

  
  (a) Plan Schemes for development purposes 

10.50
  (b) Other Schemes

11.50
  (c) For capital formation and development purposes

11.00
  (d) For Working Capital Support

13.50
  (e)

For Ways & Means advances, advances including loans to cover cash deficits

13.00
  (f)

For Ways & Means advance to Tamil Nadu Civil Supplies Corporation Limited for Public Distribution System

10.00

Sl. No.

  

Class of Loan / Advance

Percent per annum for the year 2012-2013

2.

  

Loans to Co-operative Institutions and Co-operative Banks like Land Development Bank

10.00

3.

   Loans to Government Servants   
  (i) House Building Advance:  
    (a) For loans upto Rs.50,000/- 

5.50
    (b) For loans from Rs.50,001/- to 1,50,000/-

7.00
    (c) For loans from Rs.1,50,001/- to 5,00,000/-

9.00
    (d)  Above Rs.5,00,000/-

10.00
  (ii) Conveyance Advance:  
    (a) For purchase of Motor car

11.50
    (b) For purchase of Motor Cycle / Scooter

9.00
    (c) For purchase of Bi-cycle

5.50
  (iii) Other Personal Loans to Government Servants:  
    (a) For purchase of Computer

10.00
    (b) Others

10.00

4.

   Other items:  
   

Loans which are not covered in any specific category mentioned above

12.50

5.

  

Value of seized stock under Essential Commodities Act, 1955

9.15

6.

   Penal Interest

2.50

   2. The above rates will be applicable for all loans and advances being sanctioned during the year 2012-2013 and will have validity till the next revision is done. 

   3.  The rates of interest are general and will not apply to cases where reduced rates of interest have been sanctioned specially by the Government or where loans have been sanctioned by the Government free of interest.  The Government may also sanction Ways and Means advances at special rates of interest taking into account, the cost of borrowing of the Government.

   4.  The mobilization advances to Contractors for World Bank assisted Projects wherein the standard bidding documents provide for  exemption from paying of interest are however exempted from payment of interest.
 
   5.  The penal interest on all overdue instalments of principal and interest will be at 2.50 per cent more than the normal rates of interest per annum.  

   6.  Except in the case of loans to Government Servants, interest in all cases unless specifically indicated otherwise should be paid every Calendar quarter on the outstanding balance.

   7.  Even at the stage of sanction of loan, in the sanction order, the period of repayment, rate of interest and schedule of repayment with dates shall be indicated.  In case, it is a permanent loan, a specific mention of this fact should be made in the sanction order itself.

(BY ORDER OF THE GOVERNOR)

       K. SHANMUGAM
PRINCIPAL SECRETARY TO GOVERNMENT

Source:http://www.tn.gov.in/gosdb/gorders/finance/fin_e_203_2012.pdf

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