AP RPS 2022 Loans and Advances Committee Revised Pay Scales 2022 - Constitution of Committee to examine the issue of Loans and Advances
Public Services - Revised Pay Scales 2022 - Constitution of Committee to examine the issue of Loans and Advances - Orders - Issued. FINANCE (PC-TA) DEPARTMENT G.O.Ms. No. 19 Dated: 27.02.2023.
Read the following:
1. G.O.Ms. No. 72, GA (SC.A) Department, Dated: 18.05.2018.
2. The Committee of Secretaries Report.
3. G.O.Ms.No.1, Finance (PC-TA) Department, Dated: 17.01.2022.
In the reference 1st cited, Government have constituted 11th Pay Revision Commission for the State Government employees and the 11th Pay Revision Commissioner has recommended the following with regard to Loans and Advances:
The Commission has recommended that the Government tie - up with financial institutions for grant of House Building/Personal Conveyance loans and link up repayment to salary disbursement. Back - ended subsidy of 2.5% has been recommended on such loans;
Pending such tie up, revised eligibilities, amounts and floating rate of interest linked to Repo Rate have been recommended in respect of all types of advances;
It is recommended that the eligibility for 'Advance for purchase of Personal Computer' may be increased to a maximum of 3 times during the entire service career subject to a minimum gap of 7 years between the purchase of two successive computers and complete repayment of previous computer advance.
In the reference 2nd cited, the Committee of Secretaries has observed the following on the recommendations of 11th PRC regarding Loans and Advances.
"The Committee recommends that the Government may facilitate tie up of loans with financial institutions for grant of House Building/Personal Conveyance/Persona! Computer loans and link up repayment to salary disbursement, duly negotiating the most favorable interest rates for the employees. Till the above tie - up is made, the Committee proposes that the existing arrangement may be continue"
Accordingly, Government have decided to constitute a committee on Loans and Advances.
Therefore, Government, after careful examination, hereby constitutes a Committee consisting of the following members to examine the issue of Loans and Advances.
- Secretary to Government, Services & HRM Department: member
- Secretary to Government, Finance(B&IF) Department : member
- Convenor, State Level Bankers Committee: member
- Principal Secretary to Government, Finance (H.R.) Department: member convenor.
The Committee of Officers shall submit their report/recommendation as expeditiously as possible to the Government for taking a decision in the matter.
