As soon as Principal amount is completely
repaid, who has to calculate interest on the Advance?
Is the AG Office responsible for calculating interest on
the Principal Amount?
In the case of Non-Gazetted Government
servants, the interest will have to be calculated by the drawing
and disbursing officer. The Loans sections in the AG Office are required
to ensure the correctness of the amount of interest so calculated.
(Art 213 of KTC, Vol I 1958)
In the case of Gazetted Officers,
interest will be calculated in the Office of AG (A&E).
Why is the Clearance Certificate not issued
immediately after repayment of the last installment of interest?
Only after ensuring the correct
accounting of the transactions in the AG Office can the the
Clarance Certificate be issued.
This means that that the accounting for the month in
which repayment of last installment of interest is paid has
to be completed before this Office can be in a position to
issue the C.C.
Can the Clearance Certificate in respect
of MCA be issued after the repayment of last installment of
interest and after its accountal also?
This can be done if particulars
of date of drawal, date of mortgage, and date of insurance
of the vehicle are furnished.
Otherwise, C.C. cannot be issued.
This is because delay of more than a month between
the date of drawal of advance and vehicle mortgage / insurance
attracts heavy penal interest in case of MCA.
Can the balance of interest due on Computer
Advance be waived on the death of the Government servant as
in the case of HBA, MCA etc
No. It cannot be waived in case of computer Advance.
Can there be a gap between completion of
repayment of principal and stating of the repayment of interest
as some time is required for calculation of interest?
No. Immediately on the completion of principal, the interest repayment
must be started otherwise penal interest will have to be paid
for delayed payment of interest.
How will I know if there are any
Missing Credits in relation to recovery of Principal and Interest?
How can I know the status of my Loan
Account?
When accounts are closed at the end of
March each year, Balances are communicated to Loanees for
their information and acceptance. Missing credits are also intimated so as to
facilitate the furnishing of details by the Loanee.
Who should
approach the AG Office for issue of a Clearance
Certificate?
After recovery
of both Principal and Interest, the Department is required
to approach the AG Office for the issue of a Clearance Certificate.
If I am a Gazetted Officer whose entitlements
are maintained by the AG Office, then who is responsible for
calculation of interest?
In respect of those Gazetted Officers whose accounts we maintain,
the AG Office is responsible for calculation of interest.
What do
I do in the case of misclassification of
HDFC credits?
In such
cases, the sections dealing with the case will communicate
the particulars to Loans I and Loans I will further advise
the Treasury concerned to transfer the credits from HBA to
HDFC.
