master circular-2010 - motor vehicle advance scheme

8/6/2019 Master Circular-2010 - Motor Vehicle Advance Scheme

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CO.HRDD No.G. 17 / 11 / 20.02.01/ 2010-2011 July 1, 2010

The Principal Chief General Manager/Regional Director/ Chief General Manager-in-Charge/Chief General Manager/ General Manager-in-Charge /Principals of Training Establishments,Reserve Bank of India----------------------------------------------------------------

Dear Sir/ Madam,

Master Circular for Grant of Advances toEmployees for Purchase of Motor Vehicles

We forward herewith updated version of the Master Circular consolidating all the

existing instructions on the subject. List of circulars consolidated is given in

Appendix.

3. Contents of this circular may please be brought to the notice of all

employees attached to your office and local units of the recognised Associations /

Union of Officers / employees.

Yours faithfully,

-sd-

(Neena R Jain)Deputy General Manager

Encl : 20 sheets


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2Master Circular on Scheme for Grant of Advances to Employees for Purchase of Motor Vehicles

Master Circular

on

Scheme for Grant of Advances toEmployees for Purchase of Motor Vehicles

Reserve Bank of IndiaHuman Resources Development Department

Central OfficeMumbai


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Master Circular CO.HRDD No.G. 17 / 11 / 20.02.01/ 2010-2011 dated July 1, 2010 on

Scheme for grant of Advances toemployeesfor purchase of Motor Vehicles

PART- I

Master Circular for grant of advances to Officers for purchase of motorcars

1. Introduction

1.1 The scheme of grant of advances for purchase of motor vehicles to officers

of the Bank was introduced in May 1949. Under the scheme confirmed

officers drawing pay above a certain level were eligible for drawal of

advance for purchase of a car. The terms and conditions governing grant of

vehicle advances underwent changes with the passage of time. The

existing rules / terms and conditions governing grant of advances for

purchase of motorcar are given in the following paragraphs.

2. Eligibility

2.1 All officers, who are confirmed in the Banks service may be granted

motorcar advance irrespective of the pay drawn by them. Effective from

July 22, 2008, officers officiating in Grade 'A' will be eligible to avail of

Motor Car Advance as per their entitlement in Grade 'A' with effect from the

date of promotion as Assistant Manager. Effective from June 9, 2004, all

directly recruited officers who were staff candidates and confirmed in their

substantive grade will be eligible for grant of advance for purchase of

motorcar on completion of at least six months service as an officer.

2.2 In case both the husband and wife are employed in the Bank as officers,

both may be granted motorcar advance for buying two separate vehicles or

they may be allowed to pool their vehicle advances to buy one vehicle

subject to fulfillment of other prescribed eligibility conditions.In such cases

advances should be sanctioned to the spouses separately but within their

admissible amounts. However payment to the seller / dealer may be made

by one DD/Cheque except where spouses are posted either at different

centres or departments at one centre having different salary drawing units,

in which case it may be disbursed separately by DD/Cheque in favour of

the same seller / dealer. On the date of application, an officer should have

at least one years service to his/her credit before retirement.

2.3 On the date of application, an officer should have at least one years

service to his/her credit before retirement.


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3. Quantum of advance, valuation of vehicle, etc.

3.1

3.2 An officer who has already purchased a car either from his/her own

resources or by funds secured from private sources will not be eligible for

an advance from the Bank for repayment thereof. The advance, if required,

should be availed of before purchase of the vehicle.

3.3 In case of purchase of a second hand car, the market value of the car is to

be ascertained from any of the offices of the four subsidiaries of the

General Insurance Corporation of India (viz., Oriental Fire and General

Insurance Co. Ltd., New India Assurance Co. Ltd., United India Insurance

Co. Ltd. or National Insurance Co. Ltd.) or Automobile Association of India

or the licenced surveyors or Govt. approved valuers / assessors. A letter /

certificate from any of the above agencies submitted by the officer

concerned may be accepted. In case it is not possible to obtain information

from the above noted sources, offices may make enquiries with RTO

agents, local dealers in second hand vehicles, etc.

3.4 Vehicle advance will also be available for purchase of a second hand motor

car from a company authorized re-seller, dealing in resale of used cars. In

such cases advance may be granted without insisting on the car being

actually registered in the name of the selling company/dealer. However,

before sanctioning the advance an undertaking as per proforma enclosed at

Annex I may be obtained from the applicant. He/she may also be advised to

a) get the existing entry of hypothecation recorded in the certificate

of registration duly cancelled;

b) take necessary steps for recording the hypothecation entry in the

name of the Bank; and

c) secure physical possession of the said motor car.

3.5 In cases where advance payment is required to be made to the

manufacturer or company's authorised dealer as a pre-condition for booking

of the car, the officer may be granted advance for this purpose.

Quantum of advance

Officers inGrade Fand E

100% of the cost of car (including insurance, taxes andaccessories etc,) or Rs.4,00,000/- (Rupees Four lakhonly), whichever is less (Effective from March 27, 2001).

Officers inGrade A

to D

90% of the cost of car ( including the cost of accessories,Insurance charges and Road tax) or Rs.3,50,000/-

(Rupees Three lakh fifty thousand only), whichever isless (Effective from August 6, 2002).


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3.6 No advance can be granted for purchase of vehicles from the close

relatives like father/mother, brother/sister, son/daughter, wife/husband, etc.

3.7 The advance will be sanctioned only if the total monthly recovery towards

all eligible loans & advances of the applicant from his/her salary together

with the proposed recovery on account of the advance applied for is within

25% of his/her total monthly emoluments.

4. Disbursement of advance

4.1 All advances sanctioned to the officers for purchase of motor cars will be

disbursed by means of Bankers cheques drawn in favour of dealers/sellers

and crossed Account Payee. Such cheques will be delivered to the officers

against their stamped receipts with instructions to deliver the cheques to the

dealers/sellers only against delivery of the motor cars and all documents

relating to them including transfer forms in their favour.

4.2 The advance will be paid by debit to Advances to staff on account of

purchase of motor vehicles, bicycles, fans etc., Account and recoveries

made through salaries or otherwise will be directly credited to this account.[5. Recovery

5.1 The advance may be recovered in monthly instalments as follows:

Quantum of loan Recovery instalment

Grade F and E Up to Rs.1,60,000/- Rs. 800/-

Rs.1,60,001/- to Rs.3,00,000/- Rs.1,500/-

Rs.3,00,000/- and above Rs.2,000/-Grade A to D Up to Rs.1,60,000/- Rs. 800/-

Rs.1,60,001/- to Rs.3,00,000/- Rs.1,500/-

Rs.3,00,001/- to Rs.3,50,000/- Rs.1,750/-

5.2 Recovery of advance will commence from the month subsequent to the

month of disbursement of advance.

6. Interest Rate

6.1 Rate of interest effective from July 1, 2001 is as under :

Quantum Rate of interest

up to Rs.1,00,000/- : 6% per annum

above Rs.1,00,000/- : 8% per annum

6.2 Interest will be charged on the amount of advance outstanding at the end

of each month and will be recovered in instalments, each instalment being

not appreciably more than the instalment relating to the principal repaid.


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Recovery of interest will commence from the month following that in which

the repayment of principal has been completed.

7. Documentation

7.1 At the time of drawing the advance, the officer will be required to furnish an

Authority Letter in form No.Gen.188 of the General Administration

Manual Vol. II ( copy enclosed at Annex II) and on completing the

purchase, he/she should submit the required cash receipts, registration

book issued by the RTO (with the Banks lien noted thereon), etc. The

officers who do not have adequate balance in their Provident Fund

account to cover the loan amount have to furnish two sureties. In the case

of motor vehicles allotted from Government quota, the officer should submit

the relevant allotment letter. In the case of second-hand cars, a duly

stamped sale agreement (to be retained with the Office) and Registration

and Insurance documents will be called for from officers, for inspection.

7.2 In cases where both spouses employed in the Banks service want to pool

their vehicle advances to buy one vehicle, the spouse in whose name the

vehicle is purchased will create the lien on the vehicle and the lien will not

be released till the loans of both the spouses along with the interest are

repaid fully. They will also be required to submit a letter of authority in the

respective proformae enclosed at Annex III & IV.

8. Insurance

8.1 The car will be insured comprehensively against full loss by fire, theft or

accident. Insurance on owner driven or other similar qualifying terms is not

sufficient for this purpose. The borrower should pay the premia regularly.

8.2 An officer drawing the advance should give to the Bank a letter in form

No.Gen.189 of General Administration Manual (copy enclosed Annex V)

addressed to the Insurance Company with which the motor car is insured,

notifying in the letter that the Bank is interested in the insurance policy.

This letter should be forwarded to the Insurance Company by the Bank andtheir acknowledgement obtained.

9. Grant of second/fresh advance for purchase of motorcar

9.1 A second/fresh advance may be granted to an officer without insisting on

the sale of vehicle purchased with the first advance. However, in order to

become eligible for the second advance, he/she should repay the first


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advance together with interest thereon and no advance may be granted

before the expiry of four years from the date of drawal of first advance.

9.2 (a) When an officer wishes to sell a vehicle purchased with the Banks

advance within a period of four years and utilize the sale proceeds for

purchase of another new vehicle, even if no fresh advance is required for

purchasing the second vehicle, he / she will neither be eligible for a fresh

advance nor will he/she be permitted to utilize the sale proceeds for

purchase of another vehicle (new or old) unless a period of four years

has elapsed from the date of drawal of the previous advance.

(b) Where an officer had obtained an advance for the purchase of a second

hand motor car, pending allotment of a new car and the new car is

offered to him before completion of four years from the date of drawal of

the earlier advance, the restriction regarding the period mentioned in the

preceding paragraph may be relaxed. To be eligible for this relaxation,

the officer concerned should have declared in his/her application for

advance for purchase of the second hand car that his/her name for

allotment of a new car has been registered either through the Bank or

otherwise citing the relevant reference. In such cases, he/she should first

sell the old car and the fresh advance will be restricted to the difference

between the purchase price of the new car or his/her entitlement limit,

whichever is lower, and the net sale proceeds of the old one left after

repayment of the earlier advance with interest thereon.

(c) No relaxation of the period mentioned in para 9.2 (a) above will be

permitted if a fresh advance is required for the purchase of another

second-hand car.

(d) Applications for the first and subsequent advance or permission for sale

of a car purchased with the aid of an advance from the Bank on which

interest has not been fully repaid, will be made in form No.Gen.190 and

Gen.191 (copies enclosed at Annex VI & VII) respectively of the GAM.

9.3 A second advance may be granted to an officer without insisting on the

condition of repayment of earlier car advance (as described in para 9.2

above) or on the sale of the vehicle purchased with the first advance,

subject to the conditions stated below:

(i) The model of the car purchased with earlier advance should not be

less than 10 years old at the time of availing second/subsequent

advance.


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(ii) A period of not less than five years should have lapsed from the

date of drawal of earlier advance.

(iii) The outstanding amount of earlier advance together with interest

accrued thereon will be adjusted from the entitlement limit of second

/ subsequent advance and only the balance amount will be

disbursed. The amount outstanding shall continue to be repaid along

with the interest at the prescribed rate. The new car must also be

insured according to the Banks Rules.

9.4 An officer who has availed of advance for purchase of two wheeler and

desires to purchase a motor car is allowed a fresh advance after a lapse of

a minimum period of one year from date of drawal of the earlier advance.

For this purpose the officer has to sell the two-wheeler. The quantum of

fresh advance will be restricted to the difference between the purchase

price of the motor car and the net sale proceeds of the two-wheeler subjectto the officers entitlement limit mentioned in para 3.1 above.

10. Other conditions

10.1 When an advance is sanctioned to an officer for the purchase of a car of the

make and model mentioned in the relative application, the amount should

be utilised for the purchase of the specified car only. In case for any reason

he/she is unable to purchase the said car, the amount of advance should

be refunded forthwith and a fresh application made for advance for the

purchase of another car.

10.2 An advance sanctioned for the purchase of car is valid for six months from

the date of sanction. A sanction not utilised within the prescribed period will

lapse.

10.3 An officer who draws an advance for the purchase of a car is expected to

complete his/her negotiations for its purchase and make final payment

within one calendar month from the date of drawal of the advance or within

such further extension of period as the sanctioning authority may grant. Incase of failure to comply with these requirements, he shall be liable to

refund the full amount of the advance together with interest thereon for one

calendar month and for such extension as might have been granted. If

he/she does not refund the full amount of the advance and interest thereon

within the aforesaid period, he/she shall be liable to pay, by way of penalty,

compound interest at a rate not less than 2 % per annum above the rate

at which the advance was sanctioned or at the Bank Rate as the


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sanctioning authority may determine. In such cases, interest at the normal

rate is chargeable for one calendar month and extension thereof, if any,

allowed by the sanctioning authority. For defaults beyond the above period,

penal interest will be recoverable for the amount of advance and interest

thereon as on the date of default.

10.4 An officer applying for advance for purchase of second hand car should be

advised to produce the relative registration book issued by the Regional

Transport authorities. The particulars mentioned in the registration book

such as registration number, name and address of the owner as also

his/her signature should be verified with reference to the

information/particulars furnished in the application for advance and sale

agreement.

11. Extension of the scheme to Banks Medical Officers

Effective from January 02, 1997, Banks Medical Officers placed in Grade

C may be granted advance for purchase of car for their own use subject to

the same limit and on the same terms and conditions as applicable to full

time officers of the Bank.

.Part II


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PART - II

Master Circular for grant of advances to employeesfor purchase of motor-cycles/scooters

12. Introduction

The scheme for grant of advances for purchase of motorcycles was

introduced in May 1949 starting with the confirmed officers. It wasextended to employees in Class II and Class III in September 1957 and to

employees in Class IV in October 1990. The rules / terms and conditions

governing grant of vehicle advances underwent changes / improvements

with the passage of time. The existing rules / terms and conditions

governing grant of advance for purchase of motor cycles / scooters are

given in the following paragraphs:

13. Eligibility

13.1 Effective March 8, 2003 all directly recruited officers, who are confirmed in

the Banks service and other officers who have put in at least six months of

officiating service on long term basis and all other confirmed full time

employees who have put in total service of five years including temporary

service will be eligible for grant of advance for purchase of motor

cycles/scooters for their own use.

13.2 A blind or orthopedically handicapped employee of the Bank may be

granted vehicle advance for purchase of three-wheeler scooter intendedfor the use of disabled people provided they are confirmed and have put in

at least a total service of three years in the Bank.

13.3 The ex-servicemen employees will be eligible for the advance on their

confirmation in the Banks service.

13.4 Part-time service rendered before appointment into full-time service should

be reckoned for the purpose of computing minimum qualifying service

prescribed for the advance.

13.5 At the time of application, an employee should have at least one year of

service left in the Bank.

An employee in Class III/IV who applies for an advance for purchase of a

motor cycle/scooter within a period of three years from the date of drawal

of the bicycle advance will not be eligible for the advance unless he obtains


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13.6 prior permission of the Bank to sell the bicycle and applies the sale

proceeds towards liquidation of the outstanding advance and interest

thereon and/or purchase of the motor cycle / scooter

.

14. Quantum of advance, valuation of vehicle, etc

14.1 With effect from October 6, 2005, the amount of advance for Class I,

Class III and Class IV employees will be 90% of the cost of vehicle

(including the cost of accessories, insurance charges and road tax) or

Rs.60,000/- (Rupees sixty thousand only) whichever is less.

14.2 In case of purchase of second hand motor cycles/scooters, the market

value of the vehicle is to be ascertained from any of the Offices of the four

subsidiaries of the General Insurance Corporation of India (viz., Oriental

Fire and General Insurance Co. Ltd., New India Assurance Co. Ltd., United

India Insurance Co. Ltd. or National Insurance Co. Ltd.) or Automobile

Association of India or the licenced surveyors or Govt. approved valuers

/assessors. A letter/ certificate from any of the above agencies submitted

by the employee concerned may also be accepted. In case if it is not

possible to obtain information from the above noted sources, offices may

make enquiries with RTO agents, local dealers in second hand vehicles,

etc.

14.3 An employee availing of advance is required to complete negotiations for

the purchase and make final payment for the vehicle within one month fromthe date of drawal of the advance or any extension thereof and submit

promptly to the Bank the following documents

(a) Cash receipt/s evidencing the purchase of vehicle.

(b) A letter in duplicate addressed to the Insurance Company with which

the vehicle is insured, asking them to notify in the insurance policy

about the Banks interest / lien on the vehicle financed by the Bank.

(c) Certificate of Insurance.

(d) Registration Book issued by RTO with Banks lien noted therein, taxpaid certificate, etc.

15. Disbursement of advance

15.1 The advance will be disbursed by means of crossed Account Payee

cheque drawn in favour of the dealer/seller. Such cheque will be delivered

to the applicant against his/her stamped receipt with instructions to deliver


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it to the dealer/seller only against delivery of the motor cycle/scooter and all

documents relating to it.

15.2 The advance will be paid by debit to Advances to staff on account of

purchase of motor vehicles, bicycles, fans etc., Account and the recoveries

made through salaries or otherwise will be directly credited to this account.

16. Recovery of advance

The recovery of the advance will be made, commencing from the monthsubsequent to the month of disbursement of the advance, in not more than

100 monthly instalment, the amount of each instalment (excepting the last

instalment) being not less than Rs.600/- p.m.

17. Interest Rate

Effective from July 1, 2001, interest is charged on motor cycle/scooter

advance at 6% per annum

18. Documentation

18.1 Application for the advance will be made in Form No. Gen. 190 of the

General Administration Manual (GAM) Vol.II (copy enclosed). The advance

will not be granted if the employee had drawn a similar advance within the

preceding four year period.

18.2 Before the amount is advanced the applicant is required to furnish an

Authority Letter in Form No.Gen.188 of the General Administration Manual

(GAM) Vol.II (copy enclosed). The employees who do not have adequate

balance in their Provident Fund account to cover the loan amount have tofurnish two sureties. Before the advance is actually disbursed, the

employee should be asked to produce a letter from the dealer /seller

indicating therein a firm date by which the vehicle would be delivered.

19. Other terms and conditions

All other rules / terms and conditions governing grant of advances for

purchase of motor cars (new as well as used) by officers will apply mutatis

mutandis to the grant of advances for purchase of motor cycles/scooters.

************************************


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Annex - I(Rs. 100/- stamp paper may be used)

The Regional Director/The Chief General Manger-in-charge/General Manager-in-chargeReserve Bank of India

---------------------------------

Request for release of vehicle advance-Undertaking to refund the advance

I have negotiated and settled the deal for purchase of a second hand Motor Car (4 wheeler), thedetails where of are here under

a) Registration No ---------------------------------------------------------------

b) Brief description of vehicle -------------------------------------------------

c) Name of the Registered Owner -------------------------------------------

d) Full address of the Owner ---------------------------------------------------

e) Type of body --------------------------------------------------------------------

f) Maker's name -------------------------------------------------------------------

g) Month and year of manufacture --------------------------------------------

h) Number of cylinders -----------------------------------------------------------

i) Chassis Number -----------------------------------------------------------------

j) Engine Number -----------------------------------------------------------------

k) Details of existing hypothecation, if any ----------------------------------

2. I say and submit that;

a) The___________________________ Bank from whom the above named owner has

availed loan for the purpose of purchase of vehicle has repaid the loan and the said bank

has issued letter dated _______________ of termination of hypothecation and executed

the Form No.35 (as per Rule 61 (1) of M.V. Rules) for cancellation of the note endorsed in

the registration book;

b) The owner has entered into a deal with Mr________________________ Proprietor

of________________________ for effecting the sale of said motor car and accordingly

issued a letter of authorization dated_____________ in favour of _________________ for

receiving the sale proceeds of the said motor car.

c) Shri ______________________ of M/s _____________________ has entered into an

agreement with me for sale of the said car, after completion of the valuation of the said

car and other pre-sale negotiations and formalities in relation thereto;


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d) I have requested you for grant of car loan of Rs.__________/- (in words) for the purpose

of purchasing the said motor car (four wheeler) and disbursement thereof the said amount

of advance may be released by way of Demand Draft/Pay order in the name of

__________________ payable at ____________ as the Motor car owner has authorised

Shri/M/s.-____________________ to receive the payment in his / its name. I am satisfied

in all respects that the owner of the motor car will not make any claim including payment of

agreed sale consideration from me or from the Bank.

e) I confirm the payment of the aforesaid amount by the Bank to

Shri/M/s______________________ pursuant to my request is a payment to me and on

my behalf and I would be liable for repayment thereof.

3 In consideration of the above hereby undertake to;

a) refund the entire amount of the aforesaid loan, in event of failure on my part of secure the

physical of possession of the motor car within ___ days (from the date of release of

vehicle advance by the Bank) and record of the right, title and interest and the

hypothecation in favour of the Bank in the certificate of registration book and otherrelevant and connected documents within the period of _____ days;

b) In such event I shall also be liable for the payment of penal interest at such rate over and

above the Bank rate on the amount of aforesaid loan by the Bank; and

c) In the event of any breach of the terms and conditions for vehicle advance, or on my failure

or willful default to fulfill the above obligations, I tender myself liable for disciplinary action

under RBI (Staff) Regulations, 1948.

Yours faithfully

( _______________________ )

Date :

Name :

Designation :

Department :

Telephone No. :

Signature verified.

Name :

Designation :

Department :

Stamp :

For Office use :

May be accepted


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/ / ./Gen.190

\ ] [ /Para 3.104(d3.109(iv

FORM OF APPLICATION FOR THE FIRST ADVANCEFOR THE PURCHASE OF A MOTOR CAR/MOTOR CYCLE/SCOOTER

/Place : /Date:

/ To,

_______________________________________________________________________________________

(______________ )(Through ______________)

/ Dear Sir,

__________ _________(______________ ) \

\ \ [

I request that I may be granted an advance of a sum of Rs.__________(Rupees__________________) for thepurchase of a ______________ under the Banks scheme for the grant of advances for such purposes.

Further particulars required in this connection are appended.

/Yours faithfully,

(/Signature)1. [ /Full name of employee :

2. /Provident Fund Index No. :

3. /Designation :

4. / Sale price/Agreed sale price of the vehicle proposed to be purchased

:

5. ?hether the vehicle proposed to be purchased is new or second hand

:

6. [ [ [The Make and Model of the vehicle and the year of Manufacture

:

7. . ( /

/ )The registration number of the vehicle (applicable in case of purchase ofsecond hand motor car/motor cycle/scooter) and the place of registration

:

8. /[ Particulars of the person/firm from whom the vehicle is proposed to bepurchased

() (a) /Name

() (b) /Full address

:

9. /

Amount of deposit, if any, made with the above dealer/seller or any other

agency together with the date of deposit

:

10. \ ( ) ?No. of instalments in which the advance, if sanctioned, will be repaid.

:

11. \ Particulars of last advance, if any availed of

() \

(a) Nature of advance

() \ (b) Amount of advance

( ) \ (c) Date on which the advance was drawn

() [/ \ (d) Name of Office/deptt. from which the advance was drawn

::::::

/ /Motor Car/Motor Cycle/Scooter

.Rs.

() ?


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(e) Whether the vehicle purchased was new or second hand

() [ [(f) Make and year of manufacture of the vehicle

() /[ (g) Name and address of the person/firm from whom purchased

() (h) Purchase price paid

() ? ,

, , ,

(i) Whether still in possession of vehicle? If not, the particulars of salesuch as the date of sale, name and address of the purchase, saleproceeds realized, etc.

() \ ,

(j) Whether the advance is repaid in full or still outstanding. If repaid infull, the date of repayment

() \ (k) The outstanding balance of advance with interest as on date :

. Rs

Rs.

12. / ]

, :Particulars of application if any for allotment of car/scooter pending with the Government of India through the Bank orotherwise.

( [ ) (For Office use only)

1 /( )

2. / ( )

3. [ / ( )4. [ / ( )

( )Rs.

/ / ( )Rs.

/ ( )Rs.

( [ )

/Local Allowance

/Dearness Allowance

/House Allowance

/Family Allowance

( )Rs.

Rs.

Rs.

Rs.

5. ( [ 11 1958 ]

.1882/142-58 )Monthly deductions from salary (vide Central Office letter StaffNo.1882/142-58 dated 11

thApril 1958)

]

Particulars as furnished by the applicant in his application have beenverified and found to be correct.

( : ,

)

(Note: In case any item can not be verified, it should be specificallymentioned).

/Signature:

/Designation: : 1 1999 ] . 1 7 1960 ] .2

1() [ 50,000/- [ , [ : ] (

/\ ) , - [ 2 (.131)

[ NB: Please note that in terms of instructions in para 1(b) of Administration Circular No.2 dated 7

thOctober 1960 read with Administration

Circular No.1 dated 1st

July 1999, every officer employee who acquires or disposes of any movable property above Rs.50,000/-, irrespectiveof whether whole or part of the cost of acquisition is financed through own sources or borrowed funds (including loan/advance from the Bank)has to report the details of the transaction to the Competent Authority in Form-2 (Gen.131) within a week after the transaction.

: 3 [Preservation Period : 3 years after repayment


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Appendix

Master Circulars on grant of advances to employees for purchaseof motor vehicles - List of circulars consolidated

Sr.No.

Circular No. Date Subject Part No. Para No.

1 2 3 4 5 6

1. AC No.13 21.05.1949 Grant of advances forpurchase of motor vehicles toofficers of the Bank

I 1, 9.1,10.3 & 8

II 1, 8

2. AC No.12 14.09.1957 Grant of advances toemployees in Classes II andIII for purchase of motorcycles, scooters and bicyclesand to employees in Class IVfor the purchase of bicycles

II 1, 8

3. Est.No.1013/ 44-63/64

03.09.1963 Grant of advances forpurchase of motor vehicles toofficers of the Bank

I 9.1

4. Est.No.5799/44-68/69

28.05.1969 Grant of advances toemployees for purchase ofmotor vehicles, bicycles andfans

I 4.2

II 5.2

5. PRS(II)No.948/ 38-70/71

07.01.1971 Grant of advances forpurchase of motor cycles andscooters

II 2.1(b)

6. Est.No.3394/44-74/75

05.12.1974 Staff - Grant of advances forpurchase of motor vehicles,bicycles and refrigerators

I 4.1

II 5.1

7. Est.No.4234/ 44 -76/77

07.01.1977 Staff Grant of advances forpurchase of motor vehicles

I 3.5

8. Est.No.2319/44-77/78

13.10.1977 -do- I 10.4

9. PPD No.612/ W.38-81/82

21.01.1982 Grant of advance forpurchase of motor cars /motorcycles/ scooters/ consumerarticles

I 2.3

II 2.3

10. PPD No.278/W.38/83-84

23.09.1983 Grant of advance forpurchase of motor cycles andscooters

II 2.2

11. PPD No.507/W.38/83-84

21.12.1983 Grant of vehicle advance toblind and orthopadicallyhandicapped employees

II 2.4I

12. PPD No.G33/

354/W.38-90/91

26.10.1990 Grant of consumer article

advance/vehicle advance -Part-time service

II 2.4(b)

13. DAPM (PMW)No. 499/ 20.02.01/ 95-96

26.02.1996 Grant of advance forpurchase of motor vehicles toofficers

I 2.1

II 2.1(a)

14. DAPM(PMW)No.683 / 20.02.01/ 95-96

21.05.1996 Market value of second handmotor vehicles

I 3.3

II 3.2


20/21


Sr.No.

Circular No. Date Subject Part No. Para No.

1 2 3 4 5 6

15. DAPM (PMW) No.G.4/88/20.02.01/ 96- 97

09.08.1996 Grant of advance forpurchase of motor car toofficers

I 3.4

16 DAPM(PMW)No.G.28/ 288/ 20.02.01/96-97

20.11.1996 Staff Officers Grant ofadvance for purchase ofmotor car

I 9.4

17. AC No.6 01.01.1997 Grant of advance forpurchase of motorcycle/scooter

II 6

18. AC No.7 02.01.1997 Grant of advance forpurchase of motor car

I 6.1

19. DAPM(PMW)NoG.34/ 369/ 20.02.01/96-97

02.01.1997 Officers Bank's MedicalOfficers Grant of advancefor purchase of car

I 11

20. DAPM(PMW)No.G.66 /708/ 20.02.01/96-97

12.05.1997 Staff Officers Grant ofadvance for purchase of car

I 2.2

21. DAPM (PMW) No.G.24/ 231/20.02.01/97-98

04.11.1997 Grant of advance forpurchase of car to officers Interest on advance

I 3.4

22. DAPM No.G.31/415/17.06.01.03/97-98

01.01.1998 Senior Officers in Gr.'E' Grant of advance forpurchase of car andreimbursement of petrol, etc.expenses

I 3.1(A)

23. DAPM No.G.38/570/17.06.01.03/97-98

11.03.1998 Senior Officers in Gr.'F' andabove Grant of advance forpurchase of car

I 3.1(A)

24. DAPM (PMW) No.G.47/ 675/

17.06.01.03/97-98

27.04.1998 Senior Officers in Gr.'E' andabove Grant of advance for

purchase of car

I 3.1(A)

25. DAPM (PMW) No.G.2/72/20.02.01/ 98-99

01.08.1998 Grant of second advance forpurchase of motor vehicle

I 9.1

26. DAPM (PMW)No.G.5/19/ 20.02.01/99-2000

09.07.1999 Advances for purchase of carto officers second advancefor purchase of car

I 9.3

27. DAPM (PMW)No.G.45/485/20.02.01/2000-01

27.03.2001 Revision of scales of pay andallowances of the officers ofthe Bank

I 2.1, 3.1 &5.1

II 3.1 & 6

28. DAPM(PMW)NoG.4

9/549/ 20.05.01/2000-01

05.05.2001 Staff - Improvement in

quantum of advances -Workmen staff

II 3.1 & 6

29. DAPM (PMW)No.400/20.02.01/2001-02

02.03.2002 Master circular for grant ofadvances to employees forpurchase of motor vehicles

2


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master circular-2010 - motor vehicle advance scheme

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