Modi government offers interest-free festival advance of Rs 10,000 to employees of autonomous organizations
Festival advance For employees of Autonomous Communities: Good news for employees working in autonomous central government agencies. The Union government has decided to extend the interest-free festival advance of Rs 10,000 to employees working in autonomous agencies, according to an office memorandum from the Ministry of Finance released today. This package was announced earlier only for government employees.
In October 2020, the government announced the granting of an interest-free advance of 10,000 rupees as a “special festival package” to central government employees.
“… in order to allow State agents to meet the expenses relating to festivals and to encourage expenses thus giving a boost to economic activities, in execution of the decision taken by the Government, this Department empties OM of the same number dated October 12, 2020 (copy attached) issued an order for the granting of an interest-free advance in the amount of Rs. 10,000 / – as a special festival package to be paid to advance to government employees.
“In this regard, it is specified that the nodal ministry / department may consider adopting this special festival package under conditions similar to those prescribed in this department.
OM with an even number dated October 12, 2020 to employees working in autonomous organizations as well as within the limits of existing budgetary provisions and no additional funds will be provided for this purpose ”, declared the OM on November 24, 2020.
How does the festival advance for government employees?
The package amount is Rs. 10,000 and it is interest free. It must be paid as an advance to the official. This amount is interest free. The government had declared in its OM of October 12, 2020 that the amount of the festival package would be released via the preloaded Rupay card of SBI.
The amount paid under this package would be recovered by the government in ten (10) installments at most.
“DDOs, upon receipt of the officials’ request for this package, can process and acquire the prepaid cards from SBI for issuance to applicants. A detailed
The SOPs for DDOs to obtain these cards would be issued separately, ”the government said.
Who can get an advance at the festival
The festival package can be granted to a State employee if he is on duty or on leave other than preparatory leave for retirement, on the date of payment of the advance.