Whether a Life-Threatening Rescue by Cop Can be Treated as Routine Duty, Madhya Pradesh HC Clarifies  ||  Madhya Pradesh HC: Officer Cannot Oversee Department Conducting Disciplinary Proceedings Against Him  ||  Madras High Court: POCSO Act Does Not Exempt Romantic Relationships Involving Minors  ||  SC Upholds Haryana Rule Delaying Aid to Kin Accused of Murdering Government Employees  ||  Supreme Court: Lokayukta Special Police is Not Exempt From RTI as an Intelligence Body  ||  Supreme Court: Curable Irregularity in Appointments Cannot Nullify Entire Recruitment Process  ||  SC: Dismissal, Being the Severest Punishment, Should be Imposed Only For Grave Misconduct  ||  SC: Constructive Res Judicata Applies to Grounds Omitted Through Negligence or Inadvertence  ||  Madras High Court: Honour Killing is a Shameful Act and an Extreme Manifestation of Casteism  ||  Bombay High Court: Traditional Families Often Hesitate to Report Sexual Offences    

Recovery of Interest on delayed remittance of Government Receipts into Government Account- (Reserve Bank of India) (26 Sep 2019)

MANU/RMIC/0133/2019

Banking

In Circular DGBA.GAD.No.H-4831/42.01.011/2012-13 dated February 13, 2013 wherein, in order to bring uniformity in the procedure of reporting both central and State government transactions to Reserve Bank, it was advised that the petty claims of delayed period of penal interest involving amount of Rs. 500/- or below will be ignored and excluded from the purview of penal interest.

With a view to bring further uniformity in the procedure for reporting both central and state government transactions to Reserve Bank, it has been decided with the approval of Comptroller and Auditor General of India that instructions given in para 7.4 of CGA's OM S-11012/1(31)/AC(22)/2015/RBD/332-424 dated March 9, 2016, will be made applicable to State government transactions also i.e ignoring petty claims of penal interest involving an amount of Rs. 500/- or below and excluding them from the purview of penal interest, and applying the limit of penal interest of Rs. 500/- on per transaction basis.

Tags : GOVERNMENT RECEIPTS   RECOVERY   INTEREST  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved