Delhi HC: Mere Consumption of Alcohol Daily Doesn’t Make Person Alcoholic  ||  Bom. HC: Epilepsy Not a Ground to Seek Divorce  ||  Pat. HC: Imperative on Trial Court to Ascertain Age of Victim Upon Challenge by Accused  ||  SC: Student Can’t Participate in 2022 NEET Counselling Based on 2019 Results  ||  Kar. HC: Continuing in Service After Expiry of Probation Period Doesn't Imply Automatic Confirmation  ||  JKL HC: Offences Under PoC Act can be Invoked Against Person Discharging Public Duty  ||  SC: Automatic Vacation of Stay After Six Months Requires Re-Consideration  ||  SC: Disclosure Made to Settlement Commission Needn't be Something that Wasn’t Discovered by AO  ||  Tel. HC Stay GO Which Regularized Notarized Documents of Non-Agricultural Urban Land Sales  ||  Cal. HC: There Must be a Balance Between Religious Freedom U/A 30 and Overwhelming Public Interest    

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 2023 - All Rights Reserved