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PAD CIRCULAR NO. 64 dated


Personnel Administration Division, HO, New Delhi Telephone No. : 26102303 Ext. 353 Fax: 26196491

23.12.2011

TO ALL OFFICES PAD CIRCULAR NO.64 INTEREST FREE FESTIVAL ADVANCE TO THE BANK EMPLOYEES In terms of existing guidelines circulated vide PAD Circular No.12/2010 dated 29.12.2010, all employees are eligible for interest free Festival Advance equal to one months Basic Pay subject to: Maximum of ` 30000/- for Officers. Minimum of ` 8000/- and maximum of ` 20000/- for Clerical Staff. Minimum of ` 6000/- and maximum of ` 15000/- for Subordinate Staff. 2. A communication has been received from Indian Banks Association informing therein that the Government has approved the revision in limits of Festival Advance to the employees, as under:One months Basic Pay subject to: Maximum of ` 25,000/- for Officers. Minimum of ` 8000/- and maximum of ` 20000/- for Clerical Staff. Minimum of ` 6000/- and maximum of ` 15000/- for Subordinate Staff. 3. The matter was placed before the Board in its meeting held on 23.12.2011, wherein it has been resolved that the rates of Festival Advance as approved by the Government, be implemented with immediate effect. 4. The other terms and conditions shall remain the same and the procedure as communicated vide IRMD, Loans & Advances Circular No. 137 dated 29.12.2010 for allowing Festival Advance should be followed. 5. All concerned are requested to note the same for meticulous compliance.

(N.K. Niranwal) DY. GENERAL MANAGER

file:///C:/Users/Himadri/Desktop/Latest%20Intt%20free%20festival%20adv%20for%20p... 11/30/2012

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