: Govt staff upset as home loan scheme comes to a halt #IndiaNEWS #Goa News SOIRU VELIP | NT Panaji: The state governmentâ€™s process of finalising/analysing the existing house building advance scheme

Govt staff upset as home loan scheme comes to a halt #IndiaNEWS #Goa News
SOIRU VELIP | NT

Panaji: The state governmentâ€™s process of
finalising/analysing the existing house building advance scheme has perturbed a
number of employees, with the government asking the concerned banks not to
sanction any loan under the scheme until further orders.

On February 27, under secretary, finance (budget), Maya
Pednekar sent letters to the banks, which have been sanctioning advances to the
government employees under the house building advance scheme, requesting them
not to sanction any loan until further order.

The letter states that the government is in the process
of finalising/analysing the existing scheme.

In view of this decision, 29 government employees from
eight different departments have been facing hardship due to the sudden
discontinuation of the scheme.

As per information available with this daily, Bank of
India had received 29 house building advance files, approved by various
government departments for disbursement during the period from February 7 to
February 29.

After receiving the letter from the under secretary,
finance, zonal manager of the Bank of India, on February 29, wrote to the
additional secretary of finance stating that the government employees whose
house building advance loans have been sanctioned by various government
departments have already executed the agreement by paying marginal amounts for
purchase of flats.

â€œThese government employees are already hard-pressed for
payment to the builders. We now need to pay the balance amount to the builders
urgently. Sudden closure of disbursement of sanctioned amount by the government
departments will have a negative impact and they will face hardship,â€? the
letter sent by the bank to the additional secretary of finance states.

A letter sent by the Bank of India on March 2 has
requested the government to permit the bank to disburse Rs 25 crore, which is
the balance guarantee amount available with the bank due for repayment in the
house building advance loan accounts. However, sources said that there is no
response from the finance department on the request.

According to sources, the state government has been
implementing the housing loan scheme for its employees as per the service rules
since decades. As per the scheme, an employee has to pay two per cent interest
while the remaining five per cent interest on the loan is paid by the
government.

It is learnt from the sources that the government wants
to modify the scheme wherein the employee will have to pay five per cent
interest and the government will pay only two per cent interest on the loan.
The post Govt staff upset as home loan scheme comes to a halt appeared first on The Navhind Times.