Loans and Advances by the Central Government – Interest rates and other terms and conditions
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F.No.5(3)-B(PD)/2015
Government of India
Ministry of Finance
Department of Economic Affairs
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 3rd February, 2016
OFFICE MEMORANDUM
Subject:- Loans and Advances by the Central Government – Interest rates and other terms and conditions.
Reference this Ministry’s Office Memorandum F.No.5(3)-B(PD)2014 dated 29th December, 2014 on the captioned subject.
2. The lending rates, categories and conditions prescribed in the aforesaid Office Memorandum have been reviewed. The revised rates of interest, categories and conditions as given in the Table below, would be applicable from 1st April, 2015 and till the time these are reviewed:
* Loans to State Government would be under EAP loans only. For Ways & Means loans, State Govts. have access to RBI window. In case any State has any specific contingent requirement, the proposal would be considered on case specific basis by Budget Division.
# The window of investment and working capital loan to CPSUs from Government of India in general, is hereby closed. CPSUs, in general, are hardly having debt and hence should raise debt from market or from banks.
Only if CPSU is justified as significant from ‘Strategic’/ ‘Security’ angle, banks refuse loan to it and it has no real assets including land, to monetise, would loan be extended to it at 11% with the prior approval of Budget Division. However, wherever Investment and Working Capital loan has already been extended to CPSUs in 2015-16, the rate of interest would be at 11.50% and 13.50% respectively.
@The window pertaining to loans to Financial Institutions in the Public Sector, Port Trusts, KVIC, NHAI, Municipal Corporation of Delhi, National Co-operative Development Corporation (NCDC), Commodity Boards, Social Service
Institutions, Individuals etc. in general, is hereby closed seeing the offtake under this in last 3 financial years. However, if a specific case still comes in future, it would be examined by the Budget Division, DEA on merits of that case.
3. The terms, including interest rate of loans to Foreign Governments may be settled in consultation with Budget Division. Terms for on-lending of funds under externally aided projects should be in accordance with.
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