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GIS-Revised Rates of Intrest 2010

GIS-Revised Rates of Intrest 2010

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Published by SEKHAR
GOVERNMENT OF ANDHRA PRADESH ABSTRACT PUBLIC SERVICES – Welfare – Andhra Pradesh State Employees Group Insurance Scheme, 1984 – Revised rates of Interest on accumulated Savings Fund – Orders –Issued. --------------------------------------------------------------------------------------------------------------------FINANCE (ADMN.II) DEPARTMENT G.O. (P) No.85 Dated. 29 .03.2010 Read the following:-

1. G.O. Ms.No.293, Finance & Plg. (FW: Accts.II) Dept., Dt.8.10.1984, 2.G.O.Ms.No.367, Fin. & Plg.
GOVERNMENT OF ANDHRA PRADESH ABSTRACT PUBLIC SERVICES – Welfare – Andhra Pradesh State Employees Group Insurance Scheme, 1984 – Revised rates of Interest on accumulated Savings Fund – Orders –Issued. --------------------------------------------------------------------------------------------------------------------FINANCE (ADMN.II) DEPARTMENT G.O. (P) No.85 Dated. 29 .03.2010 Read the following:-

1. G.O. Ms.No.293, Finance & Plg. (FW: Accts.II) Dept., Dt.8.10.1984, 2.G.O.Ms.No.367, Fin. & Plg.

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GOVERNMENT OF ANDHRA PRADESHABSTRACT
PUBLIC SERVICES – Welfare – Andhra Pradesh State Employees Group Insurance Scheme,1984 – Revised rates of Interest on accumulated Savings Fund – Orders –Issued.---------------------------------------------------------------------------------------------------------------------
FINANCE (ADMN.II) DEPARTMENTG.O. (P) No.85 Dated. 29 .03.2010
 
Read the following:-
1.G.O. Ms.No.293, Finance & Plg. (FW: Accts.II) Dept., Dt.8.10.1984,2.G.O.Ms.No.367, Fin. & Plg. (FW. Admn.II)Dept, dt:15.11.1994.3.G.O. Ms.No.381, Finance & Plg. (FW: Accts.II) Dept., Dt.5.12.1994,4.G.O. Ms.No.382, Finance & Plg. (FW: Accts.II) Dept., Dt.5.12.1994,5. G.O.Ms.No.193, Finance (Admn.II) Dept., Dt:18.11.1999 & Circular Memo.No.34520/147/Admn.II/A2/99,dt:18.11.1999.6.Govt. of India Ministry of Fin., Dept. of expr.O.M. No.7(4)/EV/2000, Dt.30-01-017.Govt. of India Ministry of Fin. Dept. of expr.O.M.No.7 (1)/EV/2001, Dt.2-1-2002.8.Govt. of India Ministry of Fin. Dept. of Economic Affairs No.F5 (1)-PD/2002, dt.30-03-2002.9.G.O. Ms.No.63, Finance & Plg. (FW: Pen-II) Dept., Dt.6.6.2000.10.G.O. Ms.No.345, Finance & Plg. (FW: Pen-II) Dept., Dt.7.7.2001.11.G.O. Ms.No.703, Finance & Plg. (FW: Pen-II) Dept., Dt.19.7.200212.G.O.(P) No.973, Finance (Admn.II) deptt., dated.11-12-2002 andCircular.MemoNo.1671/20/A2/Admn.II/2001, Dt.11-12-200213. G.O. Ms. No. 625, Finance (Pen-II) Department, dt. 2-9-2004.14. G.O. (P).No.671, Finance (Admn.II) Dept. Dt: 14-10-2004 andCircular.Memo.No.15612/356/A2/Admn.II/2004, Dt: 14-10-2004.15. G.O. (P) No.73, Finance (Admn.II) Department, dated 28.03.2005 andCircular.Memo.No.310/12/A2/Admn.II/2005, dated 28.03.2005.16. G.O. (P) No.64, Finance (Admn.II) Department, dated 28.03.2006 andCircular.Memo.No.1231/128/A2/Admn.II/2006, dated 28.03.2006.17. G.O.(P) No. 55, Finance (Admn.II) Department, dated.13-03-2007andCircular Memo No. 297/61/A2/Admn.II/2007, dated. 13-03-2007.18. G.O.Ms.No. 88, Finance (Admn.II) Department, dated. 12-04-200719. G.O.(P).No. 1402, Finance (Admn.II) Department, dated. 28.03.2008 andCircular Memo No. 391/90/A2/Admn.II/2008, dated: 28.03.2008.20. G.O.(P) No.101, Finance (Admn.II) Department, dated:31.03.2009 and Circular Memo No.562/67/A2/Admn.II/2009, dated: 31.03.2009.21. Government of India Ministry of Finance, Department of expenditure, New Delhi,O.M.No.7 (2) EV/2009, dated: 29.12.2009.22. From the Director of Insurance, A.P., Hyderabad, Lr.No.2/GIS-1/Tables/2008-2009, dated:02.03.2010.
* * *O R D E R:
In terms of the recommendation of the Committee constituted toreview the working of the A.P. State Employees Group Insurance Scheme andthe orders issued in the reference 2
nd
read above and in modification of thePara 8 of the G.O. 1
st
read above, orders were issued revising the rate of interest @ 12% per annum compounded quarterly with effect from01.11.1994 on the accumulations of the savings fund under Group Insurance
1
 
Scheme. According to Para 9 of the G.O.1
st
read above, the accumulations of savings fund part and Insurance Fund part shall carry interest at the ratesprescribed by Government from time to time. The rates shall be revisedbased on the revision of rates of interest made by Government of India fromtime to time on their savings funds i.e. G.P.F. etc. Accordingly orders wereissued in the reference 5
th
read above along with Tables of benefits.
2.
In the references 6
th
, 7
th
and 8
th
read above the Government of India have revised the rate of interest on GPF and other similarfunds reducing the rate of interest at 11% p.a. from 1.4.2000 to31-3-2001, at 9.5% p.a. from 1.4.2001 to 31.3.2002 and at 9%p.a. from 1.4.2002 onwards respectively. Consequently, StateGovernment have issued orders in G.O.Ms.No.63, Finance (Pen.II) Dept. dated 6.6.2000, G.O. Ms. No. 345, Finance (Pen. II) Dept.dt. 7-7-2001 and G.O.Ms.No.703, Finance (Pen. II) Dept., dt.19.7.2002, revising the rates of interest as 11% w.e.f. 1.4.2000and 9.5% w.e.f.1.4.2001 and 9% from 1.4.2002 on GPF and othersimilar funds vide references 9
th
to 11
th
read above. Accordinglyorders were issued in the G.O. 12
th
read above revising the ratesof interest on the A.P. State Employees Group Insurance SavingsFund at 11% p.a. w.e.f. 1.4.2000 to 31.3.2001, at 9.5% p.a. from1.4.2001 to 31.3.2002 and at 9% p.a. from 1.4.2002 onwards,compounded quarterly on cessation of membership from thescheme. The connected tables of benefits have also have beenissued in the form of Circular Memo in continuation of said G.O.covering the period from 01.04.2002 to 31.10.2004. Butsubsequently the rate of interest was reduced from 9% to 8%w.e.f. 01.04.2004 though the tables were already issuedcovering the period up to 31.10.2004.3. In the reference 13
th
read above orders were issued revising the rate of interest at 8% per annum from 01-04-2004 on GPF and other similar funds.Accordingly orders have been issued in the reference 14
th
read aboverevising the rate of interest on the A.P. Group Insurance Savings Funds w.e.f.01.04.2004 and the tables of benefit from savings fund have also beenrevised covering the period from 01.11.2004 to 31.03.2005 in the circularmemo dated:14.10.2004 issued in continuation with the above G.O. Basedon the Orders issued by the Government of India revising the rates of interest on the Central Government Employees Group Insurance Scheme andother similar funds fixing the rate of interest at 8% p.a. from 01.01.2005 to31.12.2007, orders were issued in the reference 15
th
, 16
th
and 17
th
readabove, revising the rates of interest at 8 % per annum and the tables of benefit of savings fund covering the period from 01.04.2005 to 31.03.2008.In the reference 18
th
read above orders were issued revising of slabs of paybased on the revised Pay Scale – 2005(OMC) w.e.f. November – 2005. Basedon the Orders issued by the Government of India revising the rates of interest on the Central Government Employees Group Insurance Scheme andother similar funds fixing the rate of interest at 8% p.a. from 01.01.2008 to31.12.2009, orders were issued in the reference 19
th
and 20
th
read above,revising the rates of interest at 8 % per annum and the tables of benefit of savings fund covering the period from 01.04.2008 to 31.03.2010.
2
 
4.Government of India in the reference 21
st
read above have continuedthe rate of Interest on the Central Government Employees Group InsuranceFunds @ 8% per annum from 01.01.2010 to 31.12.2010. Based on this, theDirector of Insurance being the Head of the Department concerned hasfurnished the proposals for fixing the rates of interest on the A.P.G.I.S. Fundsand also to issue revised tables of benefit of savings funds covering theperiod from 01.04.2010 to 31.03.2011 vide reference 22
nd
read above.5.In the above circumstances and after careful examination of the issue,Government hereby order that the rates of interest on the A.P. GroupInsurance Savings Funds be allowed at 8% per annum from 1
st
April, 2010onwards and the tables shall be issued for the period covering from 1
st
April2010 to 31
st
March, 2011.6.The Director of Insurance is further advised to obtain the Governmentof India revised rates of interest and submit proposals to the Government inadvance every year so as to issue orders in time.7.The Director of Insurance, A.P. Hyderabad shall take necessary furtheraction in the matter accordingly.8.Copy of this order is available on Internet and can be accessed ataddress http://www.ap.gov.in.goir”.
(BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH)L.V.SUBRAHMANYAMPRINCIPAL SECRETARY TO GOVERNMENT (FP).
ToAll Departments of Secretariat.All Heads of Departments.The Director of Insurance, A.P. HyderabadThe Director, Treasuries & Accounts, A.P. HyderabadThe Pay & Accounts Officer, A.P. HyderabadThe Registrar, High Court, A.P. HyderabadThe Secretary, A.P. Public Service Commission, HyderabadThe District Collectors/Superintendents of Police/Dist. Judges/Dist. Treasury Officers.The Chairman, A.P. Housing Board, HyderabadThe Secretary, A.P.S.E.B., Vidyut Soudha, HyderabadThe Chairman, Tribunal for Disciplinary Proceedings, HyderabadThe Financial Advisor and Chief Accounts Officer, Nagarjuna Sagar Project, Secretariat, HyderabadThe Director, Local Fund Audit, A.P. Hyderabad.The Director of Local Fund and Panchayat Raj Accounts, Hyd.The Secretary, Tungabhra Project Viz. Hospet, Bellary Dist.The Registrar, Osmania / Andhra / Sri Venkateswara / Sri Krishanadevaraya / Kakatiya/ Nagarjuna /Jawaharlal Nehru Technological UniversitiesThe All Recognized Service AssociationsThe Finance & Planning (FW.OP-I, Pen-II) Department
Copy to:
The Director of Printing, Stationery and Stores Purchase Department for Publication in the A.P. GazetteThe Secretary to Governor, Raj Bhavan, HyderabadSF/SC.
3

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