Team Herald
PANJIM: The State government has withdrawn the house building advance rules and scheme extended to its employees with effect from May 15.
If you enjoyed reading this article, you can help support our journalism by adding OHeraldo as a preferred source.
A notification by Under Secretary – Budget – II, Maya Pednekar says, “The government has decided to withdraw / close the House Building Advance Rules extended to its employees under order dated 12/12/1988 and with effect from May 15, 2020.”
As per the scheme, an employee had to pay two per cent interest on the loans taken for house building while the remaining five per cent interest on the loan was paid by the government. The development comes three months after the under secretary, finance (budget) had 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.
