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G.O.Ms.No.3,Dated:26- 01-2018 - GIS Revised Rate of Interest from 01-07-2017 to 31-12-2017

FINANCE (ADMN-III) DEPARTMENT
G.O.Ms.No.3,Dated:26- 01-2018 - GIS Revised Rate of Interest from 01-07-2017 to 31-12-2017
                                                               
ORDER:

        In the reference 1st read above, revised rates of Interest for 3rd & 4th Quarters of the calendar year 2017 i.e. 01-07-2017 to 31-12-2017 on the Andhra Pradesh Group Insurance Savings Funds have been issued.’

2.     In the reference 2nd read above, the Director of Insurance while enclosing the revised tables of the Group Insurance Scheme @ 7.8% for third & fourth Quarters of the Calendar Year 2017 has requested to approve the same and issue instructions that has to be followed scrupulously as detailed below:

The Sanctioning Authorities / Drawing and Disbursing Officers / Treasury Officers / District Audit Officers / Pay and Accounts Officers / Director of Works Accounts are requested to keep in view of the appended Table  while sanctioning and making the final payments under Group Insurance Scheme for proper implementation of the scheme.

The Head of the Department / Drawing and Disbursing Officer shall be held responsible for sanctioning the Group Insurance Scheme final payments. If any excess payments are found, the difference amount shall be collected from the sanctioning authority and such Officers are liable for disciplinary action.

The Drawing and Disbursing Officer shall recover the correct rate of subscription according to the eligible group of the employees. For any excess / less recovery, the Drawing and Disbursing Officer concerned shall be held responsible.
                                            
The Head of the Department concerned shall take action against the erring officials who are responsible for the excess / less recoveries wherever they are detected.

Click below link to download Complete G.O & GIS Tables


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