Loan Account – Procedure:

I  Maintenance of detailed account:-

On receipt of the sanction order the same is captured in the system generating the index number.  On receipt of Payment Voucher it will be posted against the generated index number.  Subsequently the recoveries will also be captured to the same number. At the end of the financial year Communication of Outstanding Balances will be hosted in the DTA website.  The same is to be confirmed by the DDOs and the loanees.

II  Procedure for issuance of Clearance Certificate:

            After the completion of recovery of principal amount along with the interest, the DDO should forward proposals for Clearance Certificate duly enclosing the following information.

  1. Loan drawal particulars viz., amount and date of drawal of each installment along with copies of proceedings for calculation of interest by this office.
  2. Bill-wise recovery particulars of Principal amount viz., Service Major Head, Head of Account under which classified, token/challan no., date, place of recovery etc. duly attested by the DDO.
  3. Particulars of interest duly certified by the DDO.
  4. The Certificate of Fulfillment of Formalities regarding Mortgage, Insurance etc., Under the Seal and Signature of the Loan Sanctioning Authority.
  5. In case of recovery of Balance Principal/Interest from DCRG, a certificate to that extent is to be furnished by the DTO/PPO.
  6. A copy showing Budget Provision in cases of write-off along with write-off proceedings.