Odisha hikes house building advance for Govt Employees

Bhubaneswar: The Odisha government i n c r e a s e d h o u s e building assistance a m o u n t f o r i t s employees from the Odisha hikes house building advance for Govt Employees existing Rs 25 lakh to Rs40 lakh. This has been done on the basis of the recommendation o f t h e S e v e n t h P a y Commission, said an official press release issued by the Chief Minister’s Office (CMO) today.\ The interest rate has been also reduced to 8 per cent. This loan will be disbursed to employees in two phases on a 60-40 ratio. Earlier, as per house building assistance rules 2010, loan up to Rs 25 lakh was being given and the highest interest rate was 11.5 per cent. N o w , a p a r t f r o m increasing the house building assistance to Rs 40 lakh, the interest rate has been reduced to 8 per cent. All employees under the National Pension Scheme a n d a l l p e rma n e n t government employees will be eligible for the assistance

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