10.9.8 — CAM

10.9.8: In accordance with Rule 230(8) of GFR,2017 all interests or other earnings against Grants in aid or advances (other than reimbursement) released to any Grantee institution should be mandatorily remitted to the CFI, immediately after finalisation of the accounts. Such advances should not be allowed to be adjusted against future releases. The minor head “Interest or other earnings from Grantee on unspent balances” (code “801”) may be opened wherever necessary under the functional major/sub-major heads in the Section Receipt Heads (Revenue Account) for classification of interest or other earnings received from Grantee or refund of unspent balances of Grants-in-Aid. The nature of the receipts i.e. Interest or other earnings may be classified at subhead level. (Authority: Correction Slip No.931 of LMMHA).