Para 8.15.5 — CAM

8.15.5 The Principal Accounts Offices/PAO Secretariat of the Ministry/Department are responsible for maintenance of detailed accounts of the loans sanctioned by the Central Government to the State Governments and watching the recovery of instalments of principal and interest.

(vi) Though the State AG will be initiating action as above for repayment of loans and advances and payment of interest, the Principal Accounts Office of respective lending Ministries/Departments, will be responsible for maintaining necessary loan ledgers and ensuring that the central loans and advances to the states are repaid in the manner prescribed on due dates and payment of instalments of interest are also made correctly and on due dates. The detailed accounts of the loans will be kept by the Principal Accounts Offices as required in para 8.15.5 of this chapter. Cases of default or delay in repayment of loans or payment of interest should be promptly taken up with the Governments concerned. The position should also be reported to the CGA, Ministry of Finance in such form and at such intervals as may be prescribed by him.