Rule 263 — GFR

Rule 263 (1) Review of Annual Statements with a view to enforce repayments of the principal and interest due. The Administrative Ministries shall keep watch over the receipt of the Annual Statements in Form GFR 20 regularly from the Accounts Officer and conduct a close review of the cases of defaults in repayment of the installments of principal and/or interest due, as revealed from these Annual Statements and take suitable measures for enforcing repayments of the principal and interest due. If these statements are not received in time, the Accounts Officer shall be reminded promptly. To facilitate a proper review of the position of outstanding loans, the Ministries may also arrange to maintain centrally a list of all sanctions issued relating to loans advanced to State Governments and other entities.

Rule 263 (2) Submission of Annual Assessment Report. A copy of Annual Assessment Report on status of all outstanding loans, including timely and accurate payment of principal and interest due, shall be submitted by the Financial Advisor of the Administrative Ministry concerned to the Ministry of Finance by 30th June of each financial year.

EXTERNALLY AIDED PROJECTS