Rule 272 — GFR

Rule 272 Interest Payments. Interest on external loans shall be paid on the due date as stipulated in the loan or credit agreements against the budget provision made for this purpose. Interest payments shall be accounted for as debit under the Major Head ‘2049-Interest Payments’ for external loans in the Consolidated Fund of India. The procedure for transfer of amount shall be the same as followed in the case of repayment of loans, referred to in Rule 271 above. The interest payment shall be classified as charged expenditure.