• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • HOME
  • DoPT
  • MACP
  • OROP
  • CSD

CENTRAL GOVERNMENT ORDERS

All about Central Government Employees Orders. Get the central govt employees latest news, DoPT Orders, 7th Pay Commission, DA Hike, latest notification for pensioners, MACP latest order, da for central government employees, and more.

  • 7th CPC
  • Railways
  • Pension
    • Retirement Age
  • Expected DA
    • Dearness Allowance
    • Dearness Relief
  • Defence
    • CGDA
  • EPFO
    • Employees News
      • KV School
      • Promotion
      • Maternity Leave
      • Reservation
      • LTC
    • ESIC
  • CGHS
  • MACP
  • Postal Dept
You are here: Home / 7CPC / Banks to launch new loan schemes to grab pay commission arrears

CENTRAL GOVERNMENT HOLIDAYS IN 2025

50% DA Order for Central Government Employees wef 1st Jan 2024 PDF
CGHS Updated Rate Card PDF Download
Latest List of KV Schools in India
7th Pay Commission Latest News 2024
MACP for the Central Government Employees

Banks to launch new loan schemes to grab pay commission arrears

August 1, 2016 by admin Leave a Comment

Banks to launch new loan schemes to grab pay commission arrears

Banks-to-launch-schemes-to-grab-arrears

New Delhi: State Bank of India, the country’s largest lender, and its rivals are set to launch programmes aimed at encouraging central government employees in line for fatter 7th pay commission arrears to borrow and spend on consumer goods, cars and homes.

The government announced its employees would get the higher salaries from August along with arrears of the first seven months under the Finance ministry Office Memorandum No.1-5/2016-IC issued on Friday. The pay commission award is due from January 1.

Punjab National is also firming up plans to tap salary increases to the tune of a total Rs 70,000 crore through this financial year thanks to the award of the Seventh Central Pay Commission.

State-owned SBI will raise the age bar on loan repayments by five years in the two schemes it’s planning. It will also offer lower interest rates and the flexibility of paying higher installments in the first few years.

“We will launch SBI Privilege to suit the needs of the borrowers who will be benefiting from the pay commission,” SBI managing director Rajnish Kumar told The Economic Times. “This new scheme will allow home loan borrowers to service loans till the age of 75 from the existing age of 70 years besides a five basis point reduction in interest rates if they repay through check-off facility (or payments deducted directly from the salary).” A basis point is 0.01 percentage point.

Another progamme, SBI Shaurya, is aimed at defence personnel, who are also in line for pay and pension increases.

“We expect that the major demand will be from personal loans and car loans,” a Bank of Baroda executive told The Economic Times. “We will be soon be coming out with interesting offers on these two product lines.”

After the sixth pay commission award in 2008, the sales of two wheelers and passenger cars rose 25%. Analysts expect a similar bump, though not as sharp, this time around.

The increase in salary this time is an average 15% compared with 40% last time. Plus, last time the arrears were for two years, resulting in a bigger surge.

Inputs with ET

Filed Under: 7CPC Tagged With: 7th CPC, 7th Pay Commission arrears, Central Government Employees, Pay Commission, SBI, Seventh Central Pay Commission

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


Latest DoPT Orders 2025


CENTRAL GOVT HOLIDAY LIST 2025

Indian Railway Holiday List 2025 PDF | Postal Holidays List 2025 India Post | Bank Holidays List 2025 India | LIC Office Holiday List 2025 PDF Download | EPFO Holiday List 2025 PDF Download | ESIC Holiday List 2025 PDF Download | CGHS Holiday Calendar List 2025 | Post Office Holidays 2025 | Railway Holidays CG Office Holidays 2025 | TN Govt Holidays 2025 | KVS Holiday List 2023-2025 PDF

Primary Sidebar

Important Central Government Employees Orders

  • MACP Scheme
  • 7th Pay Commission Revised Pay Matrix Table for Central Government Employees – Pay Matrix Level 12
  • Latest CSD Canteen Price List
  • CSD Latest Price List of Samsung Electronics items
  • Latest CSD Military Canteen Products List
  • CSD - Eligibility to buy cars
  • FAQ - Central Government Employees - CCS
  • FAQ - Indian Air Force Pensioners
  • FAQ - About NPS

Archives – CG News

7th CPC DA Arrears Ready Reckoner Tables for all Level

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-1 (GP 1800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-2 (GP 1900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-3 (GP 2000)

  • 7th CPC DA DA Arrears Ready Reckoner Tables for Level-4 (GP 2400)

  • 7th CPC DA DA Arrears Ready Reckoner Tables for Level-5 (GP 2800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-6 (GP 4200)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-7 (GP 4600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-8 (GP 4800)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-9 (GP 5400)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-10 (GP 5400)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-11 (GP 6600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-12 (GP 7600)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-13 (GP 8900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-13A (GP 8900)

  • 7th CPC DA Arrears Ready Reckoner Tables for Level-14 (GP 10000)

Pay Matrix Table for Air Force PBORs

7th Pay Commission Option Form Ready Reckoner For All Grade pay

Follow us on : facebook-central-government-news twitter-central-government-news pinterest-central-government-news

Categories

  • 6CPC (176)
  • 7CPC (2,062)
  • 8th Pay Commission (21)
  • Additional DA (5)
  • AICPIN (165)
  • Allowance (379)
  • Bonus (246)
  • BSNL (98)
  • CCS (199)
  • Central Government Jobs (180)
  • Central Govt Holiday Homes (6)
  • CGDA (124)
  • CGHS (492)
  • CPSE (74)
  • CSD (73)
  • CSS (116)
  • DA Over 50% (124)
  • Dearness Allowance (733)
  • Dearness Relief (104)
  • Defence (650)
  • Directorate of Estates (65)
  • DOPT Orders (1,537)
  • ECHS (20)
  • Employees News (2,505)
  • EPFO (227)
  • ESIC (30)
  • Expected DA (428)
  • expected da january 2020 (9)
  • Fin Min Order (5)
  • General news (2,012)
  • GFR (2)
  • GST (49)
  • Holidays (208)
  • HRA (89)
  • Income Tax (242)
  • IT Exemption (90)
  • KV School (314)
  • Latest News (1,311)
  • LDC-UDC (73)
  • Leave Rules (20)
  • Loan (16)
  • Lok Sabha Elections 2019 (15)
  • LTC (235)
  • MACP (262)
  • Maternity Leave (10)
  • NPS (126)
  • OROP (167)
  • Pension (1,349)
  • Postal Department (547)
  • Promotion (215)
  • Railways (1,668)
  • Rank Pay (57)
  • Reservation (109)
  • Retirement Age (187)
  • TDS (2)
  • Uncategorized (1)
  • Wages (1)

Recent Comments

  • JOHN M.S. on Government approves 8th pay commission for central government employees
  • Gouranga Sarkar on Extending the benefit of financial upgradation under MACPS to Railway School Teachers
  • Naresh Choudhary on Admissibility to travel by Vande Bharat Express and Humsafar Express Trains on Official Tour – DoE
  • Dr Ayyagari Prabhakara Rao on Steps to complete the pension case as prescribed in in CCS Pension Rules, 1972
  • PUSHPARAJAN N on Confederation – Request for Constitution of 8th CPC for Central Government employees and pensioners

Footer

Central Government Orders | Central Government Latest  News | Central Government Employees News | Central Government News | Central Govt Employees News | central government employees news latest update | expected pay central govt employees | latest news macp central govt employees | Central govt employees news 7th pay commission

7th CPC | CGDA | CGHS | CPSE | CSD | CSS | Dearness Allowance | Dearness Relief | Defence | DOPT Orders |
EPFO | ESIC | Expected DA | GST | Holidays | HRA | Income Tax | KVS | Leave Rules | LTC | MACP |
Maternity Leave | NPS | OROP | Pension | Postal Department | Promotion | Railways | Rank Pay | Reservation | Retirement Age

 

Latest Central Government Orders

Copyright © 2025 · Magazine Pro on Genesis Framework · WordPress · Log in