HIMACHAL GRAMIN BANK

LOAN ACCOUNTS1. To check whether interest rates applied in Loan account is properly filled in all typesof category. Branches may check it from the following path:Main Minu Bilingual Report Loans & Advances category Interestrate wise.2. In case it is observed that interest is being applied wrong, the account be edited andthe path would be as under :Main Minu Interest Old Rate wise Rate of Interest change (GL) OrMain Minu Account Account edit Credit Limit related Interestrate.Checking of interest should be done in the following manner :-3. Where interest applied/debited in an account is less thanRs.500.00 in a month, checking is to be done in 5% of the accounts4. Where interest applied/debited in an account is :Rs.500.00 or more but less than Rs.1,000.00 in a month, checking is to be done in10% accounts.5. Where interest applied/debited in an account is Rs.1,000.00 or more in a month,checking is to be done in all the account.In case any error is found in calculation during the checking of interest, 100% checkingshould be conducted irrespective of the amount of interest.All the incumbents incharge are, therefore, ensure strict compliance of the instructionswith regards to the levying of updating interest rates in order to avoid any revenueleakage/financial loss to the bank.ACKNOWLEDGE THE RECEIPT OF THIS CIRCULAR.GENERAL MANAGER