Circle Welfare Fund for GDS

Circle Welfare Fund for GDS

As per the Department of Posts' letter (No. 20-09/2019-WL & Sports dated 11.09.2024), the Circle Welfare Fund for GDS consists of three components:

1. Financial Grant: A one-time financial assistance provided to GDS officials.

2. Financial Assistance - Loan: A loan at a 5% interest rate, which is refundable and recoverable. The loan is repayable in one installment at the time of retirement.

3. Surety Requirement: Two GDS officials are required to stand as sureties for the loan. Priority is given to GDS officials who have not availed any loan previously.

Loan Sanctioning and Repayment

• Loan will not be sanctioned to GDS officials who are under put-off duty or have failed to repay previous loans.
• In case of resignation, retirement, or death, any outstanding loan amount will be recovered from the GDS officials who stood as sureties.
• During the period of Leave Without Allowance (LWA), no TRCA will be paid to the GDS officials, and they will be required to deposit the loan repayment amount every month.
• The Divisional head will maintain a loan disbursement register to track loan sanctions and repayments.