KSB reimburses interest by way of subsidy on loan from banks for construction of house to War Bereaved, War Disabled and Attributable Peace time casualties. This scheme was started before 1991 with upper limit of Rs 70,000/- for eligibility of the grant of interest subsidy, even though the loan taken might be of a higher amount. 50% of the interest charged by the banks or Govt/Public Sector including LIC,GIC and HUDCO would be reimbursable as interest subsidy. This was revised in May 1991 with the upper limit of Rs 1,00,000/-.
The aim of this grant is to provide a small measure of relief to war bereaved, war disabled and attributable peace time casualties(all ranks).
Reimbursement of interest on loan taken from banks for construction of house to War Bereaved, War Disabled and Attributable Peace time casualties is provided out of AFFD Fund. The upper existing limit of Rs 1,00,000/- for eligibility of the interest subsidy, even though the loan taken may be of a higher amount . 50% of the interest charged by the banks or Govt/Public Sector including LIC, GIC and HUDCO would be reimbursable as interest subsidy.
The following criteria must be fulfilled:-
Application should be made with recommendation of the concerned Zilla Sainik Board with the following information/documents:-
On receipt at KSB Sectt, the Account Section-in-Charge will assign the application to a designated clerk who will enter desired data from the applications in to computer. Another clerk will be designated to check correctness of the entries. The Section-in-Charge will verify the same and put up the case in relevant file for processing to JD(Account) who will obtain approval of Secretary, KSB.
After approval of Secretary, KSB, the application will be processed for payment by the Account Section. After verifying the ESM's service number, name, banker's IFS Code and bank account number, etc, the Account Section will issue payment instructions to the Accounts Section for payment to concerned ESM via ECS for procurement of toolkit.