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/RFC/GAD/PG/1151

RAJASTHAN FINANCIAL CORPORATION
GAD SECTION

UDYOG BHAWAN
TILAK MARG
C SCHEME
JAIPUR-302005

Ref.No. RFC/GAD/13(19)171/����������������� Dated : 14th June 2006

CIRCULAR

�Reg. Purchase of Stores and delegation of powers for financial expenditure.

The matter regarding captioned subject was placed before the Board of Directors in its meeting held on 7.6.06.�� The Board has further modified �the existing delegation of financial powers and accordingly same have been incorporated� in the existing PG circular No.1058 dt. 29.5.2004� which forms chapter no. 5 of GAD. The modified delegation of financial powers are reproduced below:-

DELEGATION OF FINANCIAL POWERS

The delegation of powers for expenses to be incurred by the individual officers in GAD Section� shall be as under :-�

S.NO

OFFICER

Expenses at a time

Expenses per month

1

GM/DGM(GAD)

Rs. 3000

Rs. 30000

2

Manager/DM(GAD)

Rs. 500

Rs. 2000

Manager/DM(GAD) shall be authorized to make purchases upto Rs. 5000/- in a month for caretaking/cleaning material required for regular cleaning of office building.� This will be in addition to the powers indicated above.
(2)

URGENT REQUIREMENT OF STATIONERY AND OTHER ITEMS

The urgently required stationery and other items over and above the financial limit of individual officers in GAD shall be purchased by calling quotations from the reputed suppliers/dealers/firms at a time as per the following delegation :-

Chairman and Managing Director

Upto Rs. 50000/-

GM/Dy. General Manager (GAD)

Upto Rs. 10000/-

REPAIRS OF VEHICLES, OTHER MONTHLY BILLS, TAXES ETC.

The powers regarding repairs of vehicles, purchase of batteries, tyres, accessories, petrol, servicing etc shall vest in GM/DGM(GAD) however in case the expenses for repairs of vehicles exceed Rs.20000/- the same shall be considered by a committee consisting of GM/DGM(GAD), M/DM(T), M/DM(GAD).� The CMD will approve the same on the recommendations of the committee.

All payments regarding rent, electricity bill, water bill, land and building tax, municipal tax, contribution to UBCFS, telephone bills etc. shall be made at the level of GM/DGM(GAD).

The DGM�, DGM(A&I), WZ Ajmer and the Branch Offices where vehicles have been allotted shall be empowered to incur expenditure for maintenance of vehicles and running expenses of vehicles upto the extent of budget allotted by Finance Section.� Prior approval of incurring expenditure over and above the budgetary ceiling shall be essentially required before incurring the expenses for which request shall be made to GM/DGM(GAD) who will obtain necessary approval from the competent authority.

COMMITTEE(S) TO PROCESS THE EXPENSES.

I. The following committee shall process the expenses upto Rs. 50000 :-

1. GM(A/Cs) Chairman
2. GM/DGM(GAD) Member
3. DGM(P&A) Member
4 M/DM(GAD) Convener

The CMD shall approve the same on recommendation of the committee.

II.� The following committee is considered to process the expenses more than Rs. 50000/- but upto Rs. 10 lac :-

1. Financial Adviser (GM F ) Chairman
2. GM/DGM(GAD) Member
3. DGM(P&A) Member
4 M/DM(GAD) Convener

The CMD shall approve the same on the recommendations of the committee.

III. The competent authority for approving the expenses of the order more than Rs. 10 lac but upto Rs. 25 lac would be the Executive Committee of the Corporation.

IV.� The Board of the Corporation would be the competent authority for approving the expenses of more than Rs. 25 lac.

All other terms and conditions, provisions, procedures etc. shall remain same as laid down in the PG Circular no. 1058 Dt. 29th May 2004. These changes are enforced with immediate effect.

(KARNI SINGH RATHORE)
CHAIRMAN & MANAGING DIRECTOR


 

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