Correspondence sent to:
Shri G.N. Vaswani
Deputy Educational Adviser (T)
Ministry of Education
Government of India
New Delhi
Correspondence sent from:
M. Krishnaswamy
Administrator
Indian Institute of Management Calcutta
56A, B.T. Road
Calcutta-50
Topic:
Request for Expansion of Recoverable Advances Fund
Description:
Requests government approval to double the Institute's Recoverable Advances Fund from ₹5,000 to ₹10,000 to meet growing staff financial needs. Details the fund's purpose (established 1964-65) for providing interest-free short-term loans (4-6 month repayment) for medical, educational, and ceremonial expenses. Explains increased demand due to West Bengal's economic conditions and proposes funding either through budget reallocation or special sanction. Includes attached rules approved by Board of Governors (8th Meeting, 8 December 1964).
Fund Rules Summary:
• Eligible Expenses: Medical, ceremonies, festivals, education, urgent domestic needs
• Loan Limit: 1 month's basic salary
• Repayment: 4-6 months via salary deductions
• Interest: None charged
• Approval Authority: Director/Administrator
• Original Amount: ₹3,000 (1964), increased to ₹5,000 (1965)
1967-11-14
IIM Calcutta