Pradhan Mantri Gram Sadak Yojana — Programme Guidelines

cash book.
(Inserted vide MoRD letter No. P-12025/8/2001-RC dated 14th October, 2009)
18.5 A tripartite Memorandum of Understanding will be entered into between
the Bank, SRRDA and the NRRDA wherein the parties would agree to abide by
the provisions of the Guidelines. In particular, the Bank will agree to abide by
the instructions issued, from time to time, by the Ministry of Rural Development /
National Rural Roads Development Agency (NRRDA) regarding the operation of
the Accounts.
18.6 The Ministry of Rural Development / NRRDA may, from time to time, issue
such directives as necessary for smooth flow of funds and effectiveness of the
Programme.
18.7 The Accounting System, to be prescribed by the NRRDA, would be based
on the well-established Public Works Accounting system, with its own Chart of
Accounts and Balance Sheet. The OMMAS software would support the Accounting
System and would be enabled so that PIUs, SRRDAs and Bank branch concerned
can make data entry on line for their respective transaction.
18.8 Money accruing as Interest credited in the Programme Fund Account will be
credited to the same account. The expenditure out of this interest amount will be
guided by the instructions / guidelines to be issued by the Ministry of Rural
Development / NRRDA from time to time. The Bank shall intimate to the State level
Agency the interest amount credited by it to the Account on quarterly basis
19. PROCEDURE FOR RELEASE OF FUNDS TO THE STATE LEVEL
AGENCY
19.1 The PMGSY has adopted a project approach where road works have to be
completed within a stipulated time. The funds for the cleared projects will be made
available to the SRRDA in two installments. The first instalment amounting to 50%
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Pradhan Mantri Gram Sadak Yojana