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GRANT No.IX FISCAL ADMINISTRATION, PLANNING, SURVEYS AND
STATISTICS (Concld.)
90
The amount accrued in the Fund is payable to the subscribing employees on their
retirement and to the families of employees who died while in service.
The balance at the end of the year 2012-13 was `4,86,72.19 lakh. An account of the
transactions of the State Government Employees Group Insurance Scheme is given in
Statement No.18 of the Finance Accounts for 2012-13 under Major Head “8011 Insurance
and Pension Funds- MH 107- Andhra Pradesh State Government Employees Group
Insurance Scheme”.
(iii) Guarantee Redemption Fund: The Government has constituted “Guarantee
Redemption Fund” vide G.O.Ms.No.6 dated 03-01-2002(effective from 2002-03) for
discharge of guarantees invoked. An amount of `70.16 Crore (Contribution-`12.80 crore and
interest on investment- `57.36 crore) had been credited to the Fund during 2012-13. To end of
2012-13, entire balance of `7,82.91 crore at the credit of the fund was invested.