Kathmandu. The Citizens Investment Trust (CIT) has brought more flexibility for the employees participating in the program.
The CIT has made some important amendments to the ‘Employee Savings Increment Retirement Fund Operation Procedure-2080’. As per the amended provision, the participating employees of CIT Employees Savings Increment Retirement Fund will be eligible for the loan facility after 6 months of joining the program. This means that after the completion of 6 months, you will be able to use the credit facility. Earlier, such a facility should have been completed for 1 year.
Similarly, through the amendment of the working procedure, the CIT has also increased the limit of loan flow to 4 times in a fiscal year. Earlier, the loan facility could be availed only 2 times in a fiscal year.
The CIT can close the account if any participating employee stops depositing money in this program, if it has been 7 years since he has stopped depositing the money or if the amount deposited in his name is not cleared. Previously, this period was 10 years.
The CIT has also urged the employees and service recipients under their respective branches to implement the amended work procedure in an effective manner.
