look news india
Karnataka News: The Siddaramaiah government of Karnataka state has taken a big decision regarding the two biggest government banks of the country. The Karnataka government has ordered all its government departments to stop all their transactions from the accounts of Punjab National Bank (PNB) and State Bank of India (SBI). After this decision of the government, all government departments will have to withdraw the money deposited in PNB and RBI. All types of deposits and FDs will have to be withdrawn and their accounts will have to be closed.
Order given by Karnataka Government
This order of the Karnataka government has been given by the Secretary of the State Finance Department, Jaffer. According to the order, do not keep your money in both SBI and PNB banks and do not do any kind of transaction with both the banks. The state government has proposed to take back all the money kept in SBI and Punjab National Bank due to two cases of fraud by not returning the FD. The Finance Department on behalf of the government has issued a circular to all the departments saying that in future do not keep any kind of deposit in these two banks.
Why did the government take this step?
The government has taken this decision in view of the recent Valmiki Vikas Nigam scam and the PAC's recommendation regarding two separate cases of 2011 and 2013. As per the instructions of CM Siddaramaiah, Finance Department (Budget and Resources) Secretary Dr. PC Jaffer has issued an order asking to close all FD accounts kept in these banks by September 9.
