Govt directs depts to maintain FDs with nationalised banks

NT NETWORK

Panaji

The state government has directed all its departments and autonomous bodies to maintain fixed deposit (FD) accounts with nationalised banks only.

A circular issued by the finance department states that the government, after reviewing guidelines of effective management of public sector enterprises and other autonomous bodies, has decided that earlier circulars shall be withdrawn with immediate effect.

“Further, to safeguard the government funds, it is decided that all fixed deposits of the government departments, corporations, autonomous bodies and societies substantially owned or funded by the government should maintain the fixed deposit accounts, if any, with nationalised banks only,” a circular states.

The government further directed its departments and autonomous bodies that the current fixed deposits, if any, with any private sector bank or co-operative sector bank shall be shifted to the nationalised banks after their maturity.