Manipur in financial crisis faces overdraft of over Rs 274 crore
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Manipur in financial crisis faces overdraft of over Rs 274 crore

By Indian Express calender  13-Jun-2019

Manipur in financial crisis faces overdraft of over Rs 274 crore

The Reserve Bank of India has banned all transaction of funds from the account of Manipur Government with effect from June for having overdrawn in excess of arrangements agreed upon with the bank.
On Tuesday, Anita Kumari, Assistant General Manager of RBI, in a statement to the Chairman, State Bank of India (SBI) has asked to stop payment to the Government of Manipur with effect from June 12 and conveyed the same to its branches engaging in a financial transaction with the state (Manipur).
“The account of the government has been overdrawn in excess of the arrangement agreed upon with the Reserve Bank of India. It has therefore been decided as per extant procedure, to stop payments of the government of Manipur with effect from June 12.”
A government source said that the state faces overdraft of Rs 247.48 crore, exceeding 36 days in a quarter, as per the scheme of ‘Ways and Means Advances’ to the state government for the year 2010-20.

MOLITICS SURVEY

क्या कांग्रेस का महागठबंधन से अलग रह के चुनाव लड़ने की वजह से बीजेपी को पूर्ण बहुमत मिला है?

हाँ
  51.35%
नहीं
  43.24%
अनिश्चित
  5.41%

TOTAL RESPONSES : 37

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