Odisha govt backtracks from warning against bank deposits after RBI raises flag
By India Today 12-Nov-2019
- The Odisha government has issued a clarification after Reserve Bank of India (RBI) expressed concerns over the Naveen Patnaik-led administration's directives to its departments against making deposits with banks.
- It is to be clarified that the state government does not have any view on the fiscal health of any particular bank.
- The Odisha government also clarified that the earlier circular issued on October 21 was only meant to avoid opening of new accounts.
- The letter had then asked the departments to utilise the government funds directly from treasury through Integrated Financial Management System.
- The letter also mentioned that withdrawal of money from treasury without sufficient grounds and depositing the same in bank account .
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