Maharashtra Govt: State-Related Banking Transactions To Be Only Done Through PSBs

The Maharashtra govt issued a resolution and asked all the govt bodies, authorities and corporations to conduct all its banking transactions through public sector banks (PSBs).
The government resolution was issued by the Maharashtra finance department on March 13.
It has made it mandatory for all the government bodies to close all the banking accounts with private and cooperative banks and open accounts in public sector banks from April 1, 2020.
The resolution has also ordered to shift all the deposits made by state bodies in private banks.
It has also directed the concerned department to inform the govt pensioners to shift their pension accounts to public sector banks.