Govt funds to be parked in nationalised banks only

Bihar government has issued an order that the funds of the central and state governments, besides whatever earned through other sources, must be parked in nationalised banks or regional rural banks in Bihar.

Updated: May 18, 2011, 19:34 PM IST

Patna: Bihar government has issued an order
that the funds of the central and state governments, besides
whatever earned through other sources, must be parked in
nationalised banks or regional rural banks in Bihar.

"The funds of the central and state governments and
whatever other amount received through other sources be parked
only in national banks or regional rural banks in Bihar",
state Finance department`s Principal Secretary Rameshwar Singh
said in a circular, the copy of which was made available to
mediamen, at the State Level Bankers` Committee (SLBC) Meet
here.
"In no circumstances, such funds be transacted through
private banks", the circular said.
The state government had also decided that the Finance
department (Institutional Finance) would circulate the list of
the banks district-wise every quarter, it would not be
appropriate to keep the funds in such banks whose performance
was found to be far from satisfactory during the review,
Singh said, adding the directive would be strictly
implemented.

PTI