Odisha Govt Asks All Departments, PSUs, Autonomous Bodies to Take Caution against Depositing Money in Banks

Bhubaneswar: In a significant development, the Finance Department has cautioned all departments, PSUs autonomous bodies while depositing government funds in any bank including State runs banks, private banks, and co-operative banks.

Recently, in a letter to all the departments Principal Secretary of Finance Department AK Meena said that the departments, PSUs or State agencies have to be very careful while keeping deposits in any bank and proper enquiry must be done about the financial health of the concerned bank for making any deposit.

“It shall be the personal responsibility of the concerned authority for such deposit,” the letter stated.

The Secretary further asked the departments to utilize the government funds directly from treasury through Integrated Financial Management System (IFMS) instead of parking the amount in any bank account.

The letter also mentioned that withdrawal of money from treasury without sufficient grounds and depositing the same in bank account shall be construed as a financial irregularity.