Excelsior Correspondent
JAMMU, Mar 2: In a firm step aimed at enforcing financial discipline and ensuring strict adherence to established norms, the Finance Department Jammu and Kashmir Government has directed all Government Departments, Public Sector Undertakings (PSUs), Boards, Corporations and Autonomous Bodies to open and operate their official bank accounts exclusively in J&K Bank.
The instructions have been conveyed through an official circular issued from the Civil Secretariat, which reiterates earlier directions circulated on January 23, 2020, making it mandatory for all Government accounts to be maintained solely with J&K Bank. The Department has expressed serious concern over reports that some Government offices and institutions had opened accounts in other banks in violation of the prescribed guidelines.
Reaffirming the Government’s position in unequivocal terms, the Finance Department has stated that no Government Department, Drawing and Disbursing Officer (DDO), Autonomous Body, Corporation, Board or any Government institution shall open or operate an official account in any bank other than J&K Bank under any circumstances.
The circular further directs that all such accounts, if already opened in other banks, must be reviewed immediately. The concerned authorities have been asked to initiate time-bound action for their closure and to transfer the available balances to J&K Bank without any delay to ensure full compliance with the standing instructions.
Emphasizing accountability, the Finance Department has warned that any deviation from these orders will be viewed seriously and responsibility will be fixed against the defaulting officers or institutions. The move is being seen as part of a broader effort to streamline financial management, strengthen monitoring of Government funds and ensure uniform implementation of banking arrangements across all departments and allied bodies in the Union Territory.
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