Excelsior Correspondent
JAMMU, Dec 9: Government today directed Jammu and Kashmir Bank Ltd and other nationalized/scheduled banks not to open new account in favour of any department of the State without the concurrence of the Finance Department.
An order regarding rationalization of bank accounts has been issued by Navin K Choudhary, Commissioner/ Secretary to Government, Finance Department.
“All Government bank accounts which have nil balance as on date and are inoperative for more than two years are closed with immediate effect”, the order said, adding “all Government bank accounts of Drawing and Disbursing Officers which remained inoperative for more than two years and have positive cash balance, shall be closed and money shall be transferred to the Finance Secretary’s official account”.
Cash balance of all Government accounts which have remained inoperative for more than one year shall be transferred to Finance Secretary’s official account. However, these accounts shall not be closed. This order shall not apply to the bank accounts operated by School Education Department and Panchayats.
“The Jammu and Kashmir Bank shall initiate required action in time bound manner and no new Government bank account shall be opened by the J&K Bank Limited or any other nationalized/scheduled bank in favour of any department of the State Government without the concurrence of the Finance Department”, the order said.
The Drawing and Disbursing Officers and the J&K Bank Limited shall ensure that no banking transaction in all such accounts which have remained inoperative for more than one year is allowed.
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