The State government has asked all departments to furnish the details of deposits they are holding in different banks.
In a note circulated to the departments, the government has asked the administrative departments of the Secretariat to instruct their heads of departments/unit offices/corporations/societies/institutions under their purview to furnish the details of the deposits with them. The departments had been asked to specify details relating to the type of deposits savings, current or fixed available with them.
The departments had been asked to submit the details by Tuesday evening, according to the note circulated. Senior officials said that the exercise was aimed at ascertaining the quantum of funds available with the departments in the backdrop of the impact of the lockdown imposed due to coronavirus (COVID-19) across the State.
The development assumes significance as the departments are authorised to ensure that their deposits, including those relating to the scheme funds, are maintained in the PD accounts which would be operated by designated administrators with the permission of the Treasury. Some of the departments are learnt to have preferred depositing these amounts in fixed deposits in spite of standing instructions issued from time-to-time and the provisions prescribed under the State Finance Code.
“There are standing instructions against depositing the scheme funds in fixed deposits as they should be operated through the PD accounts. But some of the State-owned corporations and training institutions prefer depositing these amounts in fixed deposits as it yields interests,” the official said.
The quantum of funds available with the government will not be known until the details of these deposits are ascertained.
