Karnataka govt puts circular prohibiting all dealings with SBI, PNB on hold for 15 days
Bengaluru, Aug 16: The Karnataka government on Friday kept its circular in abeyance for 15 days, which prohibited all business transactions with the State Bank of India (SBI) and the Punjab National Bank (PNB).
The decision came after Chief Minister Siddaramaiah considered the two banks’ requests.
A government circular issued on August 12 ordered all its departments, boards, corporations, public sector units and universities to withdraw all their deposits and investments in the SBI and the PNB and stop transacting any business with these institutions.
"After considering the banks' requests, the Honorable Chief Minister has directed officials of the Finance Department to keep the circular in abeyance for 15 days," the state government said in a release.
ALSO READ: Siddaramaiah requests Foxconn to further invest in Karnataka, assures gov't complete support
It said that putting the previous circular on hold "will allow the banks sufficient time to address the issues and redress the concerns of the government."
The government is committed to ensuring transparency and accountability in all its dealings, said the statement.
"We will continue to monitor the situation and take appropriate action to protect the interests of all stakeholders," it added.
Explaining the circumstances, the state government said that based on the observations made by the Public Accounts Committee on July 2 and August 6 and the audit findings included in the Comptroller and Auditor General's report, the government has taken a decision to issue the circular on August 12, directing all departments to withdraw their deposits and restrict further deposits in all branches of SBI and PNB.
This action was taken in response to the alleged fraud in the bank branches, which resulted in the non-repayment of fixed deposits made by the Karnataka State Pollution Control Board (KSPCB) and the Karnataka Industrial Area Development Board (KIADB), the statement said.
Despite prolonged correspondence and meetings, these issues remained unresolved since 2012-13, the government said. It added that on August 16 both banks submitted written representations to the government, requesting a 15-day period to resolve the matter.
The same day, senior bank officials met with higher officials of the Finance Department and reiterated their request.
According to the previous circular, Rs 12 crore belonging to the KIADB and Rs 10 crore of the KSPCB were blocked by PNB and SBI respectively for many years owing to scams in these two banks.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Allen, Raghuvanshi, Green power KKR to 29-run win over GT
Kolkata (PTI): Finn Allen blasted a 35-ball 93, while Angkrish Raghuvanshi hit an unbeaten 44-ball 82 as Kolkata Knight Riders kept their playoff hopes alive with a 29-run win over Gujarat Titans in the IPL match here on Saturday.
Sent in to bat, Allen went on a six-hitting spree, smashing 10 maximums and four boundaries to add 95 off 41 balls with Raghuvanshi (82).
Raghuvanshi then shared another 108 off 53 balls with Cameron Green (52 not out) to power KKR to a challenging 247 for 2.
In reply, GT could manage 218-4, riding on skipper Shubman Gill's 49-ball 85 and a 35-ball 57 from Jos Buttler. Opener Sai Sudarsan was retired hurt but returned to make a 28-ball 53 not out.
Sunil Narine (2/29) claimed two wickets and Saurabh Dubey snapped one for KKR.
For GT, Mohammed Siraj (1/50), Sai Kishore (1/38) were the wicket-takers.
Brief Score:
KKR: 247 for 2 in 20 overs (Finn Allen 93, Angkrish Raghuvanshi 82 not out, Camero Green 52 not out; Mohammed Siraj 1/50).
GT: 218 for 4 in 20 overs (Shubman Gill 85, Sunil Narine 2/29).
