Bhubaneswar The government has issued a directive regarding deposits in certain banks. It has been observed that some banks are not cooperating in the implementation of major government schemes. They are not disbursing loans in proportion to the deposits they hold and have failed to meet the annual credit disbursement targets.
Therefore, if there are any government deposits in HDFC Bank, ICICI Bank, or Axis Bank, they must be immediately withdrawn and transferred to other government-approved banks.
The Finance Department has issued instructions to all departments to close any deposit accounts in these three banks as soon as possible and transfer the funds to listed government banks. However, the Finance Department clarified that if any government deposit is placed as a fixed deposit (FD) in these banks, it will not be withdrawn immediately. The government will wait for the tenure of the fixed deposit to end to avoid any loss of interest.
Once the maturity period is over, the deposited amount should be withdrawn and transferred to other banks as per government guidelines.
All departments are instructed to implement this directive without delay, and even the slightest negligence will not be tolerated. As soon as the directive letter is received, departments are required to begin withdrawing government deposits from the above-mentioned three banks.