3 Days After Big Order On Deposits With SBI And PNB, Karnataka Hits Pause
NDTV
On Wednesday, the Karnataka government had directed all state departments to close their accounts with these banks and recover their deposits immediately.
The Karnataka government has paused its order suspending all transactions with the Central government-run State Bank of India (SBI) and Punjab National Bank (PNB) just three days after it was issued, stating that the banks have sought some time to resolve the issues. The order has been paused for 15 days.
On Wednesday, the Karnataka government had directed all state departments to close their accounts with these banks and recover their deposits immediately.
"Accounts held in the State Bank of India and Punjab National Bank by state government departments, public enterprises, corporations, local bodies, universities, and other institutions must be terminated forthwith. Additionally, no further deposits or investments are to be made in these banks," the order had said.
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