Keep own funds in STSB accounts, local bodies told
The Hindu
No hindrance to withdrawal of funds from the account
The State government wants local bodies to park their own funds in Special Treasury Savings Bank (STSB) accounts rather than in banks.
The Finance Department, in a September 18 circular, has directed local self-governments to park the funds in STSB accounts, revising an earlier decision of the Local Self Government Department allowing them to keep the money in the banks.
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