Karnataka Govt Suspends All Transactions With SBI and PNB With Immediate Effect Amid Funds Misuse Allegations

The Karnataka government has suspended all transactions with the State Bank of India (SBI) and Punjab National Bank (PNB) amid allegations of fund misuse. Approved by Chief Minister Siddaramaiah and issued by the Finance Secretary, the order directs all state departments to close their accounts with these banks and recover their deposits immediately. The directive also applies to public enterprises, corporations, local bodies, universities, and other institutions, prohibiting further deposits into these banks. This decision follows unresolved allegations of misuse of government funds deposited in SBI and PNB, despite prior warnings and communications to the banks. Karnataka Government Proposes To Impose 2% Cess on Movie Tickets, OTT Subscription Fees To Support Film and Cultural Workers.

Karnataka Govt Suspends Transactions With SBI and PNB

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