The State government has initiated steps to streamline the operation of savings, current and fixed deposit accounts by the government and government undertaking departments.
Accordingly, the officials concerned are directed to furnish information/details pertaining to the existing bank accounts and fixed deposits in the Finance Department’s web portal https://ifmis.telangana.gov.in/bankaccounts in a prescribed proforma and the details should be updated on monthly basis, on the 10th of every month.
The new guidelines have been issued in view of the incidents involving fraudulent withdrawal of deposits made by government and government undertaking departments/institutions. There were also instances of certain departments opening savings/current and fixed deposit accounts for the government’s money in various banks without obtaining prior permission in violation of the existing rules.
Senior Finance Department officials said the fresh guidelines are aimed at avoiding scope for incidents like withdrawal of Telugu Akademi funds fraudulently.
Union Bank of India former chief manager S.K. Mastan Vali and 21 others were arrested for fabricating and forging Telugu Akademi’s cover letters for fraudulent use in fixed deposits. Over ₹65 crore had been misappropriated from two branches of the UBI and one branch of Canara Bank between January and September last year.
A similar incident was reported in the erstwhile united State when the funds of the Minorities Finance Corporation were withdrawn fraudulently. The case involved withdrawal of ₹55.47 crore from the three branches of Vijaya Bank opening fake accounts in the name of the accounts manager concerned.
“The orders have been issued to avoid Telugu Akademi type situations,” a senior official said. The departments are directed to verify whether all the existing accounts were opened by obtaining prior permission and review the need for continuing the existing accounts. Steps should be taken to close unnecessary and unwanted bank accounts immediately, if felt appropriate and a report about the action taken should be sent before March 10.
The departments were instructed to verify the existing FDs kept at various banks, duly reconcile with and obtain certification from bankers “instead of merely verifying the balance statements and to take immediate necessary action for transfer of all such FDs lying at various banks into one single bank, which was an approved empanelled bank of the State Government without losing the interest portion. In the event if pre-closure of FDs was not permissible, constant and close watch should be maintained by the concerned finance officers on the FD transactions.
All the FD transactions forthwith should be done through electronic mode and transferred to the savings/current account of the concerned department. “Under no circumstances, cash transfers are permitted.” In addition, all the government accounts should be linked with e-mail and mobile number of the concerned drawing and disbursing/accounts/ finance officers for transactions alert. “Under no circumstances, the government funds should be allowed to be parked in fixed deposits unless categorically permitted by the Finance Department with a specific order,” according to the new guidelines.
All the FD transactions forthwith should be done through electronic mode and transferred to the savings/current account of the concerned department. “Under no circumstances, cash transfers are permitted.” In addition, all the government accounts should be linked with e-mail and mobile number of the concerned drawing and disbursing/accounts/ finance officers for transactions alert. “Under no circumstances, the government funds should be allowed to be parked in fixed deposits unless categorically permitted by the Finance Department with a specific order,” according to the new guidelines.
