Kerala’s Finance department has directed public sector units (PSU) and other State-controlled agencies to park their funds in the State treasury rather than banks if the former is offering a higher rate of interest.
In a December 1, 2023 circular, Rabindra Kumar Agarwal, Principal Secretary (Finance), directed all PSUs, autonomous bodies, State-owned or sponsored agencies to create fixed deposits in the State Treasury using their own funds/profits if the rate of interest there is higher than the “other available options.”
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