JAMMU, Mar 2: In a decisive move to enforce financial discipline and ensure strict compliance with existing norms, the Finance Department, Government of Jammu and Kashmir has directed that all Government Departments, Public Sector Undertakings (PSUs), Boards, Corporations and Autonomous Bodies open and operate their official accounts exclusively in Jammu and Kashmir Bank.
The directive was issued through an official circular from the Civil Secretariat, reiterating earlier instructions dated January 23, 2020, which mandated that all government accounts be maintained only with J&K Bank.
The Finance Department noted with concern that despite clear standing instructions, certain government accounts had reportedly been opened in banks other than J&K Bank in deviation of prescribed norms.
Reaffirming its position, the department has categorically stated that no Government Department, Drawing and Disbursing Officer (DDO), Autonomous Body, Corporation, Board, or Government Institution shall open or operate any official account in any bank other than J&K Bank.
Further, all existing government accounts, if any, opened in banks other than J&K Bank are to be reviewed immediately. Authorities have been directed to take necessary steps to close such accounts and transfer the balances to J&K Bank without delay.
The circular also makes it clear that any deviation from the above directions will be viewed seriously and responsibility shall be fixed accordingly.
The order has been issued under the authority of Financial Commissioner (Additional Chief Secretary) Finance, Shailendra Kumar (IAS), underscoring the government’s resolve to streamline financial operations and reinforce accountability mechanisms across departments.
The move is being seen as a strong administrative step aimed at ensuring uniformity, transparency and better financial oversight within the Union Territory’s governance framework.(KNC)
