Srinagar, Mar 2: In a decisive move to enforce financial discipline and ensure strict compliance with established norms, the Finance Department of the Government of Jammu and Kashmir has directed all Government Departments, Public Sector Undertakings (PSUs), Boards, Corporations and Autonomous Bodies to open and operate their official accounts exclusively with 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 solely with J&K Bank.
The Finance Department expressed 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 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.
The circular further directed that all existing government accounts, if any, opened in banks other than J&K Bank must be reviewed immediately. Authorities concerned have been instructed to initiate necessary steps to close such accounts and transfer the balances to J&K Bank without delay.
It also warned that any deviation from these directions will be viewed seriously and responsibility will 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 strengthen accountability mechanisms across departments.
