RBI bans withdrawal of fund from the Manipur government’s account

Pothashang News Service: Imphal, June 12, 2019:  The Reserve Bank of India (RBI) has banned withdrawal of fund from the Manipur government’s account from today.

RBI assistant general manager Anita Kumari, in a letter to chairman of State Bank of India on Tuesday, instructed to cease payments of Manipur government.

The letter stated that the government account has been overdrawn in excess of the arrangements agreed upon with RBI.

It advised the SBI chairman to instruct its offices and branches, which are transacting government business for Government of Manipur to take necessary action for stopping payments.