PNB Committed For Amicable Resolution with Government of Karnataka, Discussions On
On 12.08.2024 , Government of Karnataka issued orders to close accounts of all state government department and other Institutions with SBI and PNB
Statement issued by Punjab National Bank says ” This is with reference to a circular issued by Government of Karnataka Secretariat on 12.08.2024 regarding closing the accounts of the state Govt. Department and other Institutions with SBI and PNB. As the matter is currently Sub-Judice, it will not be prudent to make any specific comment. However, the Bank is committed for amicable resolution of the matter and is in discussion with Government of Karnataka”.
Backgrounder :
The issue flared up as the Finance department of the state issued a circular to all department heads, highlighting that the Karnataka Industrial Areas Development Board (KIADB) was unable to recover a deposit from Punjab National Bank (PNB), while the Pollution Control Board faced a similar issue with the State Bank of India (SBI).
