Principal Secretary clarifies on fund withdrawal
Source: Hueiyen News Service
Imphal, May 30 2013:
Reacting to the news items published in some local newspapers regarding alleged unauthorized withdrawal of Rs.1.41 crore from the accounts of National School Safety Programme (NSSP) and Disaster Management Institute (DMI) under Relief & DM Department during May 3 and May 15 this year, Principal Secretary Dr Suhel Akhtar has clarified that no cheques were issued by the authorities concerned after May 2, 2013 .
The actual withdrawal of funds from the NSSP from May 3 to May 15, 2013 for the already issued cheques was Rs.18,86,700 and according to the bank statement provided by SBI the balance as on May 15, 2013 was Rs.1,02,88,885 .
The misunderstanding has arisen due to some confusion in reading of the bank statement.
The account of NSSP and DMI is having the auto sweep facility, where funds are automatically transferred to a form of temporary fixed deposit called MOD, linked to the main account.
The actual total balance including the MOD is reflected on the Head of the bank statement and not in the end.
At the end of the statement only non-MOD balance is shown only as Rs.50,885 on May 15 .
The news was probably based on this misunderstanding that more than Rs.1 crore has been drawn from the account of NSSP and DMI, the Principal Secretary maintained.