Source: The Sangai Express
Imphal, October 20:
The Reserve Bank of India (RBI) has lifted the ban on encashment of bills after the State has cleared its overdraft.
However, payment of salaries and pensions still remain uncertain as the state finance department has not lifted its ban.
Special secretary Finance RK Nimai said that the overdraft was cleared on October 18.He however denied knowledge from which head the overdraft amount was adjusted.
He said that the Finance Department ban is likely to be lifted in the first week of November as there would be fund crunch if the ban is lifted and salaries and pensions paid now.
However, there is no final decision at the moment, he added.
Nimai also said that the ban on encashment will include treasuries in Ukhrul, Tamenglong and Jiribam.
On the other hand, Chief Secretary Rakesh informed that the withdrawal of pay bills and other sums could be done if the treasuries have passed them.
He also assured that the allowances of the employees will also be paid once the financial health of the state improves.