Karnataka Government close accounts with SBI and PNB

Business

Karnataka Government Directs Withdrawal of State Funds from SBI, PNB

In an unprecedented move, the Karnataka government has issued a directive to all its entities to cease operations with the State Bank of India (SBI) and Punjab National Bank (PNB). This sweeping order affects departments, boards, corporations, public sector units, and universities across the state. The decision stems from unresolved disputes involving substantial deposits made by two state bodies. The…