Finance Dept directs all Govt accounts to be operated only through J&K Bank

Jammu: The Finance Department, Government of Jammu and Kashmir, has reiterated strict instructions directing all Government Departments, Public Sector Undertakings (PSUs), Autonomous Bodies, Boards, Corporations and other government institutions to open and operate official accounts exclusively with Jammu and Kashmir Bank.

In a circular issued from the Civil Secretariat, it has come to the notice of the Finance Department that despite standing instructions issued vide Circular No. DGAT/PS/DR/29 dated 23.01.2020, certain departments and officials, including Drawing and Disbursing Officers (DDOs), have opened official accounts in banks other than J&K Bank, in deviation of the prescribed guidelines.

The circular clearly states that no Government Department, DDO, Autonomous Body, Corporation, Board or any Government Institution shall open or operate any Government account in any bank other than Jammu and Kashmir Bank.

Further, all existing Government accounts, if any, currently maintained in banks other than J&K Bank, are to be reviewed immediately. Necessary steps must be taken to close such accounts and transfer the balances to Jammu and Kashmir Bank without delay.

The Finance Department has warned that any deviation from these directions will be viewed seriously and responsibility shall be fixed accordingly.The circular, issued under No. FD-Bkg/14/2025-03 dated 02.03.2026, has been signed by Shailendra Kumar, IAS, Financial Commissioner (Additional Chief Secretary), Finance Department.

Copies of the circular have been forwarded to senior constitutional authorities, administrative secretaries, heads of departments, PSUs, autonomous bodies, financial advisors, treasury officers and other concerned offices for strict compliance.