BBMP bank accounts to be seized!
It’s high time that Bruhat Bengaluru Mahanagara Palike (BBMP) has to clear all loan interest payments!
December 31, 2011 is the final deadline for BBMP to pay Rs 750 crore to various banks.
BBMP has around 500 bank accounts in 12 financial institutions! BBMP Commissioner M K Shankarlinge Gowda say that they have lots of new projects upcoming for the year 2012, along with this they have to re-pay loan amount within a span of three days.
If, in case BBMP fails to clear the loan amount received, the accounts are warned to be seized! Thereafter the civic body will have no sources for receiving funds and all the transactions from the banks will be barred.
Source: IBN Live
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