Lakhimpur Kheri, November 6: The District Magistrate (DM) Durga Shakti Nagpal has taken administrative action against ICICI Bank on Thursday. The bank’s sluggishness and gross negligence regarding the target in CM Yuva Udyami Yojana proved very costly.
The DM, adopting a stern attitude, clearly ordered that all the accounts of municipal bodies should be transferred to another bank with immediate effect.
According to the information, in the first and second installments of basic and specified grants under the financial year 2024-25, an amount of โน32.63 crore, while in the year 2023-24, an amount of โน10.32 crore is deposited in the accounts of municipal bodies. This means that a total of over โน42 crore will now be transferred out of ICICI Bank on the DM’s instructions.
The DM has strictly instructed the concerned officials to take immediate action and submit a prompt compliance report.
It’s worth noting that ICICI Bank had a target of providing financial assistance to 43 beneficiaries under the campaign, but to date, no progress has been made. Despite numerous meetings with branch managers, the bank has not taken any concrete steps. When the matter came to the DM’s attention during a review, she took immediate action and issued a show-cause notice.
Meanwhile, unable to receive a satisfactory response, the DM has ordered the account to be transferred to another bank. Notices are also being issued to HDFC Bank and Axis Bank for failing to meet the expected target in implementing the CM Yuva Udyami Yojana.
The DM has directed them to monitor the performance of both banks.
This order has caused a stir in the banking sector and administrative circles. It is believed that this move is not just for ICICI Bank, but a stern warning to all banks and departments: if you show any sluggishness in your work, be prepared to face the consequences!