Reportedly in April 2023, Goa’s education department had sent a circular informing teachers and educational institutions to open their salary accounts in a particular private bank. Due to objections from the opposition parties and the teachers, the move was dropped. Now again a similar circular has been sent on the same axial topic and obviously there is an opposition against the suggestion.
Apparently, as per Rule 62 of the education rules, teachers’ salaries are to be deposited in a nationalised bank. When this is the case, how can the teachers be compelled to open an account in a private bank and what would be the benefits, if any? If the salaries are deposited in nationalised banks, it would boost the funds in the Reserve Bank of India (RBI) and at the end of the financial year the RBI would be able to transfer more funds to the Centre’s kitty.
