Chandigarh, March 2, 2026(Yes Punjab News)
Punjab Finance Minister Harpal Singh Cheema, reacting to the bank scam of more than ₹550 crore in the neighbouring state of Haryana during the rule of the Bharatiya Janata Party government, said that in Punjab, after the Aam Aadmi Party government assumed power in 2022, a modern e-Deposit Management System was implemented with the assistance of National Informatics Centre (NIC), eliminating any possibility of fraud in the banking sector. He stated that the BJP has completely failed in adopting new technology, which is why people’s money is being looted in Haryana.
Finance Minister Cheema explained that after the Aam Aadmi Party government was formed in Punjab in 2022, the e-Deposit Management System was implemented with the help of NIC to further strengthen the banking sector.
He stated that under this system, whenever any government department, corporation, board, institution, or undertaking in Punjab wants to deposit its funds in a bank, it must go through an open bidding process.
The Finance Minister said that the Punjab government has empaneled 21 banks. When bidding takes place among these 21 banks, the bank offering the highest interest rate receives the deposit from the concerned board, corporation, or institution.
This ensures maximum interest income for the state treasury. He added that these deposits are for durations of 15 days, one month, six months, or nine months.
Cheema further stated that from 2022 until now, approximately 100 to 150 bids are conducted every month by various institutions, corporations, boards, and departments of Punjab.
He said that the Punjab government has not left this system solely to the banking sector; instead, one senior officer from a bank and one senior officer from the Punjab government have been appointed to oversee it, ensuring that no fraud of any kind or at any level can occur.
Finance Minister Cheema said that no such mechanism was created in Haryana, which led to a fraud of more than ₹550 crore during the BJP government’s tenure. He stated that the BJP has failed to adopt new technology across the country, whereas the Aam Aadmi Party government has consistently adopted the latest technologies.
In strong words, Cheema said that wherever there is a BJP government, frauds are continuously occurring and people’s money is being looted through the banking sector.
He alleged that BJP leaders have kept loopholes within the banking sector. In contrast, after the Aam Aadmi Party government came to power in Punjab, all the shortcomings (loopholes) that existed during previous governments, wherever thefts used to occur, have been closed.
The Finance Minister proudly stated that the e-Deposit Management System is an excellent arrangement implemented by the Aam Aadmi Party government in 2022, and because of it, no banking fraud of any kind has taken place in Punjab.
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