Manipur Dy CM stripped of finance portfolio; CM N Biren Singh takes over as financial crisis grips state

Within a day of Reserve Bank of India stopping fund flow to Manipur due to excess withdrawals by state departments, Chief Minister N Biren Singh stripped deputy chief minister Joykumar

Within a day of Reserve Bank of India stopping fund flow to Manipur due to excess withdrawals by state departments, Chief Minister N Biren Singh stripped deputy chief minister Joykumar Singh of finance portfolio and has banned all hiring.

A 3-member high level committee has been set up to investigate the large drawals. Chief Minister has decided to keep the finance, power and public works portfolios with him.

He has rushed to Delhi to take up the issue of additional central assistance to overcome the financial crisis that the state is staring at.

A day after RBI decided to stop all payments to Government of Manipur with immediate effect following the state government drawing more than the agreed amount, Chief Minister Biren Singh on Thursday held emergency meetings with all the state departments.

Earlier, as an immediate measure, the state government had put on hold all recruitment’s. An office memorandum has been issued asking all departments including all public sector undertakings and corporations to stop all hiring activities with immediate effect.

Meanwhile, the Chief Minister relieved his deputy Y Joykumar Singh of his finance portfolio, the portfolios of other ministers like Biswajit Singh also has been changed.

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