Mumbai: RTI activist Anil Galgali said that the BMC prematurely broke eight fixed deposits totalling ₹2,360 crore six times over the past five years. This information was received by the activist in a reply to a query submitted by him to the BMC. The BMC, the wealthiest municipal corporation in the country, holds over ₹80,000 crores in fixed deposits across various banks.
Galgali had sought details from the BMC regarding the early termination of fixed deposits. In response, BMC's Deputy Chief Accountant (Revenue 2) provided a list of eight fixed deposits prematurely broken. On August 29, 2022, ₹645.
20 crores was withdrawn from Union Bank of India to pay salaries, pensions, and bonuses to employees ahead of the Ganeshotsav festival. A fixed deposit of ₹949.50 crores with State Bank of India, dated March 15, 2024, was liquidated to be given to MMRDA.
On August 19, 2019, ₹250 crores and ₹113 crores were withdrawn from State Bank of India to provide subsidies to BEST. On August 21, 2019, an additional ₹115 crores was withdrawn for the same purpose. On March 25, 2023, three fixed deposits totalling ₹279.
12 crores (₹100 crores, ₹92.06 crores, and ₹87.06 crores) were withdrawn from State Bank of India to continue funding subsidies to BEST.
.
