Fin min cautions banks not to adjust KMUT honorarium toward bank charges

CHENNAI: State finance minister Thangam Thennarasu on Sunday cautioned the banks in the state not to adjust Rs 1,000 monthly KMUT (Kalaignar Magazhir Urimai Thogai) honourarium deposited in women beneficiaries accounts towards any banking charge or loans.

In a statement issued exclusively for the purpose, Thennarasu said, "while other states are commending Tamil Nadu's scheme in amazement, some sporadic complaints have come to the notice of the state government. Some banks were stated to have adjusted the KMUT honorarium deposited in beneficiary accounts towards banking service charge and deductions for loans already availed. It is a very worrisome development."

Referring to the advice given to the banks in the state in a recent meeting for not deducting from KMUT honourarium, the state finance minister said that it is unacceptable that some banks have not complied with the advice.

Stating that agreements have been signed between banks and Tamil Nadu government for not deducting from the KMUT honorarium, Thennarasu said that steps would be taken to migrate to other banks in the case of banks violating the agreement.

Informing that the state government would write to the union finance minister in this regard, Thennarasu advised those beneficiaries whose honorarium has been deducted by banks to report it to the state government through the Muthalvarin Mugavari helpline 1100.

The minister assured appropriate action on such complaints received from KMUT beneficiaries.