Ranchi University Restructures Bank Accounts for 12 Academic Departments Ranchi University has initiated a major overhaul of its financial operations by restructuring the bank accounts of 12 academic departments. The decision involves closing existing accounts and transferring funds to new accounts managed by department heads. The move aims to address financial irregularities and improve transparency in the allocation of resources. According to the university administration, the restructuring process will begin with the closure of old accounts and the opening of new ones. The funds currently held in Canara Bank will be transferred to the new accounts, which will be managed jointly by department heads and their designated representatives. For instance, the Journalism and Mass Communication department will have its account transferred to HDFC Bank’s Shahi Chowk branch, while the Department of History and Distance Education will open new accounts at IDBI Bank’s Upper Bazaar branch. The list of departments affected includes the Department of Journalism and Mass Communication, Rural Development (Humanities), Public Administration (Political Science), PhD Course Work (English), M.Sc. Biotechnology (Botany), the Department of History, Distance Education Directorate, the Department of Indigenous and Regional Languages, ASTRC, MCA (Mathematics), Institute of Management Studies (IMS), and Institute of Legal Studies (ILS). These departments will either have their accounts moved to HDFC Bank or IDBI Bank, depending on their specific requirements. The university administration emphasized that the new accounts will be managed collaboratively by department heads and their representatives, ensuring greater accountability.#hdfc_bank #idbi_bank #canara_bank #ranchi_university #jharkhand_state_government
