India, Sept. 10 -- In a move aimed at avoiding delays in processing payments through the treasury system, the Telangana government has allowed Gram Panchayats to deposit their funds, including their own revenue resources, in the nearest banks or post offices.

The State Legislative Assembly on Thursday passed a Bill amending the Telangana Panchayat Raj Act, 2018. Through the amendment, the government has inserted sub-section (3) under Section 70 of the Act.

The newly inserted provision states: "All moneys and funds received by the Gram Panchayat, including amounts received under schemes of the Central Government, shall be deposited forthwith in the nearest Nationalised Bank, Co-operative Bank or Post Office in such manner as may be presc...