- SEC eases rules for Panchayat election candidates’ bank accounts
- Candidates can open new or existing accounts to manage election funds
Hyderabad: The State Election Commission (SEC) has issued key relief for candidates contesting the upcoming Panchayat elections. The commission amended rules regarding the mandatory opening of a separate bank account for election expenses.
Previously, candidates were required to open a new bank account for election funds a day before filing nominations. However, as the nomination process has already been completed, many candidates faced difficulties in meeting this requirement. The SEC took note of these challenges and acted to simplify the process.
State Election Secretary Manda Makarandu issued a circular introducing minor yet significant changes. “Candidates can open a new ‘current account’ for election expenses in the same bank branch where they already have an account. Or they can take a new account in any other bank,” he said. This measure aims to save candidates time and expedite the account opening procedure.
The decision is expected to reduce stress for aspirants who were concerned about delays in the banking system. Previously, the process of opening a fresh account could take several days, potentially affecting campaign planning. With this flexibility, candidates can now focus on election preparations without worrying about compliance issues.
Election experts said this move by the SEC will streamline financial management during the Panchayat polls. It ensures transparency in handling election funds while offering candidates practical solutions. By allowing the use of existing bank branches, the SEC also minimizes logistical challenges for those with limited access to multiple banking facilities.
The circular reflects the commission’s responsiveness to candidate needs while maintaining regulatory oversight. It underscores the importance of proper financial procedures in elections and emphasizes efficiency without compromising compliance. Candidates are advised to follow the circular’s instructions to ensure their election expenditure accounts meet SEC guidelines.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
