THIRUVANANTHAPURAM: Finance Minister K M Mani has said that special counters will be opened in state treasuries to collect interest-free deposits.While replying to the discussion on the vote-on-account in the Assembly on Tuesday, he said that the government was not against the idea of Islamic Banking. However, the RBI and the Union Government had made it clear that the bank could not be allowed as per the present norms. As a result, the Government was accepting the suggestion put forward by M A Waheed for opening special counters in the state treasuries. Industries Minister P K Kunhalikutty said that the deposits mobilised would be invested in productive sectors. The returns made from such investments will be shared among the stakeholders. He alleged that the previous LDF Government had lapsed Central funds to the tune of Rs 1,641 crore. The vote-on-account was passed by a majority of 71 against 67 votes. Chandy supports Mani Intervening in the discussion on the vote-on-account, the Chief Minister said that the budget decision to earmark five per cent of plantation land for tourism purpose had the approval of the Cabinet. The clarification came in the wake of the controversies surrounding the proposal.Chandy said that the efforts to isolate and attack the Finance Minister on the issue would not be allowed. If there is a need for changing the decision in view of the changed circumstances, it can be discussed, the Chief Minister said.
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