Karnataka withdraws boycott circular after SBI, PNB repay ₹23 cr

Karnataka government has withdrawn its circular to suspend all transactions with State Bank of India (SBI) and Punjab National Bank (PNB). This comes after the two banks repaid ₹22.67 crore, which was allegedly embezzled, along with a year's interest. The August 12 order had directed all the state departments to close their accounts with these banks and recover their deposits.