Haryana mandates exclusive banking with public sector banks, drops IDFC First and AU Small Finance
Haryana mandates exclusive banking with public sector banks, drops IDFC First and AU Small Finance is drawing significant interest across the industry.
Haryana government has mandated all its departments and state-run entities to exclusively bank with public sector banks. Private bank accounts now require Finance Department approval. IDFC First Bank and AU Small Finance Bank have been removed from the approved panel due to non-adherence to fixed deposit conditions, leading to potential financial losses for the state.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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