IDFC First Bank, AU Small Finance Bank de-empanelled for govt business in Haryana
IDFC First Bank, AU Small Finance Bank de-empanelled for govt business in Haryana is drawing significant interest across the industry.
In several cases, it has been observed that despite clear instructions to place funds in flexible deposits or other fixed deposit instruments offering higher rates of interest, banks are retaining the funds in savings accounts, resulting in lower returns and consequent financial loss to the Government, as per the notification.
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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