Govt frames banking policy | india | Hindustan Times
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Govt frames banking policy

india Updated: Nov 08, 2013 20:05 IST
HT Correspondent
HT Correspondent
Hindustan Times

To ensure uniformity and transparency in conducting government business, the Haryana government has framed a banking policy regarding the selection of banks.

An official spokesman said in a release on Friday that at present, 26 public sector banks, six private banks and two regional rural banks had been empanelled to transact government business.

The government could empanel more private banks. The department of institutional finance and credit control (IFCC) would issue orders when banks would be empanelled.

The spokesperson said it was decided that all empanelled banks were supposed to fulfill the requirement of participation in various government-sponsored schemes on the basis of targets set for them either by state-level bankers' committee (SLBC) or the government.

Those banks which would not provide the information as sought or which would fail to fulfill the prescribed targets for one year would be considered for de-empanelment.

The spokesperson said the government would monitor the information every six months and, in the event of non-achievement of the targets in two consecutive six-monthly reviews, a decision regarding the de-empanelment of a bank would be taken.