Haryana mandates exclusive banking with public sector banks
Government entities must use only public sector banks for accounts
Change
Haryana required all departments to operate bank accounts only with public sector banks and restricted private bank usage.
Why it matters
The directive prohibits opening or operating accounts with private banks without approval and mandates closure of non-compliant accounts.
Implications
- — Departments must shift accounts to public sector banks — non-compliance risks account closure
- — Finance teams must obtain approval for any private bank use — failure risks irregular classification
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