Haryana Govt revises bank empanelment policy: removes ₹50 crore deposit cap for new banks and doubles cap for small finance banks to ₹50 crore per department-bank tie-up.

The Haryana Govt has implemented substantial modifications to the policy regarding the empanelment (inclusion in the panel) of institutions that are authorized to manage government transactions in the state.

The revised guidelines in this regard have been issued by Chief Secretary Sh. Anurag Rastogi, who also serves as the Additional Chief Secretary of the Finance Department.

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The Finance Department has eliminated the deposit limit of Rs 50 crore for banks (excluding small finance institutions) that are being empanelled with the State Government for the first time, as per the amended policy. Currently, these banks will be regarded in the same manner as those that have already been empanelled with the State Government.

Small Finance Banks have increased the permissible deposit limit for any one department and one bank from Rs 25 crore to Rs 50 crore. The terms and conditions outlined in the previous circular will remain unaltered.

Currently, the State Government has empanelled 28 institutions to conduct official transactions. Of these, public sector banks, private sector banks, and minor finance banks are included.