Hr issues policy for banks empanelling

Haryana government has issued a policy regarding selection of banks for transacting official business.
The state government could increase the number of already empanelled banks by adding more private banks, an official spokesman said here today.
The policy aims at ensuring uniformity and transparency in conducting government business.
At present 26 public sector banks, six private banks and two regional rural banks are empanelled to transact government business, he said.
"It has been decided that all these banks would continue to be empanelled for transacting government business. Specific order in respect of more banks to be empanelled would be issued by the Department of Institutional Finance and Credit Control (IFCC) from time to time," he added.

He said that it has been decided that all the banks empanelled by the State are supposed to fulfil 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 do not provide the information as sought or which fail to fulfil the prescribed targets continuously for a period of one year would be considered for de-empanelment. The consequence of de-empanelment of a bank would be that no government business would be transacted with them.
The achievements of various government programmes by the empanelled banks would be monitored by the Department of IFCC, he added.

He said that the government would monitor the functioning on six-monthly basis and in the event of non-achievement of the targets in two consecutive six-monthly reviews-- that is for a period of one year, decision regarding de-empanelment of the bank would be taken.
The spokesman said that for transacting government business, it would be ensured that loans are raised from that bank which offers lowest rate of interest, adding that deposits would be given only to those banks which quote highest rate of interest.
He said that the list of empanelled banks in Haryana included Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, Punjab and Sind Bank, Syndicate Bank, Union Bank of India, UCO Bank, Vijaya Bank and IDBI Bank amongst Public Sector banks.

Similarly, from SBI and Associate Banks, it includes State Bank of India, State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore and State Bank of Travancore while from the private sector the banks include HDFC Bank, ICICI Bank and Axis Bank.