New Delhi, Feb. 23 -- Clarifying instruction from the Haryana government de-empaneling it, AU Small Finance Bank informed the exchanges that it has "initiated an internal review" on this matter.

This comes after AU Small Finance Bank and IDFC First Bank on 22 February were de-empanelled for Haryana government business until further orders. This means both are barred and no government funds will be parked, deposited, invested or transacted through these institutions, as per a notice from the state Finance Department.

Notably, IDFC First Bank on 21 February said that four employees at a Chandigarh are suspected to be involved in a Rs.590 crore fraud targeting Haryana government-linked accounts.

According to the bank, on 16 February it re...