To promote industry in the state, the Haryana Cabinet has approved the Haryana Enterprises Promotion (Amendment) Bill, 2019. The Cabinet has approved the Haryana Private Security Agencies (Private Security to Cash Transportation Activities) Rules, 2019, under the Private Security Agencies (Regulation) Act, 2005, for ensuring better regulation of private security agencies engaged in cash transportation.
Public and private sector banks, and other financial service providers are outsourcing the secure handling and transportation of cash and valuables by the use of armoured car service being provided by private security agencies.
The privately owned cash vans and currency vaults have become soft targets for miscreants. In this regard, multiple incidents have been reported by state police agencies and there is an increased risk of large volumes of cash falling into the hands of undesirable elements.
