Chandigarh, Aug 30- Haryana Cabinet which met under the Chairmanship of Chief Minister, Mr Manohar Lal here today, approved to frame 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.

The public and private sector banks and other financial service providers are outsourcing the secured handling and transportation of cash and valuables by use of armoured car service being provided by private security agencies. These privately owned cash vans and currency vaults have become soft targets for miscreants. In this regard, multiple incidents have been reported by various State Police Agencies and there is increased risk of large volumes of cash falling into the hands of undesirable elements.

Hence, it has become necessary to lay down guidelines for standard operating procedures for providing security by the private security agencies to cash transportation activities. Under the Rules, no private agency will provide security for cash transportation without license and they will use specially designed and fabricated cash vans. The private agencies will provide requisite number of trained staff whose antecedent should be checked through KVC verification and police verification for personnel deployed for cash transportation. The cash vans should have live GPS tracking during the operations. And also, proper guidelines for limiting cash in a single van should be framed. Specification for private cash vaults used for holding and overnight vaulting of bank currency should be made and also specify measures for risk mitigation. Adequate training and certification of personnel should be done.