The Panchkula Municipal Corporation is investigating a significant ₹150 crore discrepancy in its Fixed Deposit Receipts (FDRs) with a private bank, raising concerns about financial security and prompting a State Vigilance investigation.
Key Points
- Panchkula Municipal Corporation discovers discrepancies in Fixed Deposit Receipts (FDRs) totalling nearly ₹150 crore with a private bank.
- The discrepancy was identified when the bank was asked to transfer funds upon maturity of an FDR.
- The matter has been reported to the State Vigilance for investigation into potential financial irregularities.
- This incident follows a recent ₹590-crore fraud involving IDFC First Bank in Chandigarh, highlighting concerns about banking security.
- Haryana State Vigilance and Anti-Corruption Bureau is already investigating the IDFC First Bank matter, with several arrests made.
The Panchkula Municipal Corporation has found discrepancies in its Fixed Deposit Receipts (FDRs) with a private bank amounting to nearly Rs 150 crore, a senior official said on Tuesday.
"Some of the FDRs were with the bank for a long time in the Panchkula branch. Discrepancy was found when the bank was asked to transfer the funds upon maturity of one of the FDRs," Vinay Kumar, Commissioner of the Panchkula Municipal Corporation, said.
Following enquiries, the discrepancies were detected in other FDRs as well, involving a total amount of nearly Rs 150 crore, he said over the phone.
"We have reported the matter to the State Vigilance," he said.
Related Banking Fraud Investigation
The fresh incident comes close on the heels of a matter involving the private sector IDFC First Bank, which had recently disclosed a Rs 590-crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana state government accounts.
Haryana State Vigilance and Anti-Corruption Bureau is currently probing the matter and has made several arrests.
IDFC First Bank earlier said the fraud is "confined to a specific group of government-linked accounts within the Haryana government operated through the Chandigarh branch", and stressed that it does not extend to other customers of the branch.
It had also said it received a request from a Haryana government department for the closure of its account at a Chandigarh branch and transfer of funds to another bank.
In the process, the bank observed differences in the balances in the account and the balances mentioned by the Haryana government department.
The discrepancy observed was of Rs 490 crore, and an additional Rs 100 crore was identified by the bank, taking the total discrepancy amount to Rs 590 crore.
