The Anti-Corruption Bureau registered an FIR, while the state government constituted a committee to examine the fraud.
IDFC First Bank reported a Rs 590 crore fraud involving its employees and others in accounts held by the Haryana government. The bank has informed regulators and filed a police complaint, initiating internal reviews and forensic audits.
'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.'
The quantum of fraud detected by the bank is more than the 503 crore net profit it reported for the October-December quarter of 2025-2026.
A Haryana government employee has been arrested in connection with the Rs 590 crore IDFC First Bank fraud case, which involved state government accounts and led to the recovery of nearly Rs 556 crore within 24 hours.
A jeweller has been arrested in Haryana in connection with a Rs 590 crore fraud at IDFC First Bank. The investigation revealed that over Rs 250 crore was routed to the jeweller's firm from companies linked to the accused.
Haryana State Vigilance and Anti-Corruption Bureau arrests 11 individuals, including bank employees and a government official, in connection with a fraud case involving IDFC First Bank and the illegal diversion of government funds.
Chandigarh Police have launched an investigation into a fraud involving fake fixed deposit receipts (FDRs) worth 116.84 crore, allegedly issued by a private bank manager, impacting the Chandigarh municipal corporation's funds.
The Enforcement Directorate has frozen 90 bank accounts following searches related to the alleged siphoning of Rs 590 crore of Haryana government funds through IDFC First Bank, involving shell companies and bogus billing for gold purchases.
The Panchkula Municipal Corporation has reported discrepancies in its Fixed Deposit Receipts (FDRs) with a private bank, amounting to approximately 150 crore. The matter has been reported to the State Vigilance for further investigation.
The Enforcement Directorate has launched a money laundering investigation into the alleged embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank, conducting searches across multiple locations.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
'EV-charging is the next big opportunity after fuelling'
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
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