Haryana recovers Rs 556 crore from IDFC First Bank within 24 hours, says CM Nayab Singh Saini
PTC Web Desk: Haryana Chief Minister Nayab Singh Saini on Monday informed the State Assembly that the government has successfully recovered nearly Rs 556 crore, including ₹22 crore in interest, in connection with the alleged fraud involving IDFC First Bank.
Addressing the House, Nayab Singh Saini stated that the entire amount due to the Haryana government departments has been credited back to official accounts within 24 hours. “Around Rs 556 crore, including Rs 22 crore as interest, has been returned within 24 hours,” the Chief Minister said, assuring legislators that no financial loss would be borne by the state exchequer.
The issue came to light after the bank disclosed on Sunday that a fraud amounting to approximately Rs 590 crore had been detected, allegedly involving certain employees and external entities. According to the Chief Minister, the bank informed the government that the irregularities were primarily linked to a specific branch in Chandigarh. He added that four to five mid and lower-level employees were suspected of colluding in the fraudulent transactions.
Nayab Singh Saini said strict action would be taken against all individuals found responsible.
Earlier, the Chief Minister had announced that the state’s Anti-Corruption Bureau (ACB) would conduct a detailed probe into the matter. In addition, a high-level committee headed by the Finance Secretary has been constituted to examine the circumstances surrounding the fraud and recommend further action.
The matter was raised in the Assembly by members of the Opposition Congress, who sought clarity on the financial exposure and accountability.
Meanwhile, IDFC First Bank’s Managing Director and Chief Executive Officer V. Vaidyanathan stated that the Rs 590 crore fraud linked to Haryana government accounts resulted from collusion between certain bank employees and external parties. The bank has initiated internal action and is cooperating with authorities in the investigation.
- With inputs from agencies
