Two of the arrested are former employees of the bank, while the other two are private individuals associated with a partnership firm.
The arrests were made on Tuesday (February 24) evening as part of the ongoing investigation by the State Vigilance and Anti-Corruption Bureau (ACB). Earlier, the ACB had registered a First Information Report (FIR), and the Haryana government constituted a committee to examine the matter and determine accountability.
The fraud, disclosed by IDFC First Bank on February 18, involved funds from accounts held by the Haryana government. The bank said it has returned ₹583 crore, including principal and interest, to the state government departments. Haryana Chief Minister Nayab Singh Saini told the State Assembly that nearly ₹556 crore, including around ₹22 crore in interest, was recovered within 24 hours.
Saini clarified that the irregularities were primarily linked to the bank’s Chandigarh branch and involved alleged collusion among middle- and lower-level employees. He added that the swift recovery was made possible through coordination between the state government and senior bank officials.
The Chief Minister emphasised that the government will hold all responsible parties accountable, whether bank employees, private individuals, or government staff.
The FIR registered by the ACB cites provisions under the Prevention of Corruption Act and the Bharatiya Nyaya Sanhita, including criminal breach of trust, cheating, forgery, and criminal conspiracy. The investigation includes employees of IDFC First Bank and AU Small Finance Bank, along with unidentified public servants and private individuals.
–With PTI inputs
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