Chandigarh, Feb 24: The Haryana government has secured the return of Rs 556 crore that was compromised in a fraudulent scheme involving IDFC First Bank, Chief Minister Nayab Singh Saini announced today. The funds were restored to state accounts just one day after the bank disclosed the irregularities to the government.
The fraud, which totaled Rs 590 crore across various accounts, was reportedly facilitated by a group of bank employees working in tandem with outside individuals. IDFC Bank’s Managing Director and Chief Executive, V Vaidyanathan, stated during an investor call that the bank would be making certain provisions as a result of the incident, which primarily originated from a Chandigarh-based branch.
Chief Minister Saini affirmed the government’s stance on the matter during a session of the State Assembly. “The recovery has been made within 24 hours,” he said, ensuring the House that the principal amount and interest are now secure. He stated that the swift action distinguishes the current government’s fiscal oversight from that of past administrations.
To ensure a comprehensive investigation, the state has mobilized its Anti-Corruption Bureau. The Chief Minister declared that no one found guilty of participation in the scheme would be spared from legal consequences. He maintained that the government’s proactive approach ensures transparency in how public money is managed and protected.
The opposition Congress had previously raised concerns regarding the bank issue in the Assembly. In response, Saini asserted that the formation of a committee led by the Finance Secretary demonstrates the government’s resolve to uncover the full extent of the collusion.
