Chandigarh, March 13: CREST has issued an official statement clarifying that it held no fixed deposits with IDFC First Bank, contrary to recent media assertions. The society declared that all capital held in its three bank accounts is secure and accounted for following a thorough reconciliation process.
The matter surfaced on February 22, 2026, when reports alleged issues involving government accounts in Haryana totaling approximately Rs 590 crore. Following these reports, CREST sought immediate verification of its own balances. The organization stated that the bank provided a certificate on February 25 confirming that the account totals aligned perfectly with CREST’s own financial records.
Authorities affirmed that the transfer of funds to Punjab National Bank was completed on February 27. This move followed a directive from the Finance Department issued two days prior. CREST asserted that this transition was a precautionary measure and that no discrepancy in the total balance was found during the move.
The administration has since formed a committee to look into the matter. CREST declared that it is assisting the panel to determine if any internal procedures were overlooked. The society maintained that its financial health remains stable and that no public money was compromised.
While the reconciliation showed no missing funds, the results of the administrative probe are expected to provide further clarity on the situation. CREST declared that its bookkeeping remains up to date and transparent for the ongoing investigation.
