Fraudulent Finance: Haryana's Bank Scandal Unveiled
A committee in Haryana has uncovered significant fraud and procedural lapses involving IDFC First Bank and AU Small Finance Bank, leading to a police investigation. With alleged forged signatures and discrepancies, the State Vigilance Anti-Corruption Bureau has initiated a probe into the mismanagement of government funds under the MMGAY-2.0 scheme.
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- India
A scandal involving major financial mismanagement has erupted in Haryana, as a committee uncovered alleged forgery and procedural errors involving officials from IDFC First Bank and AU Small Finance Bank. This has prompted a police investigation.
The committee was formed in February to probe mismatches and issues within IDFC Bank First accounts. The findings have been incorporated into an FIR by the State Vigilance Anti-Corruption Bureau, triggering a deep dive into the $590 crore fraud revealed by IDFC First Bank.
The investigation highlights severe procedural lapses, including forged signatures and transaction discrepancies. Subsequently, IDFC First Bank and AU Small Finance Bank were de-empanelled from government business by Haryana, pending further action. The state government vows accountability for all involved.
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