₹556 cr recovered from IDFC First Bank in 24 hours: CM Saini to Haryana assembly

Chief minister says bank returned principal amount and ₹22-crore interest by Monday evening; bank’s ‘middle-rung’ officials orchestrated illegal transfers.

Haryana chief minister Nayab Singh Saini informed the state assembly on Tuesday that the entire amount deposited with IDFC First Bank has been recovered, including interest, within 24 hours of the fraud coming to light.

Chief minister Nayab Singh Saini told the Haryana assembly on Tuesday that he entire amount deposited with IDFC First Bank has been recovered, including interest, within 24 hours of the fraud coming to light. (ANI Photo)

Making a statement on the floor of the House immediately after Question Hour, Saini said that by Monday evening, the bank had returned approximately ₹556 crore, which includes ₹22 crore in interest, to government accounts.

“The entire amount has been deposited back into our accounts. The full money has been recovered along with interest within 24 hours,” Saini told the House.

The chief minister said that the bank has informed the government that a few employees at its Chandigarh branch were allegedly behind the fraud. According to Saini, the illegality was orchestrated by “middle-rung officials” within the banking institution.

“We will ensure that all those responsible—bank employees, any private individual, or any government employee or officer—are brought to justice. Strict action will be taken against the guilty,” Saini said, maintaining a tough stance on financial propriety.

A day earlier, the chief minister had told the House that a suspected ₹590-crore fraudulent transaction involving state government accounts would be thoroughly probed and that “no one will be spared”.

Saini noted that the discrepancy was detected due to the alertness of government departments after bank statements failed to match official records. This prompted the government to immediately de-empanel IDFC First Bank on February 18, triggering a flurry of recovery efforts.

The case has now been officially handed over to the Anti-Corruption Bureau (ACB). Additionally, a high-level committee, headed by the finance secretary, has been constituted to conduct a forensic probe and fix accountability for the lapse.

“Whosoever has made a mistake will face the strictest action,” the CM said, adding: “No one can cast an evil eye on government money. The days when scams were hushed up are now over.”