Former Haryana finance minister Sampat Singh on Thursday demanded a time-bound independent investigation into the reported parking of about ₹224 crore of panchayat funds in private-sector banks without the approval of the competent authority.
Reacting to HT’s news-report of September 17, the Indian National Lok Dal (INLD) leader said the matter concerned Bal Jattan and Khandra gram panchayats of Panipat district, which received about ₹383.45 crore from the sale of panchayat land to Indian Oil Corporation Limited (IOCL). Bal Jattan received approximately ₹277 crore, while Khandra received about ₹106.44 crore.
Sampat said the money belongs to the panchayats and the people of Haryana and cannot be dealt with casually or outside prescribed financial procedures. “Panchayat land is public property and the money received from its sale is public money. Every rupee must be protected, fully accounted for and handled strictly according to financial rules,’’ he said.
Bal Jattan created 16 fixed deposits (FDs) totalling ₹264.96 crore, including around ₹165 crore in four private banks. Khandra created nine FDs totalling ₹101.81 crore, including about ₹60 crore in two private banks.
The former minister said the issue required greater scrutiny because the finance department had issued instructions on May 18, 2026, following the earlier IDFC First Bank controversy. These instructions reportedly required quotations from empanelled banks, a comparative statement and approval of the competent authority before placing funds in FDs.
{{/usCountry}}The former minister said the issue required greater scrutiny because the finance department had issued instructions on May 18, 2026, following the earlier IDFC First Bank controversy. These instructions reportedly required quotations from empanelled banks, a comparative statement and approval of the competent authority before placing funds in FDs.
{{/usCountry}}The government must explain who authorised these deposits and why the prescribed approval procedure was not followed, he said. He demanded a complete bank-wise and FD-wise investigation, including the dates of deposits, interest rates offered, selection of banks, officials responsible and any financial loss caused to the panchayats. He also demanded that the government make public the relevant file notings, bank quotations, comparative statements, approval records and FD documents.