Feb 23 • 13:32 UTC 🇮🇳 India Aaj Tak (Hindi)

'We will not spare the guilty...' Chief Minister Nayab Saini speaks on the 590-crore IDFC Bank scam

In the Haryana Assembly, Chief Minister Nayab Saini assured that a high-level investigation will be conducted regarding the alleged 590-crore scam involving IDFC First Bank, promising that those responsible will not be spared.

The issue of a 590-crore rupee scam related to IDFC First Bank was prominently raised in the Haryana Assembly on Monday, drawing intense criticism from the opposition towards the government. Opposition leader Bhupinder Singh Hooda questioned the government's actions, highlighting that the discrepancies were pointed out by the bank itself, hence they demanded accountability. In response, Chief Minister Nayab Singh Saini assured the house that a high-level investigation would be ordered, emphasizing that no guilty party would be overlooked.

This scam became public after a government department requested to close its account with IDFC First Bank and transfer its funds to another bank. Upon this request, the bank discovered a significant discrepancy between the actual amount held in the account and what was recorded. An internal investigation revealed that some employees at the Chandigarh branch colluded to defraud government funds. The bank disclosed this fraudulent activity involving 590 crores in a regulatory filing and has lodged a formal complaint with law enforcement.

The assembly session showcased the tensions between the government and opposition, with the latter pressing for accountability. As the investigations unfold and more information is revealed, the implications for the involved parties could be significant, potentially leading to political fallout and further scrutiny of financial practices within government-associated banks. The government's commitment to investigate this matter could also play a crucial role in public perception as they navigate the allegations of corruption and mismanagement.

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