The Haryana State Vigilance and Anti-Corruption Bureau (ACB) has initiated a serious crackdown on IDFC First Bank in Chandigarh, registering an FIR related to a fraud case amounting to ₹590 crores. The investigation involves several bank officials, public servants, and other individuals implicated in the scheme, with charges framed under various sections of the Indian Penal Code (IPC) and the Prevention of Corruption Act (PC Act). Specific sections invoked include those pertaining to criminal breach of trust and serious fraud.

The fraud came to light when a government department discovered discrepancies while attempting to close its account and transfer funds. Officials found that large sums of money had been misappropriated from accounts belonging to several government departments. The FIR indicates that illicit activities included the use of forged documents to facilitate the unauthorized transfer of government funds, suggesting a substantial breach of trust and systemic corruption within the bank.

This scandal not only raises questions about internal controls at IDFC First Bank but also reflects broader issues of governance and accountability within public financial management in Haryana. The ramifications of this case could lead to significant legal consequences for those involved and prompt a reevaluation of banking practices in terms of transparency and oversight to prevent such incidents from recurring in the future.