In a major financial recovery operation, the Haryana government has secured ₹556 crore in principal amount and ₹22 crore in interest, totalling ₹578 crore, within 24 hours of the issue surfacing in connection with IDFC First Bank, Chief Minister Nayab Singh Saini informed the Assembly. The recovery addresses funds linked to a suspected ₹590 crore irregularity, meaning over 98% of the flagged amount has now been restored to state accounts.

Addressing the House, Saini said, “All the money that was being discussed from IDFC First Bank a day ago has been returned to government accounts.” He added, “A total of 556 crore rupees, including 22 crore rupees in interest, was returned within 24 hours.”

4–5 Employees Identified

CM Saini disclosed that initial findings have revealed internal involvement at the branch level. “The involvement of 4-5 employees of the bank’s Chandigarh branch has been revealed.” The state has indicated accountability will not be limited to banking personnel. “No one, whether a bank employee, a private individual, or a government official, will be spared in this matter.”

To ensure institutional corrective action, the government has constituted a high-level probe panel.“We have formed a committee headed by the Finance Secretary to investigate this entire matter.”The committee’s mandate extends beyond identifying responsibility. “This committee will not only investigate the entire matter but also make recommendations to prevent such incidents from recurring in the future.” The Finance Secretary-led committee is expected to submit recommendations aimed at preventing recurrence in government-linked banking operations.

Following the fraud disclosure, the Haryana government moved to de-empanel IDFC First Bank from government business. The government also instructed departments to shift balances and reconcile accounts.