Investigators in Haryana are looking into the Rs 590-crore IDFC Bank scam. They have found at least 391 suspicious transactions in over 170 accounts over the past few months. This includes key Haryana government departments, bank employees, and four senior IAS officers.
Sources shows that many of the accounts under investigation belong to businessmen, real estate firms, and realtors in Chandigarh and Haryana.
IDFC Bank falls in 590 crore scam
Around Rs 70 crore frozen in these accounts, and efforts to identify more accounts are ongoing. The state government offices investigated include the Development and Panchayat Department, Urban Local Bodies Department, Municipal Corporation (Panchkula), and the Haryana State Pollution Control Board. Investigators will also look into the roles of four IAS officers and their connections to account holders who allegedly received government money from IDFC First Bank employees.
Probe starts on 391 suspect transactions
Haryana Police have asked the suspects, mostly bank employees who currently suspended, to participate in the investigation. One key suspect is considered “untraceable” and thought to have left the country. Sources explained that IDFC Bank authorized to hold state government funds as fixed deposits (FDs), generally for a year.
IDFC was among the banks offering higher interest rates, around 7.5 percent. Out of the total amount involved, about Rs 450 crore deposited as FDs by various government departments, while the rest kept in other forms.
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