Haryana asks CBI to probe ₹950cr at IDFC First, Kotak
Business
Big banking trouble in Haryana: The state government has asked the CBI to investigate massive scams at IDFC First Bank and Kotak Mahindra Bank.
Nearly ₹950 crore in public funds was allegedly siphoned off using fake fixed deposits and forged paperwork, exposing some serious flaws in how public money is managed.
Govt departments find ₹790cr, Kotak ₹158cr
The scams came to light when government departments tried closing their accounts and noticed money missing: around ₹790 crore had gone from IDFC First Bank alone.
At Kotak Mahindra Bank, a ₹158 crore fraud involved fake accounts set up with forged signatures for the Panchkula Municipal Corporation.
Because of all this, IDFC First Bank and AU Small Finance Bank were de-empanelled as a precaution.