How Haryana lost ₹590cr in bank fraud
A huge bank fraud has rocked Haryana, with about ₹590 crore stolen from government accounts at IDFC First Bank's Chandigarh branch.
The trick? Allegedly forged signatures of ex-Director General DK Behera were used on cheques and debit notes—after he relinquished charge (no date given in source)—to quietly drain funds meant for the Mukhyamantri Gramin Awas Yojana.
More than 170 state accounts were hit before anyone noticed.
Banks blacklisted by Haryana government
The scam started to unravel when a suspicious account closure request turned up odd paperwork, like a cheque for ₹2.5 crore but with "Rupees Twenty Five" written in words.
Investigators found that almost ₹300 crore was funneled to Swastik Desh Projects via AU Small Finance Bank in Mohali.
Four people—including two former bank employees (a former branch head and a former relationship manager) and Swati and Abhishek Singla, owners of Swastik Desh Projects—were arrested.
The bank has since refunded most of the money, while both banks involved have been blacklisted by the Haryana government.
A special team is still digging through hundreds of transactions as the case unfolds.