The CBI has secured two days' custody of suspended Haryana IAS officer Pradeep Kumar Dagar in the alleged IDFC First Bank-linked fund diversion case as investigators widen their probe into the suspected Rs 504-crore banking fraud involving multiple Haryana government departments.
A major development has emerged in the alleged government fund misappropriation case linked to IDFC First Bank, with the Central…
The development comes shortly after the CBI widened its investigation beyond Haryana and Chandigarh, carrying out searches at multiple locations in the National Capital Region as part of its ongoing probe into alleged irregularities involving deposits maintained with IDFC First Bank and AU Small Finance Bank.
Investigators are probing 391 suspect transactions across 170+ accounts. IDFC First Bank has suspended staff and ordered a forensic audit.
Two banks have been de-empanelled and four officials suspended after irregularities in Haryana government-linked accounts surfaced, triggering an FIR, an Assembly confrontation, and RBI reassurance on stability.
IDFC First Bank said it had detected irregularities in accounts related to the State government of Haryana. According to the lender, the suspected fraud took place at the branch level, wherein fraudulent cheques and manual entries were used to carry out unauthorised transactions.
The state government ordered all departments, boards, corporations and public sector undertakings to stop using these banks for deposits, investments or any other financial dealings.
Private lender IDFC FIRST Bank on Saturday posted a consolidated net profit of Rs 295.6 crore for the fourth quarter (Q4) of FY25, nearly 60 per cent decline compared to Rs 731.9 crore reported in the same period in FY24.
The new product has been launched in association with HPCL and RuPay.
This is already playing out over the last two and a half years, as the NIM has already expanded from 1.84 percent pre-merger to 5.09 percent in Q4 FY 21 and further to 5.51 percent in Q1 FY 22.
