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Haryana Banks De-empaneled After Rs 590 Cr Fraud
22 Feb
Summary
- Government bank accounts are de-empaneled from two banks.
- A fraud of Rs 590 crore was reported in Haryana government accounts.
- All government funds must be transferred out of the affected banks.
The Haryana state government's finance department has issued a directive to de-empane panel all government bank accounts from IDFC First Bank and AU Small Finance Bank, effective immediately. This significant decision was prompted by the revelation of a Rs 590 crore fraud perpetrated by employees within Haryana government accounts held at IDFC First Bank.
As a result, the state government has strictly prohibited any parking, depositing, investing, or transacting of government funds through these two private financial institutions. All government departments are now required to transfer their balances and close any existing accounts with IDFC First Bank and AU Small Finance Bank. This measure aims to secure state finances following the reported fraud.
