Haryana Chief Minister Nayab Singh Saini on Tuesday told the state assembly that the entire amount lost in the alleged fraud involving IDFC First Bank, including funds belonging to state departments, boards and corporations, had been recovered and deposited back into government accounts within 24 hours.
Addressing on the floor of the house, Saini said approximately Rs 556 crore was deposited back by the bank and that the state also received around Rs 22 crore as interest.
“I want to clarify before this House that the entire amount lost in yesterday's incident, including the funds of some Haryana government departments and boards and corporations, has been deposited back into our accounts within just 24 hours,” he said.
“Honourable Speaker, approximately Rs 556 crore was deposited by the bank, of which we also received interest of approximately Rs 22 crore. The interest has also been returned. We have deposited that amount and recovered all of that money within just 24 hours,” the Chief Minister added.
ALSO READ: IDFC First Share Plunge Due To Fraud Case, Not De-Empanelment, Says Bank
Saini told the Assembly that “four or five middle and lower-level employees” of a bank branch in Chandigarh had allegedly colluded in carrying out the operation.
He also said strict action would be taken against anyone found involved, including government personnel. “Strict action will be taken against any government official or employee involved in it,” he said.
The Chief Minister further announced that the Haryana government would constitute a high-level committee to fix accountability and recommend safeguards to prevent similar incidents in future.
He said the panel would not only identify and hold officers and employees accountable in the present case, but also suggest measures to avoid a repeat of such situations.
#WATCH | Chandigarh | On Rs 590 cr fraud at IDFC First Bank, Haryana CM Nayab Singh Saini says, "...I want to clarify before this House that the entire amount lost in the yesterday's incident, including the funds of some Haryana government departments and boards and corporations,… pic.twitter.com/LiEcWWm1bQ
— ANI (@ANI) February 24, 2026
Private sector IDFC First Bank had on Sunday disclosed a Rs 590-crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana state government accounts. IDFC First Bank had said that the fraud is "confined to a specific group of government-linked accounts within the Haryana government" operated through the said branch in Chandigarh", and stressed that it does not extend to other customers of the Chandigarh branch.
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