- Haryana government suspended two IAS officers over their alleged role in a major banking scam.
- The fraud involves diversion of public funds into unauthorized accounts and private assets.
- The case has been handed over to the CBI amid a widening multi-agency investig
The Haryana government suspended two IAS officers, Ram Kumar Singh and Pardeep Kumar, on Thursday for their alleged involvement in the Rs 590 crore IDFC First Bank scam. After the investigation, the officers' names came under suspicion for their connection with other accused in the case, The Indian Express reported.
The Haryana State Vigilance and Anti-Corruption Bureau's probe into the IDFC First Bank scam revealed that both the officers own properties worth crores.
The Anti-Corruption Bureau (ACB) is already taking several IDFC First Bank employees into custody. Recognising the scale and complexity of the fraud, the Haryana government has formally referred the case to the Central Bureau of Investigation (CBI) for a federal-level probe, as per TOI.
IDFC Forgery Scam
The scams involve a sprawling web of financial irregularities. Officials, by exploiting their positions, allegedly bypassed standard protocols to divert hundreds of crores in public money into unauthorised accounts at private banks like IDFC First and Kotak Mahindra.
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A massive Rs 597 crore fraud has exposed unauthorised diversion of state department deposits. Funds from the Haryana State Pollution Control Board, which were meant for fixed deposits at IDFC First and AU Small Finance Bank, were instead funneled into Swastik Desh Projects, where they were allegedly converted into private luxury assets and high-end real estate.
A parallel probe into a Rs 158 crore scam has targeted the Panchkula Municipal Corporation's dealings with Kotak Mahindra Bank. The scheme involved the use of forged documents and unauthorised accounts to liquidate government FDs ahead of schedule and implicated a network of corrupt officials and banking staff.
The investigation accelerated with the arrest of key conspirators after the probe in March 2026, which also included the delisting of private banks following the forgery case by the Haryana government.
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