Status: Not ApprovedHEAD: 24_Gur_VC_IDFC First Bank MCG deposits Byline: Vishakha ChamanMcg withdraws rs 108 crore from idfc first bank and transfers funds to government bank amid alleged fraud concernsVishakha.chaman@timesofindia.comGurgaon: MCG withdrew Rs 108 crore from IDFC First Bank and transferred the funds to a govt bank amid concerns over an alleged Rs 590-crore banking fraud involving govt deposits at the private lender, officials said.The civic body’s decision came after the matter was raised in the Haryana Assembly, triggering political and administrative alarm over financial controls and public money safeguards. MCG officials said the corporation reviewed its arrangements and chose to close its account with the private bank as a precautionary move.“We secured Rs 108 crore and transferred the amount from IDFC First Bank to a govt bank. The funds were generated from the sale of MCG land and, in accordance with the latest policy, will be deposited into the ULB’s account, which mandates that proceeds from the sale of municipal land be credited directly to the ULB account,” an MCG official said.The MCG generated revenue of Rs 54 crore from interest on bank deposits or FDs in the last FY. The current FY’s projections stand at Rs 45 crore from interest on bank deposits.The alleged fraud first came to light when IDFC First Bank’s Chandigarh branch detected discrepancies amounting to approximately Rs 590 crore in accounts linked to various Haryana govt departments during routine closure and reconciliation processes. The bank suspended 4 officials pending investigation and filed complaints with the police and regulators.In response, the Haryana govt de-empanelled IDFC First Bank and AU Small Finance Bank for govt business and mandated that all departmental accounts in private banks be closed or transferred to nationalised lenders. An FIR was registered by the state’s Anti-Corruption Bureau and Vigilance Department, while a high-level probe was ordered by Chief Minister Nayab Singh Saini, who pledged strict action against anyone found culpable.Haryana Chief Minister Nayab Singh Saini on Tuesday informed the state Assembly that the govt recovered nearly Rs 556 crore in connection with the alleged IDFC First Bank fraud case. Speaking in the House, Saini said the amount, which included around Rs 22 crore in interest, was credited back within 24 hours, marking a swift recovery of the disputed funds. MSID:: 128753797 413 |
