The findings of this committee have been included in the FIR registered by the State Vigilance Anti-Corruption Bureau following directives from the state government.
On Sunday, IDFC First Bank disclosed a fraud worth Rs 590 crore committed by its employees and others on accounts of the Haryana government.
The Anti-Corruption Bureau is currently conducting an investigation into the matter.
An FIR has been filed in this case under Section 13 (2) of the Prevention of Corruption Act, and Sections 316(5) (criminal breach of trust), 318(4) (cheating), 336(3) (forgery), 338 (forgery of valuable security), 340(2) (forged document) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita.
According to the FIR, “two accounts were opened with IDFC First Bank and AU Small Finance Bank under the MMGAY-2.0 scheme on September 26, 2025.” Initially, a fund of Rs 50 crore and Rs 25 crore was transferred to IDFC First Bank and AU Small Finance Bank respectively, as per their fund limits in accordance with the finance department’s instructions dated July 12, 2024.
The details submitted to the committee revealed that at no point of time had any permission for utilization of the fund been given by the competent authority and the entire amounts of Rs 50 crore and Rs 25 crore were required to remain safely in the accounts for the entire duration.
Letters dated January 13, 2026 were sent to both IDFC First Bank and AU Small Finance Bank to close the accounts and transfer available funds worth Rs 50 crore and Rs 25 crore respectively, along with accrued interest, and transfer the amounts to AXIS bank.
In response, AU Small Finance Bank transferred Rs 25,45,84,863 to Axis Bank and closed the account on January 16, 2026. However, IDFC First Bank transferred only Rs 1,27,44,689 to Axis Bank and proceeded to close the account despite the closure request clearly specifying that an amount of Rs 50 crore, along with accrued interest, would be transferred, the FIR said.
After receiving this information, the department expressed its disagreement with the status of the account and the statement made by IDFC First Bank.
“For further investigation into this matter relating to IDFC First Bank, the account opening form, log details and voucher details of all transactions have been requested from the bank. The bank submitted these details on February 16, 2026.
The senior officials of IDFC First Bank, who attended the proceedings of the Commission of Inquiry on February 16, 2026, were directed to submit their written statements along with details to be presented to the Commission of Inquiry on February 16, 2026. The officials promised to file the said statement after thorough investigation and following the SOPs of the bank, but no such statement has been filed by the said officials so far,” the FIR said.
It further states: “The documents presented before the committee reveal that: Several checks along with debit notes were processed by the Bank for payment transfers. These checks prima facie bore forged signatures of the then Director General (Developments and Panchayats), DK Behera, despite the fact that he had relinquished his post on 28.10.2025.” It is further stated that the debit notes attached to the checks have no memo number or dispatch number and again appear to contain a forged signature.
It has also been observed that in one of the checks processed by the bank, the amount is mentioned in figures as Rs 2.50 crore, while the amount is written in words as “Rupees twenty-five”, which has been honored and processed by the bank, indicating a serious discrepancy.
After examining the available data, the committee came to a unanimous conclusion: according to the documents, the department used debit notes for fund transfers under the scheme for transactions approved by the competent authority. “As per the records, no instructions for transfer of funds have been issued by this department in these two bank accounts.
“…Therefore, it appears to be a case of forgery and procedural lapse by officials of both IDFC First Bank and AU Small Finance Bank and it is recommended that a thorough investigation be conducted by the state police in this matter,” the commission report said, according to the FIR.
Earlier on Tuesday, Haryana Chief Minister Nayab Singh Saini had informed the state Assembly that the government will ensure that anyone involved, be it a bank employee, a private individual or even a government employee, will not be spared.
On February 18, the Haryana government officially barred IDFC First Bank and AU Small Finance Bank from participating in government activities, with immediate effect and until further notice. As a result, no government funds will be deposited, invested or traded through these banks, according to an official circular.
Published on February 25, 2026
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