A major investigation into alleged financial irregularities involving government funds in Haryana has taken a significant turn. The Anti-Corruption Bureau has arrested Priyanka, dealing head of the Sector-32 branch of IDFC First Bank, and former dealing head Anuj Kaushal. Authorities suspect both officials played a key role in the alleged ₹590 crore fraud by verifying forged signatures and allowing questionable financial transactions. The arrests followed several hours of questioning, after which both individuals were taken into custody in Chandigarh.
Investigators say the case involves nearly ₹590 crore deposited by various departments of the Haryana government in the bank. The funds were reportedly meant to be invested in fixed deposits, which are generally considered a secure way for government bodies to manage surplus funds. However, authorities suspect irregularities within banking procedures led to the misuse and diversion of these funds. Preliminary findings indicate serious lapses in the verification of documents and signatures linked to the deposits, which may have allowed large sums to be transferred improperly.
Sources said Priyanka is currently posted at the bank’s Chandigarh branch, while Anuj Kaushal is no longer associated with the bank. During the inquiry, investigators found that both officials were responsible for verifying documents and signatures before approving certain transactions. Authorities believe discrepancies in this verification process may have enabled significant transfers through suspicious channels. The probe also revealed that forged signatures of D.K. Behera were allegedly used in the documents, raising concerns that fake authorisations may have allowed the transactions to proceed further in the banking system.
The Anti-Corruption Bureau has been conducting continuous questioning over the past 2 days and has also interrogated 3 bank-related officials and employees from 2 government departments. During the investigation, officials also questioned Swati Dhiman, associated with IDFC Bank, and Arun Sharma, regional head of AU Small Finance Bank. Investigators say banking documents, financial records and digital data have provided several leads, helping them track the movement of government funds and identify the accounts involved. Authorities indicated that more individuals may come under scrutiny as the investigation continues, and further action will depend on evidence collected during the probe.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream LinkedIn | The Mainstream Facebook | The Mainstream Youtube | The Mainstream Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future
