Haryana Govt funds targeted in Rs 590 cr fraud at IDFC Bank; RBI says ‘monitoring developments’

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IDFC First Bank disclosed a major financial irregularity involving Rs 590 crore linked to Haryana government accounts. The incident has prompted the Haryana government to de-empanel IDFC First Bank, along with AU Small Finance Bank, from handling government business. While IDFC First Bank has acknowledged the fraud, AU Small Finance Bank has denied any involvement.