The Haryana Anti-Corruption Bureau (ACB) has arrested four individuals in connection with a massive Rs 590 crore bank fraud case involving the IDFC First Bank’s Chandigarh branch. The accused include the bank’s former branch manager, Ravi Rishi, his wife Saurabh Singhla, Saurabh Singhla’s brother Abhishek Singhla, and the bank’s former relationship manager. According to reports, the accused individuals siphoned off a large amount of money from the Haryana government’s various departments, with approximately Rs 300 crore being transferred to the account of “Swaastik Desh Projects,” a company owned by Ravi Rishi’s wife and her relative.
The case came to light when the Haryana government discovered a discrepancy in the bank records and the actual balance of its accounts, prompting an investigation into other government accounts. The IDFC First Bank has stated that it has repaid the entire amount of Rs 583 crore, including interest, to the Haryana government departments and has pledged to cooperate with the ongoing investigation.
The ACB director-general, AS Chawla, has identified Ravi Rishi and Abhishek Singhla as the masterminds behind the fraud, which allegedly occurred after they left their jobs at the bank six months ago. The money was transferred from the Chandigarh branch to a different bank in Mohali, further complicating the case.
The case has sparked widespread attention, with the Indian media highlighting the alleged large-scale corruption and the brazen nature of the fraud. The ACB has pledged to conduct a thorough investigation and has assured the public that the perpetrators will be brought to justice.
The case is the latest in a series of high-profile bank frauds in India, which has raised concerns about the country’s financial sector and the need for stricter regulations to prevent such incidents.
In other news, the Indian Prime Minister, Narendra Modi, has become the first politician to reach 10 crore followers on Instagram, a social media platform. The achievement has been hailed as a testament to Modi’s popularity and his ability to connect with the masses through social media.
In a separate development, the Iranian Foreign Minister, Abbas Araghchi, has stated that his country will not give up its right to peaceful nuclear energy, despite the ongoing negotiations with world powers to limit its nuclear program. The statement comes after reports emerged of a secret meeting between Araghchi and Jeffrey Epstein, a wealthy businessman with ties to the Iranian government.
In sports news, the Indian cricket team has won the toss and elected to bowl first in the first ODI against the West Indies in Ahmedabad. The match is part of the ongoing tour of India by the West Indian team.
