economy

CBI arrests two ex-bank officials in ₹504 crore Haryana government fund fraud

Published on: 30 Jun 2026, 11:06 AM

The Central Bureau of Investigation (CBI) has arrested two former bank officials in connection with the alleged misappropriation of ₹504 crore belonging to eight departments of the Haryana government. The funds were allegedly diverted through fraudulent fixed deposits and bank transactions.

Those arrested are Shamim Dar, former Area Head of IDFC First Bank, and Charanjeet Singh Randhawa, former Branch Manager of AU Small Finance Bank’s Mohali branch. The CBI stated that the two played key roles in facilitating the opening of bank accounts and processing fraudulent transactions through which public funds were diverted.

The agency said it had collected incriminating evidence against both during the course of the investigation. The arrests are part of a larger probe into the alleged fraud, which came to light after a complaint from the Haryana government.

The CBI has not yet disclosed further details about the modus operandi or the specific departments involved. The investigation is ongoing.

Source: Indian Express

Latest in Economy 10

economy

India's green bond premium persists as insurers seek long-term sustainable assets

India's sovereign green bonds have maintained a consistent greenium, with insurers showing strong demand for long-term papers. Market participants believe the government can increase supply in the second half of the fiscal year, though careful calibration remains essential.

The Hindu 14 Aug 2026, 04:53 PM

economy

HSBC India opens second Kerala branch in Thiruvananthapuram

HSBC India has opened a new branch in Thiruvananthapuram, its second in Kerala. The branch is part of a 20-branch expansion approved by the RBI in January 2025, and will focus on wealth and premier banking services for the state's NRI community.

The Hindu 14 Aug 2026, 02:28 PM

economy

US Report: Tariff Evasion Through Transshipment Costs $19-26 Billion Annually

A White House report estimates that countries routing exports through third nations to avoid U.S. tariffs cost $19-26 billion annually in lost revenue. The report highlights China's transshipment practices and comes ahead of Chinese leader Xi Jinping's planned September visit to Washington.

NDTV 14 Aug 2026, 05:45 AM

economy

Plugzmart signs ₹100-crore MoU with Tamil Nadu to scale EV charger manufacturing

Plugzmart, an EV charging startup incubated at IIT Madras, will invest ₹100 crore in Tamil Nadu to expand manufacturing and R&D, expecting to create 500 jobs. The MoU was signed at the Vettri Tamil Nadu Investment Conclave 2026.

The Hindu 14 Aug 2026, 05:50 AM

economy

Onam shoppers in Kozhikode hit as vegetable prices climb before festival

Vegetable prices in Kozhikode have risen sharply ahead of Onam, straining household budgets. Heavy rainfall has damaged crops, driving up costs of ginger, carrots, and beans, with further increases expected as demand grows.

The Hindu 13 Aug 2026, 02:20 PM

economy

Tamil Nadu's first investment conclave seals 97 MoUs worth ₹67,542 crore

At its first investment conclave, the Tamil Nadu government signed 97 MoUs worth over ₹67,542 crore, with commitments from Daimler, Hinduja, Saint-Gobain, and others. The government said cumulative investments in its first 100 days will cross ₹1 lakh crore and create over 1.2 lakh jobs.

The Hindu 13 Aug 2026, 07:25 AM

economy

Bihar partners with Indian Potash to reopen two sugar mills, create jobs

Bihar's government has signed an agreement with Indian Potash Ltd to set up and operate two sugar mills in Madhubani and Darbhanga, as part of efforts to revive closed mills and boost farmer incomes. The project will include distilleries, cogeneration units, and CBG plants, alongside initiatives like vegetable centres and crop insurance.

The Hindu 13 Aug 2026, 05:54 AM

economy

Income Tax Refund Delayed? Know the Common Reasons and How to Check Status

Many Indian taxpayers are still waiting for income tax refunds for Assessment Year 2026-27. Common reasons include pending e-verification, bank account issues, mismatches in records, and additional scrutiny. Taxpayers can check their refund status online and take corrective steps to speed up the process.

NDTV 13 Aug 2026, 05:05 AM

economy

Seven firms show interest in modernising Kamarajar Port's cargo berth

Seven firms have expressed interest in upgrading Kamarajar Port's General Cargo Berth-1 at an estimated cost of ₹221 crore under the PPP model. The project, which received environmental clearance, will raise the berth's capacity from 2 million to 3 million tonnes per annum and convert it into a multi-purpose facility.

The Hindu 12 Aug 2026, 07:22 PM

economy

Cybersecurity is economic imperative, not just a tech issue: Karnataka IT Secretary

At a Cyber Dialogue with Israel, Karnataka IT Secretary N. Manjula said cybersecurity is now an economic imperative and a governance priority. The event, featuring 10 Israeli cybersecurity companies, explored collaboration in innovation, talent, and digital resilience under the Global Innovation Alliance.

The Hindu 12 Aug 2026, 07:26 PM

→ View All Economy News