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

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