IDFC First reports Rs 590cr fraud in Haryana govt a/c; bank suspends 4 employees pending probe

.The bank's filing comes after the state directed its departments to close accounts with private lenders on Feb 18. The matter was escalated to the bank's board at a hastily convened meeting on Feb 21, after the lender filed a police complaint and notified regulators. It has also informed its statutory auditors and initiated the process of appointing an independent external agency to conduct a forensic audit. In addition, recall requests have been sent to certain beneficiary banks to lien-mark balances in s ...