Haryana: Panchkula civic body finds discrepancies of Rs 150 crore in its FDRs with private bank

₹150 crore fraud detected at Kotak Mahindra Bank’s Panchkula branch; probe ordered

New Delhi: A major financial irregularity has come to light in Haryana, where the Panchkula Municipal Corporation has found discrepancies of over Rs 150 crore in its fixed deposits with Kotak Mahindra Bank.   The development comes just a month after a Rs 590-crore fraud was reported at the Chandigarh branch of IDFC First Bank. According to NDTV Profit report, the civic body had invested funds in fixed deposit receipts (FDRs) at the bank’s Sector…

Haryana: Panchkula civic body finds discrepancies of Rs 150 crore in its FDRs with private bank

Chandigarh, Mar 24 (PTI) The Panchkula Municipal Corporation has found discrepancies in its Fixed Deposit Receipts (FDRs) with a private bank amounting to nearly Rs 150 crore, a senior official said on Tuesday.“Some of the FDRs were with the bank for a long time in the Panchkula branch. Discrepancy was found when the bank was asked to transfer the funds upon maturity of one of the FDRs," Vinay Kumar, Commissioner of the Panchkula Municipal Corpo…