Chandigarh, Feb. 23 -- Private sector lender, the IDFC First Bank on Saturday disclosed that it has detected suspected fraudulent transactions amounting to Rs.590 crore at one of its Chandigarh branch involving accounts of Haryana government departments.

As per a regulatory filing made to the National Stock Exchange and Bombay Stock Exchange under SEBI's Listing Regulations, the Bank said it has placed four suspected officials under suspension pending investigation and filed a complaint with the police authorities.

Officials said the government funds allegedly transacted fraudulently belonged to the development and panchayats department. "The state government has referred the matter to Haryana crime branch for investigation," officials ...