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CBI & ED Investigate Rs 645 Cr Embezzlement from Govt Accounts in IDFC First Bank, Raid IAS Officers Under PC Act

Target:UPSC GS-IIMPSCSSC GABankingTeachingPrelims HighMains MediumStatic GK Link
06 Jun 2026
~2 min
Source: Indian Express
Key Data:Rs 645 croreRs 70 croreSection 17A of PC Act
Bodies:Central Bureau of Investigation (CBI)Enforcement Directorate (ED)Haryana Power Generation Corporation Limited (HPGCL)Anti-Corruption Bureau (ACB) Panchkula
Practice MCQs from today's news ▸
What This Article Covers

1.CBI raids residences of four Haryana-cadre IAS officers in Chandigarh & Panchkula in Rs 645 crore embezzlement case from govt accounts in IDFC First Bank.

2.Investigation stems from FIR by Haryana ACB, taken over by CBI under Prevention of Corruption Act and Bharatiya Nyaya Sanhita; ED probing money laundering separately.

3.Examiner's angle: Inter-agency coordination (CBI, ED, State ACB), legal provisions (PC Act Section 17A, PMLA), and governance failure in safeguarding public funds.

The Big Picture
Prelims · HighMains · Medium

A major financial scandal involving the alleged embezzlement of Rs 645 crore from government accounts held with IDFC First Bank is under multi-agency probe. The CBI has raided IAS officers, while the ED has made arrests under PMLA, highlighting systemic vulnerabilities in public fund management and the role of investigative agencies like CBI and ED.

Exam Lens

Quick Exam Facts From News

Alleged Embezzlement AmountRs 645 crore
Key Investigative AgencyCentral Bureau of Investigation (CBI)
Money Laundering Probe ByEnforcement Directorate (ED)
Prior Approval MandateSection 17A, Prevention of Corruption Act
State Vigilance BodyAnti-Corruption Bureau (ACB), Panchkula

1-Minute Revision

  • ›Alleged Embezzlement Amount: Rs 645 crore
  • ›Key Investigative Agency: Central Bureau of Investigation (CBI)
  • ›Target this Data: Rs 645 crore (alleged embezzlement amount)
  • ›Target this Nodal Body: Haryana Power Generation Corporation Limited (HPGCL) & State Vigilance and Anti-Corruption Bureau (ACB), Panchkula
  • ›Target this Legal Point: Section 17A of the Prevention of Corruption Act, 1988 (prior approval for investigation)

Mastered this topic? Test your knowledge with a full MCQ quiz.

Practice exam-style questions, track your score, and strengthen your recall.

Q1Static LinkageEasy

Which central agency is primarily responsible for investigating offences under the Prevention of Money Laundering Act (PMLA), 2002, as mentioned in the news?

Q2Statement-basedMedium

Consider the following statements regarding the news:

1. The CBI raids were conducted after the Haryana government granted sanction under Section 17A of the Prevention of Corruption Act.

2. The alleged embezzlement involved funds from accounts of only the Haryana government maintained with IDFC First Bank.

3. The Enforcement Directorate arrested a real estate businessman alleging his role in the layering and concealment of proceeds of crime.

Which of the statements given above is/are correct?

Q3Data-centricEasy

According to the news article, what is the alleged amount embezzled from government and other accounts maintained with IDFC First Bank, as revealed by the ED investigation?

Q4Application/ImpactMedium

What is the primary purpose of the provision under Section 17A of the Prevention of Corruption Act, as invoked in this CBI case?

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