CBI raids Chandigarh and Panchkula as IDFC First and AU Small Finance fraud probe widens

CBI suspects embezzlement via jewelry showrooms

CBI carried out searches at seven locations across Chandigarh and Panchkula as part of a fraud probe involving IDFC First Bank and AU Small Finance Bank. The case, handed over by the Haryana government, investigates allegations that bank officials allegedly conspired with public servants to misappropriate government funds. Authorities claim the wrongdoing was routed through jewelry showrooms and private entities, widening the inquiry into how credit and payments were potentially manipulated.