CBI Alleges Approval Irregularities in Deposit Ceiling Removals Affecting Several Banks
What happened
The CBI has accused an IAS officer of raising IDFC FIRST Bank’s deposit ceiling without the required approval from Chief Minister Nayab Singh Saini. The CBI stated that CM Saini had approved a proposal on September 23, 2025, concerning several banking matters. These matters included empanelling DCB Bank, removing the deposit ceiling of Rs 50 crore in Bandhan Bank, and upgrading the deposit limits for Jana Small Finance Bank.
From tribuneindia.com
Why it matters
The CBI found that the approval process was specific to IDFC First Bank's Sector 32, Chandigarh branch. The allegations relate to a larger Rs 657-crore scam and question whether the necessary official approvals were obtained for the changes made to the financial institutions.
From tribuneindia.com
Who's involved
- Bandhan BankIndian private sector bank implicated in the allegations regarding deposit ceiling removal.
- IDFC FIRST BankIndian banking company at the center of the allegations regarding unauthorized ceiling removal.
- DCB BankBank involved in a proposal that CM Saini had approved regarding its empanelment.
- Jana Small Finance BankSmall finance bank whose deposit limit upgrade was part of the approved proposals.
- Nayab Singh SainiChief Minister whose office is accused of being bypassed in the approval process.
Keep exploring
The entities involved
-
Bandhan Bank
Indian private sector bank
Nothing else this week.
-
IDFC FIRST Bank
Indian banking company
-
DCB Bank
bank in India
Nothing else this week.