THE REAL SCANDAL IN IDFC CASE GOES BEYOND THE FRAUD

The IDFC First Bank fraud has angered people.

- DHIRENDRA KUMAR

But the more interesting question is this: Why exactly are people angry?The fraud itself—₹590 crore siphoned from Haryana government accounts through its Chandigarh branch, allegedly by employees colluding with outsiders—is dismaying but not surprising. Bank frauds have happened before and will happen again. That alone isn’t what's fuelling the outrage on social media, but entirely something else.

Most funds were restored within a day. Haryana's chief minister said nearly ₹556 crore was recovered almost immediately. The bank reimbursed the state with interest, and the Reserve Bank of India declared no systemic risk. Everyone moved on. That is precisely what has angered ordinary people. They compare it with their own experience—and the contrast is stark.