After the Rs 657 crore IDFC First Bank–AU Small Finance Bank scam, in which eight Haryana IAS officers are under CBI investigation, the state government has decided to make managing directors (MDs), chief administrators (CAs), and chief executive officers (CEOs) of boards, corporations, companies, cooperatives, and autonomous bodies responsible for the reconciliation of funds.They will have to submit a quarterly certificate confirming the verification and reconciliation of funds deposited with banks.ACS Finance and Principal Secretary to the CM Arun Gupta issued the directions on August 13. Had the initiative been taken earlier, the Finance Department would have become aware of the fraud at IDFC First Bank and AU Small Finance Bank, a senior official in the Finance Department’s research wing said.The CEOs, MDs, and chief administrators will now have to ensure that all bank accounts operated by the organisation, including savings, current, term deposit, and flexi accounts, have been reviewed and reconciled. They will also have to ensure that there are no discrepancies as of the date of certification.They will have to confirm that accounts are being opened, maintained, and operated in accordance with the instructions or guidelines issued by the Finance Department from time to time.As per the pro forma certificate to be submitted by the officers, they will have to certify that “the interest offered by the banks at the time of investment in the account/FDR has been credited correctly in the account and the same has been duly verified.”They will also have to certify that “the Bank Reconciliation Statement (BRS) has been prepared and the balances appearing in the accounts tally with the books of accounts/Balance Sheet of the organisation as well as with the balances reflected by the concerned banks.”They will also be responsible for reporting any discrepancies pointed out during an audit.In the bank scam, officials of IDFC First Bank and AU Small Finance Bank allegedly colluded with IAS officers to open bank accounts and then siphoned off funds from eight Haryana government departments and two Chandigarh Administration departments.According to the CBI and ED, the nexus between bank officials and Haryana government officers involved the creation of forged Fixed Deposit Receipts (FDRs), forged RTGS/NEFT request letters, forged debit notes, forged bank communications, and forged bank account statements.Banking records were also manipulated to facilitate the unauthorised and illegal transfer of government funds from accounts maintained with IDFC First Bank and AU Small Finance Bank to shell entities. The funds were then transferred to jewellers and real estate entities.