Pushpender Singh, the deputy vice-president of Kotak Mahindra Bank, was arrested by Haryana's State Vigilance and Anti-Corruption Bureau in connection with a ₹150-crore scam involving the Panchkula Municipal Corporation. Singh, who previously served as the branch manager, is accused of colluding with Vikas Kaushik, an ex-senior accounts officer, to open fraudulent accounts for the municipality. These accounts were allegedly used to prematurely liquidate fixed deposits, with the funds transferred to other accused individuals. The Panchkula municipal commissioner reported significant discrepancies in the municipality's financial records, prompting the investigation. Earlier, five individuals, including a relationship manager at the bank, were arrested for their roles in the scam. The vigilance bureau has filed an FIR against unnamed bank officials and others involved in the conspiracy.