IDFC First

The Haryana government has dismissed an official of the Development and Panchayat Department from service in connection with the Rs 590 crore IDFC First Bank fraud case. "The government has taken strict action in major financial case by dismissing Naresh Bhuwani, Superintendent in the Development & Panchayats Department, from service. The action has been taken under the provisions of Article 311(2)(b) of the Constitution after a detailed investigation into a criminal conspiracy and the emergence of substantial evidence," an official statement quoting a government spokesperson said on Friday. This decision has been taken in line with the government's zero-tolerance policy towards corruption, it said. The spokesperson said that Chief Minister Nayab Singh Saini had issued strict directions that corruption at any level would not be tolerated and that strict action would be taken against anyone found guilty, regardless of their position. As per the statement, the government ...

Additional payout raises total settlement to ₹645 crore after reconciliation of claims linked to a fraud involving a Haryana government account

IDFC First Bank said it paid ₹645 crore to clients after claims linked to a suspected fraud at its Chandigarh branch, ₹55 crore higher than the initial estimate of ₹590 crore

Haryana Chief Minister Nayab Singh Saini on Tuesday informed the State Assembly that the state government had recovered nearly Rs 556 crore owed to it in the IDFC First Bank case. "Nearly Rs 556 crore, including nearly Rs 22 crore in interest, came back within 24 hours," Saini said in the House. On Sunday, the bank disclosed a Rs 590-crore fraud committed by its employees and others in accounts held by the Haryana government. "I want to clarify before the House that the money concerning Haryana government departments, (the) entire amount has been deposited back into our accounts...The recovery has been made within 24 hours," Saini said. He said the bank had apprised the government that the incident primarily involved a particular branch of the bank in Chandigarh, involving four to five bank employees of middle and lower rung who colluded in the whole thing. The government will ensure that anybody who is involved be it a bank employee, private individual or even a government emplo

A day after IDFC First Bank disclosed a Rs 590-crore fraud involving Haryana government accounts, Chief Minister Nayab Singh Saini on Monday said the state's Anti-Corruption Bureau will conduct an in-depth probe and assured those found guilty will not be spared. Saini said the state government has also decided to form a high-level committee comprising of IAS officers which will also look into the matter and conduct probe. The opposition Congress on Monday raised the issue in the Assembly, with Chief Minister Saini announcing a probe. Saini assured the House that a probe has been ordered and the state's Anti-Corruption Bureau and the vigilance are investigating the matter and will conduct an in-depth investigation. Be it a bank or government employee, anyone who is found involved will not be spared, Saini told the House. Speaking to reporters later at the end of the day's proceedings in the Assembly, Saini said, "We have handed over the matter to Anti-Corruption Bureau and a case h

Large banks to gain post Haryana de-empanelment of IDFC First, AU

IDFC First Bank says the Rs 590 crore fraud at its Chandigarh branch was an isolated case, suspends staff, appoints KPMG for forensic audit, and asserts it has adequate buffers to absorb the impact

IDFC First Bank reported a suspected ₹590 crore fraud in Haryana government accounts, linked to staff at its Chandigarh branch; four employees suspended and KPMG to probe fraud

Stocks to Watch today, February 23, 2026: From IDFC First Bank to Zee Entertainment, here is a list of shares that will be in focus

Affected accounts belong to Haryana govt ; 4 suspended

The interest slabs and rates for higher balance accounts remain unchanged

Both the principal and the interest earned are freely and fully transferable to overseas bank account without any limits or restrictions.

IndiGo and IDFC FIRST Bank have rolled out the IndiGo IDFC FIRST Credit Card, a dual-network offering (Mastercard + RuPay) that promises to turn your everyday spending into free flights.

The bank expects its microfinance stress to ease in the next couple of quarters, after which it plans to grow its book in a measured way, while also putting a proposal to vote at the upcoming AGM

IDFC First Bank chief says not insuring the microfinance portfolio earlier worsened FY25 losses but confirms that 66 per cent of the book is now covered under CGFMU

Shareholders approve fund infusion by Warburg and ADIA but reject proposal allowing Currant Sea Investments to nominate a non-executive director to the bank's board

The special resolution received 64.1 per cent of the votes, falling short of the required 75 per cent threshold for it to pass

IDFC First Bank on Monday said its shareholders have rejected the proposal to allow global private equity firm Warburg Pincus' arm to nominate a non-executive director on the bank board. Last month, IDFC First Bank board had approved a preferential equity issue of about Rs 4,876 crore to Currant Sea Investments BV, an affiliate company of investor Warburg Pincus LLC. Following that, the bank sought shareholders' nod through postal ballot to amend the Articles of Association of the bank. It sought their approval to provide a right to Currant Sea Investments BV(or any of its assignees) to nominate one non-retiring non-executive director by way of a special resolution. As per the results of the postal ballot disclosed to the stock exchanges on Monday, only 64.10 per cent of the votes were in favour of the resolution, while 35.90 per cent were against it. "... The special resolution... has not been passed due to lack of requisite majority," IDFC First Bank said in a BSE filing. Under

Fundraise 4th-largest by an Indian private-sector lender

The entities will invest the funds for a combined 15 per cent stake in the mid-sized private lender which has 971 branches