IDFC First

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

IDFC FIRST Bank launches comprehensive digital learning platform to bridge the financial literacy divide; offers free access to 35 courses across basic to advanced levels

IDFC First Bank on Saturday reported 53 per cent decline in net profit at Rs 339 crore for the third quarter ended December 2024 on increased provisions due to higher slippages of loans. The private sector lender had earned a net profit of Rs 716 crore in the same quarter a year ago. Total income increased to Rs 11,123 crore during the quarter from Rs 9,396 crore in the same period a year ago, IDFC First Bank said in a regulatory filing. Interest income increased to Rs 9,343 crore from Rs 7,879 crore a year ago. On the asset quality front, the bank's gross non-performing assets ratio improved to 1.94 per cent from 2.04 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.52 per cent from 0.68 per cent at the end of the third quarter last fiscal. However, overall provisions, excluding tax doubled to Rs 1,338 crore from Rs 655 crore in the same quarter a year ago. Provisions coverage ratio on non-performing loans was 78.2 per cent as on December 31, 2024. The gr

BFSI Summit: CEOs of prominent private banks say that interest rate hikes are not the key to attracting customers. Instead, the delivery of banking services and brand trust play more significant roles