IDFC First Bank

The State Vigilance and Anti-Corruption Bureau in Haryana on Saturday arrested a state government employee in connection with the Rs 590 crore IDFC First Bank fraud case. Official sources said the employee's role is under the scanner in the fraud case, which rocked the state on Sunday after the private lender disclosed a Rs 590 crore fraud committed by certain employees and others at one of its branches in Chandigarh, targeting state government accounts. The accused employed with the panchayats department was produced before a court in Panchkula, which sent him to six-day police remand, the sources said. On Tuesday, the Anti-Corruption Bureau (ACB) arrested four people, including the alleged masterminds behind the fraud, with a private firm owned by the wife of a former employee emerging at the centre of the financial irregularities. Two of those arrested are former employees of the IDFC First Bank, while the other two are private individuals who ran a partnership firm that alleged

IDFC First Bank said it has refunded 100 per cent of the principal and interest amount claimed by the relevant departments of the Haryana government

Haryana's State Vigilance and Anti-Corruption Bureau has arrested four people in the IDFC First Bank fraud case, officials said on Wednesday. Of the four arrested, two are ex-IDFC First Bank employees and two are private persons who own a partnership firm, they said. The arrests were made on Tuesday evening as part of the ongoing investigation of the IDFC First Bank fraud case, they said. Earlier, the Anti-Corruption Bureau registered an FIR, while the state government constituted a committee to examine the fraud. On Sunday, the IDFC Bank disclosed a Rs 590-crore fraud committed by its employees and others in accounts held by the Haryana government. On Tuesday, Chief Minister Nayab Singh Saini said in the Assembly that the government will spare no one involved in the fraud. Leader of Opposition Bhupinder Singh Hooda and Haryana Congress chief Rao Narender Singh have demanded a CBI probe in the matter.

A committee formed by the director of the development and panchayats department of Haryana has recommended a police investigation after uncovering alleged forgery and procedural lapses involving officials from both IDFC First Bank and AU Small Finance Bank. This committee was formed on February 11 to inquire into the matter related to IDFC Bank First accounts regarding "mismatch/issues". The findings of this committee have been included in the FIR registered by the State Vigilance Anti-Corruption Bureau, following directives from the state government. On Sunday, the IDFC First Bank disclosed a Rs 590-crore fraud committed by its employees and others in accounts held by the Haryana government. The Anti-Corruption Bureau is currently conducting a probe into this matter. An FIR in the matter has been lodged under Section 13 (2) of the Prevention of Corruption Act, and Sections 316(5) (criminal breach of trust) 318(4) (cheating), 336(3) (forgery), 338 (forgery of valuable security), .

IDFC First Bank refunds Rs 583 crore to Haryana government after detecting a Rs 590-crore fraud, engages KPMG for a forensic audit and works with authorities on recovery

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

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RBI Gov says issue not systemic; bank term it an isolated incident

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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

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 identified an incident involving alleged unauthorised and fraudulent activities by certain employees at a branch in Chandigarh

A preliminary internal review indicates that the matter is confined to a specific group of government-linked accounts of the Haryana government operated through the Chandigarh branch

Affected accounts belong to Haryana govt ; 4 suspended

IDFC First Bank on Saturday reported a 48 per cent increase in net profit to Rs 503 crore for the third quarter ended December 2025. The private sector lender had earned a net profit of Rs 339 crore in the same quarter a year ago. Total income increased to Rs 12,542 crore during the quarter from Rs 11,123 crore in the same period a year ago, IDFC First Bank said in a regulatory filing. Interest income increased to Rs 10,417 crore from Rs 9,343 crore in the same quarter a year ago. Net Interest Income (NII) increased to Rs 5,492 crore in the third quarter of FY26 from Rs 4,902 crore in the third quarter of the previous financial year. However, Net Interest Margin (NIM) eased to 5.76 per cent in the quarter from 6.04 per cent recorded in the December quarter of the last year. On the asset quality front, the bank's gross non-performing assets ratio moderated to 1.69 per cent from 1.94 per cent a year ago. However, net NPAs, or bad loans, marginally increased to 0.53 per cent from 0

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The interest slabs and rates for higher balance accounts remain unchanged

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During the weekly expiry session, Nifty witnessed heightened volatility and ended the day at 25,839, down 120 points