
IDFC First Bank Paid Rs 645 Crore Towards Chandigarh Fraud Claims
IDFC First Bank on Tuesday said it has settled fraud claims at a Chandigarh branch at Rs 645 crore and has found no further discrepancies.
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IDFC First Bank on Tuesday said it has settled fraud claims at a Chandigarh branch at Rs 645 crore and has found no further discrepancies.

IDFC First Bank has disclosed a Rs 590 crore fraud involving Haryana government deposits at its Chandigarh branch, leading to the suspension of four employees and the initiation of a forensic audit.

Amid the investigation into the Rs 590-crore fraud at the Chandigarh branch of IDFC FIRST Bank, the bank has said that it has repaid 100 per cent of the principal amount claimed by Haryana government

IDFC First Bank's stock crashed after the bank disclosed a Rs 590 crore fraud involving unauthorized transactions from Haryana government accounts at its Chandigarh branch. The bank stated it's an isolated case and has suspended four employees.