5 stories found
Chandigarh Police have arrested hotelier and real-estate developer Vikram Wadhwa in connection with a ₹590-crore fraud linked to IDFC First Bank, after he had been evading arrest since the scam surfaced.
IDFC Bank's Managing Director Vaidyanathan stated that staff collusion was responsible for a fraud involving a Haryana Government account, and the bank will make provisions in line with its policies.
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.
Details have emerged regarding a significant financial fraud amounting to ₹590 crore that unfolded at an IDFC Bank branch.