IDFC First Bank Resolves Fraud Case with Rs 645 Crore Settlement

IDFC First Bank has settled a significant fraud case involving Rs 645 crore within its Chandigarh branch. This comes after disclosing a Rs 590 crore fraud last month. The bank reassures there are no other discrepancies or claims and remains optimistic about its growth trends.

IDFC First Bank announced on Tuesday that it has resolved a major fraud incident at its Chandigarh branch, settling the matter with a Rs 645 crore payment. This settlement follows the recent disclosure of a Rs 590 crore fraud executed by employees and other individuals at the branch.

The settlement exceeds the initially estimated amount by Rs 55 crore, with the bank confirming that this is related to the same incident and reassures that there are no new claims. IDFC First Bank is actively pursuing those responsible for the fraud to recover losses.

The bank stated it has meticulously reconciled all accounts and found no further discrepancies since February 25, 2026. Its total deposit balance was reported stable at Rs 2,92,381 crore by the end of February, and the bank expects a continued growth path similar to past trends. Stock prices of the bank showed a slight increase, trading at Rs 67.17.