IDFC First Bank affirms trust with INR 583 Crore Government Payment

IDFC First Bank affirms trust with INR 583 Crore Government Payment
HARYANA GOVERNMENT DEPARTMENT THANKS IDFC FIRST BANK FOR PRINCIPLE-BASED APPROACH MUMBAI: February 25, 2026: IDFC FIRST Bank refers to its recent disclosures regarding an incident at one of its branches in Chandigarh involving certain accounts of departments of the Government of Haryana.

Preliminary findings indicate that certain employees of the branch acted fraudulently in clearing forged instruments and payment instructions, potentially in collusion with external parties. The matter is currently under investigation by the relevant authorities.

Despite the investigation being ongoing, the Bank has immediately honored 100% of the principal and interest claimed by the relevant departments of the Government of Haryana, amounting to ₹583 crore. Final amount may change depending on any further claims or reconciliation.