IDFC First Bank paid ₹645 crore towards Chandigarh fraud claims

IDFC First Bank on Tuesday (March 10, 2026) said it has settled fraud claims at a Chandigarh branch at ₹645 crore and has found no further discrepancies.

Private sector IDFC First Bank had last month disclosed a ₹590 crore fraud committed by certain employees and others at a particular branch in Chandigarh in a specific set of Haryana State Government accounts.

In a regulatory filing on Tuesday (March 10), the bank said against the initial principal estimate of ₹590 crore, it has received claims and paid the net principal amount of ₹645 crore, which is ₹55 crore more than the original estimates.

“These claims pertain to the same incident and linked to the same branch and not a new incident. There are no other pending claims,” IDFC First said, adding that it would continue to pursue actions against the perpetrators to recover the dues.

The Bank further said that it has completed reconciliation of all relevant accounts and did not notice any further discrepancies.

“No other claims have been received from the said Chandigarh branch, from any other entity across the country since February 25, 2026,” it added.

IDFC First said the bank’s total deposit balance continued to remain stable and stood at ₹2,92,381 crore as of February 28, 2026, compared to ₹2,91,133 crore as of December 31, 2025.

The bank anticipates growth in deposits and loans going forward, broadly in line with the past trends, the bank said.

Shares of IDFC First Bank were trading at ₹67.17, up 0.61% over previous close on BSE.