IDFC First Bank paid Rs 645-cr 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.

Private sector IDFC First Bank had last month disclosed a Rs 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, the bank said against the initial principal estimate of Rs 590 crore, it has received claims and paid the net principal amount of Rs 645 crore, which is Rs 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 Rs 2,92,381 crore as of February 28, 2026, compared to Rs 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 Rs 67.17, up 0.61 per cent over previous close on BSE.