“The bank will take strict disciplinary, civil and criminal action against the employees and other external persons responsible, in accordance with applicable law,” the lender said in its exchange filing. She has also filed a complaint with the police.As part of its immediate response, the bank has sent recall notices to certain beneficiary banks in an effort to flag balances on accounts identified as suspicious as liens. Furthermore, IDFC First Bank is in the process of appointing an independent third-party agency to conduct a forensic audit to thoroughly investigate the matter.
The irregularities came to light after the Haryana government requested closure of its account and transfer of funds to another bank. During this process, discrepancies were noted between the balance shown in the bank’s records and the amounts reported by government authorities.
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From February 18, 2026, several Haryana government agencies approached the bank regarding their respective accounts, during which further mismatches were discovered.
The bank clarified that the fraudulent activity was limited to a specific set of government-linked accounts managed through the Chandigarh branch and did not affect other customers of the branch.
On Friday, shares of IDFC First Bank closed 0.64% higher at Rs 83.51 on the NSE.
Technical representation: On a technical level, the 14-day Relative Strength Index (RSI) stands at 50.3. An RSI reading below 30 is considered oversold, while a level above 70 indicates overbought conditions.
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