IDFC First Bank transfers Rs 583 crore to Haryana government following fraud incident
India Today
According to a stock market filing, IDFC bank has paid out 100% of the principal and interest to the relevant departments of Haryana Government as claimed, which works out to a net amount of INR 583 crore.
IDFC First Bank has said it has transferred Rs 583 crore to the Haryana government after a fraud was found at its Chandigarh branch. The bank said it has paid 100% of the principal and interest to the concerned government departments, even as the investigation is still going on.
In a regulatory filing dated February 24, 2026, the bank informed the National Stock Exchange and BSE about the payment. It referred to its earlier disclosures made on February 21 and February 22 under Regulation 30 of the SEBI Listing Regulations.
The bank said, “Our Bank always upholds the highest principles and standards. We call ourselves a customer-first bank in the way we define our product policies, disclosures, and no fine print banking. We give benefit of doubt to customers in event of difference of opinion.”
It added, “Now was the occasion to stand up and deliver when it truly matters and put our CUSTOMER FIRST principles in action. We are a principle-based bank, and we mean it. We did not hold up the payment on account of the matter being under investigation. This is the DNA of IDFC FIRST Bank.”
According to the filing, the bank has “paid out 100% of the principal and interest to the relevant departments of Haryana Government as claimed, which works out to a net amount of INR 583 crore.” It also said the departments have thanked and appreciated the bank for its “positive approach, professional manner, and speedy and principle-based resolution.”
IDFC First Bank further said it will continue to work with the Haryana government departments and law enforcement agencies. “The Bank remains committed to working together with the relevant Haryana Government departments and the law enforcement agencies, to pursue actions against the perpetrators of the fraud and look forward to recovering our dues,” it said.
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