The troubles for IDFC First Bank don’t seem to end. Close on the heels of the bank paying Rs 645 crore to settle client claims linked to a suspected fraud in Haryana Branch, ANI reported that Chandigarh Police received a complaint regarding fake FDs worth Rs 116.84 crore.
Haryana Branch Fraud case
On to the suspected fraud in the Haryana Brand first- The BSE release indicated Rs 645 crore settlement. This amount is Rs 55 crore higher than the earlier estimated payout of Rs 590 crore by the bank.
“Against the initial estimate of principal of Rs 590 crore, the Bank has received claims and paid the net principal amount of Rs 645 crore. Thus, we would like to share that the incremental principal payout against the claims is Rs 55 crores more than the original estimates,” IDFC First Bank said in its regulatory filing.
IDFC First Bank’s Haryana Case: Payout higher than initial estimate
The Bank in its latest statement to the exchanges clarified that all the claims are related to the same incident at the Chandigarh branch and do not indicate any fresh issue.
“We would like to confirm that these claims pertain to the same incident and linked to the same branch and not a new incident. There are no other pending claims,” the bank said.
The Bank added that it has compensated the affected clients and it will continue to take action against those responsible for the incident to recover the money.
IDFC First Bank also said that it has completed reconciliation of all relevant accounts at the Chandigarh branch and found no further discrepancies. It added that no other claims have been received from any entity across the country since February 25.
IDFC First Bank: Rs 583 crore returned to Haryana govt
The incident came to light in February when IDFC First Bank disclosed a Rs 590 crore fraud at its Chandigarh branch after some departments of the Government of Haryana asked the bank to close their accounts and transfer the funds to another bank. During the process, bank officials found a mismatch between the actual balance and the bank’s records.
Just days later, the bank deposited back Rs 583 crore — covering 100% of the principal and interest — to the relevant departments of the Haryana government.
Fake FDs worth Rs 116.84 crore flagged in IDFC First Bank
Meanwhile more trouble for the bank brewing ahead – According to another report by ANI Chandigarh Police has received a complaint regarding fake FDs worth Rs 116.84 crore issued by a IDFC First Bank manager.
ANI in its X post reported that the complaint is from the Municipal Corporation Chandigarh regarding funds transferred from Chandigarh Smart City to the civic body. In order to transfer the funds a dedicated account was opened in IDFC First Bank and fixed deposit receipts (FDRs) were issued by a bank manager.
However, during verification, it was found that these FDs were fake. Following the complaint, an FIR has been registered, and Chandigarh Police is investigating the possible involvement of bank officials and Municipal Corporation Chandigarh employees.
Deposits steady at Rs 2.92 lakh crore: IDFC First Bank
The bank meanwhile reassured investors and said its deposit base remains stable despite the incident.
Total deposits stood at Rs 2,92,381 crore as of February 28, 2026, compared with Rs 2,91,133 crore as of December 31, 2025.
The lender said its liquidity position remains comfortable. The average Liquidity Coverage Ratio (LCR) for the ongoing quarter until February 28, 2026 stood at 114%.
The bank also said it expects deposit and loan growth to continue broadly in line with past trends.
IDFC First Bank share price
The share price of IDFC First Bank has declined 20.29% in past one month.