Chandigarh, Feb 24 (IANS) Haryana Chief Minister Nayab Singh Saini on Tuesday informed the Assembly that the entire money in the fraud involving state government accounts at the Chandigarh branch of IDFC First Bank has been returned to the government’s accounts.“A total of Rs 556 crore, including Rs 22 crore of interest, was returned to the government account within 24 hours,” he said.The Chief Minister said the involvement of four-five employees of the bank’s Chandigarh branch has been re…
Latest IDFC First Bank News & Updates
Chandigarh, Feb 24 (IANS) The Haryana Vigilance and Anti-Corruption Bureau has registered an FIR in the Rs 590-crore fraud involving Haryana government accounts at the Chandigarh branch of IDFC First Bank and AU Small Finance Bank, a government official said on Tuesday. The case has been filed against bank officials, public servants and other individuals under Section 13 (2) of the Prevention of Corruption Act and Sections 316 (5), 318 (4), 336 (3), 338, 340 (2) and 61 (2) of the Bharatiya Nyaya…
New Delhi, Feb 23 (IANS) The Reserve Bank of India (RBI) on Monday said there is no systemic risk to the banking system and stressed that the Central Bank does not comment on individual banks or regulated entities, as IDFC First Bank revealed the Rs 590-crore fraud at its Chandigarh branch.Addressing a joint press conference after a meeting of the RBI’s central board of directors in the national capital, RBI Governor Sanjay Malhotra said the regulator is closely monitoring the situation but th…
Mumbai, Feb 23 (IANS) Shares of IDFC First Bank hit the 20 per cent lower circuit on Monday after the lender reported fraudulent transactions worth about Rs 590 crore, allegedly committed by its employees at its Chandigarh branch.The stock fell to Rs 66.85, its intra-day low, down 20 per cent. The shares opened 10 per cent lower and later extended their losses. At 10:33 am, shares were trading at Rs 70.10, down 16.06 per cent on the day.The bank said the matter is confined to a set of Haryana go…
New Delhi, Feb 22 (IANS) The Haryana Government on Sunday de-empanelled IDFC First Bank and AU Small Finance Bank from handling government business with immediate effect after an alleged fraud of around Rs 590 crore came to light.In an official circular, the state government said both banks have been barred from carrying out any government-related transactions in Haryana until further orders.It directed all departments, boards, corporations and public sector undertakings to stop using these bank…
New Delhi, Feb 22 (IANS) IDFC First Bank on Sunday disclosed a Rs 590 crore fraud at its Chandigarh branch involving Haryana government accounts, saying four suspected officials have been placed under suspension pending investigation.The Bank said in an exchange filing that it will pursue strict disciplinary, civil and criminal action against the employees and other external individuals responsible, in accordance with applicable law.The filing said that some employees at IDFC First Bank’s Chan…
New Delhi, Dec 24 (IANS) The number of deals in the banking, financial services and insurance (BFSI) space rose threefold in CY 25, a report said on Wednesday.The report from financial services firm Equirus Capital said that the year saw 30 deals compared to 10 deals in 2024, with banks and non‑bank financial companies accounting for mergers, acquisitions and strategic deals worth Rs 42,939 crore.Other BFSI segments recorded deals worth Rs 43,014 crore, it added.The firm highlighted that NBFCs…