Swift accountability defined IDFC First Bank’s response to a fraud scandal at its Chandigarh branch: full repayment of ₹583 crore to Haryana government entities, inclusive of interest. Issued Tuesday, the bank’s statement arrives against the backdrop of active investigations, signaling a priority on client relations and candid communication.
Early findings point to rogue staff partnering with third parties to greenlight forged documents, causing losses to public coffers. Law enforcement and officials press on with their scrutiny, prompting the bank’s assurance of rigorous repercussions for wrongdoers.
No holds barred—the payout aligns precisely with state claims, subject only to potential final tweaks. Government spokespersons lauded the move as a gold standard in ethical finance. Bolstering its narrative, the bank detailed peak financial metrics through December 2025: CRISIL’s top-tier fixed deposit rating, consistent double ‘A plus’ long-term scores, and a customer book ballooning to ₹5,62,090 crore with 22.6% growth. This episode, while challenging, ultimately spotlights the institution’s stability and forward momentum.