IDFC FIRST Bank Latest Updates

Detection and Resolution of Branch Fraud In late February 2026, IDFC FIRST Bank disclosed a fraudulent scheme involving certain employees at its Chandigarh branch, primarily affecting accounts linked to the Haryana Government. The total suspected discrepancy was approximately ₹590 crore. In a swift "customer-first" move, the bank paid ₹583 crore (representing 100% of the principal and interest) back to the relevant government departments while the investigation continues. The bank has suspended four officials, filed police complaints, and appointed KPMG to conduct a forensic audit expected to conclude in early April. Revision in Savings and FD Rates Effective January 9, 2026, the bank realigned its deposit pricing by cutting savings account interest rates by up to 200 bps in certain slabs. The peak savings rate is now capped at 6.5% for balances between ₹10 lakh and ₹10 crore. Meanwhile, as of February 2026, Fixed Deposit (FD) rates remain competitive, offering up to 7.00% for general citizens and 7.50% for senior citizens for tenures of 450 days to 2 years. Operational Milestones and ESG The bank’s customer base has expanded to 35 million, supported by a network of 1,066 branches. Its wealth management business grew by 31% YoY, reaching nearly ₹59,000 crore. On the sustainability front, the bank reported improved ESG scores and highlighted its social impact, including financing over 3.6 million women entrepreneurs and 2.5 lakh electric vehicles to date. Corporate Actions and Capital In October 2025, the bank successfully completed the conversion of Compulsorily Convertible Preference Shares (CCPS) into equity, bolstering its capital position. The Capital Adequacy Ratio stood at a healthy 16.22% as of December 2025. Additionally, the bank paid a final dividend of ₹0.25 per share earlier in the fiscal year (record date July 11, 2025).