IDFCFIRSTB

After an over 16% crash in the previous session, IDFC First bank share price steadied on Tuesday, February 24. The crash yesterday came after the lender disclosed that a ₹590 crore fraud had been detected at its Chandigarh branch, involving accounts linked to the Haryana government. The revelation, made over the weekend, rattled investor confidence and triggered sharp selling in the stock. In intra-day deals today, the scrip fell 2.1% to its day's low of ₹68.56 on BSE. The bank said the total discrepancy stood at ₹590 crore, of which ₹490 crore had already been identified through reconciliation, while an additional ₹100 crore was estimated based on preliminary findings. The disclosure prompted swift action from the Haryana government, which de-empanelled IDFC First Bank and AU Small Finance Bank from accepting fresh government deposits.