IDFC First Bank LtdMajor Fraud Incident

IDFC First Bank disclosed unauthorized fraudulent activities by employees at its Chandigarh branch, affecting Haryana state government accounts. The bank estimates the fraud at Rs 590 crore, has suspended four officials, filed a police complaint, and notified regulators while pursuing recoveries. As a result, shares plunged nearly 19-20% on February 23, 2026, hitting the lower circuit at around Rs 68-70.