RBI sees no systemic risk in Rs 590-crore fraud uncovered by IDFC First Bank

Addressing a joint press conference alongside The private bank discovered fraudulent activity involving approximately IDFC said it has launched an "Based on the preliminary internal review conducted, the matter is confined to a specific group of government-linked accounts within Haryana Government operated through the said branch in Chandigarh and does not extend to other customers of the Chandigarh Branch. The aggregate amount under reconciliation across the identified accounts at the abovementioned Branc ...