IDFC First Bank fraud: ₹590 crore cheque scam wipes ₹14,000 crore off market cap
First Bank(US:FRBA) The Economic Times·2026-02-24 09:09IDFC First Bank disclosed a ₹590 crore fraud linked to forged-in cheque transactions at its Chandigarh branch involving Haryana government accounts. The revelation triggered a 20% stock crash, eroding nearly ₹14,000 crore in market value. The bank has suspended officials, ordered a forensic audit, and informed regulators as investigations widen. Show more Show less ...