This follows the bank’s payment of 100% of the principal and interest to the concerned Haryana government departments, amounting to a net Rs 583 crore. The issue came to light on Sunday, when the bank revealed that a Rs 590-crore fraud had been detected involving its employees and others in accounts linked to the Haryana government. The Anti-Corruption Bureau had earlier registered an FIR in the matter, while the Haryana government set up a committee to examine the suspected fraud. What the bank saidThe ban ...

'...even though the investigation in the matter is ongoing, we have paid 100 per cent of the principal and interest to relevant departments of the Haryana government.' Key PointsIDFC First Bank has repaid Rs 583 crore to departments of the Haryana government.The bank had earlier disclosed a Rs 590 crore fraud at its Chandigarh branch.Employees involved have been suspended. IDFC First Bank said on Tuesday that it has paid the entire principal and interest, amounting to Rs 583 crore, to relevant departments o ...

Core Viewpoint - IDFC First Bank is currently embroiled in a significant fraud case involving Rs 590 crore, leading to multiple arrests and calls for further investigation [2][5]. Group 1: Fraud Details - IDFC Bank disclosed a fraud amounting to Rs 590 crore, which was committed by its employees and others in accounts held by the Haryana government [2][5]. - The Haryana State Vigilance and Anti-Corruption Bureau has arrested four individuals in connection with the fraud, including two former employees of IDFC First Bank and two private individuals who own a partnership firm [1][5]. Group 2: Government Response - The Haryana state government has formed a committee to investigate the fraud, and the Anti-Corruption Bureau has registered a First Information Report (FIR) [1][5]. - Chief Minister Nayab Singh Saini stated in the Assembly that the government will take strict action against all individuals involved in the fraud [4][5]. Group 3: Political Reactions - Opposition leaders, including Bhupinder Singh Hooda and Haryana Congress chief Rao Narender Singh, have called for a Central Bureau of Investigation (CBI) probe into the matter [5].

Nifty Bank index began today’s session with a gap-up at 61,175 versus Tuesday’s close of 61,047. It rose after opening and is now at 61,230, up 0.3 per cent.The advance-decline ratio stands at 10-4 now. Canara Bank (up 1.3 per cent) and ICICI Bank (up 0.8 per cent) are the top gainers.At the other end, AU Small Finance Bank (down 0.7 per cent) and IDFC First Bank (down 0.4 per cent) are the top losers.Nifty Private Bank is up nearly 0.4 per cent and Nifty PSU Bank has gained 0.3 per cent. Therefore, the pri ...

IDFC FIRST Bank has repaid 100 per cent of the principal amount claimed by departments of the Government of Haryana following a fraud incident at one of its branches in Chandigarh, the bank said in an official statement.The bank said the incident involved certain accounts of departments of the Government of Haryana, where preliminary findings indicated that certain employees of the branch acted fraudulently in clearing forged instruments and payment instructions, potentially in collusion with external parti ...

A committee formed by the director of the development and panchayats department of Haryana has recommended a police investigation after uncovering alleged forgery and procedural lapses involving officials from both IDFC First Bank and AU Small Finance Bank. This committee was formed on February 11 to inquire into the matter related to IDFC Bank First accounts regarding "mismatch/issues".The findings of this committee have been included in the FIR registered by the State Vigilance Anti-Corruption Bureau, fol ...

In today's trade, shares of IRFC, IDFC First Bank, Alembic Pharma, IRFCGovernment will sell up to 4% stake in VoltasVoltas is expecting air conditioner prices to go up by 5-15% this year owing to increase in copper prices and the rupee weakening against the dollar, Managing Director Mukundan Menon said. The country's leading air-conditioning manufacturer, having a market share of around 18% in the domestic market, expects domestic AC sales to grow by 15-20% in 2026 over last year which turned out to be bad ...

The bank had reported the fraudulent transactions last week. "We did not hold up the payment on account of the matter being under investigation," it said Tuesday, adding that it remains committed to working together with the relevant Haryana government departments and law enforcement agencies to pursue actions against the perpetrators of the fraud and looks forward to recovering the dues. "Even though the investigation in the matter is ongoing, we have paid out 100% of the principal and interest to the rele ...

This refers to the Editorial “Intelligent summit” (February 24). While India has benefited greatly from the AI Impact Summit, its contribution to conducting the deliberations of the 118 participating nations and more than 5 lakh participants, which culminated in the Delhi Declaration endorsed by 88 nations, is equally notable.The structure of the summit built on three guiding Sutras: People, Planet, and Progress and seven operational Chakras reflected India’s conviction that AI must serve developmental goal ...

As per the order dated February 24, 2026, the Governor of Haryana approved the formation of the panel, which will look into all aspects related to the empanelment of the two banks and the decisions taken by concerned departments to deposit substantial government funds with them. According to the order, the committee has been tasked with examining issues relating to non-reconciliation by government departments, as well as identifying any lapses, procedural deficiencies, or systemic failures in connection wi ...