Mumbai: IDFC FIRST Bank has reaffirmed its commitment to trust and accountability by honouring claims amounting to ₹583 crore in connection with an incident involving certain accounts of departments of the Government of Haryana at one of its Chandigarh branches.
According to preliminary findings, certain branch employees allegedly acted fraudulently in clearing forged instruments and payment instructions, potentially in collusion with external parties. The matter is currently under investigation by the relevant authorities.
Despite the ongoing probe, the Bank has fully honoured 100% of the principal and interest claimed by the concerned Haryana Government departments. The final amount may vary subject to further reconciliation. The departments have formally thanked the Bank for its principled approach, prompt response and professional conduct.
Financially, the Bank remains strong and well-capitalised. As of December 31, 2025, it holds AAA rating from CRISIL for Fixed Deposits and AA+ long-term ratings from CRISIL, ICRA, India Ratings and CARE. Its total customer business stands at ₹5,62,090 crore, with healthy asset quality and robust capital adequacy.
