New Delhi, March 10 (IANS) IDFC First Bank on Tuesday said it paid Rs 645 crore in claims linked to the fraud at its Chandigarh branch, about Rs 55 crore more than its initial estimate, and confirmed no further discrepancies have been found.
IDFC First Bank said in an exchange filing that “against the initial estimate of principal of Rs 590 crore, the bank has received claims and paid the net principal amount of Rs 645 crore.”
The claims “pertain to the same incident and linked to the same branch and not a new incident,” the statement said, adding that reconciliation of all relevant accounts has been completed and zero claims have been received nationwide since February 25, 2026.
“The bank has made the said payment to the concerned clients In line with our principled approach on this matter of making good the client payments,” it said.
The bank added that it will continue to pursue actions against the perpetrators to recover its dues.
IDFC First Bank said its deposit base remains stable at Rs 2,92,381 crore as of February 28, compared to Rs 2,91,133 crore at the end of December.
“We thank our customers for their understanding that this is an isolated incident linked to one branch in Chandigarh,” it said, adding that the average liquidity coverage ratio is “comfortable” at 114 per cent for the ongoing quarter and said it expects deposit and loan growth to continue broadly in line with past trends.
The bank had earlier reported a fraud of Rs 590 crore in Haryana government accounts involving certain employees and has appointed KPMG for a forensic audit with a final report expected in four‑five weeks. The bank also suspended four officials pending investigation.
The Haryana government de-empanelled IDFC First Bank and AU Small Finance Bank for government business with immediate effect after the incident.
—IANS
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