IDFC First Bank: completed reconciliation of relevant accounts

IDFC First Bank has completed the reconciliation of all relevant accounts at its Chandigarh branch following a suspected fraud incident, with no further discrepancies identified according to reports. The bank disclosed on March 10, 2026, that it has paid a net principal amount of ₹645 crore to settle claims arising from the incident, exceeding its initial estimate of ₹590 crore by ₹55 crore. These payments pertain to the same incident linked to the Chandigarh branch and do not reflect new developments.

The bank emphasized that its decision to settle claims aligns with its commitment to rectify client payments and that no other pending claims exist. It also confirmed that no additional claims have been received nationwide since February 25, 2026. Despite the incident, the bank reported stable operations, with total deposits remaining unchanged at ₹2,92,381 crore as of February 28, 2026, compared to ₹2,91,133 crore as of December 31, 2025.

Liquidity metrics remain robust, with an average Liquidity Coverage Ratio (LCR) of 114% for the ongoing quarter. The bank anticipates continued growth in deposits and loans, in line with historical trends. Legal actions against those responsible for the fraud are ongoing to recover dues.

This resolution marks a step toward stabilizing investor confidence, though the incident underscores systemic risks in branch-level operations for mid-sized lenders.