New Delhi: IDFC First Bank on Tuesday said it has disbursed Rs 645 crore to settle claims arising from a suspected fraud linked to accounts of entities associated with the Haryana government.
In a regulatory filing with the National Stock Exchange, the private lender said the final payout exceeded its earlier estimated principal amount of Rs 590 crore by Rs 55 crore.
“We would like to share 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. Thus, we would like to share that the incremental principal payout against the claims is Rs 55 crore more than the original estimates,” said IDFC First Bank in a stock exchange filing.
The bank clarified that the revised claims relate to the same incident and that no fresh material claims have been reported.
It also stated that action against employees allegedly involved in the fraudulent activity will continue.
“We would like to confirm that these claims pertain to the same incident and are linked to the same branch and not a new incident. There are no other pending claims. 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. The Bank will continue to pursue actions against the perpetrators to recover our dues,” the lender added.
The lender further said its deposit base has remained steady.
“We would also like to share that the Bank’s total deposit balance continues to remain stable and stood at Rs 2,92,381 crore as of February 28, 2026, compared to Rs 2,91,133 crore as of December 31, 2025. We thank our customers for their understanding that this is an isolated incident linked to one branch in Chandigarh. The average LCR for the ongoing quarter until February 28, 2026, is comfortable at 114%. The Bank anticipates growth in deposits and loans going forward, broadly in line with the past trends,” IDFC First Bank added.
