IDFC First Bank Discloses Rs 590 Crore Fraud at Chandigarh Branch Involving Government Accounts.
AI Summary1 min read
TL;DR
IDFC First Bank reported a Rs 590 crore fraud at its Chandigarh branch linked to government accounts. Four officials are suspended, and an audit is underway, with legal actions planned.
IDFC First Bank disclosed a Rs 590 crore fraud at a Chandigarh branch involving government accounts. Four suspected officials have been suspended pending investigation, and the bank is conducting an independent forensic audit. Strict disciplinary, civil, and criminal actions will be taken against the responsible employees and external individuals.
