Debasis Mohapatra
Bengaluru, 22 Feb 2026
Private sector lender, IDFC First Bank in an exchange filing said that a fraud amounting to Rs 590 crore has been found out in its Chandigarh branch, relating to Haryana government.
The bank said that four suspected officials have been placed under suspension pending investigation.
“The Bank will pursue strict disciplinary, civil and criminal action against the employees and other external individuals responsible, in accordance with applicable law,” said the bank in the exchange filing.
According to the bank, the issue came to the surface after the bank received a request from a department of the Haryana government to close its account and transfer funds to another bank. During the process, discrepancies were observed between the amount mentioned and the balance available in the account.
Meanwhile, other Haryana government entities also engaged with the bank regarding their respective accounts from February 18, 2026 onwards. Differences were noted between the balances in the bank’s records and those cited by the entities.
However, the private lender has clarified that the fraudulent activities were confined to a specific group of government-linked accounts within Haryana Government operated through the said branch in Chandigarh and doesn’t extend to other customers of the Chandigarh Branch.
