IDFC FIRST Bank has issued a detailed clarification regarding an alleged financial irregularity identified at one of its branches in Chandigarh. The bank stated that a preliminary investigation indicated that certain branch employees allegedly used forged documents and payment instructions to carry out fraudulent transactions, potentially involving collusion with external parties. The bank said it is fully cooperating with the relevant agencies in the ongoing investigation.
Amid the continuing probe, the bank has paid the full amount of principal and interest claimed by the concerned departments of the Government of Haryana, totalling ₹583 crore. The bank stated that the final amount may be subject to change depending on further adjustments or additional claims. Departments of the Government of Haryana acknowledged the bank’s prompt action, professional conduct and principle-based approach. The bank said strict action will be taken against those found responsible and that all legal procedures will be followed.
The bank shared key financial metrics, stating that it remains financially b and well capitalised. As of December 31, 2025, the bank’s fixed deposits are rated AAA by CRISIL. Its long-term ratings stand at AA+ from CRISIL, ICRA, India Ratings and CARE.
The bank’s total customer business, comprising loans and deposits, stood at ₹5,62,090 crore, reflecting a year-on-year growth of 22.6%. During the same period, gross non-performing assets (GNPA) were 1.69%, net non-performing assets (NNPA) were 0.53%, the capital adequacy ratio was 16.22%, and the CASA ratio was 51.6%. Net interest margin (NIM) for Q3FY26 was 5.76%.
The bank is investing across multiple areas including technology, branches, ATM network, rural banking, corporate banking, cash management, trade finance, NRI services, credit cards and other universal banking solutions. The bank expects that the benefits of these investments will be reflected in profitability from FY27.
The bank stated that these investments are aimed at improving customer experience, strengthening digital banking capabilities and enhancing future profitability.
The bank’s technology architecture is modern and cloud-based, enabling improved customer experience. Its mobile banking application has been ranked second globally by Forrester. The application holds ratings of 4.9 on Google and 4.8 on iOS.
The bank stated that customers can access services quickly through digital platforms and that all transactions are conducted in a secure and transparent manner. The bank said its objective is to provide a convenient and reliable banking experience at every level.
