IDFC First Bank Fraud News: The Rs 590-crore fraud at IDFC First Bank’s Haryana branch was allegedly committed by its employees and external parties in accounts held by the Haryana government with the bank. One of the clients came back with a discrepancy, and that’s how we discovered this,” IDFC Bank MD and CEO V Vaidyanathan said. For individual customers, there is positive confirmation for transactions above Rs 5 lakh, where staff call the customer. Additionally, for high-value transactions above Rs 10 lakh, an additional verifier ensures the transaction is correctly executed. Since the notification came a couple of days back, the bank has seen an outflow of about Rs 200 crore.

Source: Indian Express February 23, 2026 16:42 UTC