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IDFC First Bank News: The issue came to light after a Haryana government department requested closure of its account and transfer of funds to another bank.

The issue first came to light when a Haryana government department asked the bank to close its account and transfer funds. During this process, the bank noticed a mismatch between its records and the department's figures. This led to a wider internal review.

Private banks face potential deposit pressure after a fraud in Haryana government accounts at IDFC First Bank. Analysts predict a shift of low-cost CASA deposits to public sector banks, impacting their agency commission income. AU Small Finance Bank also saw a decline in Haryana government deposits following de-empanelment.

AU Small Finance Bank (AU SFB), India's largest Small Finance Bank and the first in over a decade to receive in-principle approval to transition into a Universal Bank, has been certified as a Great Place to Work(r) for the sixth consecutive year. The achievement reinforces the Bank's commitment to its core philosophy of Forever Banking, a long-term promise of trust, care, and continuity for all stakeholders.

IDFC First Bank is taking bold steps to bolster the security of significant transactions at its branches. This initiative is in response to a recent inconsistency uncovered in the accounts related to the Haryana government. The bank will soon implement a system mandating digital confirmation from customers for high-value transactions.

Danish brewer Carlsberg is gearing up for a significant move in India. The company is reportedly preparing for a potential listing of its Indian operations. This offering could raise as much as $700 million. Banks have been appointed to advise on the proposed share sale. A filing could happen as early as May.

IDFC First Bank was rocked by a forged cheque fraud at its Chandigarh branch, triggering a sharp market selloff that wiped out over Rs 14,400 crore in shareholder wealth within hours. The issue surfaced on February 18 when Haryana government entities sought to close certain accounts and transfer funds, revealing discrepancies that led to the discovery of internal fraud. Within days, the fallout hit the banks 29 lakh shareholders hard.

IDFC First Bank said it has appointed KPMG to initiate an independent forensic audit in this matter.

MUMBAI: IDFC First Bank said it will stay profitable even after provisioning for Rs 590 crore in fraudulent transactions in Haryana Govt-linked accoun.

IDFC Bank's Rs590-crore fraud linked to staff collusion; bank plans provisions while maintaining strong profitability outlook.