IDFC First Bank uncovered a ₹590 crore fraud in Haryana-linked government accounts, suspending four staff and freezing funds.

IDFC First Bank reported a Rs 590 crore fraud at its Chandigarh branch involving Haryana government-linked accounts, discovered during a fund transfer request that revealed balance discrepancies. The bank suspended four officials, filed a police complaint, and initiated a forensic audit. It is working with other banks to freeze funds via liens and is pursuing legal action. The fraud is limited to a specific group of government accounts and does not affect other customers.