IDFC FIRST Bank Pays ₹583 Crore to Haryana Govt Amid Fraud Probe

Mumbai, February 24, 2026: IDFC FIRST Bank Limited has paid 100% of the principal and interest amounting to ₹583 crore to the relevant departments of the Haryana Government, even as investigations into the underlying fraud matter continue.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through separate filings to the NSE (Symbol: IDFCFIRSTB) and BSE (Scrip Code: 539437).

Bank Takes ‘Customer-First’ Stand

In its official communication, the bank reiterated its commitment to “customer-first” principles, stating that it chose not to withhold payment despite the matter being under investigation.

The bank emphasized that its decision reflects its principle-based approach and institutional DNA, underlining that it gives customers the benefit of doubt in case of differing interpretations.

According to the filing, the Haryana Government departments have acknowledged and appreciated the bank’s “positive approach, professional manner, and speedy and principle-based resolution.”

Investigation Ongoing

While the full payout has been completed, the bank confirmed that it will continue working closely with Haryana Government departments and law enforcement agencies to pursue action against the perpetrators of the fraud and seek recovery of dues.

Strong Financial Position as of December 31, 2025

The bank highlighted its financial strength and operational performance:

AAA rating by CRISIL for Fixed Deposits
AA+ long-term ratings from CRISIL, ICRA, India Ratings, and CARE
Total Customer Business (Loans + Deposits): ₹5,62,090 crore, up 22.6% YoY
Gross NPA: 1.69% | Net NPA: 0.53%
Capital Adequacy Ratio: 16.22%
CASA ratio: ~50%
Net Interest Margin (Q3 FY26): 5.76%

The bank stated that while profitability is currently moderated due to ongoing investments in technology, distribution, rural banking, branches, ATMs, and universal banking capabilities, it expects operating leverage to improve earnings in the coming years.

It further indicated that with the Microfinance (MFI) stress largely behind it, the bank anticipates a strong return to profit growth trajectory from FY27 onwards.

Governance Commitment

In its closing remarks, the bank reaffirmed its commitment to strong governance and ethical standards, stating that it is building a world-class banking institution in India and expects to emerge stronger from the incident.

The disclosure was signed by Satish Gaikwad, General Counsel and Company Secretary of IDFC FIRST Bank.