IDFC FIRST Bank Settles ₹645 Crore Client Claims Linked to Chandigarh Branch Incident
Mumbai, March 10, 2026 – IDFC FIRST Bank has confirmed that it has paid ₹645 crore to clients in connection with the previously disclosed incident at one of its branches in Chandigarh, exceeding the bank’s initial estimate of ₹590 crore.
In a regulatory filing to the National Stock Exchange of India and BSE Limited, the bank said the final payout represents an additional ₹55 crore in principal claims compared to the earlier estimate.
Claims Linked to Same Incident
The bank clarified that the claims relate to the same previously reported incident at the Chandigarh branch and do not represent any new issue.
According to the filing:
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The bank received claims totaling ₹645 crore and has already paid the entire principal amount to affected clients.
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The incremental payout of ₹55 crore arose after final verification and reconciliation of claims.
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No additional claims are pending, and no other branches across the country have reported similar incidents.
The bank stated that the payments were made in line with its “principled approach” to ensure customers receive their due amounts promptly.
Investigation and Recovery Efforts
IDFC FIRST Bank added that it will continue pursuing legal and recovery actions against the perpetrators involved in the incident to recover the losses.
The bank has also completed reconciliation of all relevant accounts at the Chandigarh branch, confirming that no further discrepancies were found after the review.
Deposits Remain Stable
Despite the incident, the bank said its overall deposit base remains stable.
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Total deposits as of February 28, 2026: ₹2,92,381 crore
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Total deposits as of December 31, 2025: ₹2,91,133 crore
The bank noted that deposit balances have remained resilient, reflecting continued customer confidence.
Liquidity Position Remains Comfortable
The bank also reported a strong liquidity position, with an average Liquidity Coverage Ratio (LCR) of 114% for the ongoing quarter up to February 28, 2026.
The Liquidity Coverage Ratio (LCR) measures a bank’s ability to withstand short-term liquidity disruptions by maintaining adequate high-quality liquid assets.
Outlook
IDFC FIRST Bank said it expects future growth in deposits and loans to continue broadly in line with past trends, indicating that the isolated incident has not materially affected the bank’s broader operations.
The lender also thanked its customers for their understanding and reiterated that the matter was restricted to a single branch in Chandigarh.