IDFC FIRST Bank Pays ₹645 Crore to Clients Over Chandigarh Branch Incident

IDFC FIRST Bank has settled client claims related to an incident at one of its branches in Chandigarh. The bank confirmed that it has paid a total net principal amount of ₹645 crore to affected clients. This amount is higher than the earlier estimated principal payout of ₹590 crore, resulting in an additional payout of ₹55 crore.

According to the bank, all the claims are linked to the same incident involving the Chandigarh branch and do not represent any new issue.

Clarification on the Incident

The bank clarified that the claims settled were related to the previously disclosed matter concerning the specific branch. It emphasised that this is an isolated incident and not linked to any other branch or event within the organisation.

The bank also confirmed that there are no other pending claims related to this matter. After completing reconciliation of all relevant accounts at the Chandigarh branch, no further discrepancies were identified.

Action Against Perpetrators

IDFC FIRST Bank stated that the payments to clients were made in line with its principled approach of protecting customer interests and ensuring that affected customers receive their dues.

At the same time, the bank said it will continue pursuing legal and recovery actions against the individuals responsible for the incident to recover the amount paid to customers.

Deposits and Liquidity Position

Despite the incident, the bank said its overall deposit base remains stable. The total deposit balance stood at ₹2,92,381 crore as of February 28, 2026, compared with ₹2,91,133 crore as of December 31, 2025.

In addition, the bank reported that its average Liquidity Coverage Ratio (LCR) for the ongoing quarter until February 28, 2026, remains comfortable at 114%. The bank expects deposits and loan growth to continue broadly in line with past trends.

IDFC FIRST Bank Share Price Today

On March 10, 2026, IDFC FIRST Bank share price opened at ₹66.40, touching the day’s low at ₹65.52, as of 12:20 PM on the NSE.

Also Read: IDFC First Bank CEO Vows Action After ₹590 Crore Fraud!

Conclusion

IDFC FIRST Bank’s settlement of client claims linked to the Chandigarh branch incident reflects its effort to maintain customer trust and transparency. With the matter reconciled and no additional claims reported, the bank remains focused on operational stability while pursuing recovery actions against those responsible.

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