- IDFC First Bank believes in duty
- 583 crores refund made from government payment of Rs
- Department of Haryana Government thanked IDFC Bank
IDFC First Bank: IDFC First Bank has further clarified its principled stand regarding the disclosure of an incident at one of its branches in Chandigarh. The said incident is related to the accounts of some departments of the Haryana government and the bank had recently released information about it. According to the preliminary findings, some employees of the branch committed fraud by approving fake documents and payment instructions. There is a possibility of collusion with outsiders in this case and the matter is currently being investigated by the concerned departments.
The bank has promptly paid 100 percent of the principal and interest amount claimed by the concerned departments of the Haryana government, despite the ongoing investigation of the matter. This total amount is Rs 583 crore. The final amount to be paid may be subject to change depending on any future claim or settlement. The concerned departments of the Government of Haryana have appreciated the Bank for the principled approach, prompt action and professional conduct adopted by the Bank in resolving the matter.
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IDFC First Bank is committed to fight against the perpetrators of this fraud and punish them by taking legal action, with full cooperation from Haryana Government and Police as well as investigative agencies. IDFC First Bank is financially sound and has a very sound level of capital. As of 31 December 2025, the bank has been rated ‘AAA’ for fixed deposits by CRISIL, and ‘AA+’ for long-term category by CRISIL, ICRA, India Ratings and CARE.
The bank’s total customer business (loans and deposits) stood at Rs 5,62,090 crore and has grown by 22.6 per cent over the previous year. Bank loan quality is good. ‘Gross NPA’ (GNPA) is 1.69 percent and ‘Net NPA’ (Net NPA) is only 0.53 percent. The bank’s capital adequacy ratio is 16.22 percent, while the ‘Casa’ ratio (ratio of savings and current account deposits) is as high as 51.6 percent. The per-unit economics of the bank are very robust. The bank’s net interest income has been good at 5.76 percent in the third quarter of FY2026.
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The bank is currently in the expansion phase and is investing heavily in services like banking financial planning, technology, branch expansion, ATMs, rural banking, corporate banking, cash management, trade, NRI services and credit cards to become a large and diversified bank in the future. We expect that the benefit of these investments will be reflected in the bank’s earnings in the coming years and the bank will start earning robust profits from FY2027 onwards.
The bank is built on modern technology and advanced digital infrastructure to provide excellent customer service experience. Internationally recognized research institute ‘Forrester’ has rated the bank’s mobile banking platform as the best globally. Also, the app has received a high rating of 4.9 on Google Play Store and 4.8 on iOS by consumers.
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