3 months ago
1
The Reserve Bank of India (RBI) is watching the improvement astir the ₹590 crore fraud astatine IDFC First Bank and determination is nary systemic issue, Governor Sanjay Malhotra said connected Monday (February 23, 2026).
IDFC First Bank had connected Sunday (February 22, 2026) disclosed a ₹590-crore fraud committed by definite employees and others astatine a peculiar subdivision successful Chandigarh successful a circumstantial acceptable of Haryana authorities authorities accounts.
“We are watching the development; determination is nary systemic issue,” Mr. Malhotra told reporters astatine a property briefing aft the customary post-budget code by Finance Minister Nirmala Sitharaman to the Central Board of Directors of the RBI.
IDFC First Bank had said that the fraud is “confined to a circumstantial radical of government-linked accounts wrong the Haryana authorities operated done the said subdivision successful Chandigarh” and stressed that it does not widen to different customers of the Chandigarh branch.
