IDFC First Bank stock crashes 20%: Share hits lower circuit after Rs 590 crore fraud in Haryana government accounts
IDFC First Bank shares plunged 20% after the bank revealed a Rs 590 crore fraud at its Chandigarh branch involving unauthorized transactions from Haryana government accounts. Four employees have been suspended as an internal investigation and police complaint are underway. The bank is taking steps to recover funds and conduct a forensic audit, assuring other customers remain unaffected.
IDFC First Bank shares plunged 20% after the bank revealed a Rs 590 crore fraud at its Chandigarh branch involving unauthorized transactions from Haryana government accounts. Four employees have been suspended as an internal investigation and police complaint are underway. The bank is taking steps to recover funds and conduct a forensic audit, assuring other customers remain unaffected. What's Your Reaction?
