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IDFC FIRST Bank refers to its recent disclosures regarding an incident at one of its branches in Chandigarh involving certain accounts of departments of the Government of Haryana.
Preliminary findings indicate that certain employees of the branch acted fraudulently in clearing forged instruments and payment instructions, potentially in collusion with external parties. The matter is currently under investigation by the relevant authorities.
Despite the investigation being ongoing, the Bank has immediately honored 100% of the principal and interest claimed by the relevant departments of the Government of Haryana, amounting to ₹583 crore. Final amount may change depending on any further claims or reconciliation.
The concerned departments of the Government of Haryana have thanked and appreciated the Bank’s principled approach, prompt action and professional conduct in addressing the matter.
IDFC FIRST Bank, with the full support of the Haryana Government and the law enforcement agencies is determined to fight the perpetrators of fraud and bring them to justice.
IDFC FIRST Bank is financially strong and well-capitalised. As of December 31, 2025, the Bank is rated AAA by CRISIL for Fixed Deposits and holds AA+ long-term ratings from CRISIL, ICRA, India Ratings and CARE. Its total customer business (loans and deposits) stands at ₹5,62,090 crore, up 22.6% year-on-year. Asset quality is healthy, with GNPA at 1.69% and Net NPA at 0.53%. The Bank’s capital adequacy ratio is 16.22%, and its CASA ratio is 51.6%.
The Bank’s unit economics are strong. Its Net Interest Margin is healthy at 5.76% in Q3FY26. The Bank is in an investment phase and investing in building products, technology, distribution, branches, ATM, Rural Banking, Corporate Banking, Cash Management, Trade, NRI, Credit Cards and other universal banking solutions to be a large, diversified Bank of the future. Over the next few years, we expect the operating leverage from these investments to reflect in the earnings and stronger profits from FY27 onwards.
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The Bank is built on a modern technology architecture and advanced digital infrastructure, which supports superior customer experience. Its mobile banking platform has been ranked No. 2 globally by Forrester, an internationally recognized research firm, and receives high customer ratings of 4.9 on google and 4.8 on iOS.
About the Bank
1. Vision: To build a world-class Bank in India, founded with principles of Ethical, Digital, and Social Good Banking.
2. Scale: IDFC FIRST Bank is one of India’s fast-growing private banks, building its UI, UX, and tech stack like a fintech. As of December 31, 2025, the Bank serves 35 million customers, with a customer business of Rs. 5,62,090 crore ($63.0b) comprising customer deposits of ₹2,82,662 crores ($31.7b) and loans & advances of ₹2,79,428 crores ($31.3b). Customer deposits grew 24.3% YoY and loans 20.9% YoY. We reach over 60,000 cities, towns, and villages, operate through 1,066 branches.
3. Scope: We area universal Bank offering complete range of services, including Retail, MSME, Rural, Startups, Corporate Banking, Cash Management, Credit Cards, Wealth Management, Deposits, Government Banking, Working Capital, Trade Finance, and Treasury solutions.
4. Ethical Banking: We are committed to doing right even when customers are not watching. We have simplified descriptions, calculations, and legal jargon to avoid confusing customers.
5. Digital Banking: The Bank's modern technology stack delivers high-quality services across all channels like mobile, branch, internet banking, call centers and relationship managers. Built on cloud-native, API-led, microservices architecture, supported with data, analytics, AI, and fine aesthetics, we strive to deliver fintech-grade experiences on banking platform.
6. Social Good: We work for society. We have impacted over 40 million lives including 3.6 million women entrepreneurs. We have financed over 7.5 million lifestyle improvement loans (for laptops, washing machines, refrigerators etc. that enhance the quality of life of middle class), 2.5 lakh electric 2W and 3W vehicles, 2.7 lakh water, sanitation, and hygiene loans, 2 million livelihood (cattle) loans, and 300,000+ SMEs. On deposits, we provide access of premium investment research, which is usually reserved for the wealthy, even to those holding balances as low as ₹5,000. Our ESG scores are high and improving.
7. Customer Friendly Banking: We make banking easy by having a customer first approach. We have waived fees on 36 essential savings account services which are commonly charged in the market, the first and only bank in India to do so. We create “pull” products that customers actively seek out.
8. Governance: We adhere to regulatory guidelines in letter and spirit and actively work with regulators to make things better. We take pride in maintaining highest levels of corporate governance.
9. Shareholders: We are building a well-diversified universal banking portfolio designed to deliver consistent ROE of 16%+.
10. Employees: IDFC FIRST Bank is designed to be a happy place to work, with cutting-edge roles, meaningful growth opportunities, and a culture of meritocracy. Compensation is healthy, efforts are recognized, and employees experience the pride and excitement of creating a world-class Bank in India.
