Chandigarh: Settled Rs 645-crore claims: IDFC First Bank

A day after the registration of an FIR in the alleged fraud of over Rs 116 crore against some officials of the bank and an outsourced employee of the Municipal Corporation Chandigarh, IDFC First Bank on Tuesday claimed it had already settled the client claims and completed reconciliation, with no further discrepancies.

A spokesperson of the bank, referring to the update and disclosures submitted to the NSE, said against the initial estimate of a principal amount of Rs 590 crore, the bank had received claims and paid a net principal amount of Rs 645 crore.

Thus, the incremental principal payout against the claims was Rs 55 crore more than the original estimate. The bank clarified that these claims pertained to the same incident and were linked to the same branch, and that this was not a new incident.

There were no other pending claims. The bank said it had made payments to the clients concerned in line with its principled approach of making good the client dues. It added that it would continue to pursue action against the perpetrators to recover its dues. The bank had completed reconciliation of all relevant accounts in the Chandigarh branch, and no further discrepancy had been noted. No other claims had been received from any entity across the country since February 25, 2026.

The spokesperson added that the bank’s total deposit balance remained stable, standing at Rs 2,92,381 crore as of February 28, 2026, compared to Rs 2,91,133 crore as of December 31, 2025.