'Probe On, But We Have Paid 100%': IDFC FIRST Bank In 590-Crore Fraud Case

IDFC FIRST Bank has confirmed that it has fully repaid the principal amount of Rs 590 crore, which was allegedly defrauded from various Haryana government departments. This statement comes amidst an ongoing investigation into the fraud case linked to the bank's Chandigarh branch. The bank emphasized its commitment to transparency and accountability, affirming that they have settled all claims made by the affected departments. As the probe continues, the bank aims to restore confidence among its stakeholders and customers, ensuring that such incidents do not recur in the future. The fraud investigation highlights the importance of stringent regulatory measures in the banking sector to protect public funds and maintain trust in financial institutions. IDFC FIRST Bank's proactive approach in addressing the issue indicates its determination to resolve the matter swiftly and uphold its reputation in the competitive banking landscape.