IDFC FIRST Bank has provided an update regarding the previously disclosed incident at a Chandigarh branch. The bank confirmed an incremental principal payout of ₹55 crore against claims, bringing the total net principal paid to ₹645 crore against an initial estimate of ₹590 crore. The bank stressed that all claims are settled, reconciliation is complete, and deposit balances remain stable at ₹2,92,381 crore as of February 28, 2026.
Resolution of Chandigarh Branch Claims
IDFC FIRST Bank has provided an update following earlier disclosures concerning an incident at a single branch in Chandigarh. The bank has completed the necessary payouts related to the matter. Against an initial estimated principal of ₹590 crore, the Bank has confirmed receiving claims and subsequently paying a net principal amount totaling ₹645 crore. This resulted in an incremental principal payout of ₹55 crore more than the original estimates.
The Bank explicitly confirms that all these claims pertain to the same isolated incident linked to that specific branch, and there are no new or other pending claims. This payment was executed in line with the Bank’s commitment to making good client payments, and the Bank intends to pursue recovery actions against the perpetrators.
Branch Reconciliation and Stability
Further to the remediation efforts, the Bank confirms the completion of reconciliation of all relevant accounts in the Chandigarh branch, with no further discrepancies noted. Importantly, no other claims have been received from any other entity across the country since February 25, 2026.
Deposit Performance and Liquidity
The Bank highlighted its strong underlying stability despite the event. The total deposit balance stood robustly at ₹2,92,381 crore as of February 28, 2026, showing growth from ₹2,91,133 crore recorded as of December 31, 2025. The average Liquidity Coverage Ratio (LCR) for the current quarter up to February 28, 2026, remains healthy and comfortable at 114%. The Bank anticipates that growth in both deposits and loans will continue moving forward, consistent with historical trends.
The communication, dated March 10, 2026, concludes by thanking customers for their understanding regarding this isolated event.
Source: BSE
