V. Vaidyanathan-led bank reports Rs 55 crore higher fraud payout than estimated; no further claims pending
Parth DSIJ / 10 Mar 2026 / Categories: Mindshare, Trending
V. Vaidyanathan-led IDFC FIRST Bank exceeded its initial fraud estimate by Rs 55 crore, fully reimbursing affected customers. With no new claims and steady deposits, the bank signals financial stability despite short-term stock volatility.
Earlier, the Chandigarh branch reported a fraud incident, with an initial estimate of Rs 590 crore as the principal amount involved. Following claims verification and customer reimbursements, the Bank paid out a net principal amount of Rs 645 crore, exceeding the first estimate by Rs 55 crore. The bank emphasised that these claims were exclusively related to this single incident, and no further claims have been received from any other customers or entities nationwide since February 25, 2026.
The bank gave an update on its financial situation, stating that the total amount of deposits is still steady. As of February 28, 2026, deposits totalled Rs 2,92,381 crore, up from Rs 2,91,133 crore on December 31, 2025. added that the average Liquidity Coverage Ratio (LCR) for the ongoing quarter up to February 28, 2026 stands at a comfortable 114 per cent.
The bank stated that it expects growth in loans and deposits in the future, broadly in line with its historical trends.
IDFC FIRST Bank Share Price
Despite the bank’s assurance that the issue is isolated and fully resolved, the news led to a negative reaction in the stock during the trading session. The IDFC FIRST Bank share price declined on Thursday. As of 10:01 AM IST on March 10, 2026, the stock was trading at Rs 66.39, down Rs 0.37 or 0.55 per cent compared to its previous close of Rs 66.76. The stock opened the session at Rs 66.40 and moved in a range between a high of Rs 67.38 and a low of Rs 65.52 during early trade. The volume-weighted average price (VWAP) stood at Rs 66.33.
Talking about the year-to-date (YTD) performance, shares of IDFC FIRST Bank have declined by 22.54 per cent. However, on a one-year basis, the stock has delivered positive returns, gaining 17.63 per cent during the period.
About IDFC FIRST Bank
IDFC First Bank is a fast-growing, new-age private sector bank, formed by the merger of IDFC Bank and Capital First in 2018. Since 2019, it has expanded its product range, including loans, deposits, and wealth management, and introduced new products like home loans, credit cards, FASTag, etc.
Disclaimer: The article is for informational purposes only and not investment advice.