IDFC First Bank Fraud case: Share price steadies on Tuesday

24 Feb 2026, 11:16 by Sunita · KalingaTV

Mumbai: The IDFC First bank share price tumbled 16% on Monday following the disclosure of a Rs 590 crore fraud that had been detected at its Chandigarh branch. On Tuesday, the IDFC First bank share price have somewhat steadied.

The share price of the bank crashed over 16% after the lender disclosed that a Rs 590 crore fraud had been detected at its Chandigarh branch, involving accounts linked to the Haryana government. This revelation weakened the investor’s resolve and caused the share price to fall.

Fraud-hit IDFC First Bank share price steadies after 16% crash even as brokerages cut target 590 crore. Out of the 590 crore, Rs 490 crore had already been identified through reconciliation. Meanwhile, the additional Rs 100 crore was estimated based on preliminary findings.

Following the announcement of the bank fraud, the Haryana government de-empanelled IDFC First Bank and AU Small Finance Bank from accepting fresh government deposits.

IDFC First Bank Fraud case: Share price steadies on Tuesday

Also Read: IDFC First Bank Shares Slide After Disclosure of ₹590 Crore Fraud at Chandigarh Branch