Mumbai: IDFC FIRST Bank has provided an update on the financial impact of an earlier disclosed incident at one of its branches in Chandigarh, confirming that it has settled all claims associated with the matter.
The bank stated that it has received claims and paid a total net principal amount of Rs 645 crore to affected clients. This amount is Rs 55 crore higher than the initial estimate of Rs 590 crore that was previously disclosed. According to the bank, the additional payout reflects incremental claims related to the same incident and the same Chandigarh branch. The bank clarified that the development does not represent a new incident and that no further claims remain pending.
The bank said the payments were made to clients in line with its commitment to address the matter responsibly. While compensating customers, the institution confirmed that it will continue pursuing actions against the perpetrators involved in the incident to recover the dues. Officials also confirmed that reconciliation of all relevant accounts at the Chandigarh branch has now been completed, and no further discrepancies have been identified.
Despite the incident, the bank reported that its deposit base remains stable. Total deposits stood at Rs 2,92,381 crore as of February 28, 2026, compared with Rs 2,91,133 crore as of December 31, 2025. The bank also highlighted that its average Liquidity Coverage Ratio (LCR) for the ongoing quarter until February 28, 2026, stood at 114 percent, indicating comfortable liquidity levels.
The bank indicated that the matter was limited to a single branch and confirmed that no additional claims have been received from any other entity across the country since February 25, 2026. Looking ahead, the institution expects deposits and loan growth to continue broadly in line with past trends.
Disclaimer: This article has been generated solely from the information contained in the provided regulatory disclosure and does not include reporting, verification, or additional information from external sources.
