IDFC First Bank Fraud: Shares of IDFC First Bank plunged up to 20% after the bank disclosed a ₹590 crore fraud linked to its Chandigarh branch involving Haryana government-related accounts. The stock hit lower circuit amid panic selling despite strong Q3FY26 results. The bank has suspended employees, initiated a forensic audit, and informed regulators. Analysts warn of governance concerns and potential impact on FY26 profits and capital ratios.
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