---
title: "IDFC First Bank probes suspected $65 mln fraud in accounts of government entities"
description: "IDFC First Bank is investigating a suspected $65 million fraud involving local government accounts, having alerted the police. The bank identified discrepancies of 5.9 billion rupees in Haryana state "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276530253.md"
published_at: "2026-02-22T08:22:26.000Z"
---

# IDFC First Bank probes suspected $65 mln fraud in accounts of government entities

> IDFC First Bank is investigating a suspected $65 million fraud involving local government accounts, having alerted the police. The bank identified discrepancies of 5.9 billion rupees in Haryana state government accounts and suspended four employees pending investigation. An independent agency will be appointed to probe the incident, which was discovered when account closure requests revealed mismatched amounts. The bank reported a profit of $55.46 million in the last quarter.

India's IDFC First Bank said it was investigating a suspected fraud of $65 million by some employees involving accounts of local government entities and that the bank had alerted the police.

In a statement to the Bombay Stock Exchange late on Saturday, IDFC First said it had observed discrepancies of 5.9 billion rupees in accounts of some entities of the Haryana state government in the north of the country.

The Mumbai-based midsize private lender said it had suspended four employees of the branch in the city of Chandigarh pending investigation of the "incident involving unauthorized and fraudulent activities".

The bank, which attracted investments from the likes of Warburg Pincus and Abu Dhabi Investment Authority last year, said it would appoint an independent agency to probe the incident and had filed a police complaint.

The Haryana state government and police did not immediately respond to requests for comment on Sunday.

The discrepancies were spotted when the government entities requested the closure of accounts and the amounts claimed by the two sides did not match, the bank said.

IDFC First Bank reported a profit of $55.46 million in the last quarter.

($1 = 90.7010 Indian rupees)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.