IDFC First Bank informs about disclosure

IDFC First Bank Ltd. | Bank - Private | BFSI | BSE: 539437 | NSE: IDFCFIRSTB

06 Jun 2026 Evaluate

IDFC First Bank has informed that the Bank has received the Forensic Review Report from KPMG today. The Board of Directors of the Bank, at its meeting held today, took note of the findings set out in the aforesaid report. The management comments are set out below: The findings reaffirm that the Incident involved fraudulent activities linked to the aforesaid Branch, arising from collusion involving certain employees/ ex-employees of the Bank at the said Branch, certain employees of customers (i.e. departments of the State Governments) and some third parties; This was an isolated incident involving one branch of the Bank and such incidents have not been observed at any of the Bank's other branches; The net principal amount of ~? 646 crore quantified in the Forensic Report is in line with the Bank’s previous disclosures; The Bank paid the aforesaid amount and applicable interest to the concerned departments and has recognised the same in the books of accounts in Q4FY26. The Bank is a victim of this financial fraud and is working with investigative authorities; The records in the Core Banking System (CBS) of the Bank were accurate. Customers were provided with monthly account statements reflecting their balances and transactions, and were notified, where applicable as per process, through SMS alerts regarding transactions in their accounts; Post the Incident, the Bank sent physical and/or email statements reflecting closing balances as of February 28, 2026, to all relevant government and TASC (Trust, Association, Societies & Clubs) account holders across India. No discrepancies or claims have been received from any other customers; The Bank has implemented additional preventive controls to strengthen oversight, particularly collusion risk at the Branch level. These additional measures include, inter alia, implementation of oversight processes by a centralized team in addition to branch-level authorization, enhanced customer communication processes, and other technologyled system controls. The additional measures implemented pursuant to the Incident, will significantly enhance the control framework and help the Bank grow on stronger foundations, and pursue its vision to build a world-class bank in India. The Board Meeting commenced at 06:00 pm and concluded at 07:45 pm.

The above information is a part of company’s filings submitted to BSE..

IDFC First Bank Share Price

73.69 2.29 (3.21%)

09-Jun-2026 14:55 View Price Chart

Peers

Company Name	CMP
HDFC Bank	739.90
ICICI Bank	1278.90
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Indusind Bank	927.00
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