IDFC Bank Suspends 4 Employees in Chandigarh Fraud, CEO Confirms Involvement

• IDFC Bank suspended four branch-level employees for alleged involvement in a fraud at its Chandigarh branch.
• Employees are accused of taking kickbacks to facilitate the fraud, though the amount is yet to be determined.
• The fraud, uncovered in February 2026, involved a ₹590 crore embezzlement from Haryana government accounts.
• CEO V Vaidyanathan confirmed employee involvement, stating the bank wants to be transparent and pay.
• Despite the investigation, the bank's total deposit balance remains stable at ₹2.92 lakh crore as of February 28, 2026.