Coverage
IDFC FIRST Bank
IDFC FIRST Bank Q1 FY27 profit jumps 132.4% to ₹1,075 Cr, stock hits 52-week high
Record earnings and shrinking bad loans pushed shares up nearly 10% to ₹88.76, even as the board cleared a ₹20,000 Cr capital raise to fund further growth.
CBI raids five locations in ₹657 crore IDFC FIRST Bank treasury fraud
Investigators are pursuing beneficiaries and officials linked to alleged siphoning of government treasury funds from a single private bank branch in Chandigarh and Ludhiana.
Visa launches passkey authentication in India; IDFC FIRST Bank first issuer to adopt
Card payments can now be verified with Face ID, fingerprint, or device PIN instead of an SMS OTP, as Visa moves to device-based authentication in India.
KPMG audit clears IDFC FIRST Bank's systems in ₹646 Cr fraud case
The forensic review confirms the Chandigarh branch fraud was isolated, driven by employee collusion rather than systemic weakness. The bank has repaid the full amount to its government customer.
ED arrests real estate businessman in ₹645 crore embezzlement case tied to banks
Vikram Wadhwa arrested under PMLA over alleged siphoning of public funds from IDFC FIRST Bank accounts. Investigators trace ₹70 crore diverted to his personal accounts through shell companies and jewelers.
IDFC FIRST Bank writes back microfinance provisions after CGFMU insurance payout
The bank's early adoption of the Credit Guarantee Fund for Micro Units scheme triggered a full provision reversal, bolstering bottom-line profits and freeing capital for retail lending.
ED arrests two IDFC First Bank managers in ₹645 Cr embezzlement probe
The Enforcement Directorate has arrested former employees of IDFC First Bank's Chandigarh branch in connection with alleged large-scale fund siphoning through shell entities. A Special PMLA Court has remanded both to ED custody.
IDFC First Bank shares fall 10% after ₹590 Cr fraud at Chandigarh branch
A major control breach at a single branch has raised questions about whether rapid private bank growth is outpacing risk management infrastructure.
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