The company issued a clarification late Sunday, stating it initiated an internal review regarding two accounts in question. The bank further said that both these accounts were “duly opened after completion of all applicable KYC checks and requisite authorisations” and were in accordance with the bank’s internal policies and processes.
The Haryana government also de-empanelled IDFC First Bank after some employees at its Chandigarh branch were involved in fraudulent activities involving Rs 590 crore from accounts linked to the Haryana government. The lender said that four suspected officials have been suspended pending investigation.
Also read: IDFC First Bank discloses Rs 590 crore fraud at Chandigarh branch involving Haryana govt accounts
What led to de-empanelment?
The bank received a communication on February 16, 2026, from a department in the Government of Haryana, seeking account opening and transaction details relating to one specific account opened by the department.
The bank said it has submitted all the requested account-related details.
On February 18, 2026, the bank received a separate communication from the department seeking information regarding suspected unauthorised transactionsbetween the government account and another customer account maintained with the bank.
On the same day, the Finance Department informed the bank of its de‑empanelment for government business in the state of Haryana.
AU SFB share price history
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