IDFC First Bank Shares Tank 20% After A Fraud Surfaced; AU Small Finance Bank Also Fell
- Share.Market
- 3 min read
- Published at : 23 Feb 2026 01:30 PM
- Modified at : 26 Feb 2026 03:39 PM
IDFCFIRSTBShares of IDFC First Bank fell by 20.00% to reach an intraday low of ₹66.80 apiece on Monday, after it disclosed a fraud worth ₹590 crore on Sunday.
As per an exchange filing, the bank received a request from a Haryana Government department for the closure of its account and transfer of its funds to another bank. During this process, discrepancies were observed in the amount mentioned and the account balance. This happened in the bank’s Chandigarh branch.
IDFC First Bank clarified that the sum does not affect its other customers and that the impact may be determined based on the receipt of further information, claims validation, recoveries of any nature, and other aspects, including the legal recovery process. Four suspects have been placed under suspension, pending investigation.
The amount involved in the fraud (₹590 crore) is higher than the net profit of ₹503 crore that the bank reported in the October- December quarter. It has appointed KPMG to initiate an independent forensic audit in this matter.
During a concall, IDFC First Bank’s MD & CEO V Vaidyanathan said that they have never seen an incident like this in the 10 years of the bank’s history and that their systems and controls are in place. He also added that the incident is not a digital but a physical one. He added that he expects the lender’s Net Interest Margins (NIMs) to improve in the fourth quarter.
Let’s take a look at its CRISP Analysis:
AU Small Finance Bank
Au Small Finance Bank also initiated an internal review and some employees have been “put off duty until investigations“, so that the reviews are fair and transparent. This happened after the Haryana Government de-empanelled the bank from government business.
The bank’s board has been informed; however, it maintains that there is no indication of any financial impact or any fraudulent activity.
As of February 17, 2026, the Bank had total deposits of approximately ₹735 Crores from the Government of Haryana, which has reduced to ₹538 crore as of February 21, 2026, across ~200 accounts (~0.4% of the Bank’s overall deposits as on December 31, 2026), post this de-empanelment.
AUBANKThe bank’s shares fell by 7.74% to reach an intraday low of ₹950.00 per share.
Let’s take a look at its CRISP analysis:
