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IDFC First shares dip 20% on alleged $65 million fraud
Hindustan Times Rajasthan
|February 24, 2026
Shares of India’s IDFC First Bank slumped as much as 20% on Monday, after the private lender disclosed suspected fraud amounting to %590 crore ($65 million) over the weekend, fuelling concerns about the potential impact on its earnings.
The stock fell 16.13% to close at 270.04, a nearly five-month low, and led losses among banks, which gained rose 0.15%. India’s benchmark index ended 0.55% higher. IDFC First Bank, a mid-sized lender, has attracted investments from the likes of Warburg Pincus and Abu Dhabi Investment Authority last year. The Mumbai-based bank has a loan book of 22.79 lakh crore ($30.8 billion) and deposits of 22.82 lakh crore.
This story is from the February 24, 2026 edition of Hindustan Times Rajasthan.
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