India's IDFC First Bank tanks 20% on suspected $65 mln fraud - Reuters

<a href="https://news.google.com/rss/articles/CBMimwFBVV95cUxOeXVyRGk4cEFnMWRiak9Qd1BvQ1FGdERxbktQdUVxZDZjNEsteGpMTUE0TlJ5TF80UmZTdXNIZHJYblJ0QlRLZS1rakRjZU40TFBMRnB5ZGdSdWY2MXJjcmNQU2hZXzFER3hLNnR3M3IzZk9DQUxDVjBMX1R1Yl9fRHhFcGQzZkQyMHBkSHRVdDdaOENOU3J2c094MA?oc=5" target="_blank">India's IDFC First Bank tanks 20% on suspected $65 mln fraud</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

IDFC First Bank's shares plummeted 20% after revealing fraudulent transactions worth ₹590 crore at its Chandigarh branch, leading to the Haryana government's immediate de-empanelment of the bank from handling state business.

IDFC First Bank's stock fell 20% after detecting a ₹590 crore fraud at its Chandigarh branch, leading to the suspension of four employees and a forensic audit into the matter.

IDFC First Bank's Chandigarh branch was found to have defrauded ₹590 crore from Haryana government accounts, causing a significant drop in the bank's share price and raising concerns about internal controls.

Following the detection of a ₹590 crore fraud at its Chandigarh branch, IDFC First Bank's shares fell 20%, with the Haryana government de-empanelling the bank from handling state business.

IDFC First Bank's stock fell 20% after disclosing a ₹590 crore fraud involving Haryana government accounts, leading to the suspension of four employees and a forensic audit.