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The incident relates to a fraud detected in February 2026 at its Chandigarh branch involving unauthorised transactions in certain Haryana government-linked accounts, with an initial discrepancy of around Rs 590 crore. The issue was linked to alleged collusion by some employees and external entities and was confined to a specific set of accounts. The bank said it has completed reconciliation and settled claims, with no further discrepancies identified.
The bank reported a tax credit of Rs 129.64 crore in Q4 FY26, compared with a tax expense of Rs 132.50 crore in Q3 FY26 and Rs 57.06 crore in Q4 FY25, which partly cushioned the impact of one-off charges on reported profit.
Net interest income (NII), the difference between interest earned and interest expended, rose 15.7% YoY to Rs 5,677 crore in Q4 FY26 from Rs 4,907 crore in the year-ago period.
Core operating profit (excluding trading income) declined 7.8% YoY to Rs 1,492 crore, while net interest margin (NIM) stood at 5.93% in Q4 FY26, down 2 bps on a yearly basis but up 18 bps sequentially. The cost of funds improved to 6.00%, down 51 bps YoY and down 11 bps QoQ.
Asset quality improved during the quarter. Gross NPAs stood at Rs 4,558.52 crore as of March 2026, compared with Rs 4,614.14 crore in December 2025 and Rs 4,433.58 crore a year ago.
The gross NPA ratio declined to 1.61% as on March 2026 as against 1.69% as on December 2025 and 1.87% as on March 2025.
Net NPAs came in at 0.48%, improving from 0.53% in both the previous quarter and the same period last year. SMA 1 and 2 (retail, rural and MSME) also improved to 0.78%, indicating better early-stage asset quality trends.
Provisions and contingencies declined sharply by 40.07% YoY to Rs 869.24 crore. Provisions as a percentage of loans fell to 1.63% in Q4 FY26 from 2.05% in Q3 FY26, while provisions as a percentage of total assets declined to 1.18% in Q4 FY26 from 1.45% in Q3 FY26. The bank also utilised Rs 35 crore of contingency provisions on its microfinance portfolio during the quarter and carries forward Rs 130 crore into FY27.
On the business front, total customer deposits rose 17.3% YoY to Rs 2,84,453 crore. CASA deposits increased 24.0% YoY to Rs 1,46,650 crore, while the CASA ratio stood at 49.80%. Advances grew 20.0% YoY to Rs 2,90,278 crore, with 87% of loan growth driven by mortgages, vehicle loans, consumer loans, business banking and wholesale segments.
Total customer business increased 18.6% YoY to Rs 5,74,731 crore. The bank’s credit cards in force crossed 4.5 million during the quarter, while its wealth management business grew 23% YoY to over Rs 57,000 crore.
Capital adequacy ratio stood at 15.60% as of March 2026, remaining comfortably above regulatory requirements.
Commenting on the performance, MD and CEO V. Vaidyanathan said asset quality remains stable, with stress largely behind in the microfinance portfolio. He added that provisions have declined to the lowest level in two years and the bank has started FY27 on a strong footing in terms of deposit growth.
The board recommended a dividend of Rs 0.25 per equity share of face value of Rs 10 each for the Financial Year 2025-26.
IDFC FIRST Bank is one of India’s fast-growing private banks. As of 31 March 2026, it reached over 60,000 cities, towns, and villages, operate through 1,147 branches.
For the full year,net profit rose 8.07% to Rs 1610.56 crore in the year ended March 2026 as against Rs 1490.35 crore during the previous year ended March 2025. Total Operating Income rose 11.09% to Rs 40548.82 crore in the year ended March 2026 as against Rs 36501.64 crore during the previous year ended March 2025.
Shares of IDFC First Bank fell 0.88% to settle at Rs 67.23 on Friday, 24 April 2026.
IDFC First Bank Ltd is up for a fifth straight session today. The stock is quoting at Rs 64.95, up 6.14% on the day as on 12:39 IST on the NSE. The benchmark NIFTY is up around 3.46% on the day, quoting at 23923.45. The Sensex is at 77391.97, up 3.72%. IDFC First Bank Ltd has slipped around 2.71% in last one month.
Meanwhile, Nifty Bank index of which IDFC First Bank Ltd is a constituent, has slipped around 1.23% in last one month and is currently quoting at 52716.25, up 4.96% on the day. The volume in the stock stood at 282.81 lakh shares today, compared to the daily average of 372.42 lakh shares in last one month.
The benchmark April futures contract for the stock is quoting at Rs 65.48, up 6.52% on the day. IDFC First Bank Ltd is up 9.62% in last one year as compared to a 6.81% jump in NIFTY and a 10.13% jump in the Nifty Bank index.
The PE of the stock is 32.4 based on TTM earnings ending December 25.
UPL Ltd, Godfrey Phillips India Ltd, Swan Corp Ltd and 63 Moons Technologies Ltd are among the other losers in the BSE's 'A' group today, 23 February 2026.
IDFC First Bank Ltd crashed 16.34% to Rs 69.91 at 14:45 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 324.8 lakh shares were traded on the counter so far as against the average daily volumes of 15.23 lakh shares in the past one month.
UPL Ltd tumbled 14.85% to Rs 640.15. The stock was the second biggest loser in 'A' group.On the BSE, 11.02 lakh shares were traded on the counter so far as against the average daily volumes of 58346 shares in the past one month.
Godfrey Phillips India Ltd lost 12.00% to Rs 2192. The stock was the third biggest loser in 'A' group.On the BSE, 2.14 lakh shares were traded on the counter so far as against the average daily volumes of 1.57 lakh shares in the past one month.
Swan Corp Ltd plummeted 6.75% to Rs 379.5. The stock was the fourth biggest loser in 'A' group.On the BSE, 1.38 lakh shares were traded on the counter so far as against the average daily volumes of 38621 shares in the past one month.
63 Moons Technologies Ltd corrected 6.71% to Rs 598.75. The stock was the fifth biggest loser in 'A' group.On the BSE, 11852 shares were traded on the counter so far as against the average daily volumes of 10701 shares in the past one month.
UPL Ltd, BLS International Services Ltd, CCL Products (India) Ltd, Aegis Vopak Terminals Ltd are among the other stocks to see a surge in volumes on NSE today, 23 February 2026.
IDFC First Bank Ltd registered volume of 5780.25 lakh shares by 14:14 IST on NSE, a 31.69 fold spurt over two-week average daily volume of 182.40 lakh shares. The stock slipped 15.99% to Rs.70.16. Volumes stood at 119.75 lakh shares in the last session.
UPL Ltd saw volume of 187.49 lakh shares by 14:14 IST on NSE, a 12.4 fold spurt over two-week average daily volume of 15.12 lakh shares. The stock dropped 14.96% to Rs.639.80. Volumes stood at 24 lakh shares in the last session.
BLS International Services Ltd witnessed volume of 198.79 lakh shares by 14:14 IST on NSE, a 11.91 times surge over two-week average daily volume of 16.69 lakh shares. The stock increased 7.49% to Rs.288.50. Volumes stood at 13.08 lakh shares in the last session.
CCL Products (India) Ltd registered volume of 20.53 lakh shares by 14:14 IST on NSE, a 8.17 fold spurt over two-week average daily volume of 2.51 lakh shares. The stock rose 5.30% to Rs.1,046.70. Volumes stood at 3.38 lakh shares in the last session.
Aegis Vopak Terminals Ltd recorded volume of 44.45 lakh shares by 14:14 IST on NSE, a 7.03 times surge over two-week average daily volume of 6.33 lakh shares. The stock gained 9.47% to Rs.230.74. Volumes stood at 7.36 lakh shares in the last session.
In a regulatory filing made on Sunday, the private sector bank said that based on a preliminary internal assessment (upon receipt of communication from a particular Department of Government of Haryana), the bank has identified an incident involving unauthorized and fraudulent activities by certain employees at a particular branch in Chandigarh and potentially involving other counterparties.
Detailing the events that led to the aforementioned discover, the bank stated that it had received a request from a particular Department of Haryana Government for closure of its account and transfer of funds to another bank. In the process, certain discrepancies were observed in the amount mentioned vis-à-vis the balance in the account.
From 18 February 2026 onwards, certain other Haryana Government entities engaged with the Bank with regard to their respective accounts with the bank.
During this process, differences were observed between the balances in the account and the balances as mentioned by the said Haryana Government entities holding accounts with the bank.
Based on the preliminary internal review conducted, the bank said that the matter was confined to a specific group of government-linked accounts within Haryana Government operated through the said branch in Chandigarh and do not extend to other customers of the Chandigarh Branch.
The aggregate amount under reconciliation across the identified accounts at the above mentioned Branch is approximately Rs 590 crore, the bank stated.
The impact may be determined based on receipt of further information, validation of claims, recoveries of any nature including those made through the process of marking lien on fraudulent beneficiary accounts maintained with other banks, liabilities of other entities involved in the fraudulent transactions, and the legal recovery process.
The bank has placed four suspected officials under suspension pending investigation. The bank will pursue strict disciplinary, civil and criminal action against the employees and other external individuals responsible, in accordance with applicable law.
A meeting of the special committee of the board for Monitoring and Follow-up of Cases of Frauds (SCBMF) was convened on 20 February 2026 and the matter was placed before the committee.
The meeting of the audit committee and the board of directors were convened on 21 February 2026 to apprise on the matter. The statutory auditors have been informed.
The bank has filed a complaint with the Police authorities and will extend full cooperation to the investigating agencies.
The bank has sent recall request to certain beneficiary banks to lien mark balance in suspicious accounts held in these banks.
In a separate filing, IDFC First Bank said that the bank has appointed KPMG to initiate an independent forensic audit in aforementioned matter.
IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, Internet, and mobile. The bank provides customized financial solutions to corporations, individuals, small and micro enterprises (SMEs), entrepreneurs, financial institutions, and the government.