New Delhi, Feb. 23 -- The Reserve Bank of India (RBI) Governor Sanjay Malhotra on Monday said the Rs 590 crore fraud reported at one of the IDFC First Bank branches is not a systemic kind of issue, and the central bank is watching it.

While addressing the media, after the customary post-Budget meeting with finance minister, RBI governor on the issue said, "As a policy, we do not comment on any individual bank or regulated entity. We are watching the development. There is no systemic kind of issue."

IDFC FIRST Bank has suspended four employees after it discovered fraudulent activity involving approximately Rs 590 crore in certain Haryana government accounts at its Chandigarh branch, the bank said in its official stock exchange filing.

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