New Delhi, Feb. 23 -- IDFC First Bank is investigating if the documents at the centre of an alleged Rs.590 crore fraud at its Chandigarh branch were genuine or forged, two people familiar with the matter said, even as it has suspended four officials and prepares a forensic audit.

The Warburg Pincus-backed lender on Sunday said the discrepancy was discovered when a Haryana government department requested that its account be closed and the funds transferred to another bank-the account balance was found to differ from what the account owner believed it should be. Similar discrepancies were noted when other Haryana government entities engaged with the bank on their accounts.

IDFC First told the stock exchanges that it has informed the RBI, ...