New Delhi, Feb. 22 -- IDFC First Bank has on 21 February informed the exchanges that the bank has identified fraud by certain employees at a branch in Chandigarh, potentially involving other individuals or entities as well.

The aggregate amount under reconciliation across the identified accounts at the particular branch is around Rs.590 crore, it added.

In a filing with the BSE, the lender said the fraud was found following a preliminary internal assessment conducted based on communication from a particular Department of Government of Haryana.

(This is a breaking story, more updates to come.)

Published by HT Digital Content Services with permission from MINT....