IDFC First branch fraud case: The transactions were executed using forged cheques and manually carried out at the branch, managing director and chief executive V Vaidyanathan told ET.
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IDFC First Bank’s market capitalization plummeted by Rs 14,438 crore after a Rs 590 crore fraud at its Chandigarh branch. Employees allegedly conducted unauthorized transactions in Haryana state government accounts, leading to a significant deposit balance discrepancy. The bank insists…
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Indian branches of major accounting firms are now actively pursuing large M&A deals exceeding $500 million. These firms are leveraging their extensive experience and deep client relationships to challenge global investment banks. This shift is driven by India’s economic growth…
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India’s upcoming CAFE III standards will likely balance the auto industry by imposing stricter fuel efficiency goals on large carmakers while offering some leniency to smaller ones. The discontinuation of derogation for small cars is expected to increase entry-level vehicle…
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Economists anticipate the Reserve Bank of India will inject at least ₹5 lakh crore through liquidity operations next fiscal year. This move aims to balance a significant supply-demand imbalance in the bond market, facilitating effective transmission of past rate cuts…
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IDFC FIRST Bank has uncovered a significant fraud totaling Rs 590 crore. The incident involves employees at one of its Chandigarh branches. Four suspected officials have been suspended pending a thorough investigation. The bank is also appointing an independent agency…
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