IDFC First Bank's stock tumbles 20 pc after Rs 590-cr fraud
IDFC First Bank's stock tumbles 20 pc after Rs 590-cr fraud is drawing significant interest across the industry.
NEW DELHI, Feb 23: Shares of IDFC First Bank tumbled 20 per cent on Monday after the private sector lender disclosed a Rs 590-crore fraud committed by its employees and others in accounts held by the Haryana government. The stock nosedived 19.99 per cent to Rs 66.85 — also its lower circuit limit — on the BSE. The move came after the Haryana government de-empanelled AU Small Finance Bank, along with IDFC First Bank, from undertaking any government business over […]
Experts suggest this could influence future trends and innovation in the sector.
More updates are expected as the story develops.
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