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The Economic Times

Economy / The Economic Times

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RBI sees no systemic risk in Rs 590-crore fraud uncovered by IDFC First Bank

The Reserve Bank of India has stated there is no systemic risk following a fraud case at IDFC First Bank involving approximately Rs 590 crore in Haryana government accounts. The bank has suspended four officials and is pursuing legal action for recovery, while Haryana has de-empanelled IDFC First Bank for government operations.

23 Feb 2026 12:32 pm