IDFC First Bank shares tumble 10% after ₹590 crore fraud; Haryana govt takes action

On February 23, 2026, Indian markets woke up to a shock. Shares of IDFC First Bank plunged sharply after the lender revealed it uncovered a suspected ₹590 crore fraud linked to accounts held by the Haryana government at its Chandigarh branch. The startling discovery triggered a sudden sell-off, pushing the stock into lower circuits and wiping out billions in market value within hours.