Explained: How the IDFC First bank Rs 509 cr fraud unfolded

A ‘discrepancy’ of Rs 590 crore across multiple Haryana government accounts led to IDFC bank’s shares crashing 20% and raising questions about how much it would impact the Indian banking sector.

The Haryana chief minister has promised to recover the funds and all government departments have been told to shift funds out of the bank into other accounts held with other banks.