IDFC First Bank Clarifies No Additional Liability In CREST Chandigarh Investigation

IDFC First Bank has issued an official clarification regarding news articles about the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST) investigation, confirming that the bank faces no additional financial liability beyond previously settled amounts. The bank's statement comes amid ongoing regulatory scrutiny and law enforcement actions related to the Chandigarh branch incident.

Bank's Official Clarification

In a regulatory filing dated March 13, 2026, the bank addressed recent news coverage about CREST:

Clarification Details:	Information
Filing Date:	March 13, 2026
Reference Entity:	CREST Chandigarh
Additional Liability:	None
Settlement Status:	Already completed
Account Reconciliation:	Completed as of March 10, 2026

The bank emphasized that amounts mentioned in recent news articles are already part of the settlement made earlier and covered in previous disclosures dated February 21, February 22, February 24, and March 10, 2026.

Investigation Status and Ongoing Processes

The bank clarified that today's news articles appear to pertain to CREST's own investigation process rather than any new developments affecting the bank's financial position. Company Secretary Satish Gaikwad confirmed that the bank has completed reconciliation of all relevant accounts related to the Chandigarh Branch with no further discrepancies noted.

Process Update:	Status
Account Reconciliation:	Completed
Additional Discrepancies:	None noted
Law Enforcement Actions:	May continue
Recovery Process:	Ongoing

Previous Financial Impact

The bank had earlier disclosed the complete financial impact of the Chandigarh branch incident:

Financial Impact:	Amount (₹ Crores)
Initial Principal Estimate:	590.00
Actual Claims Received and Paid:	645.00
Incremental Payout:	55.00

The bank maintains that all claims were related to the same incident at the Chandigarh branch, with no other pending claims existing at the time of previous disclosures. The institution has warned that actions by various law enforcement agencies may continue to be reported in news articles as part of the ongoing legal and recovery process.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.49%	-5.15%	-18.74%	-12.95%	+4.86%	+2.51%

IDFC FIRST Bank Limited has announced the allotment of 20,16,620 equity shares to eligible employees under its Employee Stock Option Scheme. The allotment was approved by the duly authorized Committee of the Board of Directors on March 12, 2026, following the exercise of previously granted and vested stock options by employees.

Share Allotment Details

The allotted equity shares carry a face value of ₹10 each and are fully paid-up. These shares have been issued under the 'IDFC FIRST Bank Limited - Employee Stock Option Scheme' and will rank pari-passu with the existing equity shares of the bank in all respects.

Parameter:	Details
Shares Allotted:	20,16,620 equity shares
Face Value:	₹10 per share
Allotment Date:	March 12, 2026
Scheme:	IDFC FIRST Bank - ESOS
Status:	Fully paid-up

Impact on Share Capital

The allotment has resulted in an increase in the bank's issued and paid-up equity share capital. The capital structure has been revised following the incorporation of the newly allotted shares.

Capital Component:	Before Allotment	After Allotment
Paid-up Capital:	₹85,99,19,20,400	₹86,01,20,86,600
Number of Shares:	8,59,91,92,040	8,60,12,08,660
Face Value per Share:	₹10	₹10

Regulatory Compliance

The disclosure has been made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The bank has informed both the National Stock Exchange of India Limited and BSE Limited about the allotment as part of its regulatory obligations.

The communication was signed by Satish Gaikwad, General Counsel and Company Secretary of IDFC FIRST Bank Limited, confirming the completion of the allotment process under the employee stock option scheme.