The Exchange has sought clarification from IDFC First Bank Limited with respect to recent news item captioned Haryana mandates exclusive banking with public sector banks, drops IDFC First and AU Small Finance. The response from the Company is attached.
IDFCFIRSTB · price
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On the reaction day the stock moved 1.2 pts more than Nifty Midcap 150 and 1.0 pts more than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
The NSE asked IDFC First Bank to clarify a news article saying Haryana dropped it and AU Small Finance Bank from government banking mandates, opting for public sector banks only. The bank said it routinely deals with state and central governments for empanelment and tax-collection work, and this is part of normal business. Importantly, the bank clarified that today's fall in its share price was not about any de-empanelment, but was linked to a fraud it had itself identified and disclosed to the stock exchanges on February 21, 2026. The bank followed proper procedure by reporting the matter to its Special Committee for fraud monitoring, Audit Committee, and Board, and also filed a police complaint. On February 22, 2026, the bank appointed KPMG as an independent external agency to carry out a forensic audit of the fraud.
The bank is trying to separate today's stock price slide from the Haryana news, pinning it instead on its own earlier fraud disclosure. This is a credibility issue that could keep the stock under pressure in the short term, and investors should watch the forensic audit findings for any further impact on earnings or capital.