New Delhi, March 10 -- IDFC FIRST Bank announced on Tuesday that it has paid a net principal amount of Rs 645 crore to settle claims arising from an incident at a single branch in Chandigarh. The final payout is Rs 55 crore higher than the initial principal estimate of Rs 590 crore previously disclosed to stock exchanges.

In a regulatory filing, the bank clarified that these payments pertain to the same incident linked to the Chandigarh location and do not represent a new development. According to the IDFC FIRST Bank release, there are no other pending claims related to this matter. The bank stated it has now "completed reconciliation of all relevant accounts in the said Chandigarh branch, and no further discrepancy is noted".

The bank ...