India, Feb. 22 -- Private sector lender IDFC First Bank has reported Rs. 590 crore fraud at one of its Chandigarh branches, involving accounts linked to departments of the Government of Haryana, media reports said on Sunday.

"The aggregate amount under reconciliation across the identified accounts at the above mentioned Branch is approximately Rs.590 crore. The impact may be determined based on receipt of further information, validation of claims, recoveries of any nature including those made through the process of marking lien on fraudulent beneficiary accounts maintained with other Banks, liabilities of other entities involved in the fraudulent transactions, and the legal recovery process," the bank informed the stock exchanges as quot...