New Delhi, Aug. 9 -- The Rs.646 crore fraud at IDFC First Bank's Chandigarh branch prompted an unusually direct response from the lender's top management, with managing director and chief executive V. Vaidyanathan flying to the city the same day the incident became public to meet senior administrative officials and assure them the bank would do the right thing.

"Since the matter was serious, I personally flew to Chandigarh the same day and met senior administrative officials. I assured them of the Bank's bona fides, our culture and our commitment to doing the right thing," Vaidyanathan wrote in his letter to shareholders in the bank's annual report for fiscal year 2026 (FY26), released on Sunday.

He said the officials appreciated the ba...