New Delhi, Feb. 23 -- IDFC First Bank has suspended four employees at a branch in Chandigarh for suspected involvement in a Rs.590 crore fraud targeting bank accounts linked to the Haryana state government. In a filing with the exchanges on Saturday, the bank said its internal assessment found fraudulent activities were conducted by certain employees, which potentially involved other individuals or entities as well.

PTI on Sunday, reported that the Haryana government's Finance Department issued a circular notifying that IDFC First Bank and AU Small Finance Bank have been de-empanelled for all government business - such as holding funds (savings), deposits, investments or transactions - with immediate effect till further notice.

The same...