New Delhi, Feb. 23 -- IDFC First Bank shares extended their fall to hit the 20% lower circuit on BSE on Monday, February 23, after the lender informed stock exchanges that it had uncovered fraudulent transactions worth around Rs.590 crore at one of its branches in Chandigarh, allegedly involving a few employees.

IDFC First Bank shares had opened 10% lower but extended losses as the selling pressure showed no signs of abating. The stock hit the day's low of Rs.66.85.

The sharp crash in IDFC First Bank share price followed after the private lender disclosed suspected fraudulent transactions, which raised concerns over internal controls and potential earnings impact.

As per the lender, the issue came to light after it received a request f...