India, Feb. 23 -- IDFC First Bank on Sunday disclosed a Rs 590 crore fraud committed by its employees and others in accounts held by the Haryana Government with the private sector lender. In a regulatory filing made in the wee hours, IDFC First Bank said it has disclosed the matter to the banking regulator and also filed a police complaint.

"Prima facie, unauthorised and fraudulent activities have been carried out by certain employees at a particular branch in Chandigarh in a specific set of Haryana state Government accounts and potentially involving other individuals/entities/counterparties," the IDFC First Bank filing said.

At present, it estimated the fraud size at Rs 590 crore and added that a "reconciliation exercise" will determin...