REUTERS - Reuters

IDFC First Bank Pays $64.1M Amid Fraudulent Transactions in Haryana IDFC First Bank paid 5.83 billion rupees ($64.1 million) to Haryana state after suspected fraudulent transactions amounting to 5.9 billion rupees were discovered in accounts linked to the state government. The bank suspended four employees and initiated a forensic audit by KPMG. Haryana dropped IDFC First from its list of banks handling government business. Haryana Chief Minister Nayab Singh Saini announced that a high-level committee would be formed to hold those involved accountable and prevent future incidents. The payment included approximately 220 million rupees in interest.