IDFC Bank CEO flies to Chandigarh after ₹646 crore fraud, pledges tighter controls
A ₹646 crore fraud at the Chandigarh branch forced IDFC Bank’s managing director V. Vaidyanathan to travel there and meet senior officials within a day. In a shareholder letter he pledged tighter controls and a moral‑conduct audit, stressing that the incident exposed collusion limits even with AI‑driven monitoring.