IDFC First Bank has clarified that news articles published on March 13, 2026, regarding the Chandigarh Renewable Energy and Science and Technology Promotion Society (CREST) do not represent any additional financial liability for the bank.
The bank stated that the amount referenced in the articles is already part of a settlement concluded earlier and covered in previous regulatory disclosures filed on February 21, February 22, February 24, and March 10, 2026.
According to the bank’s statement, today’s news coverage appears to relate to CREST’s own internal investigation process. However, the bank emphasised that as far as its own position is concerned, no fresh financial obligation has arisen from this matter.
The bank further noted that it has completed a full reconciliation of all relevant accounts pertaining to the Chandigarh Branch. Following this reconciliation exercise, no additional discrepancies were identified, the bank said in its disclosure to the National Stock Exchange.
IDFC First Bank cautioned that various law enforcement agencies and the bank itself may continue to take actions related to the matter, which could result in periodic news coverage. The bank requested stakeholders to view such developments as part of the ongoing legal and recovery processes associated with the case rather than as indicators of new liabilities or fresh developments in the settlement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).