IDFC Bank shares tanked 10 per cent to Rs 75.21 when the market opened for trading on Monday.Private sector IDFC Bank, which reported a Rs 590 crore fraud in its Haryana branch over the weekend, said Monday the bank is in full control and transactions across the country will happen smoothly. IDFC Bank MD and CEO V Vaidyanathan said the bank “will spare no one and will get to the bottom” of the fraud. “We will move diligently and very fast… we will scan every nook and corner to see any employees are involved,” he said in a conference call.IDFC Bank shares tanked 10 per cent to Rs 75.21 when the market opened for trading on Monday. “It was a physical transaction and not a digital transaction… and it happened with the concurrence of some employees. This is something we will manage and handle comfortably. There was no system error,” Vaidyanathan said. The amount involved will largely be around Rs 590 crore, the bank said.Also read | IDFC First Bank reports Rs 590-crore fraud by its staff in accounts held by Haryana govtIDFC 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 bank. The bank has reported the matter to the banking regulator RBI and also filed a police complaint.“This is a specific isolated incident that happened in one branch. Clearly some employees were involved and external parties were also involved,” the bank said. The bank said it has appointed KPMG to initiate an independent forensic audit in this matter.The forensic audit process will take four to five weeks, the bank said. “We run the bank very conservatively. This (fraud) is a collusion of individuals,” Vaidyanathan said.The bank said it is well capitalised and the profitability is on a positive trajectory. It’s also expecting improvement in the net interest margin.IFDC Bank’s branch network has grown by 5 time since merger in December 2018 — from 206 branches to 1,002 branches as on March 31, 2025. The bank made a net profit of Rs 502 crore for the quarter ended December 2025. © The Indian Express Pvt LtdTags:IDFC Bankshares