The IDFC First Bank scam Rs 590 crore fraud has emerged as one of the most significant financial irregularities involving public funds in recent Indian banking history. Investigators say unauthorised transactions, forged bank memos, fake companies and manipulated records were used to siphon off nearly ₹590 crore from government accounts held at a branch of IDFC First Bank. The case has triggered multi‑agency probes, dozens of arrests, frozen accounts and widespread scrutiny