IDFC First Bank’s ₹590 crore fraud disclosure in its Chandigarh branch has intensified scrutiny on private sector banks already facing slow deposit growth. Haryana has de-empanelled IDFC First Bank and AU Small Finance Bank from government business, raising concerns over potential migration of low-cost CASA deposits to PSU banks like SBI and PNB. RBI clarified there is no systemic risk, but analysts expect tighter oversight and possible medium-term deposit shifts.
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