IDFC First Bank share price today: IDFC First Bank stock opened in green on Tuesday a day after its shares recorded the worst crash since March 2020. At 9:18 AM, IDFC First Bank shares were trading at Rs 70.37, up 0.47%. The steep fall came on IDFC First Bank admitting to a Rs 590 crore fraud at its Chandigarh branch related to Haryana government accounts.IDFC First Bank on Monday said it expects to stay profitable despite a Rs 590-crore impact from fraudulent transactions involving Haryana government-linked accounts, even as its shares fell 16% during the day.Addressing analysts on a conference call, Managing Director and CEO V Vaidyanathan said the irregularities were traced to employee collusion at the bank’s Chandigarh branch. He said that KPMG has been appointed to conduct a forensic audit and noted that the bank has employee dishonesty insurance coverage of up to Rs 35 crore. According to officials, the fraud stemmed from forged cheques that were cleared at the branch.“This is a specific isolated incident that happened in one branch with one client group,” Vaidyanathan said, adding that it is confined to “a particular branch in Chandigarh and is confined to a limited set of Haryana govt-linked accounts.”He ruled out any digital compromise, saying that the episode involved physical cheque manipulation. “This is a physical transaction where the cheques have been forged. This is the oldest kind of fraud probably known to banking,” he said. “This looks to us on the basis of the work we’ve done clearly a case of employee fraud,” he added, noting that funds were transferred to beneficiary accounts outside the bank.Vaidyanathan said established safeguards such as maker-checker-authoriser controls, positive pay systems for cheques, scrutiny of high-value instruments, SMS alerts and monthly account statements were in place. However, he acknowledged that collusion among employees allowed the fraud to bypass these checks. “The issue in this case is that many of these people connived in making it happen.” The bank has decided to introduce pre-approval requirements for clearing all high-value cheques.In the Haryana Assembly, Chief Minister Nayab Singh Saini said on Monday that the funds involved in the IDFC First Bank Rs 590-crore fraud case will “definitely come back” and assured that appropriate action will be taken against those responsible.IDFC First Bank has suspended staff suspected of involvement. Vaidyanathan said KPMG’s forensic audit is expected to take “four to five weeks to conclude.”(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

BBC Washington correspondent Daniel Bush on who may skip the speech, why the president is fuming at the Supreme Court, and what policies could, or couldn’t, be in for a shake‑up.

8 hrs ago

Most of the UK’s biggest businesses have hit targets for gender representation in their boardroom, but fall short when it comes to women leaders who face greater scrutiny and unconscious bias, according to Government-backed report.

Data from the FTSE Women Leaders Review shows that women held 43% of board positions on FTSE 350 companies in 2025.

It marks a significant leap towards gender balance in the boardrooms of the UK’s biggest listed companies, from the 9.5% recorded when the review began 15 years ago.

Nevertheless, the proportion is more or less the same than it was in 2024.

Vivienne Artz, chief executive of the FTSE Women Leaders Review, said the “pace of change is naturally beginning to level as parity approaches”, adding: “Boards are still making progress, which is great, but there’s not as much progress to make.”

The review, which is supported by the Government, tracks the progress of the FTSE 350 and 50 of the UK’s largest private companies towards voluntary gender representation targets.

The latest report revealed that the proportion of women in leadership positions on the FTSE 350 has edged up to 36%, from 35% the previous year, as of the end of October 2025.

Within that, the proportion of women in chief executive roles was 8%, up from 7%.

There were nine women chief executives at FTSE 100 companies.

There has been a recent flurry of female bosses quitting from top listed companies and being replaced by men, such as Dame Emma Walmsley from drug firm GSK, Liv Garfield from water supplier Severn Trent, and Diageo’s Debra Crew.

On the other hand, energy giant BP appointed its first ever female chief executive, who is due to step into the role in April.

Ms Artz said firms were making slow progress when it comes to gender balance for the CEO, chair and finance director roles.

“It’s because they are incredibly demanding and difficult roles to fill,” she told the Press Association.

“I think that too often we rely on the safe option which is, ‘we’re going to have have someone who’s done it before’.

“And if you’re always going back to fishing in the same pond then you’re not finding new talent… you’re not looking at skills and expertise, as opposed to a CV that you feel comfortable with and you’re seen before,” she said.

Furthermore, Ms Artz said women can face barriers to leadership positions due to prevailing attitudes which have “not been easy to dismantle”.

“I think we can say that female CEOs get a lot more scrutiny and they get judged on different things that male CEOs do,” she said.

She said that talking points such as whether the person is married or has children can be “distracting, and in many ways it diminishes the credibility of the leader”.

“We do know that there is absolutely still unconscious bias and that there’s attitudes that need to change,” she said.

Ms Artz also argued that the cost of childcare means that families are led to making decisions that can “derail” or “sideline” a woman’s career.

Responding to the report, Chancellor Rachel Reeves said the data “shows how far we’ve come”, adding: “But there is still a long way to go as women remain under‑represented in key executive roles.

“As Chancellor, I’m clear there should be no ceiling on a woman’s ambition.

“When they can participate fully at every level, organisations make better decisions, innovate more and perform more strongly, boosting our whole economy.”

Business and Trade Secretary Peter Kyle said: “It’s essential that our top talent can reach the highest levels of leadership, which is why I’m so pleased the UK continues to lead the charge for gender equality in boardrooms.

“However, be in no doubt that despite this progress, there is still much more work to do.”

Looking at individual companies, drinks giant Diageo and supermarket and services chain The Co-operative Group have the highest representation of women in their boardrooms, at 77.8% and 72.7% respectively.

Marks & Spencer, HSBC, and water firms Severn Trent and Pennon Group are among those to record representation greater than 60%.

At the other end of the scale, parcel giant Evri and yoghurt maker Muller had no women on their boards, while the likes of pub groups Mitchells & Butlers and Wetherspoons were towards the bottom of the list with representation of 22%.