Federal Bank Gets ₹322.6 Cr Income Tax Refund

Federal Bank received an Income Tax Department order dated 26 March 2026 under Section 254 of the Income Tax Act, 1961.
The order gives effect to an ITAT ruling dated 13 August 2024, resulting in a refund of ₹322.62 crore including interest under Section 244A.
The refund pertains to Assessment Year 2016-17 and was disclosed under Regulation 30 of SEBI LODR Regulations, 2015.