A Bug Inducing Commit (BIC) is a code change that introduces a bug into the codebase. Although the abnormal or unexpected behavior caused by the bug may not manifest immediately, it will eventually lead to program failures further down the line. When such a program failure is observed, identifying the relevant BIC can aid in the bug resolution process, because knowing the original intent and context behind the code change, as well as having a link to the author of that change, can facilitate bug triaging and debugging. However, existing BIC identification techniques have limitations. Bisection can be computationally expensive because it requires executing failing tests against previous versions of the codebase. Other techniques rely on the availability of specific post hoc artifacts, such as bug reports or bug fixes. In this paper, we propose a technique called Fonte that aims to identify the BIC with a core concept that a commit is more likely to be a BIC if it has more recently modified code elements that are highly suspicious of containing the bug. To realise this idea, Fonte leverages two fundamental relationships in software: the failure-to-code relationship, which can be quantified through fault localisation techniques, and the code-to-commit relationship, which can be obtained from version control systems. Our empirical evaluation using 206 real-world BICs from open-source Java projects shows that Fonte significantly outperforms state-of-the-art BIC identification techniques, achieving up to 45.8% higher MRR. We also report that the ranking scores produced by Fonte can be used to perform weighted bisection. Finally, we apply Fonte to a large-scale industry project with over 10M lines of code, and show that it can rank the actual BIC within the top five commits for 87% of the studied real batch-testing failures, and save the BIC inspection cost by 32% on average.