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The latest announcement is out from FINO Payments Bank Ltd. ( (IN:FINOPB) ).
Fino Payments Bank said its managing director and chief executive officer, Rishi Gupta, has been granted bail by a Special Judge for Economic Offences in Hyderabad, in connection with an ongoing investigation involving certain program managers linked to multiple banks. The bank stressed that the probe does not concern its GST compliance and that it continues to fully cooperate with authorities.
Management emphasized that core business momentum remains healthy, citing sustained deposit growth and rising referral assets as evidence of its resilient operating model. The lender reiterated that operations are stable and uninterrupted, reaffirming its commitment to strong governance, regulatory adherence and transparent engagement with regulators and stakeholders as the legal process continues.
More about FINO Payments Bank Ltd.
Fino Payments Bank Limited operates in the Indian payments banking sector, offering digital banking and transaction services focused on deposits, payment solutions and referral-based financial products. The bank targets mass-market and underbanked customers through a technology-led model, positioning itself as a convenient platform for everyday banking and financial inclusion.
Average Trading Volume: 32,774
Technical Sentiment Signal: Sell
Current Market Cap: 10.22B INR
For a thorough assessment of FINOPB stock, go to TipRanks’ Stock Analysis page.