Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
An announcement from FINO Payments Bank Ltd. ( (IN:FINOPB) ) is now available.
Fino Payments Bank issued a clarification to stock exchanges addressing recent media reports and speculation surrounding regulatory and investigative matters. The bank reiterated that the Reserve Bank of India has given it 18 months to convert into a small finance bank, a process it expects to complete ahead of schedule with a differentiated business model.
The bank firmly denied any association with shell companies, the use of offshore merchants or program managers, or any bypassing of KYC and due diligence procedures. It also stated that it is only under inquiry by the Director General of GST Intelligence in the matter at hand, has not issued fake invoices, and does not currently foresee any financial liability, emphasizing that operations remain business as usual and that it will continue full engagement with regulators to maintain transparency and trust.
More about FINO Payments Bank Ltd.
Fino Payments Bank Ltd. is an India-based payments bank focused on providing banking and financial services, including merchant and program manager-based payment solutions. Operating under the regulatory ambit of the Reserve Bank of India, it targets retail and small business segments with a technology-led, assurance-first approach to digital and branchless banking.
Average Trading Volume: 22,350
Technical Sentiment Signal: Sell
Current Market Cap: 15.99B INR
For a thorough assessment of FINOPB stock, go to TipRanks’ Stock Analysis page.