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Fino Payments Bank denies GST evasion, rejects betting links
Fino Payments Bank said it has not evaded GST or promoted betting after its MD & CEO Rishi Gupta was arrested by the Directorate General of GST Intelligence in a probe into alleged illicit fund flows via shell firms and payment aggregators. The bank said the investigation relates to third-party programme managers, not its own compliance, and that all onboarding and invoicing followed regulations.
Fino Payment Bank CEO's Arrest: FM Nirmala Sitharaman Responds After Mohandas Pai Flags GST Overreach
CFO Ketan Merchant said that the bank has a strong corporate governance, compliance framework and robust processes in place.
Payments Council writes to FM Sitharaman over Fino Bank CEO’s arrest
India's digital payments body, PCI, has voiced concerns to the Finance Minister following Fino Payments Bank CEO's arrest. While respecting law enforcement, PCI highlighted risks to governance continuity and trust in complex financial ecosystems. They emphasized the need for proportionality in accountability, especially for supervised institutions and their leadership.
Watch | Sanjay Parekh on where he sees value in banks, IT, cement and telecom stocks
Sohum Asset Managers’ Founder & CIO, Sanjay Parekh, says markets look sluggish despite improving macro conditions, with Q3 Nifty earnings near 8–9%. He sees recovery in CVs (Ashok Leyland), credit growth at ICICI Bank and gradual picka a up in cement and steel. Portfolio stays domestic-focused: overweight telecom, NBFCs, industrials, cement, utilities, ports and logistics; underweight oil & gas and banks, zero FMCG. Watching IT names like Infosys and TCS, mid-cap tech (Persistent, Coforge, Mastek), defence HAL, quick commerce Zomato and Swiggy, and capital goods L&T, JSW Energy.
SBI block deal: BNP Paribas buys 5.28 lakh shares in a Rs 64 crore transaction
French bank BNP Paribas acquired 5.28 lakh shares of State Bank of India for Rs 64 crore. The transaction occurred through a block deal with Societe Generale. SBI shares have shown strong investor returns over the past year. The bank recently surpassed Tata Consultancy Services in market capitalization.
HDFC Bank, SBI dominate India’s credit card spending, top 5 banks control 85.6%
India’s credit card space is rapidly consolidating under major players. HDFC Bank and State Bank of India together now account for nearly half of all card spending, while the top five lenders control more than 85% of transactions. Consumers are increasingly turning to these large, established banks for big-ticket purchases.
Dynacons Systems gains on bagging Rs 109-cr order from Punjab & Sind Bank
Dynacons Systems & Solutions added 2.77% to Rs 943.85 after it has secured a contract worth Rs 108.88 crore from Punjab & Sind Bank for the supply, implementation and management of on-premises private cloud infrastructure.
Dynacons Systems wins order worth Rs 109 cr from Punjab & Sind Bank
Dynacons will oversee the design and implementation of the necessary IT infrastructure, underlying system software, and cloud services to support the deployment and hosting of the Bank's applications, including the Data Center and Disaster Recovery (DC-DR) environment.
BillDesk to acquire Worldline India for ₹650 crore, expanding offline presence
BillDesk acquires Worldline India for ₹650 crore, expanding its offline payment terminals and omnichannel presence. The deal includes a long-term software agreement and strengthens bank partnerships.
Stock Market Highlights: Market closes in the green but off highs, Nifty above 25,450
Sensex Today | Stock Market LIVE Updates: The market have been volatile as the indices are off the day's high. The Nifty is up 40 points, rising towards 25,500. The Nifty Bank index has fallen from the highs of the day, now trading with a deficit of 100 points. Tech Mahindra, HCLTech, Wipro, Infosys are among the top gainers.
Sensex Today | Stock Market LIVE Updates: Nifty falls sharply off highs; Newgen down 8%
Sensex Today | Stock Market LIVE Updates: The Indian markets look keen on recovering from the losses as the Nifty index trades 30 points higher at 25,500. The Nifty Bank index is outperforming the benchmark, with gains of over 300 points, rising above the 61,000 mark.
Stock Market Today LIVE: Sensex off-day’s high; Nifty 50 holds above 25,500; PSU banks, metals shine
Stock Market Today LIVE: Broader markets supported the rally, with the Nifty Smallcap 100 and the Nifty Midcap 100 indices trading higher. Barring Nifty IT, all other sectoral indices were trading in the green, led by Nifty Metals, Nifty FMCG, Nifty PSU Bank, Nifty Auto and Nifty Pharma indices.