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Jio Payments Bank introduces UPI-based cash withdrawal service
Jio Payments Bank (JPBL), a wholly-owned subsidiary of Jio Financial Services has introduced UPI-based cash withdrawal through its Business Correspondent (BC) touchpoints, marking an important step towards strengthening India's digital payments ecosystem and advancing financial inclusion in the country.
Oil Country Tubular Ltd leads losers in 'B' group
Fino Payments Bank Ltd, Super Spinning Mills Ltd, Allcargo Terminals Ltd Partly Paidup and Hindustan Oil Exploration Company Ltd are among the other losers in the BSE's 'B' group today, 16 March 2026.
Fino Payments Bank shares crash 19% on report of possible ED probe; lender clarifies
Fino Payments Bank shares tumbled over 19% to a record low after a report said some online gaming transactions linked to the lender may attract scrutiny from the Enforcement Directorate. The bank later clarified it is not under any ED investigation and is cooperating with DGGI Hyderabad in an ongoing GST-related probe.
Fino Payments Bank shares crash 19% amid report of possible ED probe; Here's what the co said
The bank clarified that the ongoing investigation by DGGI relates to certain program managers and merchants associated with multiple banks, including Fino Payments Bank, and does not concern the bank’s own GST compliance.
Fino deposits touch all-time high of ₹2,900 crore amid rapid account additions
Fino Payments Bank reported a record ₹2,900 crore in deposits as of March 13, adding 1.5 lakh new accounts since February 27. Q3 FY26 net profit fell 47% year-on-year.
Banks directed to monitor non-submission of digital life certificates for pension: Centre to Rajya Sabha
Pension disbursing banks must now monitor and ensure pensioners submit digital life certificates. The government has introduced face authentication for easier submission using smartphones. Services of India Post and Payments Bank are also utilized. Mega camps are held to assist elderly, sick, and disabled pensioners. Pension adalats have resolved thousands of long-pending grievances.
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 Payments Bank shares stage swift recovery after 14% plunge on MD & CEO arrest
Fino Payments Bank MD and CEO Rishi Gupta's arrest was under the GST Act 20217 and SCGST Act 2017. The bank said the investigation is related to its business partners and not related to the GST compliance of the bank.
Fino Payments Bank shares plummet as much as 14% after CEO's arrest
Fino Payments Bank shares tumbled after its MD and CEO, Rishi Gupta, was arrested under GST law. The bank clarified the arrest relates to business partners and not its own compliance, with the CFO taking over operations. This comes after RBI approved Gupta's reappointment and the bank's conversion to a small finance bank.
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.
FM Nirmala Sitharaman says she will look into Fino Bank CEO's arrest under GST Act
Fino Payments Bank informed the stock exchange that its MD and CEO, Rishi Gupta, has been arrested under specific sections of the CGST and SGST Act, 2017.