Fino Payments Bank Achieves Record ₹2,900 Crore Deposits with Surging Account Growth
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Fino Bank Deposits Hit ₹2,900 Cr High; MD's GST Arrest Case Verdict Soon
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CNBC TV18•14-03-2026, 16:55
Fino Bank Deposits Hit ₹2,900 Cr High; MD's GST Arrest Case Verdict Soon
•Fino Payments Bank's total deposit balance reached an all-time high of ₹2,900 crore as of March 13, growing nearly 9% in two weeks.
•The bank added 1.5 lakh new banking accounts since February 27, averaging 10,000 daily, indicating rapid customer base expansion.
•Despite deposit growth, net profit for Q3 FY26 sharply declined by 47% year-on-year to ₹12.3 crore, with total income also dropping 15%.
•Managing Director Rishi Gupta was arrested in a GST evasion investigation involving merchants on its payment aggregation platform.
•Telangana High Court reserved its order on MD's writ petition challenging his arrest, with the verdict expected on March 17; CFO Ketan Merchant is overseeing operations.
