Fino Payments Bank Shares Plummet 20% After Company Statement to Exchanges
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Fino Payments Bank Shares Plunge 20%: Company Addresses Legal Issues, MD's Arrest
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CNBC TV18•25-03-2026, 06:46
Fino Payments Bank Shares Plunge 20%: Company Addresses Legal Issues, MD's Arrest
•Fino Payments Bank shares dropped 20% on Tuesday, remaining in focus after an update to exchanges.
•The bank acknowledged the Telangana High Court's dismissal of MD and CEO Rishi Gupta's writ petition challenging his arrest, stating it will explore legal recourse.
•Investigation pertains to program managers associated with multiple banks, not Fino Payments Bank's GST compliance.
•Rishi Gupta's bail application has been filed and will be addressed through legal process.
•Fino Payments Bank reiterated commitment to governance, compliance, and transparency; operations remain stable with highest-ever deposit balance of ₹2,900 crore.
