Press Release in continuation to letter dated February 27, 2026
FINOPB · price
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Fino Payments Bank has issued a follow-up press release regarding an ongoing GST investigation. The Bank clarified that the investigation pertains to certain 'program managers' who have relationships with multiple banks, including Fino Payments Bank. The Bank and its MD & CEO Mr. Rishi Gupta stated they have nothing to do with the actions of these programme managers. CFO Ketan Merchant emphasized that the Bank maintains strong corporate governance, is compliant with all laws including GST, and will fully cooperate with authorities. The company assured customers, investors, and stakeholders that business operations will continue without any disruption and there will be no impact on banking services.
This is a reputation-sensitive disclosure but the Bank is attempting to distance itself from the GST issue by attributing it to third-party program managers. Short-term stock price volatility is possible, though the company's assurance of uninterrupted operations and full legal compliance may help limit downside. Investors should monitor for further regulatory updates.