Fino Payments Bank has issued a clarification regarding recent media reports about an alleged expansion of a probe involving the bank. The bank emphasised that it is not under investigation by any authority other than the Directorate General of GST Intelligence (DGGI), Hyderabad.
The ongoing investigation by the DGGI pertains to certain programme managers and merchants associated with multiple banks, including Fino Payments Bank. The bank clarified that the investigation is not related to its GST compliance. Furthermore, the bank addressed inaccuracies in media reports, stating that references to court proceedings, such as the rejection of bail, are incorrect.
Fino Payments Bank also reiterated that it does not engage in or promote any gaming or betting activities, directly or indirectly, through any platform, website, or channel. The bank remains committed to maintaining high standards of governance, regulatory compliance, and transparency, and continues to cooperate fully with relevant authorities.
The bank assured stakeholders that it will continue to engage constructively with regulators and make appropriate disclosures in line with applicable laws and regulatory requirements.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.