Fino Payments Bank Share Price in Focus; Denies Betting and Gaming Links

 Fino Payments Bank has come under market focus after addressing recent media reports related to alleged links with online gaming transactions.  

The bank has issued a clarification rejecting these claims while outlining the scope of the ongoing investigation and recent business developments. 

Bank Denies Allegations and Clarifies Probe Scope 

The bank stated that reports suggesting involvement in betting or gaming activities, along with a possible probe under money laundering laws, are “non-factual and speculative.” It clarified that it is not under investigation by any authority other than the DGGI’s Hyderabad unit. 

Fino further explained that the ongoing inquiry is related to certain programme managers and merchants associated with multiple banks and does not concern the bank’s own GST compliance. It also dismissed claims regarding a court rejecting bail in the matter as “completely incorrect.” 

Earlier, on February 27, the bank’s Managing Director and CEO, Rishi Gupta, was arrested under provisions of the Central and State GST Acts. The bank had clarified at that time that the issue pertained to a business partner and not the bank itself. Following this development, Chief Financial Officer Ketan Merchant was appointed as interim CEO. 

Business Updates and Operational Growth 

Despite the developments, the bank reported continued operational momentum. It received in-principle approval from the Reserve Bank of India to transition into a small finance bank, marking a key step in its growth strategy. 

Additionally, the bank highlighted strong traction in deposits and customer acquisition. Deposit balances rose nearly 9% over the past 2 weeks, reaching an all-time high of ₹2,900 crore as of March 13, 2026.  

During the same period, around 1.5 lakh new accounts were opened, translating to an average of nearly 10,000 accounts per day since February 27. 

Read More: Bank of Baroda Share Price in Focus; Secures $500 Million Syndicated Loan! 

Fino Payments Bank Share Price Performance  

As of 17 March 2026, at 10:40 AM, Fino Payments Bank share price is trading at ₹137.50 per share, reflecting a decline of 2.09% from the previous closing price. Over the past month, the stock has declined by 38.64%. 

Conclusion 

Fino Payments Bank’s clarification seeks to address concerns arising from recent reports, while the bank continues to show steady growth in deposits and customer additions alongside its planned transition to a small finance bank. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.