Fino Payments Bank Stock Plummets 16% Despite ED Probe Clarification

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Fino Payments Bank Shares Crash 16% Amid ED Probe Reports; Bank Clarifies Position

Fino Payments Bank shares crash 16% even as lender clarifies on ED probe reports

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Moneycontrol•16-03-2026, 13:11

Fino Payments Bank Shares Crash 16% Amid ED Probe Reports; Bank Clarifies Position

•Fino Payments Bank shares plummeted over 16% to a 52-week low on March 16.
•The fall was triggered by reports suggesting potential ED scrutiny over online gaming transactions linked to the bank.
•MD & CEO Rishi Gupta was arrested on February 27 by DGGI Hyderabad under GST Act provisions.
•The bank clarified it is not under ED investigation, only DGGI (Hyderabad) for certain program managers and merchants.
•Fino Payments Bank denied promoting gaming/betting activities and called PMLA probe reports 'non-factual and speculative'.

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