Fino Payments Bank Digital Transactions Decline Under Regulatory Pressure
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Fino Payments Bank's Digital Transactions Plummet Amid Regulatory Scrutiny, CEO Arrest
M
Moneycontrol•05-03-2026, 07:04
Fino Payments Bank's Digital Transactions Plummet Amid Regulatory Scrutiny, CEO Arrest
•Fino Payments Bank sees sharp decline in digital transactions, including UPI volume and value, due to mounting regulatory pressure.
•UPI transaction volume dropped over 50% from 9.6 lakh in Nov 2025 to 4.6 lakh in Jan 2026, with value falling from Rs 83.5 crore to Rs 46.6 crore.
•CEO Rishi Gupta was arrested by the GST department for alleged tax evasion of Rs 840 crore, intensifying the bank's crisis.
•Digital transaction count, throughput, and revenue have significantly decreased over the past three quarters (Q4 FY25 to Q3 FY26).
•Regulatory changes, including stopping the Programme Manager model and moving to Payment Aggregator, impacted merchant onboarding and margins, with concerns over real-money gaming.
