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Payments Council writes to FM Sitharaman over Fino Bank CEO’s arrest

India's digital payments body, PCI, has voiced concerns to the Finance Minister following Fino Payments Bank CEO's arrest. While respecting law enforcement, PCI highlighted risks to governance continuity and trust in complex financial ecosystems. They emphasized the need for proportionality in accountability, especially for supervised institutions and their leadership. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/ov6b3Ad via IFTTT
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Fino Payments Bank CEO Arrested: FM Sitharaman to 'check' GST evasion case

Finance Minister Nirmala Sitharaman will investigate the arrest of Fino Payment Bank CEO Rishi Gupta. Gupta was apprehended by GST authorities in Hyderabad. The bank stated the probe concerns a business partner's transactions, not the bank's compliance. Social media questioned the extent of GST powers. The Finance Minister acknowledged the issue and promised to look into it. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/DtLUaN5 via IFTTT
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Real-time govt bank dashboard launched to tighten oversight

The initiatives aim to institutionalise uniform procedures and introduce objective performance benchmarks while reinforcing shared responsibility in safeguarding public funds. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/bsZmUkW via IFTTT
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Fino Bank MD and CEO Rishi Gupta arrested under GST provisions

Fino Payments Bank MD Rishi Gupta was arrested by DGGI Hyderabad in a probe concerning business partners under GST tax provisions. The bank stated the investigation is not related to its GST compliance, but sources indicate fake invoices caused government revenue loss. The Fino board has appointed CFO Ketan Merchant as interim head. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/wYrdtGv via IFTTT
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Fino Bank CEO Rishi Gupta arrested under GST acts

Fino Payments Bank's Managing Director and CEO, Rishi Gupta, was arrested under CGST and SGST Acts. The bank clarified the investigation involves a business partner, not its GST compliance, and is taking steps to resolve the issue. CFO Ketan Merchant will lead daily operations. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/IaSwPOx via IFTTT
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India's affluent are taking instant personal loans to protect long-term investments

Indian banks are seeing a rise in personal loan applications from affluent savers who prefer to keep investments intact. This trend, driven by convenience and financial strategy, sees borrowers using credit for immediate needs like home renovations and travel, rather than liquidating assets. Lenders are adapting with faster approvals and attractive rates for financially stable customers. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/01VEAmk via IFTTT
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Banks may have to pay more on CDs, bulk deposits in March

Indian banks are bracing for higher funding costs on certificates of deposit and large-ticket deposits, as robust year-end credit demand collides with a liquidity squeeze. With the credit-to-deposit ratio at a record high, lenders see borrowing rates staying elevated at least until March, complicating efforts to sustain strong loan growth while protecting margins. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/rLgw68M via IFTTT
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