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Fino Payments Bank says it's focused on SFB transition

Fino Payments Bank's interim head Ketan Merchant stated the arrest of CEO Rishi Gupta will not affect the bank's transition to a small finance bank. He confirmed no abnormal impact on deposits. The issue involves program managers linked to the real money gaming business. The bank continues proactive engagement with the RBI. Customer balances and business volumes remain stable. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/4SeA0oW via IFTTT
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Fino says transition to small finance bank not impacted by CEO arrest

Fino Payments Bank is successfully moving towards becoming a small finance bank, with interim chief Ketan Merchant assuring stakeholders that the CEO's recent arrest won't hinder their plans or impact customer deposits. The bank maintains a strong line of communication with the RBI, and recent figures indicate healthy business activity and stable daily CASA openings. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/npOCSDJ via IFTTT
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State-run banks rolling out GCC, AI road map under EASE 9.0 reforms

Public sector banks are set to launch a global capability centre strategy by FY27. State Bank of India will lead this initiative. Banks will also develop advanced technology like AI stacks and blockchain. This move aims to modernize lenders and improve productivity. India's BFSI GCCs are projected for significant growth by 2032. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/TjQVbNa via IFTTT
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State Bank of India announces exit of Nitin Chugh as Deputy MD

SBI has relieved Nitin Chugh as Deputy Managing Director effective March 2, 2026, after completion of his contractual tenure. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/MVU1juk via IFTTT
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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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