The development comes amid an ongoing investigation related to certain programme managers associated with multiple banks, including Fino Payments Bank.
The lender clarified that the investigation does not relate to the bank’s GST compliance.
Fino Payments Bank said it will continue to fully cooperate with the authorities as the probe progresses.
The bank added that its operations remain stable and uninterrupted and that it continues to serve its customers and stakeholders in the normal course of business.
According to the bank, it continues to witness healthy momentum in its core business. The lender said it has seen a sustained increase in deposits along with growth in referral assets.
Fino Payments Bank also said it will continue to engage constructively with regulators and other stakeholders.
The lender reiterated that despite the ongoing investigation involving programme managers associated with multiple banks, its business operations remain unaffected.
Also read: Telangana High Court dismisses Fino Payment Bank’s Rishi Gupta’s plea; Here’s what the HC said
Fino Payments Bank emphasised that it remains focused on maintaining operational stability and delivering services to customers while cooperating with the relevant authorities in the matter.
Shares of Fino Payments Bank closed at ₹123.70 on the NSE on March 25, up ₹11.24 or 9.99%.
