Brief: Fino Payments Bank Says KPMG Investigation On Misappropriation Of Funds Show Unauthorized Actions By Staff

FINO Payments Bank

24/01/2025 14:21

Jan 24 (Reuters) - Fino Payments Bank Ltd  FINY.NS :
    * KPMG INVESTIGATION ON MISAPPROPRIATION OF FUNDS SHOW
UNAUTHORIZED ACTIONS BY STAFF
    * IDENTIFIED EMPLOYEES TERMINATED ON OCTOBER 27, 2023
    * BASIS KPMG REPORT TOTAL ALLEGED COMPLAINT AMOUNT IS 355.5
MILLION RUPEES
    * TOOK DISCIPLINARY ACTIONS AGAINST IDENTIFIED EMPLOYEES,
FILED
POLICE COMPLAINTS
    * TERMINATED AGREEMENTS WITH SOME MERCHANTS IN BREACH OF
BANK’S
PRESCRIBED PROCESS

Source text:  ID:nBSE3fqS0P 
Further company coverage:  FINY.NS 

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