India's Fino Payments Bank at record low on report of ED probe

FINO Payments Bank

16/03/2026 09:30

** Fino Payments Bank FINY.NS slips 18% to a record low of 137 rupees; set to fall for a third straight session

** Lender may face ED probe as Directorate General of Goods and Services Tax Intelligence (DGGI) flags suspected money-laundering linked to online gaming transactions, Economic Times reports

** Bank clarifies probe reports "non‑factual and speculative"; says it's under DGGI inquiry

** Adds current DGGI probe relates to certain programme managers, merchants across multiple banks, not its own GST compliance

** Says no involvement in gaming or betting activities

** YTD, FINY down 35%

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))