Fino Payments Bank Shares Plunge 16% Amid Reports of Potential ED Probe

Shares of

ents Bank tumbled over 16% in early trading today, hitting a 52-week low, following media reports suggesting a possible Enforcement Directorate (ED) investigation into certain online gaming transactions linked to the lender. The sharp decline came despite the bank's swift clarification, where it firmly denied any involvement in gaming or betting. Fino reiterated that it does not directly or indirectly engage in, promote, or facilitate such activities through any platform, website, or channel. The reports stem from an ongoing probe by the Directorate General of GST Intelligence (DGGI) related to alleged GST evasion and suspicious fund routing via program managers and merchants. The bank emphasized full regulatory compliance and cooperation with authorities, stating the matter does not pertain to its own GST obligations. Investors reacted cautiously to the uncertainty, though the clarification helped limit some intraday losses. Fino Payments Bank continues to focus on its core digital banking and payment services