Mumbai, April 13 (IANS) The Reserve Bank of India (RBI) has returned the universal banking licence application filed by Ujjivan Small Finance Bank (SFB) on the grounds that the lender has not sufficiently diversified its asset book to qualify for it, according to an exchange filing.“The RBI, through their aforesaid letter, took note of the Bank’s recent efforts towards diversification of its loan portfolio. However, they were of the view that there is scope for progress in this area. Therefore…
Latest Fino Payments Bank News & Updates
New Delhi, Feb 28 (IANS) Union Finance Minister Nirmala Sitharaman said on Saturday that she would look into the issue of the arrest of Fino Payments Bank’s Managing Director (MD) and Chief Executive Officer Rishi Gupta after IT industry leader and former Infosys Chief Financial Officer (CFO) Mohandas Pai flagged GST’s overreach and requested the Finance Minister’s intervention in a social media post. Gupta was arrested on Friday under the Central Goods and Services Tax Act and the State Goods a…
New Delhi, Feb 27 (IANS) Fino Payments Bank on Friday said in an exchange filing that its Managing Director and Chief Executive Officer (CEO), Rishi Gupta, has been arrested under provisions of the CGST and SGST Acts.The exchange filing said that an “arrest has been made of Mr. Rishi Gupta, Managing Director (MD and CEO) of Fino Payments Bank Limited (Bank) under the provisions of section 132(1)(a) and 132(1) (i) of CGST and SGST Act, 2017, respectively on February 27, 2026.”According to the…