Bank’s clarification on arrest of Fino Bank CEO: Case of GST evasion of ₹3,000 crore by partner company; Shares recover after falling 15%
On the arrest of Fino Payments Bank MD Rishi Gupta, the bank says that this matter is not related to the functioning of the bank or tax compliance. This is part of the ongoing investigation against external partner companies. GST Intelligence had arrested Rishi Gupta on 27 February. This is the biggest action ever taken…