Fino In Freefall, And A Race Against The Clock

From regulatory approval to its CEO’s arrest, Fino Payments Bank’s fortunes seem to have flipped in a matter of weeks, triggering a stock crash and raising serious questions over governance and leadership

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The year began with a bang for Fino Payments Bank when the Reserve Bank of India cleared Rishi Gupta’s reappointment as MD and CEO for another three years, sending shares up nearly 9% to ₹227 on January 28. 

In less than 30 days, the bank went from regulatory validation into a full-blown crisis. Investor confidence rattled, stock got derailed, and clouds of uncertainty started........

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