Latest news with #FinoPaymentsBank
The Print
09-05-2025
- Business
- The Print
Three held for Rs 400 crore cyber fraud
The matter came to light when a complaint was lodged against Fino Payments Bank by Hari Singh at Dholpur Cyber Police Station. Bharatpur Range Inspector General of Police Rahul Prakash said the arrested accused were identified as Ravindra Singh (54), Dinesh Singh (49) and his wife Kumkum. Jaipur, May 9 (PTI) Bharatpur Police on Friday said it has arrested three persons associated with a fintech company for allegedly committing cyber fraud to the tune of Rs 400 crore. According to Director General of Police (Cyber Crime) Hemant Priyadarshi, investigations revealed that Rs 35 lakh received from the complainant has been transferred to the accounts of four companies — Rukanek Enterprises Private Limited, Selva Krishna IT Solution Private Limited, SKRC Infotech Private Limited and Nityashree Main Power and Contract Works. The cyber crime DGP said that during the investigation, a shocking fact came to light — there were about 3,000 complaints registered against the bank. This has now crossed 4,000, he said. The DGP said the gang has been siphoning off funds by forwarding fake links to people after luring them into making stock market investments. In the last four months, fraudulent transactions to the tune of more than Rs 400 crore have taken place in the accounts of these companies, he said. He said further investigation is on in the case and there are possibilities that the actual amount siphoned off by the gang may cross Rs 1,000 crore. The kingpin of the gang was Ravindra Singh, who has done an MBA (Master of Business Administration), while his nephew Shashi Kant Singh technically assisted him, the DGP added. PTI AG RUK RUK This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
06-05-2025
- Business
- Time of India
Fino Payments Bank plans to double Bengal revenue in 3 yrs
1 2 Kolkata: Fino Payments Bank, which deals with customers through grocery merchants, phone and medical stores, plans to double its Bengal market revenue in the next three years. Currently, the bank has around 4 lakh customers in the state and over 1.3 lakh affiliated Gupta, MD and CEO of the bank, said: "In the last fiscal, we saw around 4% revenue growth in the Bengal market and we are planning to double this by 2028. Our overall year-on-year business growth in the state is about 10%."In Bengal, the bank's major business comes from segments like CASA, micro-ATM or Aadhaar Enabled Payment System (AePS) and direct financial transaction (DFT)."The CASA growth in this state is about 3% and business in this segment mostly comes from Kolkata and a few districts. Every month, about 3,000 customers open CASA in Bengal. Our major business is seen in the segment of micro ATM or AePS from Bankura, Birbhum, Burdwan, Malda and Murshidabad," Gupta bank is exploring more networks to expand. "Merchants serve as branches for our offline business. So, our focus area is strengthening this network. We have two branches in Murshidabad and Siliguri. Opening a branch in Kolkata is on our agenda. Overall, we achieved 25% revenue growth — 10% from offline business and 15% from digital banking," he bank has also introduced a referral gold loan operated through merchants.
