Fino Payments Bank's UPI Transactions Decline Amid Regulatory Scrutiny and CEO Arrest

Fino Payments Bank has experienced a significant decline in its UPI transaction volume and value over recent months, with transactions dropping over 50% from 9.6 lakh in November 2025 to 4.6 lakh in January 2026. This downturn follows the arrest of CEO Rishi Gupta by the GST department over alleged tax evasion of Rs 840 crore. The bank's digital transaction count, throughput, and revenue have also decreased since Q4 FY25, reflecting regulatory pressures and business challenges.