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Fino Payments Bank’s crisis turns into a risky bet on small finance banking and lost digital revenue
Business
Published on 1 May 2026
A RBI rule wiped out key remittance earnings
Fino Payments Bank’s performance has sharply deteriorated since CEO Rishi Gupta’s arrest, with net profit collapsing and revenue sliding across quarters. The damage stems from an RBI circular that crippled bank-led remittances, stress in NBFC and microfinance clients that fund its cash management, and a pullback from digital payments after gaming-linked investigations. Yet management points to a booming deposit base and a potential edge for its upcoming small finance bank plans.
- Net profit fell 43% YoY in FY26 and dropped 70% in Q4
- RBI rules cut Fino’s remittance business, hitting it hardest in the sector
- NBFC and MFI stress reduced cash management throughput and revenue
- Digital payments pause may also delay groundwork for the SFB transition
Read the full story at Inc42
This summarization was done by Beige for a story published on 
Inc42