New Delhi | February 28, 2026
Fino Payments Bank Managing Director and CEO Rishi Gupta was arrested on Friday by the Directorate General of GST Intelligence under provisions of the CGST and SGST Acts.
The bank informed market regulator Securities and Exchange Board of India that the case is linked to a business partner and is not directly related to the bank’s own liabilities.
Chief Financial Officer Ketan Merchant is currently overseeing operations.
Private Hospitals’ Revenue Seen Growing Up to 15%
Private hospitals are expected to report revenue growth of 14–15% in the next fiscal year, according to a report by CRISIL Ratings.
The agency noted that strong occupancy rates, continuous expansion of bed capacity, and new facility additions are likely to drive growth.
This would mark the fifth consecutive year of double-digit revenue growth for the sector. In FY 2024–25, private hospital revenue stood at ₹78,500 crore.
Karnataka’s Fifth State Finance Commission Submits Report
The Fifth State Finance Commission of Karnataka has submitted its report for the 2026–2030 period concerning city corporations under the Greater Bengaluru Authority region.
The report was presented to Governor Thawar Chand Gehlot and Chief Minister Siddaramaiah, and later handed over to Deputy Chief Minister D. K. Shivakumar.
Commission Chair C. Narayanaswamy led the delegation, along with members and officials. The report includes recommendations to strengthen urban financial management, improve revenue and expenditure frameworks, and enhance local governance systems.
Bank of Baroda Plans ₹10,000 Crore Green Bond Issue
Bank of Baroda is planning to raise up to ₹10,000 crore through green infrastructure bonds.
Sources indicate a base issue size of ₹5,000 crore, with a greenshoe option of an additional ₹5,000 crore in case of oversubscription.
The bidding is scheduled for March 4 on the National Stock Exchange of India electronic book platform.
IIFL Home Finance Secures $300 Million Loan from ADB
IIFL Home Finance has signed a $300 million (₹2,700 crore) external commercial borrowing agreement with the Asian Development Bank.
MD and CEO Girish Kousgi stated that this marks the company’s first external commercial borrowing. The funding is expected to support affordable housing expansion across various markets.
Summary of Key Developments
Fino Payments Bank MD arrested in GST probe
Private hospital revenues projected to grow 14–15%
Karnataka Finance Commission submits 2026–2030 report
Bank of Baroda to raise ₹10,000 crore via green bonds
IIFL Home secures $300 million ADB loan
