Fino Payments Bank Ltd has paid Rs5.88 lakh to settle adjudication proceedings initiated by Securities and Exchange Board of India (SEBI) over alleged regulatory violations. The proceedings were initiated for alleged violations of SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, including failure to make timely and complete disclosure of material events related to fraudulent activities by its employees. SEBI had issued a chow cause notice (SCN) to the Bank on 8 October 2024, following complaints regarding fraudulent investment schemes orchestrated by certain employees. The incidents were considered material, given the significant impact on the company’s share price and the findings of an investigation conducted by KPMG. Despite receiving the investigatio

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