Fino Payments Bank CEO arrest rattles fintech industry; Payments Council writes to FM

The Payments Council of India (PCI), which represents digital payments companies, has written to finance minister Nirmala Sitharaman seeking urgent intervention and calling for greater proportionality in enforcement action. Several industry leaders, including Navin Surya, founder-chairman of the Fintech Convergence Council, Vishal Gondal of Goqii and Alok Mittal of Indifi, also expressed support for Gupta on social media.