Fino MD Gupta arrested over forged KYC in PMAY loan

Source: the-ken.com

Mumbai Police arrested Rishi Gupta, managing director of digital lending platform Fino Paytech, over allegations of forging KYC documents for a customer's Pradhan Mantri Awas Yojana (PMAY) loan account. Gupta allegedly used his photo with someone else's details, which surfaced during a police probe into loan fraud. The case underscores vulnerabilities in fintech KYC practices, where executives' involvement in such lapses can erode trust and trigger stricter regulations.