Fino Payments Bank Appoints Ketan Merchant as Interim CEO, Anup Agarwal as Interim CFO
Fino Payments Bank appointed Mr. Ketan Merchant as Interim CEO for up to 4 months, pending RBI approval. Mr. Merchant was previously CFO. Mr. Anup Agarwal was appointed Interim CFO for up to 4 months, effective March 06, 2026. A special consultant will review GST compliances.
The appointment of interim key managerial personnel is significant for the bank's operational continuity and strategic direction, warranting a medium impact assessment.
The appointment of interim leadership is a positive step towards ensuring continuity and stability within the bank's management, especially during a transition period.
Fino Payments Bank Limited has announced key interim leadership appointments following a Board of Directors meeting held on March 06, 2026.
Mr. Ketan Merchant has been appointed as the Interim Chief Executive Officer (Interim CEO) of the Bank. This appointment is to carry out the duties of MD & CEO as per Section 10B(9) of the Banking Regulation Act, 1949, for a period not exceeding four months, subject to the approval of the Reserve Bank of India (RBI). Mr. Merchant was previously the Chief Financial Officer / Head of the Organisation and has been re-designated to Interim CEO. He brings over 27 years of banking experience, having previously worked with HSBC, Standard Chartered, and Barclays Group. He joined Fino Payments Bank in 2018 and has been instrumental in its growth strategy, including its listing in 2021.
Concurrently, Mr. Anup Agarwal has been appointed as the Interim Chief Financial Officer (Interim CFO) of the Bank for a period not exceeding four months, effective March 06, 2026. Mr. Agarwal, a qualified Chartered Accountant with 20 years of experience, has been with the Bank since June 2022, leading Head Finance - Investor Relation & Analytics. His prior experience includes roles at Deutsche Bank India, Standard Chartered Bank India, and Maersk Group, focusing on financial reporting, regulatory reporting, and financial analytics.
Additionally, the Board approved the appointment of a special consultant to conduct a review of GST compliances and other aspects, based on the recommendation of the Audit Committee. The Board meeting commenced at 05:27 p.m. (IST) and concluded at 07:20 p.m. (IST).
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Fino Payments Bank Limited filed this with the NSE as a statutory disclosure, categorised under key management changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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