FINOPB: Rishi Gupta Resigns as MD & CEO; Ketan Merchant as Interim CEO Extended
Rishi Gupta has voluntarily retired as MD & CEO of Fino Payments Bank, effective May 21, 2026. The Board accepted his resignation and extended Ketan Merchant's term as Interim CEO for up to 3 months from May 27, 2026, subject to RBI approval. Anup Agarwal's tenure as Interim CFO was also extended for up to 3 months from July 06, 2026.
Changes in key management can have a moderate impact as the CEO's departure and interim appointments could influence the company's strategic direction and investor confidence.
The announcement primarily involves changes in key management personnel, with no indication of positive or negative financial impact. The retirement of the CEO is presented as a voluntary decision, and interim replacements are in place to ensure continuity.
Fino Payments Bank Limited announced the voluntary early retirement of Mr. Rishi Gupta from the position of Managing Director & Chief Executive Officer (MD & CEO), effective May 21, 2026 (after the end of business day). Mr. Gupta cited personal reasons for his departure, expressing a desire to explore new avenues after two decades with the Fino group. The Board has accepted his request and acknowledged his significant contributions to the bank, including its transition to a profitable listed entity and securing in-principle approval from RBI for conversion to a Small Finance Bank.
The Board also approved the extension of Mr. Ketan Merchant's tenure as Interim Chief Executive Officer for a period not exceeding 3 months, effective from May 27, 2026, subject to RBI approval. Additionally, Mr. Anup Agarwal's term as Interim Chief Financial Officer has been extended for a period not exceeding 3 months, effective from July 06, 2026. Both Mr. Merchant and Mr. Agarwal will continue to serve as Key Managerial Personnel and Senior Managerial Personnel of the Bank during their extended terms.
The Board of Directors meeting, which commenced at 05:45 p.m. (IST) and concluded at 07:20 p.m. (IST), addressed these changes. The bank has affirmed that these leadership transitions will not disrupt its operations or services and that it remains focused on operationalizing its Small Finance Bank license within the timelines prescribed by the Reserve Bank of India.
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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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