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Fino Payments Bank CEO Rishi Gupta Arrested; CFO Ketan Merchant Assumes Leadership
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Fino Payments Bank MD & CEO Rishi Gupta Arrested; CFO Ketan Merchant Takes Charge
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CNBC TV18
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27-02-2026, 23:41
Fino Payments Bank MD & CEO Rishi Gupta Arrested; CFO Ketan Merchant Takes Charge
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Fino Payments Bank MD & CEO Rishi Gupta arrested under CGST and SGST Act, 2017 on February 27, 2026.
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The bank clarified the investigation relates to business partners, not its own GST compliance, and no other officials are involved.
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Ketan Merchant, CFO, appointed as Head of Organisation to manage day-to-day operations in Gupta's absence.
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Bank assures no impact on operations or financials, emphasizing strong corporate governance and compliance.
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Fino Payments Bank reported a 1.3% YoY net profit increase to ₹23.1 crore in Q3, with revenue up 25% to ₹461.3 crore.
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