Ketan Merchant's Tenure as Interim CEO Extended

The Reserve Bank of India has approved the extension of Ketan Merchant's tenure as interim CEO of Fino Payments Bank for another three months. This follows the earlier approval after the arrest of former CEO Rishi Gupta. The bank's shares rose following the announcement.

The Reserve Bank of India has approved the extension of Ketan Merchant's tenure as interim CEO of Fino Payments Bank for a further three months starting May 27, 2026. This comes after an earlier sanctioning by RBI for a temporary term lasting three months following CEO Rishi Gupta's arrest.

Fino Payments Bank announced that this development was subject to regulatory approval, which has now been granted. Shares of the bank observed a rise, closing at Rs 128.70, an increase of 2.71 percent on BSE.