Fino Payments Bank Limited has informed the Exchange regarding Notice of Postal Ballot
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Fino Payments Bank has withdrawn one of the two resolutions in its ongoing postal ballot, specifically the re-appointment of Mr. Rishi Gupta (MD & CEO) for a 3-year term from May 2, 2026 to May 1, 2029. The Board took this decision on March 26, 2026 after Mr. Gupta was arrested in an investigation involving program managers at multiple banks (the Bank clarified the matter is unrelated to its GST compliance); he was granted bail on the same day. The Bank emphasized that Mr. Gupta's candidature is not abandoned and the resolution will be re-tabled later, subject to RBI's view and a re-assessment of his fit-and-proper status. The second resolution — payment of Rs. 5.70 crore remuneration to Mr. Gupta for FY 2024-25 (Rs. 2.44 cr fixed + Rs. 3.26 cr variable) — remains valid. E-voting ends March 29, 2026, any votes on the withdrawn resolution will be treated as null and void, and results will be declared by March 31, 2026.
Leadership uncertainty at a critical juncture as the Bank pursues conversion from a Payments Bank to a Small Finance Bank; the legal overhang around the MD&CEO could weigh on the stock in the near term, though the Bank has stressed that day-to-day operations and customer services remain stable and uninterrupted.