Fino Payments Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on May 21, 2026.
FINOPB · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mr. Rishi Gupta, Managing Director and CEO of Fino Payments Bank, has resigned effective May 21, 2026. The resignation comes despite the Board concluding there was no prima facie case against him following an investigation by the Directorate General GST Intelligence, Hyderabad. Gupta, a founding member of Fino group, voluntarily chose early retirement after two decades with the company. The Bank stated operations remain stable with no impact on services. Mr. Ketan Merchant will continue as Interim CEO for up to 3 months from May 27, 2026 (subject to RBI approval), and Mr. Anup Agarwal continues as Interim CFO for up to 3 months from July 6, 2026. Under Gupta's leadership, Fino became the first profitable and listed payments bank in India and received RBI's in-principle approval for Small Finance Bank conversion.
The sudden resignation of the founding CEO creates leadership uncertainty, though the Bank has provided reassurances about operational stability. The stock may face short-term pressure given the GST investigation context and loss of the key architect behind Fino's growth and Small Finance Bank transition plans. The extension of interim management for only 3 months indicates a pending search for permanent leadership.