Fino Payments Bank Limited has informed the Exchange regarding Change in Director(s) of the company.
FINOPB · price
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On the reaction day the stock moved 2.3 pts more than Nifty Microcap 250 and 1.9 pts more than its Other Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mr. Rishi Gupta, Managing Director & CEO of Fino Payments Bank, has tendered voluntary early retirement effective May 21, 2026. The Board had previously received legal opinions regarding a Directorate General GST Intelligence (Hyderabad) investigation against him, and after review concluded no prima facie case existed, deeming him 'fit and proper' to continue. Despite the Board's positive assessment, Gupta chose to retire citing personal reasons after two decades with the organisation. The Board accepted his request and placed on record appreciation for his role in making Fino the first profitable and listed payments bank in India. Mr. Ketan Merchant's tenure as Interim CEO is extended for 3 months (subject to RBI approval), and Mr. Anup Agarwal's tenure as Interim CFO is extended for 3 months.
The sudden departure of the founding CEO amid a GST investigation creates governance uncertainty despite the Board's clearance. The stock may face short-term pressure as investors assess the leadership transition and potential regulatory risks during the bank's transition to a Small Finance Bank.