Fino Payments Bank CEO Rishi Gupta seeks early retirement

India’s Fino Payments Bank announced on Thursday that Managing Director and CEO Rishi Gupta has opted for voluntary early retirement, several months after his arrest under the nation’s goods and services tax legislation.

Here are the details:

* Gupta said he wishes to pursue new opportunities outside the bank, without providing further specifics.

* The lender, however, stated that the board considered Gupta “fit and proper” to remain as MD and CEO after reviewing documents, including legal opinions and reports it received.

* Fino had earlier indicated that Gupta’s arrest was connected to an investigation concerning its business partners and was unrelated to the bank’s own GST compliance.

* The company said on Thursday it approved extending Ketan Merchant’s appointment as interim MD and CEO for up to three months, effective May 27, pending approval from the country’s central bank.

* It also extended Anup Agarwal’s role as interim CFO for up to three months, beginning July 6.

* Fino obtained the Reserve Bank of India’s approval last year to transition into a small finance bank, enabling it to accept larger deposits, provide loans and credit facilities, and expand beyond its currently limited payments bank scope.

Published on May 22, 2026