RBI Approves Appointment of Ketan Merchant as Interim CEO of Fino Payments Bank
In March 2026, the Reserve Bank of India (RBI) approved the appointment of Ketan Merchant, Chief Financial Officer (CFO) of Fino Payments Bank, as the interim Chief Executive Officer (CEO) of the bank.
In March 2026, the Reserve Bank of India (RBI) approved the appointment of Ketan Merchant, Chief Financial Officer (CFO) of Fino Payments Bank, as the interim Chief Executive Officer (CEO) of the bank.
- He will perform the duties of the Managing Director (MD) and CEO under the provisions of the Banking Regulation Act, 1949, for a period not exceeding four months from the date of approval by the RBI.
Key Leadership Appointments:
Predecessor: He succeeded Rishi Gupta, MD and CEO of Fino Payments Bank, who stepped aside after being arrested in connection with alleged Goods and Services Tax (GST) violations.
Interim CFO: The board also approved the appointment of Anup Agarwal as the Interim Chief Financial Officer (CFO) for a period of up to four months, effective from 6 March 2026.
Transition to SFB: In December 2025, the RBI granted in-principle approval to Fino Payments Bank to convert into a Small Finance Bank (SFB), with 18 months to complete the transition.
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