Fino Payments Bank board extends interim CEO's tenure by another 3 months
Fino Payments Bank on Monday said its board has approved the extension of tenure of Ketan Merchant as interim CEO for a period of three months effective from August 27, 2026.
The decision of Nomination & Remuneration Committee of the board is subject to approval of Reserve Bank of India (RBI), the bank said in a regulatory filing.
RBI had last extended tenure of Merchant for a further period of three months with effect from May 27, 2026.
Merchant was appointed interim CEO following the arrest of its managing director and CEO Rishi Gupta for violating laws related to the Goods and Services Tax in February.
Directorate General of GST Intelligence (DGGI) arrested Gupta for alleged use of shell companies and payment aggregators to funnel illicit funds generated by online money gaming.
Prior to appointment as interim CEO, Merchant was serving as Chief Financial Officer of the bank.
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