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Fino Payments Bank MD Rishi Gupta Arrested; CFO Ketan Merchant Named Interim Head
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According to an official statement, Chief Financial Officer Ketan Merchant has been appointed as the Head of the Organisation.
Rishi Gupta, Managing Director and Chief Executive Officer of Fino Payments Bank
Rishi Gupta, Managing Director and Chief Executive Officer of Fino Payments Bank, has been arrested under the provisions of the Central Goods and Services Tax (CGST) Act and the State Goods and Services Tax (SGST) Act, the bank informed stock exchanges on Friday.
In its regulatory filing, the bank said the arrest took place earlier in the day. It clarified that the investigation is related to certain business partners of the bank.
Following Gupta’s arrest, Chief Financial Officer Ketan Merchant has been appointed as the Head of the Organisation, the filing stated.
The development was disclosed through an official communication to the exchanges. Further details regarding the nature of the investigation were not immediately available.
February 27, 2026, 23:26 IST
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