Fino Payments Bank Appoints Ketan Merchant as Interim Chief Executive Officer (CEO) and Anup Agarwal as Interim Chief Financial Officer (CFO)

Key facts

• The board of Fino Payments Bank has approved the appointment of Ketan Merchant as Interim CEO, subject to approval from the Reserve Bank of India (RBI).
• Merchant will carry out the duties of the Managing Director (MD) and CEO under the Banking Regulation Act for a period not exceeding four months from the date of RBI approval.
• Anup Agarwal has been appointed as the Interim CFO for a period of up to four months with effect from 6 March 2026.
• The appointments follow the arrest of MD and CEO Rishi Gupta by the Directorate General of GST Intelligence (DGGI) in connection with an alleged Goods and Services Tax (GST) evasion probe.
• Merchant joined the bank in 2018 and has over 27 years of banking experience, including previous roles at HSBC, Standard Chartered, and Barclays.
• Agarwal is a Chartered Accountant with around 20 years of experience and has been associated with the bank since June 2022, leading Finance – Investor Relations & Analytics.