New Delhi: The Reserve Bank of India (RBI) has approved the appointment of Ketan Merchant as interim chief executive officer of Fino Payments Bank Ltd, the company said in a regulatory filing.
Merchant’s appointment will be effective for three months starting February 27, 2026, or until the regulator takes a final decision on the status of existing CEO Rishi Gupta, whichever is earlier.
The bank said the RBI granted approval for the interim arrangement through a letter dated March 6, 2026. The temporary appointment will remain in place until Gupta resumes office after a reassessment of his “fit and proper” status by the bank’s nomination and remuneration committee and board, followed by the regulator’s review.
Fino Payments Bank disclosed the development to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The move comes as the bank awaits regulatory clarity on the leadership position while ensuring continuity in operations through an interim management arrangement.