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The latest announcement is out from FINO Payments Bank Ltd. ( (IN:FINOPB) ).
Fino Payments Bank has disclosed that its Managing Director and CEO, Rishi Gupta, was arrested on February 27, 2026, under provisions of the CGST and SGST Acts in connection with an investigation linked to the bank’s business partners. The bank emphasized that the probe does not relate to its own GST compliance, that no other bank officials are involved, and that it is fully cooperating with authorities while keeping the Reserve Bank of India informed.
In response, the board convened a special meeting and appointed Chief Financial Officer Ketan Merchant as Head of the Organization to oversee day-to-day operations in Gupta’s absence, in an effort to ensure continuity and stability. The bank stated that there is currently no operational or financial impact, and it has committed to informing stock exchanges of any future material developments arising from the investigation.
More about FINO Payments Bank Ltd.
Fino Payments Bank Limited is an Indian payments bank headquartered in Navi Mumbai, operating in the financial services sector with a focus on digital and branchless banking. The bank works with business partners to deliver payment and transaction services, targeting underserved and mass-market customers through a technology-led distribution network.
Average Trading Volume: 24,174
Technical Sentiment Signal: Sell
Current Market Cap: 17.07B INR
Find detailed analytics on FINOPB stock on TipRanks’ Stock Analysis page.