Fino Payments Bank MD and CEO Rishi Gupta has been arrested under the provisions of the GST Act, the payments bank informed exchanges on Friday.
Ketan Merchant, Chief Financial Officer of Fino Payments Bank, said that following the bank’s stock exchange disclosure dated February 27, 2026, it wants to reiterate that it has strong corporate governance standards, a robust compliance framework and well-established processes in place.
As a regulated entity, the bank complies with all applicable laws, including GST regulations.
“The issue is with regard to a GST investigation pertaining to programme managers who have relationships with other banks including Fino Payments Bank Limited. The bank and its MD & CEO – Mr Rishi Gupta have nothing to do with the actions of the programme managers. We have full faith in the country’s judiciary and will continue to extend full cooperation and assistance to the authorities in the ongoing process,” Ketan Merchant said.
Merchant added that the bank has full faith in the country’s judiciary and will continue to cooperate fully with authorities in the ongoing proceedings. He also assured customers, investors and other stakeholders that business operations will remain unaffected, and services will continue without interruption, reiterating the bank’s commitment to customer centricity.
Published on March 1, 2026
