Fino Payments Bank MD Rishi Gupta
Fino Payments Bank MD, CEO Rishi Gupta, has been arrested under the provisions of the GST Act, the payments bank informed exchanges today.
“We would like to inform that an arrest has been made of Mr. Rishi Gupta, Managing Director (“MD & CEO”) of Fino Payments Bank Limited (“Bank”) under the provisions of section 132(1)(a) and 132(1) (i) of CGST and SGST Act, 2017, respectively on February 27, 2026,” the bank said.
Further, the bank conducted a special Board Meeting wherein current CFO Ketan Merchant has been appointed as the Head of the Organisation by the Board to carry on and oversee the day-to-day operations of the Bank.
The bank said the investigation is related to the bank’s business partners, not to its GST practices. There is no impact on the bank, and none of the bank’s officials is involved in this investigation, per the exchange filing. The bank has informed the RBI about the development.
Published on February 27, 2026
