Fino Payments Bank extends Ketan Merchant’s interim CEO tenure by up to three months
Fino Payments Bank’s board has approved a further interim tenure for Ketan Merchant effective August 27, for a period of up to three months, subject to RBI approval. The move follows former MD and CEO Rishi Gupta’s voluntary early retirement in May 2026.
What happened
Fino Payments Bank extended Ketan Merchant’s tenure as interim CEO by up to three months from August 27, subject to RBI approval. Former MD and CEO Rishi Gupta
Key facts
- 3 months
- August 27
- February 27
- 2018
- 2021
- May 21, 2026
Why this matters
The continued interim arrangement signals limited near-term appetite for major strategic moves, while a permanent CEO appointment could reset partnership, expansion, or transaction priorities.
What to watch
- RBI approval, conditions, or delay related to Merchant's interim extension.
- Announcement of a permanent MD and CEO candidate and the timing of RBI clearance.
- Any changes to board composition, senior management responsibilities, or appointment of a search adviser.
- Quarterly trends in deposits, transaction volumes, active outlets, fee income, and customer acquisition during the transition.
- RBI observations on governance, KYC/AML, technology resilience, or payments-bank compliance.
- Any indication that the interim tenure will need to be renewed beyond three months.
- Seek RBI approval for Ketan Merchant's extended interim tenure.
- Advance CEO candidate screening, including fit-and-proper, payments-bank, governance, and digital-distribution experience.
- Maintain heightened board and committee oversight over business continuity, compliance, risk, and strategic decisions.
- Communicate continuity plans to banking partners, investors, merchant networks, and field distribution agents.
- Avoid major strategic pivots or high-risk product changes until a permanent CEO is appointed.