The arrest of Mr Gupta has been made under the provisions of section 132(1)(a) and 132(1) (i) of CGST and SGST Act, 2017
FinTech BizNews Service
Mumbai, 27 February 2026: Pursuant to Regulation 30 of the SEBI Listing Regulations, the Board of Fino Payments Bank has today informed the NSE 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. Further, in this regard a special Board Meeting was convened today wherein Mr. Ketan Merchant, Chief Financial Officer of the Bank was appointed as a Head of the Organization by the Board to carry on and oversee the day-to-day operations of the Bank in absence of Mr. Rishi Gupta, Managing Director & CEO of the Bank until otherwise resolved by the Board or till Mr. Rishi Gupta resumes office, whichever is earlier. The meeting of the Board of the Bank commenced at 06.45 p.m. (IST) and concluded at 07.06 p.m. (IST).
The details required under Regulation 30 of SEBI Listing Regulations read with SEBI Master circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated July 11, 2023 (updated on January 30, 2026) are enclosed herewith as Annexure - I.
The Bank is actively taking appropriate measures to address and overcome the above situation. This disclosure will also be available on the Bank’s website at www.fino.bank.in
