Fino Bank MD and CEO Rishi Gupta arrested
27 Feb 2026, 09:41 PMGupta has been arrested under the CGST Act, 2017 and the SGST Act, 2017.
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Fino Payments Bank Ltd on Friday said its Managing Director and CEO Rishi Gupta, has been arrested under the CGST Act, 2017 and the SGST Act, 2017.
"Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to inform that an arrest has been made of Mr. Rishi Gupta, Managing Director of Fino Payments Bank Limited under the provisions of section 132(1)(a) and 132(1) (i) of CGST and SGST Act, 2017, respectively on February 27, 2026," the company said in its exchange filing.
Fino Bank chief financial officer Ketan Merchant has been 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 Gupta.
The exchange filing stated, "Investigation is relating to business
partner(s) of the Bank and not relating to
the GST compliance of the Bank. The Bank
is co-operating with the authorities to
provide all the necessary information.
Presently there is no impact on the Bank. The arrest has been done only in respect
of Mr. Rishi Gupta, MD & CEO of the Bank."
It also said that the information has been disclosed to the Reserve Bank of India.
Fino Payments Bank, was founded in 2006 as a payments technology company. It became the first profitable payments bank in 2020 and was listed on the bourses in 2020.
Gupta has been part of the founding team of Fino since 2006 when he was responsible for responsible for finance and corporate functions including strategic alliances.
Just last month, the board of Fino Payments Bank had reappointed Gupta as managing director and CEO for a period of three consecutive years commencing from May 2, 2026 till May 1, 2029.
Earlier in December 2025, Fino Payments Bank received preliminary approval from the RBI to transform into a Small Finance Bank.
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