Fino Payments Bank just got Reserve Bank of India's approval to bring in Pratap Singh as its new managing director and CEO, with effect from November 27, 2026, or the date he takes charge, whichever is earlier.
The move still needs shareholders' approval, but the bank says it will notify the stock exchanges once Singh formally takes charge as MD & CEO.
Fino Payments shares down over 50%
Singh's appointment comes at a tricky time: Fino Payments Bank's stock has dropped over 50% this year, though it did get a small boost after the news.
He is no stranger to banking, with stints at ICICI Bank and SBI UK, plus an MBA from Maastricht School of Management.
The hope is his experience in digital transformation and retail banking will help turn things around.