Rishi Gupta announces early retirement from Fino after GST arrest
Rishi Gupta, who led Fino Payments Bank as CEO and managing director, has announced his early retirement.
The bank confirmed his exit on Thursday. Gupta said he's ready to explore new opportunities outside Fino but didn't share what's next for him.
His decision follows his arrest months before the article's publication under India's GST law.
Fino names Ketan Merchant interim CEO
The bank clarified that Gupta's arrest was tied to a wider investigation involving business partners, not any wrongdoing by Fino itself.
After checking all the facts, the board had previously allowed him to stay on as CEO.
With Gupta leaving, Ketan Merchant will step in as interim CEO for up to three months starting May 27 (pending regulatory approval), and Anup Agarwal will continue as interim CFO from July 6.
Meanwhile, Fino is also working toward becoming a small finance bank to expand its services.