Fino Payments Bank: RBI Extends Interim CEO Ketan Merchant
Why in the news
The central bank allowed Fino Payments Bank’s interim chief executive to stay on for another three months. His appointment followed a leadership vacuum at the bank.
Key facts
- Regulator action: RBI approved a three-month extension.
- Person: Ketan Merchant, Interim CEO, Fino Payments Bank.
- Why interim: former MD and CEO Rishi Gupta was arrested in a GST-related fraud case.
- Credit to Merchant: key role in the bank’s IPO and listing on NSE and BSE.
| Item | Detail |
|---|---|
| Bank | Fino Payments Bank |
| Interim CEO | Ketan Merchant |
| Extension | Three months, approved by RBI |
| Previous MD and CEO | Rishi Gupta (arrested in GST-related fraud case) |
Exam angle
- Likely question: who regulates such CEO appointments and who is the interim head.
- Name tags: Ketan Merchant; Rishi Gupta.
- Term tags: payments bank, interim CEO, IPO, NSE, BSE.