Fino Payments Bank shares in focus on Monday after CEO Rishi Gupta arrested; CFO named interim head

Shares of Fino Payments Bank are likely to be in focus when the markets open on Monday, following the arrest of the bank’s Managing Director (MD) and Chief Executive Officer (CEO), Rishi Gupta.

In a stock exchange filing released after market hours on Friday, the bank disclosed the arrest of its MD and CEO, Rishi Gupta. Gupta was taken into custody on Friday, February 27, 2026, under sections 132(1)(a) and 132(1)(i) of the central goods and services tax (CGST) and state goods and services tax (SGST) Act, 2017, it said.

Authorities officially issued the “ground of arrest" at 3:55 a.m. IST. “Investigation is relating to business partner(s) of the Bank and not relating to the GST compliance of the bank,” the bank said.

“Presently, there is no impact on the bank. In case of any impact in the future, appropriate disclosure will be made to the stock exchanges,” the bank added.

The company board appointed Ketan Merchant, the current chief financial officer (CFO), as the head of the organisation. Merchant would be overseeing the day-to-day operations in Gupta's absence, holding the fort until Gupta resumes office or the board makes a different resolution, the company said.

Meanwhile, in an earlier stock exchange filing dated January 28, the bank had announced that the RBI had approved Gupta's re-appointment as MD & CEO. Based on an RBI letter dated January 27, 2026, Gupta was slated to serve another three-year term starting May 2, 2026.

On Friday, shares of Fino Payments Bank declined 7.50 per cent to settle at Rs 192.45 apiece on the BSE, a steep drop from its previous close of Rs 208.05. The counter was battered during the session, slipping as much as 12 per cent to touch an intraday low of Rs 182.90. The stock has been on a downtrend, declining over 32 per cent in the last six months alone.