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Fino Payments Bank MD and CEO Rishi Gupta arrested; CFO Ketan Merchant takes chargeShares of Fino Payments Bank Ltd ended at ₹192.45, down by ₹15.60, or 7.50%, on the BSE.By Jomy Jos Pullokaran  February 27, 2026, 9:30:29 PM IST (Updated)2 Min ReadFino Payments Bank Ltd on Friday (February 27) said its Managing Director and CEO, Rishi Gupta, has been arrested under the CGST Act, 2017 and the SGST Act, 2017.

"...we would like to inform that an arrest has been made of Rishi Gupta, Managing Director (“MD & CEO”) of Fino Payments Bank Limited (“Bank”) under the provisions of section 132(1)(a) and 132(1) (i) of the CGST and SGST Act, 2017, respectively on February 27, 2026," according to a stock exchange filing.

The bank said the investigation relates to business partners of the bank and not to its GST compliance. It stated that none of the bank’s officials is involved and that officials are cooperating with the investigation.

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The arrest has been made only in respect of Rishi Gupta. The bank said there is presently no impact on its operations or financials and that any future impact will be disclosed to the stock exchanges. The matter remains under review.

A special board meeting was convened today, during which it appointed Ketan Merchant, Chief Financial Officer, as Head of the Organisation to oversee the bank’s day-to-day operations in the absence of Rishi Gupta, until otherwise decided by the board or until he resumes office, whichever is earlier.

Third Quarter Results

For Q3, Fino Payments Bank's net profit rose 1.3% year-on-year to ₹23.1 crore from ₹22.8 crore. Sequentially, profit grew 9% from ₹21.15 crore. Net interest income (NII) surged 34.7% year-on-year to ₹23.7 crore, while revenue increased 25% to ₹461.3 crore.

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Revenue growth was driven by strong growth in its digital payments business, which contributed 24% of total revenue, up from 8% in Q3 FY24. EBITDA saw a 19% year-on-year increase to ₹60.2 crore.

The bank’s customer base grew 33% to 1.34 crore, with 8.3 lakh new accounts opened in the quarter, including over 70,000 digital accounts. Average deposits jumped 39% year-on-year to ₹1,890 crore.

Shares of Fino Payments Bank Ltd ended at ₹192.45, down by ₹15.60, or 7.50%, on the BSE.

Also Read: Fino Payments Bank Q1 Results | Net interest income jumps 53% but profit dwindlesContinue Reading(Edited by : Jomy Jos Pullokaran)First Published: Feb 27, 2026 9:17 PM ISTTagsFino Payments Bankshare market today