Banks / Fino Payments Bank
Banks / Fino Payments Bank
Interim MD & CEO, Fino Payments Bank — in office since 27 February 2026. Merchant is the bank's Chief Financial Officer and was elevated to interim charge after founding MD & CEO Rishi Gupta stepped back amid a GST-evasion probe. The RBI has since approved an extension of his interim tenure for a further three months effective 27 August 2026, "or till the date of taking charge of a regular MD & CEO, whichever is earlier" — indicating the leadership transition is still in progress as of this writing.
Founding MD & CEO Rishi Gupta — a co-founder of the bank who led it since its 2017 launch through its 2021 IPO — was arrested in February 2026 in connection with a GST-evasion investigation linked to the bank's programme managers in the real-money-gaming sector, and was granted bail in March 2026 with conditions (including surrendering his passport). A shareholder vote on his proposed three-year re-appointment was deferred pending the RBI's "fit and proper" review. Day-to-day leadership currently rests with Interim MD & CEO Ketan Merchant.
| Name | Role | Tenure |
|---|---|---|
| Ketan Merchant | Interim MD & CEO (also CFO) | Since 27 Feb 2026 (current; RBI-approved extension runs to ~27 Nov 2026 or until a regular MD & CEO takes charge) |
| Rishi Gupta | Founding MD & CEO | June 2017 – Feb 2026 (stepped back amid GST-evasion probe; granted bail Mar 2026; re-appointment under RBI review) |
Also reachable at 022-6868 1414 or by SMS to 78368 78368
9 AM – 7 PM, for account/service queries
24×7, for reporting unauthorised/fraudulent transactions
Under its RBI Payments Bank licence (2014 Payments Bank Guidelines), Fino Payments Bank is legally prohibited from issuing loans, credit cards, or any other credit/lending product of its own — it cannot function as an NBFC. Its own activities are limited to accepting deposits (subject to the RBI per-customer balance cap), offering savings/current accounts, debit cards, UPI/payments and remittances, and distributing third-party credit, insurance and investment products as a corporate agent/referral partner (e.g. "referral loan disbursements" reported in its results are loans booked by partner lenders, not by Fino itself). The bank has indicated plans to convert into a Small Finance Bank, which — if and when approved by the RBI — would allow it to lend directly in the future; as of today it still operates strictly as a Payments Bank.
Like other payments banks, Fino cannot offer traditional fixed/recurring deposits — it pays tiered savings-account interest on the daily balance held (subject to the RBI deposit cap). Rates below are fetched live from the official site where possible; otherwise the last published rates are shown.
Fino Payments Bank Limited is publicly listed (NSE/BSE: FINOPB) and does file standalone quarterly/annual results with SEBI/the stock exchanges, unlike some unlisted payments banks. FY 2025-26 figures below were a year of significant disruption (MD & CEO's arrest and the related GST-evasion probe, plus one-off charges) and different aggregators report conflicting full-year numbers for that year — treat the FY26 figures marked "~" as provisional pending confirmation from the bank's own results filing.
| Metric | FY 2025-26 (Mar 2026) | FY 2024-25 (Mar 2025) | FY 2023-24 (Mar 2024) | FY 2022-23 (Mar 2023) |
|---|---|---|---|---|
| Net Profit (Full Year) | ~₹52.46 Cr (provisional) | ₹92.53 Cr | ₹86.22 Cr | ₹65.08 Cr |
| Total Revenue / Income | Not independently confirmed in sources reviewed | ₹1,847.10 Cr | ~₹1,477 Cr (implied from YoY growth cited) | Not disclosed in sources reviewed |
| Total Deposits (Year-End) | ₹2,379.49 Cr | ~₹1,849 Cr (average, not year-end) | ₹1,410 Cr (+54% YoY) | ₹920 Cr |
| Basic EPS | ₹6.30 | Not disclosed in sources reviewed | Not disclosed in sources reviewed | Not disclosed in sources reviewed |
| Registered Customer Base | Not disclosed in sources reviewed | ~1.43 Cr (+33% YoY) | Not disclosed in sources reviewed | Not disclosed in sources reviewed |
| Metric | Q1 FY 2026-27 (Apr–Jun 2026) |
|---|---|
| Revenue | ₹306.9 Cr (-32% YoY) |
| Net Profit / (Loss) | (₹13.7 Cr) — turned negative |
| Average Total Deposits | ₹2,772 Cr (+12% YoY) |
| Referral Loan Disbursements (via partner lenders) | ₹628 Cr (+214% YoY) |
| Net Revenue Margin | 42.8% (record; +925 bps YoY) |