Fino Payments Bank MD Rishi Gupta arrested under GST Act; Ketan Merchant appointed to lead operations

Fino Payments Bank MD Rishi Gupta

Fino Payments Bank MD, CEO Rishi Gupta, has been arrested under the provisions of the GST Act, the funds financial institution knowledgeable exchanges at present.

“We wish to inform that an arrest has been fabricated from Mr. Rishi Gupta, Managing Director (“MD & CEO”) of Fino Payments Bank Restricted (“Bank”) under the provisions of part 132(1)(a) and 132(1) (i) of CGST and SGST Act, 2017, respectively on February 27, 2026,” the financial institution stated.

Additional, the financial institution performed a particular Board Assembly whereby present CFO Ketan Merchant has been appointed because the Head of the Organisation by the Board to stick with it and oversee the day-to-day operations of the Bank.

The financial institution stated the investigation is expounded to the financial institution’s enterprise companions, not to its GST practices. There is no such thing as a impression on the financial institution, and not one of the financial institution’s officers is concerned on this investigation, per the change submitting. The financial institution has knowledgeable the RBI in regards to the growth.

Printed on February 27, 2026