Fino Payments Bank gets RBI nod for extension of tenure of Ketan Merchant as interim CEO

The extension would be effective from 27 August 2026 or till the date of taking charge of regular MD & CEO, whichever is earlier.

The announcement was made post market hours yesterday, 26 August 2026.

Fino Payments Bank, a subsidiary of Fino Paytech, is a technology-led, asset-light digital bank serving emerging India. Backed by marquee investors including ICICI Group, BPCL, Blackstone, LIC, and IFC, Fino operates a high-volume, low-cost model focused on financial inclusion. The bank has received ?In-principle? approval from RBI to convert into a small finance bank on 5th December 2025, making it the first payments bank to achieve this distinction.

The bank had reported a standalone net loss of Rs 13.72 crore in the quarter ended June 2026 as against net profit of Rs 17.76 crore during the previous quarter ended June 2025. Total operating income rose 18.43% to Rs 72.23 crore in Q1 FY27 over Q1 FY26.

The scrip shed 0.55% to currently trade at Rs 144.90 on the BSE.

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