Fino Payments Bank CEO Rishi Gupta Arrested
Analysis based on 10 articles · First reported Feb 27, 2026 · Last updated Feb 28, 2026
The arrest of Rishi Gupta, MD and CEO of Fino Payments Bank, under GST acts, has created uncertainty for Fino Payments Bank, despite the bank's assurances that the investigation is not related to its own GST compliance. This event could negatively impact investor confidence in Fino Payments Bank, especially given its recent financial struggles and ongoing transition to a Small Finance Bank.
Rishi Gupta, the Managing Director and CEO of Fino Payments Bank, was arrested on February 27, 2026, under the provisions of the CGST and SGST Acts. Fino Payments Bank clarified that the investigation pertains to one of its business partners and not the bank's own GST compliance. Following the arrest, the bank's board convened a special meeting and appointed Ketan Merchant, the Chief Financial Officer, as the interim Head of the Organisation to manage day-to-day operations. Fino Payments Bank has informed the State Bank of India about the development and is cooperating with authorities, assuring investors that the arrest has no material impact on the bank's operations or other officials.
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