Fino Payments Bank has received approval from the Reserve Bank of India (RBI) to continue the tenure of Ketan Merchant as Interim Chief Executive Officer for another 3 months.
The extension will be effective from May 27, 2026, according to a regulatory filing submitted by the bank on May 26, 2026.
The bank said the RBI conveyed its approval through a letter dated May 25, 2026. The latest filing was issued in continuation of an earlier communication made on May 21 regarding the interim leadership arrangement.
The disclosure was submitted to both the BSE and the NSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The filing did not provide details on the appointment of a permanent chief executive. With the extension, Merchant will continue to oversee the bank’s operations under the interim arrangement for another quarter.
Payments banks function under a separate regulatory framework set by the RBI. These banks are permitted to offer deposit, remittance, and digital payment services but operate with certain restrictions compared to full-service commercial banks.
The communication was signed by Basavraj Loni, Company Secretary and Compliance Officer of Fino Payments Bank. The filing was issued from Navi Mumbai, where the bank’s registered office is located.
Fino Payments Bank also said the disclosure regarding the extension would be made available on its website as part of standard compliance procedures.
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As of May 27, 2026, 12:02 pm, Fino Payments Bank share price was trading at ₹133.90, up 4.69% from the previous closing price.
The RBI’s approval keeps the current interim management structure in place for an additional 3 months beginning May 27, 2026, pending further decisions by the bank.
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Published on: May 27, 2026, 1:13 PM IST
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