India, March 4 -- Fino Payments Bank said it remains focused on its transition into a small finance bank (SFB), even as it deals with the fallout of the arrest of its MD and CEO Rishi Gupta for alleged GST evasion.

During a call with investors, the management of Fino Payments Bank stressed that there is no impact on its transition to becoming a small finance bank and preparations continue as planned within the regulatory timeline granted by the RBI.

CFO Ketan Merchant, who has been appointed as the interim head following Gupta's arrest, said the bank proactively engaged with regulators, including the RBI and the stock exchanges, and has not received any communication suggesting a disruption to its SFB transition.

The bank had received ...