India, May 22 -- Under regulatory scanner, Rishi Gupta has stepped down as the managing director (MD) and chief executive officer (CEO) of Fino Payments Bank.

Meanwhile, the company's board approved the extension of the tenure of Ketan Merchant as the interim CEO of the payments bank for a period of three months, subject to RBI approval. It also extended the tenure of Anup Agarwal as the interim CFO of the company till July 2026.

In a filing with the exchanges, Fino Payments Bank said that its board accepted Gupta's request for voluntary early retirement, effective May 21, despite finding him 'fit and proper' to continue as MD and CEO of the Bank. With this, he will cease to be a key managerial personnel (KMP) and senior managerial pers...