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Fino Payments Bank's Interim CEO Ketan Merchant Gets Three-Month Extension From RBI
Ketan Merchant received a three-month extension from the RBI.
Stocks in news: ITC, LIC, Sun Pharma, Maruti Suzuki, Fino Payments Bank
Benchmark indices experienced a negative close on Thursday, marked by volatile trade and profit booking. Analysts anticipate the Nifty to continue its consolidation between 23,200 and 23,900. Several companies, including ITC, LIC, Sun Pharma, Maruti Suzuki, and Fino Payments Bank, are in focus due to Q4 results and other developments.
Fino Payments Bank Accepts Early Retirement Of CEO Rishi Gupta After GST Case-Arrest Row
File image of Fino Payments Bank CEO & MD Rishi Gupta
Fino Payments bank CEO Rishi Gupta resigns after 'fit and proper' clearance, interim chief extended
Fino Payments Bank board accepted Rishi Gupta's resignation as MD and CEO. This decision came even after the board found him fit and proper for a second term. Gupta had requested voluntary early retirement. The board also extended Ketan Merchant's interim CEO tenure for up to three months.
Fino Payments bank CEO Rishi Gupta resigns after 'fit and proper' clearance, interim chief extended
Fino Payments Bank board accepted Rishi Gupta's resignation as MD and CEO. This decision came even after the board found him fit and proper for a second term. Gupta had requested voluntary early retirement. The board also extended Ketan Merchant's interim CEO tenure for up to three months.
Sebi may allow third-party payments in mutual funds, ease transaction norms
The proposal marks a departure from current regulations that require that all mutual fund transactions must happen with the investor’s verified bank accounts, to enable maintenance of a digital trail.
Airtel Payments Bank Profit Surges 73% To Rs 109 Crore In FY26
Customer balances rose 26% to Rs 4,612 crore, Airtel Payments Bank said.
Fino Payments Bank April update: Deposits cross ₹2,800 crore, loan referral business triples
Fino Payments Bank reported steady growth in April 2026, with total deposits increasing 13% YoY to ₹2,801 crore and loan referrals tripling. However, profit after tax dropped 70% YoY to ₹7.1 crore, while transaction throughput fell 47% due to a shift to UPI.
Fino Payments Bank CASA accounts up 9% in April; loan referral disbursals jump 3x
Shares of Fino Payments Bank Ltd ended at ₹133.05, down by ₹3.40, or 2.49%, on the BSE.
Paytm rules out NBFC licence plans
Paytm, the fintech major, has decided against seeking a Non-Banking Financial Company license. The company prefers a partnership model for lending operations. This comes after Paytm Payments Bank's license was cancelled by the RBI. Paytm reported a consolidated profit of Rs 183 crore in its fourth quarter, a significant turnaround from the previous year. Revenue also saw a healthy increase.
CDSL, NSDL trade mixed after core biz underperforms in Q4; Here are some positives
The weakness in the depository business for NSDL was partly offset by the growth seen in NSDL Payments Bank. Its active accounts increased by 17% sequentially. Its UPI volumes were up 32%, while money transfers increased 40%. Micro ATM transactions reported a bounce back after a bad third quarter.
Fino eyes asset-light, tech-led small finance bank
Fino Payments Bank is moving forward with its plan to become a small finance bank. The bank will focus on technology and secured lending, avoiding a traditional branch model. This transition is on track despite ongoing leadership reviews. Fino aims to offer home loans, gold loans, and business loans.