Fino Payments Bank said on Thursday that its board accepted CEO Rishi Gupta’s resignation. The resignation comes despite the board finding him ‘fit and proper’ after reviewing documents and seeking legal opinions.
The lender said Gupta sought voluntary retirement to pursue new opportunities. The resignation comes a few months after his arrest in a GST-related case, for which he was granted bail after 27 days.
The board approved a three-month extension of Ketan Merchant’s tenure as interim chief executive officer of the bank from May 27, subject to regulatory approval. The board has also approved the extension of tenure of Anup Agarwal as an interim chief financial officer for up to three months from July 6.
“The bank shall continue to ensure seamless continuity of its operations and services to its customers and stakeholders and shall continue to focus on the operationalisation of small finance bank license within the stipulated timelines prescribed by the Reserve Bank of India,” the lender said in the exchange filing.