Fino Payments Bank Interim CEO Ketan Merchant’s tenure has been extended for a period not exceeding three months, effective August 27, 2026, subject to approval from the Reserve Bank of India. The bank’s board approved the extension at its meeting on August 24, according to a BSE filing made the same day.

The decision followed a recommendation from the Nomination and Remuneration Committee. Merchant will continue as a Key Managerial Personnel and Senior Managerial Personnel of Fino Payments Bank during the extended term.

The board meeting began at 2 pm and concluded at 2:24 pm. The disclosure was submitted under Regulation 30 and other applicable provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Merchant brings over 27 years of banking experience

Merchant has more than 27 years of banking experience and joined Fino Payments Bank in 2018. His responsibilities and contributions at the bank have included finance, balance-sheet management and the formulation of its strategy.

Before joining the bank, his career included stints with HSBC, Standard Chartered and Barclays Group, spanning retail banking and balance-sheet management. According to the filing, he has been involved in building the bank’s sustainable model amid a changing banking environment.

  • Merchant is currently serving as Interim CEO with effect from February 27, 2026.
  • He played a key role in the bank’s listing in 2021.
  • His present focus includes accelerating the bank’s growth-oriented strategies.
  • Under his stewardship, the bank adopted the three-pronged Data, Distribution and Digital strategy for its Fino 2.0 vision.

Extension remains subject to RBI approval

The approved extension is expressly conditional upon RBI approval and cannot exceed three months from August 27. The filing did not specify a longer-term appointment or disclose any revised remuneration connected with the extension.

Fino Payments Bank submitted the disclosure to BSE, where it trades under scrip code 543386, and to the National Stock Exchange of India, where its symbol is FINOPB. The bank said the disclosure would also be available on its website.

Company Secretary and Compliance Officer Basavraj Loni signed the filing, which was issued from Navi Mumbai on August 24, 2026.

Source: BSE corporate announcement.