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RBI Approves Pratap Singh's Appointment as MD & CEO of Fino Payments Bank
Sentiment: NeutralHigh Priority
What Happened?
The Reserve Bank of India has approved Pratap Singh as MD & CEO of Fino Payments Bank for three years, effective from November 27, 2026, or upon taking charge. His appointment awaits shareholder approval.
Key points
- Pratap Singh's appointment is effective from November 27, 2026.
- The board will take necessary steps for his appointment, pending shareholder approval.
- Ketan Merchant is currently serving as the interim CEO.
- Rishi Gupta, the previous CEO, was arrested for GST law violations.
- Singh has over 29 years of banking experience in India and the UK.
Key insights
- Singh's extensive experience may enhance the bank's growth and customer focus.
- The approval process reflects the regulatory oversight in banking appointments.
- The interim CEO's previous role indicates a transitional phase for the bank.
Why it matters
This appointment could influence the strategic direction of Fino Payments Bank.
Entities
Pratap Singh· PersonFino Payments Bank· CompanyReserve Bank of India· Organization
Source
Business Standard
