Fino Payments Bank Withdraws Re-appointment Resolution for Managing Director

Fino Payments Bank Withdraws Re-appointment Resolution for Managing Director​

Fino Payments Bank Limited announced on March 26, 2026, that its board of directors has withdrawn agenda item number 2 from an ongoing postal ballot notice. This item pertained to the re-appointment of Rishi Gupta as Managing Director and Chief Executive Officer (MD & CEO) for a period of three consecutive years, from May 02, 2026, to May 01, 2029.

The decision, made following thoughtful consideration, was taken in the interest of due process and sound corporate governance practices. The company clarified that this withdrawal specifically relates to the re-appointment resolution and does not affect Mr. Gupta’s candidacy or standing. The agenda item will be resubmitted for member approval at an appropriate time, subject to compliance with applicable regulations and re-assessment of Mr. Gupta’s fit and proper status by the National Company Law Tribunal (NCLT) and the board, along with a review by the Reserve Bank of India (RBI).

All votes cast for resolution number 2 will be deemed null and void, and the results of the electronic voting will be declared only for agenda item number 1, concerning remuneration for Mr. Gupta for the fiscal year 2024-25, on or before March 31, 2026. An addendum to the postal ballot notice is being dispatched to members.

The company reiterated its commitment to strong governance, regulatory adherence, and transparency. Fino Payments Bank’s operations remain stable and uninterrupted.

The board meeting commenced at 7:15 p.m. (IST) and concluded at 8:40 p.m. (IST).

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