Rishi Gupta, the Managing Director and CEO of Fino Payments Bank, has announced his voluntary early retirement, a decision made amid ongoing legal challenges following his arrest related to India's goods and services tax law. Gupta expressed a desire to explore new opportunities outside the bank, although he did not provide specific details regarding his future plans. The board of Fino Payments Bank, however, reviewed the situation and concluded that Gupta was still 'fit and proper' to continue in his role before his resignation. The circumstances surrounding his arrest were connected to an investigation involving the bank's business partners and were not indicative of any compliance issues related to Fino itself. In light of Gupta's departure, Ketan Merchant has been appointed as the interim Managing Director and CEO for a period of up to three months, pending the necessary approval from the Reserve Bank of India. Additionally, Anup Agarwal's position as interim Chief Financial Officer has been extended for three months as well. Notably, Fino Payments Bank received approval last year to transition into a small finance bank, which will allow it to broaden its financial services, including accepting larger deposits and offering loans.