Shareholders of Fino Payments Bank Limited have approved the re-appointment of Rishi Gupta as Managing Director and Chief Executive Officer (MD & CEO). The ordinary resolution passed with strong support, securing Gupta’s leadership role for a specific period commencing May 02, 2026, and concluding May 21, 2026. This outcome ensures continuity in executive leadership for the payments bank during this defined interim or transitional phase.

The voting process was conducted via remote e-voting in accordance with Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Sections 108 and 110 of the Companies Act, 2013. The Board of Directors appointed M/s Kaushik Joshi & Co., Practising Company Secretaries, as the scrutinizer to oversee the process. Tribhuvneshwar Kaushik, Partner at the firm, served as the primary scrutinizer, with Savyasachi Joshi acting in his absence.

The postal ballot notice was dispatched on June 25, 2026, to members registered as of the cut-off date, June 19, 2026. The total paid-up capital consisted of 83,218,402 shares. The e-voting window opened on Saturday, June 27, 2026, at 9:00 a.m. (IST) and closed on Sunday, July 26, 2026, at 5:00 p.m. (IST). The scrutinizer submitted its report on July 27, 2026, confirming the validity of the votes cast.

Voting Results Breakdown

The resolution received substantial backing across shareholder categories, particularly from promoters and institutional investors. Public non-institutional shareholders showed mixed sentiment, though their overall impact was limited by lower participation rates relative to holdings.

A total of 22,030,163 valid votes were cast, representing 26.47% of the outstanding shares. Of these, 21,783,058 votes were in favor, accounting for 98.88% of the total valid votes polled. Only 247,105 votes, or 1.12%, were cast against the resolution. No invalid votes were recorded.

What the Numbers Show

The near-unanimous support from promoter and institutional shareholders underscores confidence in Rishi Gupta’s leadership during the specified May 2026 window. However, the significant dissent within the public non-institutional category—where 69.44% of participating voters opposed the resolution—highlights a divergence in sentiment among retail investors. Despite this opposition, the high participation rate among promoters (34.67% of held shares voted) ensured the resolution’s passage with a comfortable majority. The short duration of the appointment suggests a strategic interim measure rather than a long-term structural change.

Fino Payments Bank reported a 253% year-on-year surge in loan referral disbursals to ₹240 crore for June 2026, highlighting strong credit potential within its customer ecosystem as it prepares for a transition to a Small Finance Bank. The bank's core liability segment sustained growth momentum, with average total deposits rising 11% to ₹2,755 crore compared to ₹2,477 crore in the same period last year. The business performance update is based on provisional and unaudited numbers.

The bank opened approximately 3.1 lakh new deposit accounts during the month, a 31% increase from the 2,39,300 accounts opened in June 2025, taking the total count to 1.8 crore accounts. Digital engagement improved significantly, with FinoPay active customers rising 38% to 8.4 lakh from 6.1 lakh a year ago. Renewal income grew 6% to ₹20.8 crore, while the total number of digitally active customers reached 64.7 lakh, up 22% from 53.2 lakh in the prior year.

Business Performance Highlights

The following table summarises key operational and financial metrics for June 2026 against the corresponding period last year:

Transaction Moderation

The bank's transaction business, encompassing remittance, Micro ATM, and AePS, experienced a moderation in throughput, which fell 35% to ₹2,830 crore from ₹4,373 crore in June 2025. The decline is attributed to an ecosystem shift from cash to UPI and a strategic focus on higher-quality, more transacting merchants. However, the pace of degrowth in this segment has eased compared to previous months. B2B digital throughput was nil for the month against ₹3,100 crore in the corresponding period last year.