Fino Payments Bank Limited has announced significant leadership decisions, extending the tenures of key executives to ensure continuity and stability in its top management.

CEO Reappointment

The bank has approved the re-appointment of Rishi Gupta as its Managing Director and Chief Executive Officer for an additional three-year term. This move underscores the bank's confidence in Gupta's leadership and vision for the future of digital banking in India.

Key Details of the CEO Re-appointment

Chairman Reappointment

In addition to the CEO's reappointment, Fino Payments Bank has received approval from the Reserve Bank of India (RBI) for the re-appointment of Rajat Kumar Jain as Part-Time Chairman. This approval extends Jain's tenure for another three-year term.

Key Details of the Chairman Re-appointment

About the Executives

Rishi Gupta

Rishi Gupta brings a wealth of experience to his role at Fino Payments Bank:

• One of the founders of Fino PayTech Limited, the holding company of Fino Payments Bank
• 31 years of experience in financial services
• Qualified Chartered Accountant (Rank Holder) and Cost & Management Accountant
• Bachelor's degree in commerce from Shri Ram College of Commerce, University of Delhi
• Previously served as COO and CFO of Fino PayTech Limited
• Founding member of the Business Correspondent Federation of India (BCFI)
• Co-Chair of the Fintech Committee of Confederation of Indian Industry

Gupta's Achievements

• Awarded "CFO100 Roll of Honor" for three consecutive years (2011-2013)
• Received the India CFO Award for excellence in Finance in 2014
• Honored with the "CA Entrepreneur-Path Breaker – Banking & Financial Services" award by the Institute of Chartered Accountants of India (ICAI) in 2018

Rajat Kumar Jain

• Alumnus of IIT Delhi and IIM Ahmedabad
• Currently serves as Founder Director of Padup Ventures, a knowledge and mentoring platform for early-stage tech companies

These reappointments signal Fino Payments Bank's commitment to maintaining stability in its top leadership as it continues to navigate the evolving landscape of digital banking in India. The bank's decisions reflect confidence in both Gupta's and Jain's abilities to steer the organization through the next phase of its growth and development in the competitive fintech sector.

Jio Payments Bank, a subsidiary of Jio Financial Services, has made significant strides in the digital payments and highway management sector. The bank has secured a contract to implement an advanced tolling system on the Gurugram-Jaipur highway, marking a notable development in India's electronic toll collection infrastructure.

Contract Details

Jio Payments Bank has been awarded a contract to deploy an Automatic Number Plate Recognition (ANPR)-based Multi-Lane Free Flow (MLFF) tolling system at two key locations:

1. Shahjahanpur toll plaza
2. Manoharpura toll plaza

Both these plazas are situated on the busy Gurugram-Jaipur highway, a crucial route connecting two major cities in northern India.

Technology and Implementation

The MLFF system represents a significant advancement in electronic toll collection technology. Here are the key features of this system:

• Enables electronic toll collection across multiple lanes
• Allows vehicles to pass through without slowing down
• Integrates multiple technologies:
  • Radio-Frequency Identification (RFID)
  • Automatic Number Plate Recognition (ANPR)
  • Dedicated Short-Range Communication (DSRC)
  • Global Navigation Satellite System (GNSS)

This integrated approach aims to streamline the toll collection process, potentially reducing traffic congestion and improving the overall driving experience on highways.

Tender and Project Details

The contract was awarded through a tender process conducted by the Indian Highways Management Company Limited. This project is part of India's pilot MLFF initiative, showcasing the country's move towards more efficient and technologically advanced highway management systems.

Jio Payments Bank's Growing Presence in Highway Management

This contract win is not an isolated achievement for Jio Payments Bank. The company has been expanding its footprint in the highway management sector:

Future Plans and Synergies

Jio Payments Bank is not stopping at toll collection. The bank has outlined plans to leverage its parent company's technological prowess:

1. Explore synergies with Jio Platforms to support toll management operations
2. Strengthen digital payments infrastructure across highways

These initiatives are expected to contribute to the broader goal of digitizing and streamlining India's highway payment systems, potentially leading to improved efficiency and user experience for millions of highway users.

The successful implementation of this project could serve as a model for future highway management systems across India, potentially transforming the way toll collection is managed on the country's vast road network.