APPOINTMENTS
CEO / MD
Ketan Merchant Appointed as Interim CEO of Fino Payments Bank
The Reserve Bank of India (RBI) has sanctioned the appointment of Ketan Merchant as the Interim CEO of Fino Payments Bank.
Merchant, previously the CFO, replaces Rishi Gupta, who stepped down following legal issues related to GST violations.
The appointment is valid for a maximum duration of four months, during which he will manage daily bank operations.
Significantly, Fino is currently in an 18-month transition phase to convert from a Payments Bank into a Small Finance Bank (SFB).
Merchant, previously the CFO, replaces Rishi Gupta, who stepped down following legal issues related to GST violations.
The appointment is valid for a maximum duration of four months, during which he will manage daily bank operations.
Significantly, Fino is currently in an 18-month transition phase to convert from a Payments Bank into a Small Finance Bank (SFB).
Key Facts / Static GK
Fino Payments Bank is the first and only payments bank to apply for SFB conversion.
Banking Regulation Act: 1949
Banking Regulation Act: 1949
Practice Quiz — 11 March 2026
Q1. Who has been appointed as the 30th Governor of Himachal Pradesh?
Answer: (C) Kavinder Gupta — Kavinder Gupta was sworn in as the 30th Governor of Himachal Pradesh, replacing Shiv Pratap Shukla.
Q2. Jishnu Dev Varma succeeded whom as the Governor of Maharashtra?
Answer: (B) Acharya Devvrat — Jishnu Dev Varma succeeded Acharya Devvrat, who was holding the additional charge as Maharashtra Governor.
Q3. Who is the newly appointed Supreme Leader of Iran as of March 2026?
Answer: (C) Mojtaba Khamenei — Mojtaba Khamenei was appointed as the third Supreme Leader of Iran in March 2026.
Q4. Which of the following statements regarding the Jal Jeevan Mission (JJM) extension is correct?
Answer: (C) Central assistance for the project is ₹3.59 lakh crore. — The Union Cabinet extended JJM to December 2028 with a total outlay of ₹8.69 lakh crore and central assistance of ₹3.59 lakh crore.
Q5. Which airport was recently granted International status by the Union Cabinet in March 2026?
Answer: (B) Madurai Airport — The Union Cabinet approved the declaration of Madurai Airport as an International Airport.
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