Fino Payments Bank Ltd: Strategic Appointments and Leadership Continuity

In a decisive move to bolster its governance and financial oversight, Fino Payments Bank Limited (FPBL) has announced several key appointments following its board meeting on July 30, 2025. These strategic decisions are poised to enhance the bank’s operational efficiency and reinforce its commitment to transparency and accountability.

Secretarial and Statutory Auditors Appointed

FPBL has appointed Alwyn Jay & Co., Companies Secretaries, as the Secretarial Auditors for a five-year term, spanning from FY 2025-26 to FY 2029-30. This appointment underscores the bank’s dedication to maintaining rigorous compliance with regulatory standards. Additionally, M/s. Bilimoria & Mehta, Chartered Accounts, have been appointed as the Statutory Central Auditors for a three-year period, pending shareholder approval at the upcoming AGM. These appointments are critical as they ensure that FPBL’s financial practices remain robust and transparent, aligning with the Securities and Exchange Board of India (SEBI) Listing Regulations.

Leadership Continuity with Rajat Kumar Jain

In a move that signals stability and continuity at the leadership level, Mr. Rajat Kumar Jain (DIN: 00046053) has been re-appointed as a Non-Executive Independent Director for a second term of three consecutive years, starting November 2, 2025. Mr. Jain’s reappointment is a testament to his valuable contributions and the trust placed in his strategic vision for the bank. His leadership is expected to play a pivotal role in steering FPBL towards achieving its long-term objectives, particularly in expanding its digital financial services to underserved communities.

Market Position and Outlook

As of July 28, 2025, FPBL’s close price stood at 263.6 INR, with a market capitalization of 23.3 billion INR. Despite a challenging year that saw the stock’s 52-week low at 200 INR in March 2025, the bank’s strategic initiatives and leadership appointments are likely to instill confidence among investors. With a Price Earnings Ratio of 25.27, FPBL is positioned to leverage its extensive network of approximately 724,671 banking outlets, 54 branches, and 130 customer service points to drive growth and enhance shareholder value.

Conclusion

Fino Payments Bank Limited’s recent board decisions reflect a strategic focus on strengthening governance, enhancing financial oversight, and ensuring leadership continuity. These moves are expected to fortify the bank’s position in the competitive financial sector, particularly as it continues to expand its digital financial services to rural and underserved populations. As FPBL navigates the evolving financial landscape, these appointments and leadership decisions will be crucial in shaping its future trajectory.