RBI clears Pratap Singh as Fino Payments Bank MD & CEO
In short
Fino Payments Bank said the RBI has approved Pratap Singh as its new managing director and chief executive officer. The bank’s board will now take steps to formalise the appointment, and shareholders still need to approve it.
The bank said it will tell stock exchanges once Singh officially takes charge. That keeps the company’s leadership change in focus.
What the reporting says
Fino Payments Bank said the RBI has approved Pratap Singh’s appointment as managing director and chief executive officer. The bank said its board will take the steps needed to formalise the appointment, which will still need shareholder approval. It also said it will inform stock exchanges when Singh formally takes charge, putting the bank’s leadership transition in focus.
Why it matters
Fino Payments Bank said the RBI has approved Pratap Singh’s appointment as MD and CEO, and the board will now move to formalise it subject to shareholder approval. The bank said it will notify stock exchanges once he formally takes charge. The development matters for Fino Payments Bank because it sets up a change at the top of the lender’s management.