Fino Payments Bank Compliance Chief Aashish Pathak Resigns Amid Leadership Crisis, Regulatory Scrutiny

Fino Payments Bank's chief compliance officer, Aashish Pathak, has resigned, marking another high-level departure for the institution as it navigates a severe leadership vacuum and intense regulatory pressure. Pathak, who also served as principal officer and principal node officer, tendered his resignation on March 13, citing personal reasons, with his last working day being March 15. His exit strips the bank of a key senior executive responsible for its compliance and regulatory functions at a critical juncture.

The resignation follows the dramatic arrest last month of Fino's Managing Director and CEO, Rishi Gupta, by the Hyderabad unit of the Directorate General of GST Intelligence (DGGI). Gupta was arrested in connection with an alleged ₹840 crore GST evasion case linked to online betting platforms. The agency has accused him of being part of a syndicate that routed funds through shell entities and program managers. Pathak, who joined Fino as Senior Vice President in 2023 after a stint at ORIX Auto Infrastructure Services, was part of the senior management team tasked with navigating such regulatory challenges.

This leadership crisis leaves Fino Payments Bank in a precarious position, operating without its top executive and now its chief compliance officer. The dual departures under the cloud of a major financial investigation signal deep internal instability and raise significant questions about the bank's governance and its ability to manage ongoing regulatory scrutiny. The situation places immense pressure on the remaining leadership to stabilize operations and address the serious allegations from tax authorities.