Fino Payments Bank has announced the appointment of Abhilash Ankathil, a former executive at the Reserve Bank of India (RBI), as its new Chief Compliance Officer (CCO). Ankathil, with over twenty-five years of experience in banking, non-banking ecosystems, payment system regulation, and legislative drafting, will take on the role from April 6 for a three-year term. This move follows the resignation of the previous CCO, Aashish Pathak, who recently departed the company.
The appointment of Ankathil comes amid increased regulatory scrutiny on the bank, with the Managing Director and CEO facing allegations of involvement in a significant GST evasion case related to online betting platforms. Despite these challenges, Fino has reported steady growth, with around 7 lakh new accounts opened in Q4 of the 2025-26 fiscal year, bringing its total customer base to approximately 1.75 crore.
This strategic appointment highlights Fino’s commitment to regulatory compliance and governance, underscoring the importance of experienced leadership in navigating complex financial landscapes. Ankathil’s extensive background in regulatory frameworks and legal expertise positions him well to oversee compliance operations and ensure adherence to industry standards.
Source: Inc42 Media