RBI grants approval to Fino Payments Bank to become small finance bank
This story was originally published at 18:13 IST on 5 December 2025
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--RBI OKs Fino Payments Bank's conversion into Small Finance Bank
MUMBAI – The Reserve Bank has granted 'in-principle' approval to Fino Payments Bank Ltd. to turn into a small finance bank, the central bank said Friday.
Fino Payments Bank had applied for a small finance bank licence in the December quarter of 2023 under the central bank's guidelines for 'on tap' licensing of small finance banks. The bank's board had approved the proposal to transition into a small finance bank in July 2023.
After becoming a small finance bank, Fino Payments Bank will be able to offer a broader range of banking services. The bank had reported a net profit of INR 153.5 million for the September quarter, down 27% on year. Shares of the bank Friday ended at INR 314.70 on the National Stock Exchange, up 3.7% from Thursday. End
Reported by Shubham Rana
Edited by Ashish Shirke
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