Tag: Fino
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Fino Payments Bank Shares Drop 11% Following Approval for Small Finance Bank Transition
Fino Payments Bank shares plummeted Monday even after it received an in-principle license to convert itself into a small finance bank. The stock closed 11.35% lower at Rs 278.95 on BSE while falling 12.74% to Rs 274.60 on NSE. On BSE, the bank’s share opened higher at Rs 324.65 as compared with the previous close…
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Fino Secures ‘In-Principle’ Approval from RBI to Transition to India’s First Small Finance Bank
Mumbai, December 08, 2025: Fino Payments Bank Limited (“Fino” or “the Bank”) today announced that it has received the Reserve Bank of India’s (“RBI”) ‘In-principle’ approval to convert into a Small Finance Bank (“SFB”) — marking a significant step in the Bank’s long-term vision to become India’s most trusted, digital-led bank. The ‘In-principle’ approval also…
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Fino Payments Bank Poised for Small Finance Bank Transition, Anticipates Significant Profit Increase
Fino Payments Bank is preparing for a major business transition after receiving in-principle approval from the Reserve Bank of India (RBI) to convert into a small finance bank (SFB). Managing Director and CEO Rishi Gupta said the move will allow Fino to enter the lending business for the first time. Gupta said, “Payments bank cannot…
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Fino Payments Bank Receives RBI Approval to Transition into Small Finance Bank
New Delhi, Dec 6 (KNN) The Reserve Bank of India (RBI) has granted ‘in-principle’ approval to Fino Payments Bank for its conversion into a Small Finance Bank (SFB). As per RBI guidelines, existing Payments Banks which have completed five years of operations are eligible for conversion into SFBs. The central bank said Fino Payments Bank’s…
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Fino Payments Bank Receives RBI Approval to Become a Small Finance Bank
New Delhi, Dec 6 (KNN) The Reserve Bank of India (RBI) has granted ‘in-principle’ approval to Fino Payments Bank for its conversion into a Small Finance Bank (SFB). As per RBI guidelines, existing Payments Banks which have completed five years of operations are eligible for conversion into SFBs. The central bank said Fino Payments Bank’s…
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RBI Approves Fino Payments Bank’s Transition to Small Finance Bank
Notably, Fino Payments Bank is targeting a profit after tax of Rs 100 crore in the current financial year, according to Chief Executive Officer Rishi Gupta. He had stated that the conversion into a SFB will enable greater control over its product offerings and drive further growth. “We are working on some renegotiation, working on…
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RBI Approves Fino Payments Bank’s Transition to Small Finance Bank
Mumbai: The Reserve Bank on Friday granted ‘in-principle’ approval to Fino Payments Bank Ltd (FPBL) for conversion into a Small Finance Bank (SFB).Fino Payments Bank, which started operations in 2017, had applied for a small finance bank license in October-December 2023. RBI has issued the Guidelines for ‘on tap’ licensing of SFBs in the private…