RBI Clears Fino Payments Bank’s Conversion Into Small Finance Bank

, By INC42
RBI Clears Fino Payments Bank’s Conversion Into Small Finance Bank
FinTech

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SUMMARY

Fino Payments Bank has received in-principle approval from the Reserve Bank of India (RBI) to convert into a small finance bank (SFB)

Under RBI’s “on-tap” licensing rules, a payments bank run by resident promoters and with at least five years of operations can apply for SFB status

Notably, Fino applied for the SFB licence in January last year. The regulatory clearance comes after a year marked by multiple compliance actions against the bank

Fino Payments Bank has received in-principle approval from the Reserve…



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RBI Clears Fino Payments Bank’s Conversion Into Small Finance Bank

, Published By INC42
RBI Clears Fino Payments Bank’s Conversion Into Small Finance Bank
FinTech


SUMMARY

Fino Payments Bank has received in-principle approval from the Reserve Bank of India (RBI) to convert into a small finance bank (SFB)

Under RBI’s “on-tap” licensing rules, a payments bank run by resident promoters and with at least five years of operations can apply for SFB status

Notably, Fino applied for the SFB licence in January last year. The regulatory clearance comes after a year marked by multiple compliance actions against the bank

Fino Payments Bank has received in-principle approval from the Reserve…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News
Battery Smart’s Playbook For Building Battery Swapping Network
Next News
CLAT 2026: What to Expect & How to Stay Prepared in the Final Days by LegalEdge
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