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.

🚀 Fino Payments Bank Set to Transform into Small Finance Bank – Here’s What You Need to Know | MCap 2,618.47 Cr

- Received RBI's 'in-principle' approval on Dec 05, 2025 to convert into a Small Finance Bank (SFB).

- First Payments Bank in India to achieve this milestone.

-… pic.twitter.com/7NIi2I23HC — Investor Feed (@_Investor_Feed_) December 5, 2025

RBI has issued the Guidelines for 'on tap' licensing of SFBs in the private sector, the central bank said in a statement As per the guidelines, existing payment ban

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