On December 05, 2025, the Reserve Bank of India (RBI) granted ‘in-principle’ approval to Fino Payments Bank Limited (FPBL) for conversion into a Small Finance Bank (SFB). This follows the RBI’s ‘on tap’ licensing guidelines for SFBs in the private sector, which allow existing Payments Banks controlled by residents with at least five years of operations to apply for conversion. The assessment of FPBL's application was conducted according to the procedures outlined in the guidelines. The Department of Communication's central office is located at Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. The phone number is 022 - 2266 0502. Website: www.rbi.org.in and E-mail : helpdoc@rbi.org.in. The Press Release number is 2025-2026/1646 and the Chief General Manager is Brij Raj.
Key Entities Referenced
Reserve Bank of India: The central bank of India, which granted the 'in-principle' approval.
Guidelines for ‘on tap' licensing of SFBs: The set of rules and regulations that Payment Banks must adhere to for conversion into Small Finance Banks.
Fino Payments Bank Limited (FPBL): The Payments Bank receiving 'in-principle' approval for conversion into a Small Finance Bank.
Small Finance Bank (SFB): The type of bank that Fino Payments Bank Limited (FPBL) is converting to.
Mumbai: Location of the Department of Communication, Central Office of Reserve Bank of India.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व बैंक
RESERVE BANK OF INDIA
वेबसाइट
:
www.rbi.org.in/hindi
संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
December 05, 2025
RBI grants ‘In-principle’ Approval to Fino Payments Bank Limited for
conversion into a Small Finance Bank
The Reserve Bank has today granted ‘in-principle’ approval to Fino Payments
Bank Limited (FPBL) for conversion into a Small Finance Bank (SFB).
Background
RBI has issued the Guidelines for ‘on tap’ licensing of SFBs in the private sector
(the guidelines). As per the guidelines, existing Payments Banks which are controlled
by residents and have completed five years of operations are eligible for conversion
into SFBs. The application of FPBL was assessed as per the procedure laid down in
the guidelines.
(Brij Raj)
Press Release: 2025-2026/1646 Chief General Manager