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 decision aligns with the RBI's guidelines for ‘on tap’ licensing of SFBs in the private sector. Existing Payments Banks controlled by residents and with five years of operations are eligible for conversion. The RBI assessed the application of FPBL as per the established guidelines. Contact information for the Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001 is phone 022 - 2266 0502. Website: www.rbi.org.in, email : helpdoc@rbi.org.in. The Chief General Manager is Brij Raj. The press release number is 2025-2026/1646.
Key Entities Referenced
Reserve Bank of India: The central bank of India, responsible for granting 'in-principle' approval.
Small Finance Bank (SFB): The type of banking entity that Fino Payments Bank Limited is seeking to convert into.
Fino Payments Bank Limited (FPBL): The Payments Bank entity that has been granted 'in-principle' approval for conversion into a Small Finance Bank.
Guidelines for ‘on tap' licensing of SFBs: The guidelines issued by RBI, which govern the licensing and conversion process of Small Finance Banks.
Mumbai: Location of the Department of Communication, Central Office of the 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