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 'on tap' licensing guidelines for SFBs in the private sector. According to the guidelines, existing Payments Banks controlled by residents and having completed five years of operations are eligible for such conversion. The FPBL's application was assessed following the established procedures. Contact information: Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001, Phone: 022 - 2266 0502. Website: www.rbi.org.in. Email: helpdoc@rbi.org.in. Press Release: 2025-2026/1646. Brij Raj, Chief General Manager.
Key Entities Referenced
Reserve Bank of India: Central bank of India, the primary regulator in this press release.
Guidelines for ‘on tap' licensing of SFBs: Guidelines issued by RBI for ‘on tap' licensing of Small Finance Banks (SFBs) in the private sector.
Fino Payments Bank Limited: Payments bank receiving 'in-principle' approval for conversion into a Small Finance Bank.
Small Finance Bank: The type of bank Fino Payments Bank Limited is seeking to convert to.
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