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 is based on the guidelines for 'on tap' licensing of SFBs, where existing Payments Banks controlled by residents and having completed five years of operations are eligible for conversion. The application of FPBL was assessed as per the procedure laid down in the guidelines. The Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001 can be contacted at phone number 022 - 2266 0502. The website is www.rbi.org.in and the email address is helpdoc@rbi.org.in. This press release has number 2025-2026/1646 and was issued by Brij Raj, Chief General Manager.
Key Entities Referenced
Reserve Bank of India: The central bank that granted 'in-principle' approval.
Fino Payments Bank Limited: The payments bank receiving 'in-principle' approval for conversion.
Small Finance Bank: The type of bank Fino Payments Bank Limited is converting into.
Guidelines for ‘on tap' licensing of SFBs in the private sector: The RBI guidelines governing the licensing and conversion of small finance banks.
Mumbai: Location of the Reserve Bank of India's Central Office.
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