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Rishi Gupta, Managing Director & CEO,  Fino Payments Bank

Fino Payments Bank is keen to become a small finance bank after having completed five years of operations, Managing Director Rishi Gupta said.
The Navi Mumbai-based company is a subsidiary of Fino Paytech, which is backed by marquee investors such as Bharat Petroleum, ICICI Group, Blackstone, IFC, Intel and LIC, among others.
The company started operations in July 2017 with 410 branches to become the fourth payments bank after Airtel Payments Bank, India Post Payments Bank and Paytm Payments Bank.
Fino, which was a remittance service provider, has converted most of its Fino Money Mart outlets into bank branches after getting licence from the Reserve Bank.
Also, Fino is the only lender in this space being traded on the exchanges.
"From regulatory and compliance perspectives we are eligible for an upgrade to a small finance bank, having completed the mandatory five years of operations. Our board also favours such a conversion and soon we'll be moving an application with the RBI in t

Press Trust of India

Fino Payment Bank

To continue as board member, RBI yet to approve for chairman

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