Fino Payments Bank Limited
Financial Inclusion Network Operations (“FINO”) is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. It offers such products and services to the target market via a Pan-India distribution network.
What Fino files
- Investor Meet113
- Others78
- Updates29
- Board Meeting15
- Important13
- PPTs7
Fino Payments Bank reported a turnover of 1,587.9 Cr and a net worth of 805.21 Cr. The bank operates 126 offices nationally, serving retail and corporate clients across all states and union territories. Total permanent headcount stands at 2,848 employees, with zero pending stakeholder grievances recorded during the period.
Fino Payments Bank clarified media reports, denying links to shell companies, fake invoices, or bypassed KYC. The bank expects to become an SFB within RBI's 18-month timeline. It foresees no financial liability from the GST investigation, and operations remain normal.
Fino Payments Bank's MD & CEO has been arrested over GST provisions. The bank states no present impact, clarifying the investigation relates to business partners. Its CFO has been appointed interim Head of Organization to ensure continued operations.
Fino Payments Bank secured RBI approval to become a Small Finance Bank, a first for a Payments Bank. This milestone enables Fino to expand services, including lending, and strengthen its liability base. It manages 2,300 Cr in deposits and processed 11,000 Cr in Q2 transactions.
Fino Payments Bank has updated its website domain to www.fino.bank.in from www.finobank.com. This operational change ensures seamless user access through automatic redirection to the new site.