Fino Payments Bank Ltd. Company History and Annual Growth Details

The Bank was incorporated as ‘Fino Fintech Foundation’ pursuant to a certificate of incorporation dated on June 23, 2007 issued by Registrar of Companies Maharashtra at Mumbai. Pursuant to surrender of the license issued under section 8 of the Companies Act, the name was changed to ‘Fino Fintech Private Limited’ and a fresh certificate of incorporation dated December 15, 2015 was issued by Registrar of Companies, Maharashtra at Mumbai. Thereafter, pursuant to the conversion of the Bank to a public limited company, the name of the Bank was changed to ‘Fino Fintech Limited’, and a fresh certificate of incorporation dated February 3, 2017 was issued to the Bank by the Registrar of Companies, Maharashtra at Mumbai. the Promoter, Fino PayTech Limited, was granted an in-principle approval to establish a payments bank (“Payments Bank”), by the RBI, pursuant to itsletter dated September 7, 2015. Subsequently, the Bank received the final approval of the RBI to carry on the business as a Payments Bank on March 30, 2017. Pursuant to receipt of approval by RBI, the name of the Bank was changed to ‘Fino Payments Bank Limited’ and a fresh certificate of incorporation dated April 4, 2017 was issued by Registrar of Companies, Maharashtra at Mumbai. the Bank commenced its business operations of payments bank on June 30, 2017 and was included in the second schedule to the RBI Act pursuant to notification no. DoR.NBD.No.2138/16.03.005/2020-21 dated January 1, 2021 published in the Gazette of India (Part III - Section 4) on February 13 – February 19, 2021.

Major events and milestones :

2008

- Fino Fintech Foundation was incorporated under the Companies Act, 1956

2015

- The Promoter, Fino PayTech Limited received RBI’s in-principle approval to establish a Payments Bank

- The Bank was renamed as ‘Fino Fintech Private Limited’

2017

- The Bank was converted into a public limited company and consequently renamed as ‘Fino Fintech Limited’

- RBI granted the Bank the license to carry out the business of Payments Bank

- The name of the Bank changed to ‘Fino Payments Bank Limited’

2018

- The Bank received license from RBI to operate as Authorised Dealer Category II

- RBI granted approval to issue and operate pre-paid payments instruments

- The Promoter transferred its pre-paid payment instruments business to us

2021

- The name was included in the second schedule of RBI Act

2022

-The Bank Launch of Shop Insurance Policy to small and medium business owners in association with Go Digit General Insurance Limited.

2025

-Investor Meet with Ohm Portfolio Equi Research Pvt. Ltd. on one to one basis.

-The Bank was offered Options to purchase securities.