Fino Payments Bank Limited — Others, 20-06-2025: Action(s) taken or orders passed

Fino Payments Bank Limited has announced a penalty of ₹29.60 lakhs imposed by the Reserve Bank of India due to non-compliance with payments bank licensing guidelines. Four accounts maintained an end-of-day balance exceeding the prescribed ₹2 lakh limit between February and November 2023. The bank identified the issue on its own and implemented corrective process changes in November 2023 before the statutory inspection, mitigating further concerns. The financial impact is limited to the penalty amount, and no additional action is expected. This highlights the bank’s proactive approach in addressing regulatory compliance.