FINO PayTech becomes Payments Bank

Posted on:04 Jul 2017 16:57:01
FINO PayTech becomes Payments Bank
04 July 2017 Current Affairs: FINO Payments Bank commenced operations as a payments bank with effect from 30th June 2017 according to the Reserve Bank of India.

It was one of the 11 applicants which were issued and in-principle approval for setting up a payments bank.

Fino Playtech was founded on 13th July 2006 is headquartered at Mumbai, with offices across India.

The payments bank will be registered as a public limited company under the Companies Act, 2013 and licensed under Section 22 of the Banking Regulation Act, 1949.

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