Fino keen on SFB licence for growth

WITH OVER 14 million customers and a merchant network spanning 95% of India's districts, Fino Payments Bank (Fino Bank) is hoping it will receive a licence for a small finance bank (SFB) that will allow it to lend.

- MAHESH NAYAK

MD & CEO Rishi Gupta acknowledges that surviving as a payments bank is becoming increasingly difficult.

Fino Bank's customers, particularly merchants and rural users, are actively seeking credit but it is not authorized to lend. That is capping growth and profitability. "We source ₹75-100 crore of references every month for sourcing purposes," adds Gupta.