UPSCBANKINGSSCSTATE-PSC
Fino Payments Bank gets RBI nod for small finance bank, shares fall, stake reduction mandated.
Summary
Fino Payments Bank's shares fell after receiving an in-principle license from the Reserve Bank of India to become a small finance bank. The license mandates the holding company to reduce stakes held by major investors within 18 months. This development is significant for the banking sector and related financial regulations.
Key Points
- Fino Payments Bank received an in-principle license to become a small finance bank.
- The license was granted by the Reserve Bank of India (RBI).
- The holding company must reduce stakes held by key investors.
- Investors include Bharat Petroleum Corp and Blackstone GPV Capital Partners.
- The stake reduction must be completed within 18 months.
Full Article
Fino Payments Bank shares dropped significantly on Monday despite receiving an in-principle license to become a small finance bank. The Reserve Bank of India granted the license, but the holding company must reduce stakes held by key investors like Bharat Petroleum Corp and Blackstone GPV Capital Partners within 18 months.
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