Page 5 - Fino Payments Bank
Now, Fino Payments Bank can open new accounts as RBI lifts ban
Paytm Payments Bank and Airtel Payments Bank were also barred from onboarding new customers earlier
 "Now, Fino Payments Bank can open new accounts as RBI lifts ban")
Fino Payments Bank to raise up to Rs 200 cr via equity in FY18
FinoPayments Bank will raise upto Rs 200 crore in capital from new set of investorsin this financial year to fund the network expansion plans. Rishi Gupta,its managing director and chief executive, said bank will look at between Rs150-200 crore of capital to back expansion plans.In themedium term (2.5-three years) would look at listing bank on exchanges to meetregulatory condition set out in banking license. Exact timing for listing islinked to bank achieving break even, he said.Paymentsbank, backed by private lender ICICI Bank and oil marketing major BPCL, today commencedoperations with 410 branches and 25,000 touch points across 14 states in country.Airtel Payments Bank, Paytm Payments Bank and Postal Bank have already becomeoperational.In January2017 Fino completed its ?400 crore fund raising exercise. In the process thecompany has also complied with RBI's guidelines on having majority domesticshareholding.Earlier inJuly 2016 the company struck a strategic partnership with Bharat ..
 "Fino Payments Bank to raise up to Rs 200 cr via equity in FY18")