RBI Lifts The Ban On Fino Payments Bank To Open New Accounts

Fino Payments Bank, one of India’s first payments banks, has been allowed to open new accounts by RBI after it submitted a compliance report. It had been barred by the central bank from adding new customers since the end of May. 
An RBI audit revealed that some Fino accounts had deposits in excess of the stipulated amount of INR 1 lakh. Airtel Payments Bank were also barred from onboarding new customers earlier.  In July, the RBI had lifted the ban on Airtel Payments Bank.
Source- Business Standards
Static/Current Takeaways Important For IBPS PO Mains Exam 2018: 
  • Currently, there are five payment banks operating in the country – Paytm, Airtel, Fino, and Aditya Birla-Idea Payments Bank and India Post Payments Bank.

 

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *

Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Change Password



Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India largest learning distination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?