Fino Payments Bank has executed the Share Subscription and Shareholders’ agreement with PaySprint on September 20, 2022. If the Bank’s investment exceeds 10% of the paid up equity share capital of PaySprint, necessary approval from RBI will be required. The first tranche of the proposed investment upto Rs 2.5 crore is expected to be completed on or before October 10, 2022. Remaining investment upto Rs 1.5 crore is expected to be completed on or before March 31, 2023, subject to RBI approval, as applicable and at the sole discretion of the Bank. Aggregate investment shall be upto Rs 4 crore (i.e. 12.19% of the paid up equity share capital of PaySprint).
Fino Payments Bank is a scheduled commercial bank serving the emerging India market with its digital based financial services.
