<ul data-eligibleForWebStory="true"><li>RBI fines Fino Payments Bank INR 29.6 lakh for violating licensing rules.</li><li>RBI's inspection found non-compliance with guidelines during the ISF 2024 took place with reference to the bank's financial position as of March 31, 2024.</li><li>Fino Payments Bank was issued a notice to show cause for the penalty.</li><li>The bank was found to have 'end of day' balance exceeding the prescribed limit of INR 2 lakh in four accounts from February to November 2023.</li><li>Fino Payments Bank's shares closed 3.5% higher at INR 291.8 apiece on the BSE.</li></ul>

RBI Fines Fino Payments Bank INR 29.6 Lakh For Flouting Licencing Rule

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