Fino Payments Bank Deposits Hit Record ₹29 Billion

Fino Payments Bank Ltd’s total deposit balance has reached a record high of about ₹29 Billion reflecting strong growth in customer engagement and account openings, the bank said in a press release to the exchanges.

Deposit balances have risen nearly 9% over the past two weeks, reaching the new high as of March 13, the company said.

Fino Payments Bank also said it has opened about 150,000 new banking accounts since February 27, averaging close to 10,000 new accounts per day.

The lender said the growth highlights increasing customer trust in its simple and technology-enabled banking services, supported by its new core banking platform that enables smoother digital banking experiences.

The bank operates through a merchant-led phygital banking model backed by digital infrastructure, allowing it to expand services to underserved and underbanked communities across India.

Fino Payments Bank said it remains focused on strengthening financial inclusion and expanding access to accessible and reliable banking services across the country.