{"id":116997,"date":"2024-01-09T14:12:27","date_gmt":"2024-01-09T08:42:27","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=116997"},"modified":"2024-01-09T14:54:35","modified_gmt":"2024-01-09T09:24:35","slug":"bank-stock-jumps-7-after-it-applied-for-an-sfb-license-with-rbi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bank-stock-jumps-7-after-it-applied-for-an-sfb-license-with-rbi\/","title":{"rendered":"Bank stock jumps 7% after it applied for an SFB license with RBI\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2041241165\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The share price of this Fintech company rose around 7 percent to Rs 310.70 per share on Tuesday after the company applied for an SFB license with the Reserve Bank of India.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3637873232\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 1:30 p.m., Fino Payments Bank Ltd shares were quoted at Rs 298.15 per share, up 2.44 percent on the National Stock Exchange. The stock belongs to the small-cap category with a market capitalization of Rs 2,490 crore.\u00a0<\/p><p>As per reports, Fino Payments Bank has applied for a small finance bank (SFB) license with the Reserve Bank of India (RBI). On July 28, 2023. The company\u2019s board approved the proposal for the transition of the bank into a small finance bank (SFB).&nbsp;<\/p><p>The company\u2019s revenue has jumped by 76 percent yearly, rising from Rs 21 crore in Q2FY23 to Rs 37 crore in Q2FY24. Further, within the same period, Net profit has increased by 43 percent from Rs 14 crore to Rs 20 crore.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-4173410766\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Fino Payments Bank shares have gained 9 percent in the last six months and company shares have gained 11 percent in a year.&nbsp;<\/p><p>Fino Payments Bank fintech company offers a diverse range of financial products and services that are primarily digital and have a payments focus. It offers such products and services to the target market via a Pan-India distribution network.&nbsp;<\/p><p>The company has a customer base of over 9 million. In the September quarter of FY24, the company generated 64 percent revenue from transaction income and 36 percent revenue from Subscriptions and others.&nbsp;<\/p><p>The company accounted for around 37 Cr UPI transactions in Q2\u201924, Contributing 1.25% of overall UPI volumes and opened 50k Digital accounts in Q2\u201924.&nbsp;<\/p><p>The company\u2019s key business partners include Delivery Ltd, Kotak Mahindra Bank, Jio Mart, Ola, Bharat Petroleum, and many others.&nbsp;<\/p><p>As of Q2FY24, the company\u2019s product mix includes Current accounts and Savings accounts (CASA) accounted for 21%, followed by Business Correspondence (BC) Banking at 9%, Facilitating domestic remittances to 30% and Cash Management Services (CMS) at 9%.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-2903029810\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar Chitnis<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3019906309\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The share price of this Fintech company rose around 7 percent to Rs 310.70 per share on Tuesday after the company applied for an SFB license with the Reserve Bank of India.&nbsp; At 1:30 p.m., Fino Payments Bank Ltd shares were quoted at Rs 298.15 per share, up 2.44 percent on the National Stock Exchange. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":2380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-116997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank stock jumps 7% after it applied for an SFB license with RBI\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The share price of this Fintech company rose around 7 percent to Rs 310.70 per share on Tuesday after the company applied for an SFB license with the Reserve Bank of India.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/bank-stock-jumps-7-after-it-applied-for-an-sfb-license-with-rbi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank stock jumps 7% after it applied for an SFB license with RBI\u00a0\" \/>\n<meta property=\"og:description\" content=\"The share price of this Fintech company rose around 7 percent to Rs 310.70 per share on Tuesday after the company applied for an SFB license with the Reserve Bank of India.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/bank-stock-jumps-7-after-it-applied-for-an-sfb-license-with-rbi\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-09T08:42:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-09T09:24:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2021\/07\/RBI-increases-average-base-rate-for-NBFC-MFIs-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/bank-stock-jumps-7-after-it-applied-for-an-sfb-license-with-rbi\/\",\"url\":\"https:\/\/tradebrains.in\/features\/bank-stock-jumps-7-after-it-applied-for-an-sfb-license-with-rbi\/\",\"name\":\"Bank stock jumps 7% after it applied for an SFB license with RBI\u00a0 - 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