India's Fino Payments Bank rises after core banking migration ahead of small finance bank transition

FINO Payments Bank

16/04/2026 05:04

** Shares of India's Fino Payments Bank FINY.NS rise 2% to 137.50 rupees

** Co completes migration of its core banking system to Infosys' banking software Finacle and invests 2 billion rupees ($21.45 million) as it prepares to transition into a small finance bank

** The migration was carried out through a carefully phased approach, with a temporary moderation in business volumes during Q4 FY26 to prioritise system stability and data integrity - FINY

** In March, the lender said its planned conversion into a SFB is progressing within the central bank's 18‑month timeline amid scrutiny linked to a tax probe that has led to the arrest of its CEO

** YTD, FINY down ~46%

($1 = 93.2363 Indian rupees)

 (Reporting by Urvi Dugar in Bengaluru)