Fino Payments Bank has reported its highest-ever total deposit balance of ₹2,900 crore over the past two weeks, even as the payments bank has recently faced scrutiny and negative headlines.
In a regulatory filing, the bank said deposit balances rose nearly 9% in the last two weeks to reach the all-time high as of March 13, 2026. The milestone reflects growing customer engagement and continued traction for the bank’s merchant-led banking model.
The bank also added around 1.5 lakh new banking accounts since February 27, 2026, averaging close to 10,000 new accounts per day, indicating steady customer acquisition during the period.
According to the filing, the growth in deposits and accounts underscores the continued trust customers place in the bank’s technology-driven banking services and its expanding distribution network.
The payments bank said its recently implemented core banking platform has helped enhance customer experience by enabling faster and more seamless banking services.
Operating through a merchant-led “phygital” banking model — combining physical merchant points with digital infrastructure — the bank continues to deepen its presence in semi-urban and rural markets. The model allows customers to access banking services through a large network of business correspondents and merchants, helping extend formal banking access to underserved communities.
Management said the record deposit balance highlights the increasing adoption of simple and secure banking services offered by the institution.
“We thank the people of Bharat for banking with us and for their continued trust in the Bank. We also express gratitude to our business associates and business correspondent (merchant) network for their continued support,” the bank’s management said in the filing.
The bank added that it remains committed to strengthening financial inclusion and expanding access to accessible and reliable banking services across the country.
Fino Payments Bank primarily focuses on last-mile banking services through its merchant network and digital channels, targeting customers in underbanked and rural regions.