https://www.bloombergquint.com/business/payments-banks-may-convert-to-small-finance-lenders-in-three-years-rbi-working-group

RBI recommends that payments banks looking to convert to small finance banks can apply to do so after three years or operations.

“The RBI’s original licensing guidelines had required that payments banks must have a five year background in the payments space to be able to apply for a license. This means that these entities are not new entrants in the payments space and have experience,” said R Gandhi, former RBI deputy governor and adviser to Paytm Payments Bank. “The working group perhaps took note of this fact and allowed.

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