ICICI Bank picks up a 20% stake in FINO, a technology solutions provider for financial institutions
Financial Express: ICICI Bank (NYSE: IBN) has picked up a 20% stake in Financial Information Network and Operations Ltd (FINO), a technology solutions company. ICICI Bank will bring down its stake in the firm over a period of time. FINO provides backend technology platform for micro-finance institutions. FINO also provides biometric cards to the rural customers, which will offer a variety of financial and non-financial products