Fino Payment Bank gets included in CG MGNREGA bank list

Raipur, Dec 10: Fino Payments Bank, the fintech bank for rural India, has been included in state’s Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) bank list to receive and disburse funds to beneficiaries of the scheme. Fino, a schedule commercial bank, has already been included in the MGNREGA lists across many other states, Chhattisgarh being the latest. In the state, the scheme is prevelant across 28 districts covering 11,664 gram panchayats having 99 lakh workers, as per MGNREGA website. Fino Bank, with its wide banking network across the state’s rural areas, intends to bring the convenience of near doorstep disbursal of direct benefit transfer (DBT) funds to the beneficiaries. Addressing the scribes here, Mr Himanshu Mishra, Senior Divisional Head (West & Central), Fino Payments Bank said, we provide banking services in under banked areas where beneficiaries of various DBT schemes, including MGNREGA reside and work. Being included in the MGNREGA list allows beneficiaries to open new accounts with eKYC and get the scheme funds directly into their Fino accounts. Beneficiaries can withdraw cash from the convenience of their neighbourhood where Fino’s banking points are present. We are grateful to the authorities for giving us this opportunity to extend our banking services and improve the quality of life of the DBT beneficiaries in the state.”
Merchants, the Fino banking points are the neighbourhood states such as kirana stores, medical stores, dairy outlets, mobile repair shops etc that are always open and available. For people of Chhattisgarh, Fino merchant points offer great comfort and convenience. At the point people can now open new bank accounts, get instant debit card, do deposits, withdrawals, remittance, AEPS, Micro ATM transactions and access third party offerings such as insurance, gold and loan sourcing. Customers can also pay utility bills like electricity, broadband, mobile as well as pay for mobile and DTH charges.