Saturday, May 25, 2024

Fino Payment Bank signed MoU with India Post Payment Bank

Fino Payment Bank to engage trained and IIBF certified women of self-help groups as BC Sakhi in 17 districts of the state under the mission ‘One GP-One BC’ by Rajasthan Rural Livelihood Development Council (Rajeevika). MoU was signed recently.

It is notable that the BC Sakhi engaged through various banks are providing free banking services to the residents of rural areas and families of self-help groups in the concerned Gram Panchayat. Due to this they are getting the benefit of door step banking facilities. Also, by becoming a good source of income for these BC friends, their empowerment, self-reliance and banking skills are increasing. Door step banking services mainly include opening of savings account, depositing money, withdrawing money, as well as providing facilities for enrollment in other products of banking services such as insurance and pension schemes, pension disbursement, DBT money withdrawal facility. .

Till now MoU for BC Sakhi in 25 districts-Apart from this, on November 25, 2022, an MoU was signed with ‘Pay-Near Buy’ fintech agency to install BC Sakhi in 8 districts. Thus far, MoU has been signed for setting up BC Sakhi in 25 districts and MoU will be signed with
Airtel Payment Bank for the remaining 8 districts very soon. Along with this, 4825 BC Sakhi will be installed along with Bank of Baroda, Baroda Rajasthan Kshetriya Gramin Bank, Rajasthan Marudhara Gramin Bank, ICICI Bank and IDFC Banks to install 4825 BC Sakhi on the occasion of State Level Women’s Equality Day event on 25 August 2022. An MoU has been signed for the purpose.

Major Ashish Ahuja, Chief Operating Officer, Fino Payments Bank said, “It is a great honour to be part of Rajasthan Rural Livelihood Development Council (Rajeevika)’s One GP-One BC project aimed at enabling financial inclusion. Through this initiative we will reach out to customers across 2577 gram panchayats through as many BC Sakhis. Our expertise of taking banking closer to the doorsteps of the rural masses through the extensive distribution network of over 12 lakh points across the country will keep us in good stead as we execute this project. Our association with Rajeevika is in continuation of our partnerships with state livelihood missions across Bihar, UP and Gujarat for similar financial inclusion projects.”

As per the MoU signed with Rajeevika, Fino Payments Bank received a mandate to on board BC Sakhis across 8 districts of Banswara, Chittorgarh, Dungarpur, Jhalawar, Kota, Pratapgarh, Rajsamand and Udaipur. A total of 2577 gram panchayats (GPs) will get one BC Sakhi each trained in providing banking services.

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