TarnTaran/Jalandhar/Gurdaspur/Amritsar/Pathankot, May 29, 2025 (News Team): RBI regulated Fino Payments Bank, a leading new age digital bank, provides banking services largely in the unbanked and under-banked locations across Punjab. The state is estimated to have around 5% of its 3.3 crore population categorized under below poverty line (BPL). This segment of the population, mostly illiterate, is largely covered under various direct benefit transfer (DBT) schemes of central and state governments and do not have access to formal banking services. Fino Bank helps new to banking customers open Aadhaar-seeded bank accounts and facilitates transactions.
However, for all the convenience and ease that digital banking and payments bring, people should be careful with respect to the safety of their hard earned money. As a part of its efforts to reinforce trust in new age banking, Fino Bank, which has a huge network of over 4500 merchants across Punjab, has initiated a customer awareness campaign with the aim to help people avoid fraudulent traps.
Vishal Gandotra, Zonal Head (North), Fino Payments Bank said, “Over the last decade, usage of banking has increased, making it absolutely necessary to be cautious of fraudsters. We provide banking services mostly in under-banked areas across Gurdaspur, Amritsar, Jalandhar, Pathankot, Patiala, Tarn Taran, Ludhiana, Mohali etc. through merchant points like kirana stores, mobile shops, dairy shops as well as outlets of our strategic partner Bharat Petroleum (BPCL). Our objective is to reach out to as many people, including DBT beneficiaries, as possible and help them access hassle-free banking service experience. However, account holders need to be responsible while managing their bank accounts as incidents of fraud keep rising across the country. Safeguarding hard earned money is every individual’s responsibility and right.”
As a responsible customer centric bank Fino has invested in best in class technology solutions and have stringent cyber security measures. However, the bank urges general public and network of merchants in the state to follow safe banking practices to prevent fraudsters from stealing sensitive info leading to financial loss.
Ravi Raj Singh, Regional Head (Punjab), Fino Payments Bank said, “An account holder needs to be careful not to share his account details, ATM card, PIN and OTP (one time password) info with anyone. Fino Bank never asks customers or merchants to share sensitive information. Any caller asking for confidential details like user id, login / transaction password, OTP, debit / credit card details such as PIN, CVV, expiry date and other personal information, is a fraudster. We are taking this message physically across all our branches and merchant points in Punjab.”
At Fino merchant points any bank’s customer can avail of banking services like cash deposits, cash withdrawals, bill payments etc and any citizen with valid documents can open new savings and current accounts. Customers, especially DBT beneficiaries, can access their funds easily from the neighborhood merchant points without the need to visit a bank branch. One can also buy life, general and motor insurance as well as get access to loans through referrals.
