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  • DBT beneficiaries can withdraw PM Kisan Yojana funds from Fino banking points

    Published on May 14, 2021

    Mumbai: Fino Payments Bank’s over 6 lakh neighbourhood merchant banking points are  geared up to help India’s farming community by providing access to cash to the beneficiaries of government’s direct benefit transfer (DBT) scheme, the PM Kisan Yojana.

    On 14 May, Government of India credited over ₹19000 crores directly into the accounts of more than 9.5 crore beneficiary farmer families. Each farmer beneficiary received ₹2,000 in his or her bank account.

    The beneficiaries of the DBT scheme having account in any bank can visit the nearest Fino point to withdraw cash and do any banking transaction. Fino points are the neighbourhood small merchants such as kirana, medical stores, dairy shops and Bharat Petroleum (BPCL) outlets equipped with micro ATM and Aadhaar enabled payment system (AePS) devices.

    To find the nearest Fino point, people can click on the URL https://fino.latlong.in/ or can SMS <Pin code> to 9008890088.

    “Always available banking services are the need of the hour,” says Shailesh Pandey, CSO, Fino Payments Bank. “With restrictions on movement, Fino’s Hamesha available neighbourhood outlets are open for extended hours providing convenience to people during these tough times. Beneficiaries can walk-in into the points at any time and withdraw cash or even send money to their family. Most importantly cash is always available at our points, including at BPCL outlets. Our objective is to provide access to convenient banking to the farming community in this hour of need”

    The PM Kisan Yojana provides financial benefit of ₹6000 per year to the eligible farmer families, payable in three equal 4-monthly instalments of ₹2,000 each. The 14th May payment is the first instalment for FY21-22.

    During lockdown in 2020, Fino’s merchant network facilitated neighbourhood and door step banking to people in urban and rural areas. The Fino merchant being familiar in the locality, people called him or her for any cash requirement at any time of the day. The service provided great comfort to senior citizens, women and pensioners.

    Majority of the withdrawals were done by DBT beneficiaries of schemes such as social security pension, PMJDY, PM Kisan Yojana etc.

    At Fino points, people can also open a new account and also avail cash deposit, money transfer, utility bill and loan EMI payment services, and buy health, life and motor insurance. All in the neighbourhood and completely paperless – Hamesha!