Friday, May 21, 2021

DBT Beneficiaries Can Withdraw PM KisanYojana Funds From Fino Banking Points

Fino Payments Bank’s merchant points across the country are geared up to help India’s farming community amid the pandemic by providing access to cash to the beneficiaries of government’s direct benefit transfer (DBT) scheme, the PM KisanYojana.

Prime Minister Narendra Modi today announced the benefit transfer of over ₹19000 crores directly into the accounts of more than 9.5 crore beneficiary farmer families. Each farmer beneficiary receives₹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 or do any other 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 or can scan the QR code.

“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 or avail doorstep services to withdraw cash or 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 KisanYojana 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 was called by people 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 KisanYojana 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 neighborhood and completely paperless - Hamesha!

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