Fino Payments Bank's Gully Gully initiative

Hyderabad: Fino Payments Bank promoted by Fino Paytech Limited, a technology enabled banking service provider on Friday said it has come with Gully Gully Fino approach to increase the reach of its banking services.

Under this, Fino Payments Bank looks to expand its banking points from the current 8,000 merchant points in Telangana and Andhra Pradesh and 900 in Hyderabad.

The bank said that neighbourhood stores such as kirana shops, stationery shops, mobile repair stores etc; are the new banking points.

These points act as branches as well as micro ATMs, wherein customers of any other bank, can do transactions, money transfer, cash deposit, withdrawal, new account opening, utility bill payments, mobile recharges etc. Moreover, they can even purchase life and health insurance policies, it added.

Shailesh Pandey, Chief - Sales and Distribution, Fino Payments Bank, said: "There are many people who cannot afford to spend long hours on banking.

Keeping in mind these challenges, we developed a strong network of merchant points located close to our customers."

Further he informed that these points offer banking services even at late hours and on holidays.

The customers need to provide Aadhaar authentication for completion of transaction, he added.