Fino Bank’s innovative “Bank on Wheels” initiative to provide banking, Aadhaar and PAN card services in rural Maharashtra
Pune (Voice News Service): In order to create awareness about banking as well as provide access to related services in Maharashtra, Fino Payments Bank (“Fino Bank”, “the Bank”) today announced the launch of a mobile van-based initiative called “Bank on Wheels” (BoW).
Chief guest Mr. Amol Balwadkar (Corporator) flagged off the initiative from Fino Bank’s zonal office located at Radha Chowk in Pune’s, Baner area. The event was attended by Mrs. Sundari Shivkumar, (DGM) NABARD as well as officials of Fino Bank Mr. Himanshu Mishra, EVP (South & West), Mr. Sangram Patil, Zonal Head (MH-2) and the bank’s local staff.
The 90-day BoW initiative aims to take the benefits of technology led banking closer to the masses deprived of access to financial knowledge and services. The mobile van will pass through 29 districts of Maharashtra from 14th September to 12th December, covering more than 2042 villages.
Flagging off the initiative Mr. Amol Balwadkar (Corporator) said, “It is important that benefits of technology reach villages. Around 55% of the state’s population that lives in rural areas finds it difficult to access banking and other related services. I am certain an effort such as Bank on Wheels will greatly benefit local masses and lead to increased participation in formal financial services. I congratulate Fino Bank for taking the initiative and urge people to make use of this opportunity to financially empower themselves.”
Himanshu Mishra, EVP (South & West), Fino Payments Bank said, “There is immense potential to expand banking services in the interiors of Maharashtra. We already have around 67,000 banking points across all the 36 districts of the state. In addition to bank accounts, Aadhaar number and PAN card are important to be part of formal financial services. Through our BoW initiative it is our endeavour to bring all these services closer to rural masses in a hassle-free manner. Introduced earlier in Telangana, the BoW project resulted in encouraging response as people across more than 3000 villages benefited. Our aim is to bridge the banking access gap in rural Maharashtra as well.”
The BoW mobile van carrying Fino staff, banking equipment and Aadhaar enrolment devices will tour the districts of Pune, Nashik, Dhule, Nandurbar, Jalgaon, Aurangabad, Ahemadnagar, Satara, Kolhapur, Sangali, Solapur, Osmanabad, Latur, Beed , Jalna, Buldhana, Akola, Washim, Hingoli, Parbhani, Nanded, Yavatmal, Amravati, Wardha, Cahndrapur, Gadchiroli, Gondia, Bhandara, Nagpur. As per 2011 census Maharashtra’s population stood at 12.63 crore, with the 29 mentioned districts accounting for majority of rural population.
BoW will provide Financial Literacy, Aadhaar (new as well as updation), PAN card application along with banking services. With the mobile bank in their village, people can also open new Fino Bank account, do deposit and withdrawal using Aadhaar (AePS) and Micro ATM, transfer money, pay utility bills, recharges and purchase health, life and motor insurance.
