Fino Payments Bank launched two months ago and Rishi Gupta, CEO, spoke to MediaNama on how the bank is targeting the mass market segment. Gupta also spoke about how the bank wants to be the D-Mart of banking as they want to provide banking services at an affordable price. Excerpts from the interview. Read our earlier interview on Why Fino Payments Bank will not be a digital-only bank. On mobile banking features "We will also come up with a virtual debit card as we go along. But it’s not right now and it may take a few more months to come." On the type of loan products offered by the Fino Payments Bank "Right now we have tied up with IndusInd Bank. On the NBFC side, we have multiple tie-ups such as Reliance Capital. We have a tie-up with State Bank of India and a host of public sector banks. Going forward we are looking at tying up with ICICI Bank also for such products. Our focus is on people who have Rs 1.5 lakh to Rs 5 lakh household income levels. With that focus, we are going to provide them with all kinds of services whether it is banking, lending, insurance, bill payments or remittances. Right now we are offering Joint Liability Group (JLG) products which will be around Rs 50,000 to Rs 25,000. And for merchants, we are tying up for MSME loans, products which are Rs 2-3 lakh. We have our branches in rural India we form…
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