Fino Payments Bank CEO Rishi Gupta on why they won’t be a digital-only bank
Monday, 10 April 2017 - 18:08:22
“There will be about four sources of income for the payments bank. One is the balances in the accounts. Second is the remittance business. The third revenue stream will be coming in from the Banking Correspondents and lending business. The fourth is the insurance cross-sell and other cross sales,” Rishi Gupta, CEO of Fino Payments Bank told MediaNama in an interview. “The revenue pattern will change over a period of time,” he added. Fino Paytech recently got the final license from Reserve Bank of India (RBI) to set up a payments bank, called Fino Payments Bank.
FINO PayTech was chosen by UIDAI to demonstrate the tech enabled payment mechanism at the national launch of Aadhaar-based service delivery.