New Delhi, Dec. 20 -- Fino Payments Bank plans to use its network of merchants as the first set of customers to lend to, while also using them as loan collection points, if the regulator approves its proposal to convert into a small finance bank.
It applied for a small finance bank licence in December 2023 and has about 1.8 million merchants who provide financial services as agents of the bank. Rishi Gupta, managing director and chief executive of Fino Payments Bank, said in an interview that a significant portion of these merchants can be used to collect loan repayments.
Gupta added that the merchants would be used as loan collection points while the bank would also cater to the credit demand of these merchants. They run the bank's tou...
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