Fino Payments Bank Launches “GATI” Savings Account in West Bengal to Rapidly Boost UPI Adoption.

Banking & Finance

On 24 July 2025, Fino Payments Bank introduced its zero‑balance digital savings account named “GATI”, specifically targeting rural and semi‑urban areas of West Bengal. Designed for fast onboarding and instant UPI (Unified Payments Interface) activation, the initiative aims to accelerate digital financial inclusion across underserved regions.


      - The GATI account—“gati” meaning speed in several Indian languages—can be opened instantly via eKYC authentication at over 40,000 merchant points across West Bengal. This model leverages Fino’s merchant-led network to simplify onboarding and support users in transitioning from physical (phygital) to digital banking.

      - Aimed at digitally-inclined yet underserved groups—such as youth, women, welfare beneficiaries, and senior citizens—the GATI account requires no minimum balance and entails a â‚ą100 one‑time opening fee and a â‚ą50 quarterly maintenance charge, making it affordable and accessible. UPI ID is auto-generated via the FinoPay app, enabling immediate transaction capability.

     

Main Point :-   (i) The launch is aligned with Fino’s broader digital inclusion strategy: transitioning underserved users into active participants in the formal financial system. This move supports the Digital India mission by offering instant, low-cost financial access via mobile banking in remote areas.

      (ii) Fino aims to significantly raise UPI adoption across semi-urban and rural Bengal, where smartphone usage is rising rapidly but digital banking penetration is limited. The GATI initiative empowers users to conduct instant P2P (peer-to-peer) and P2M (person-to-merchant) transactions, contributing to financial inclusion and cashless economy goals.


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