With the help of a new service launched by Fino Payments Bank, users can get digital versions of new PAN cards through Aadhaar-based authentication within a few hours. Protean eGov Technologies (formerly NSDL e-Governance Infrastructure Limited), with which the bank has partnered, would help the country of India, particularly its rural areas, extend its PAN card issuance services.
As a result of the partnership, Fino is the first payments bank to serve as Protean's PAN Service Agency (PSA) and enable paperless PAN issuing services. According to a statement from Fino Bank, the partnership will enable Protean to increase its reach in the country's interior thanks to Fino Bank's physical network of more than 12.2 lakh merchant locations.
How To Get a PAN Card?
Users can apply for PAN cards at Fino Bank locations using Aadhaar-based verification without submitting or uploading any paperwork. Additionally, applicants will have the choice of a PAN card in physical or digital form.
The freshly developed digital version, or e-PAN, according to Fino Bank, will be delivered to the applicant's email address a few hours after application. The e-PAN is accepted as a legitimate PAN card. PAN cards would be delivered to those who chose physical cards at the address listed on their Aadhaar within 4-5 working days.
Rishi Gupta, MD & CEO of Fino Payments Bank, said on the partnership: "The affiliation is a reiteration of our commitment to deliver all financial-related services under one roof. Our broad pan-Indian distribution network is in the greatest position to offer effective G2C services delivery that is close to the customer's door. We already make it easier for different government initiatives to disburse direct benefit transfer payments and offer last-mile access to banking services. We are glad to collaborate with Protean in support of their efforts to increase PAN coverage throughout the nation and, in doing so, ensure that we meet our goal of ensuring the financial security of every citizen.
“As part of our strategy to promote a financial ecosystem that provides socioeconomic benefits to all societal strata, we are thrilled to collaborate with Fino Payments Bank. Our cooperation will achieve our shared goal of an inclusive and independent India. This initiative supports our goal of leaving no citizen behind and including those who are digitally excluded in the formal financial industry,” Suresh Sethi, Managing Director, and CEO, of Protean eGov Technologies, said.
