Fino-Paytech has recorded a profit in the last two consecutive quarters i.e. March and June-2020. The Fino-Paytech mainly focuses on rural India and its 80% business comes from this region only. During COVID-19, a lot of migration has happened from metro-cities to rural areas and the government has put money in poor accounts via different schemes. In the June-20 quarter, Fino-Paytech has clocked a profit of 1.9 Crores as compared to a loss of 10 Crores last year. As a result of increased transactions, Fino-Paytech is expected to come up with profitability in FY20-21. What does Fino-Paytech do? They have more than 1lakh agents present in rural India and post-April this year, every month they are adding more than 16k agents. We know in rural India mostly bank facilities are not available. And if someone wants to transfer money, then it is very difficult for them. Here, agents of Fino-paytech with handheld devices help rural people to transfer funds and take their commission. Its main services are summarized below. A payments bank offer a plethora of products like payments and remittance services, small savings accounts, but not loans or credit cards, Fino Payments Bank has tied up with ICICI Bank to offer gold loans and it currently does around Rs 150 crore worth gold loans. It also has tie-ups with a few insurance companies to offer their insurance products to customers through its bank. Transaction Volume The commission of Fino-Paytech depends upon the worth of the transaction done. As per management, in the first half of FY20-21, they will able to complete transactions worth Rs.60000 Crores up by a whopping 36% as compared to Rs. 44000 Crores in the same period last year. Currently, they have 2.5 Lakhs touchpoints and they are aiming for 10 lakhs by 2023. Future Plans Fino-Paytech will be eligible for a Small Finance Bank license next year. At present, it has a payment bank license. The payment bank license does not allow companies to take deposit more than 1 lakh and lending is prohibited. So, once they get into the Small Finance Bank license, they will get the opportunity to lend and that will increase their profitability manifolds. At present, they are doing the lending by engaging with third-party banks. Investors ICICI Group has a 20% stake in Fino Paytech, the holding company of the bank, state-owned oil marketing company BPCL 21%, and Blackstone 13.5% stake. For more detail, please visit; https://unlistedzone.com/shares/buy-sell-share-price-fino-paytech-limited-unlisted-shares/