Punji Kendra: Cracking the Code of Rural Fintech with Tech, Trust, and Transformation!

 Punji Kendra | PractoMind Solutions LLP

Did you know that the number of fintech startups worldwide has grown by over 200% in the past five years? This remarkable surge has been powered by technology breakthroughs, widespread internet penetration, and the rising demand for digital financial services.

At the heart of this transformation in India is Punji Kendra, a flagship brand of PractoMind Solutions LLP, a DPIIT-recognized tech startup with over eight years of expertise in digital transformation and technology integration. Punji Kendra was born with a vision to bridge the digital divide by providing affordable, reliable fintech solutions to small businesses and underserved communities.

Founded by Abinash Panda, Abhisek Panda, and Mayank Kumar Tiwari, Punji Kendra has become a trusted platform for digital banking, payments, insurance, and financial inclusion. By combining technology, partnerships, and customer-first strategies, the company has emerged as a frontrunner in India’s fintech revolution.

In this edition of “Iconic Brand of the Year 2024”, we explore the journey of Abinash Panda—the driving force behind Punji Kendra—and how his entrepreneurial vision is reshaping financial access across rural India.

Tycoon Insights: Kindly give us a brief about the company’s inception story.

Abinash Panda: My brother and I founded PractoMind Solutions in 2016 after freelancing for a few years. We noticed a strong need for affordable web and cloud-based services for small businesses. That idea became the foundation of our growth and eventually gave rise to brands like Punji Kendra. Later, Mr. Mayank Kumar Tiwary joined us as Co-founder & CTO, adding immense technical expertise and value to our platforms.

Tycoon Insights: What inspired its inception?

Abinash Panda: Our core motivation was to help small and medium-sized businesses maximize the potential of technology. Many of them lacked access to affordable, easy-to-use digital tools, so we built services ranging from website design and cloud solutions to fintech platforms—empowering them to thrive in the digital era.

Tycoon Insights: What challenges did you face initially?

Abinash Panda: Trust was the biggest barrier. Many rural customers were hesitant about digital banking, and poor internet connectivity made adoption harder. Scaling technology to reach diverse markets was also a significant challenge.

Tycoon Insights: How is Punji Kendra defining the “trust factor” in fintech?

Abinash Panda: Trust is built through security, transparency, and compliance. We adhere to global standards like PCI-DSS and GDPR, safeguard customer data, and maintain open communication about our processes. Coupled with reliable service, this has helped us win long-term customer confidence.

Tycoon Insights: What differentiates Punji Kendra’s business model?

Abinash Panda: Our one-stop fintech ecosystem. From Aadhaar-enabled banking to rural payments, micro ATMs, insurance, and utility services, everything is available under one roof. By focusing on financial inclusion and forging strong partnerships with banks and fintechs, we deliver a seamless, comprehensive experience.

Tycoon Insights: What services do you currently provide?

Abinash Panda: Our services include AEPS, Micro ATMs, UPI and QR code payments, PAN card issuance, insurance, and utility services such as mobile/DTH recharges. On the B2B side, we support businesses through API/SDK integration and cybersecurity consulting.

Tycoon Insights: How have consumer trust and perception evolved?

Abinash Panda: Consumers today demand transparency and security. By investing in strong infrastructure, secure platforms, and responsive support, we’ve built confidence—especially in rural communities where digital payments are rapidly gaining acceptance.

Tycoon Insights: How has Punji Kendra created impact in the industry and among customers?

Abinash Panda: Our biggest impact has been making financial services affordable and accessible in regions with limited banking infrastructure. By staying transparent and reliable, we’ve built trust and loyalty—turning customers into long-term partners.

Tycoon Insights: How do you value your customers?

Abinash Panda: Customers are at the heart of our growth. We value long-term relationships, actively seek feedback, and continuously evolve to meet their needs. Their trust is our greatest achievement.

Tycoon Insights: How do clients stay connected with the brand?

Abinash Panda: Through personalized services, consistent communication, and dedicated support. These efforts foster strong bonds with our customers and partners, ensuring mutual growth.

Tycoon Insights: What marketing approaches have been most effective?

Abinash Panda: A balanced mix—digital campaigns, content marketing, and on-ground rural outreach. Sharing real success stories on social media has amplified our brand presence while grassroots initiatives have built trust locally.

Tycoon Insights: What new developments are on the horizon?

Abinash Panda: This year, we’ve introduced AEPS and Micro ATMs, expanded our cloud services, and rolled out advanced API/SDK integration solutions. These steps strengthen our position as a comprehensive fintech enabler.

Tycoon Insights: How do you measure consumer trust?

Abinash Panda: Through surveys, reviews, retention rates, and support interactions. These insights help us improve and maintain customer confidence.

Tycoon Insights: What’s the first impression customers associate with your brand?

Abinash Panda: “Empowerment through financial inclusion.” Customers see us as secure, accessible, and reliable—making digital payments and banking simple and efficient.

Tycoon Insights: What are your growth plans?

Abinash Panda: We aim to expand deeper into rural India, launch new fintech services, and strengthen partnerships with banks and fintech firms. We’re also exploring fundraising opportunities to scale further and solidify our leadership in the industry.

Tycoon Insights: What advice would you give to young entrepreneurs?

Abinash Panda: Focus on solving real-world problems with innovative solutions. In fintech and IT, success depends on building trust, staying adaptable, and offering genuine value. The industry evolves quickly—so continuous learning and flexibility are essential.

✨ Punji Kendra’s journey is proof that when technology meets trust, transformation follows. By empowering small businesses and rural communities, the company is not just offering financial services—it is redefining the future of inclusion in India.

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