Vakrangee partners with NSDL Payments Bank for providing BC services; stock shines

Vakrangee partners with NSDL Payments Bank for providing BC services; stock shines

Apurva Joshi
/ Categories: Trending, Mindshare, DSIJ News

Vakrangee Ltd entered into a partnership with NSDL Payments Bank Ltd to provide banking business correspondent (BC) services on a pan-India basis via its network of Nextgen Vakrangee Kendra. 

The physical barrier of a bank branch has been removed via digital banking, which makes this model highly scalable. The existing platform, via which Vakrangee is providing other services at the Kendra, will be utilised for providing banking services using APIs; thus, ensuring quick rollout and easy customisation services across India. 

Nextgen Vakrangee Kendra is a standardised format outlet, exclusively offering a comprehensive range of products & services across banking, insurance, ATM, e-commerce, e-governance and logistics. With 70 per cent of these Nextgen Vakrangee Kendra outlets in tier-5 & 6 towns, Vakrangee will make banking services available to its customers in the most remote and hitherto unserved or underserved parts of the country. 

Vakrangee is a unique technology-driven company, focussed on building India's largest network of last-mile retail outlets to deliver real-time banking & financial services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban & urban markets. 

With this, the stock of Vakrangee today surged 8.5 per cent to Rs 48.10 from its previous close of Rs 44.35 on BSE.

Previous Article Power Grid climbs over 2 per cent on acquiring Sikar New Transmission & Fatehgarh Bhadla Transco
Next Article Welspun Corp surges over 6 per cent post getting licence for manufacturing SAWH pipes
Rate this article:
4.6

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR