Under this partnership, Vakrangee will now be able to provide banking services across Pan India, further strengthening the financial inclusion drive in the country. Vakrangee will be providing key banking services such as opening of savings and current bank account (through e-KYC), 

Metro India News | Hyderabad 

Vakrangee Limited (VL) has announced that the company’s board will meet on December 21, 2024 to consider the proposal for raising of funds by way of rights issue, warrants, preferential issue including a qualified institutions placement or through any other permissible mode and or combination, by way of issue of equity shares or any other eligible securities, subject to all such regulatory, statutory approvals as may be required including the approval of shareholders of the company.

Recently, the company announced that it has entered into an agreement with the Central Bank of India (CBI) as Corporate Business Correspondent (CBC) for offering banking services across Pan India.

Vakrangee has emerged as one of the leading financial inclusion players with more than 14,000 banking BC points and 4th largest ATM operator in rural India with 6,000 plus  ATMs. This partnership will expedite the expansion of Vakrangee's network, reinforcing our presence across both rural and urban landscapes of the nation. 

Moreover, it will significantly enhance access to banking and financial services in unserved and underserved regions, driving financial inclusion across the country.

Under this partnership, Vakrangee will now be able to provide banking services across Pan India, further strengthening the financial inclusion drive in the country. 

Vakrangee will be providing key banking services such as opening of savings and current bank account (through e-KYC), opening of fixed, recurring, term deposit account, amongst many others.

Commenting on this partnership, Vedant Nandwana, Managing Director, Vakrangee Limited said, “We are happy and honored to announce this partnership with the Central Bank of India which enables us as Corporate Business Correspondent for banking services across our Vakrangee Kendras on a Pan India basis. We are well on track with respect to our Vision 2030 growth strategy to increase our Operational Vakrangee Kendras to 3,00,000 by 2030. 

This tie up further ensures scalability to our growth model as we would be able to on-board and activate Banking services at our Vakrangee Kendras.”