PR85805

MUMBAI, India, Sept. 25, 2020 /PRNewswire=KYODO JBN/ --

    Vakrangee Limited (VL) has been granted In-principle authorisation to

set-up and operate Bharat Bill Payment Operating Unit (BBPOU) under the Payment

and Settlement Systems Act, 2007 from Reserve Bank of India (RBI). Vakrangee

can now directly handle payment and aggregation of payment services relating to

bills under the scope of BBPS.

    Nextgen Vakrangee Kendras exclusively offers a comprehensive range of

products and services across banking, insurance, ATM, Financial Services,

Assisted e-Commerce, e-Governance and logistics. With 70% of its Nextgen

outlets in Tier-5 and 6 towns, Vakrangee shall have direct access to operate as

an operating unit under the BBPOU and shall provide the Bill Payment service to

its customers in the most remote and hitherto unserved/underserved parts of the country.

    Commenting on this, Mr Dinesh Nandwana, Managing Director & Group CEO,

Vakrangee Ltd said, "We are happy to announce that we have been grated

In-Principle Authorisation to set-up and operate Bharat Bill Payment Operating

Unit by RBI. Bill Payment service is one of the key services offered in our

Nextgen Vakrangee Kendra Business Model and it gives confidence to our

customers especially in Rural and Semi Urban centres.

    "We believe that these NextGen outlets will enable every Indian to

seamlessly benefit from financial inclusion, social inclusion, digital India,

skill development, employment, government programmes and a wider access to

basic goods and services."

    This approval further expands our bouquet of services available to citizens

through Vakrangee Kendras.  Vakrangee currently has 34,200+ (10,000+

Operational & 24,200+ under on-boarding process) which are spread across 32

States & UTs, 560+ districts and 7,250+ postal codes. More than 70% of these

outlets are in Tier 5 and 6 towns. Vakrangee's planned target is to reach at

least 25,000 Nextgen Vakrangee Kendras by 2020.

    About Vakrangee Limited (BSE Code: 511431) (NSE Code: VAKRANGEE)

    Incorporated in 1990, Vakrangee is a unique technology driven company

focused 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 and urban

markets. The Assisted Digital Convenience stores are called as "Vakrangee

Kendra" which acts as the "One-stop shop" for availing various services and

products. (www.vakrangee.in )

    Media Contact:

    Ammeet Sabarwal

    Chief Corporate Communications & Strategy Officer

    ammeets@vakrangee.in  

    Ph no: 02267765100

    Vakrangee Limited – www.vakrangee.in

    Source: Vakrangee Limited