Business Daily Media

Men's Weekly

.

Reserve Bank of India (RBI) Grants In-principle Authorisation to Set-up and Operate Bharat Bill Payment Operating Unit to Vakrangee Limited

  • Written by PR Newswire

MUMBAI, India, Sept. 25, 2020 /PRNewswire/ -- 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[1])

Media Contact: Ammeet Sabarwal Chief Corporate Communications & Strategy Officer ammeets@vakrangee.in[2]  Ph no: 02267765100 Vakrangee Limited – www.vakrangee.in[3]

References

  1. ^ www.vakrangee.in (www.vakrangee.in)
  2. ^ ammeets@vakrangee.in (www.prnasia.com)
  3. ^ www.vakrangee.in (www.vakrangee.in)

Read more https://www.prnasia.com/story/archive/3136939_AE36939_0

Portable Monitors for Coding and Programming Students

Today, coding and programming require more focus and efficiency. But, the most essential thing it demands is ample screen space. Students can stru...

Beyond the Banks: Why Agility and Tech Integration Are Defining the Future of Lending in Australia

In Australia’s evolving credit landscape, non-bank lenders are no longer merely filling gaps left by traditional institutions; they are actively r...

Carma appoints Owen Wilson as Chair of the Board

Carma’s next phase of growth to be guided by REA Group’s outgoing CEO who oversaw realestate.com.au rise to be Australia's #1 place for property ...

Digital Upgrade to Boost Efficiency Across Tasmanian Ports

TasPorts is undertaking a multimillion-dollar digital transformation that will improve efficiency, and enable smarter, more sustainable operations a...

Simplifying ecommerce integrations: How to streamline your setup without the stress

In today’s fast-moving retail world, having an ecommerce presence isn’t optional. Platforms like Shopify, WooCommerce, and Squarespace have lowered...

Shop Small Returns to Back the Small Businesses Supporting Local Communities

The annual Shop Small movement by American Express is returning for its 13th year in Australia to galvanise support for the country’s vibrant smal...

Sell by LayBy