Vakrangee launches 5000th White Label ATM at Village Ratnupur in Jaunpur district, UP

Vakrangee Limited has launched the 5000th White Label ATM (WLA) at village Ratnupur in Jaunpur district, Uttar Pradesh on the occasion of 74th Independence Day. Vakrangee NextGen Kendras are located across Pan India in 30 States and UT covering 6500+ Postal codes of the country. With this launch, Vakrangee has emerged as the 3rd Largest WLA player as well as the 3rd Largest ATM operator in Rural India.

Vakrangee has over 10,000+ Operational outlets and 24,200+ Outlets under onboarding process under the Nextgen Kendra Model as on 30th June 2020. These NextGen Vakrangee Kendras offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance, financial services and logistics. Vakrangee is the fastest growing WLA Network with over 4,600 new ATMs installed in last 3 years. During this challenging period of COVID-19 Pandemic, Vakrangee has successfully deployed 500+ new ATMs across the country.

Vakrangee has always been Responsible and Socially conscious company. Through our vast network of outlets, we are driving financial, digital and social inclusion in rural India. Our ultimate purpose is to ensure that every Indian has the opportunity to benefit from financial, digital and social Inclusion. We are taking the financial and digital literacy to the bottom of the socio-economic pyramid and serving as the last-mile link to connect India's unserved and underserved rural and urban citizens and provide them access to universal Financial services. Further, our entire ATM Network is environment supportive through paperless transactions as well as has Divyang Friendly features.

During COVID-19 Pandemic led Lockdown situation, Overall more than 10,000 Vakrangee Kendras have been operational across India providing access to key essential services such as Banking, ATM and Tele-medicine to the citizens thereby serving the Nation. Vakrangee's entire team including franchisees are fully committed to fulfil their duties and responsibilities and help the citizens to avail these essential services. At the same time, health of our franchisees and customers is important to us and all our Vakrangee Kendras are maintaining complete safety protocols and also maintaining proper hygiene at the outlets.

Commenting on the launch of 5000th Vakrangee WLA, Mr. Dinesh Nandwana, MD & Group CEO said, "This is a big milestone towards our vision to make Financial Inclusion a big success across the nation. I would take this opportunity to thank our regulators Reserve Bank of India, NPCI Network and our Vendor and Service Partners who all have played a key role in the helping us to achieve this milestone. Without their support this would have not been possible. 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.

National Payment Corporation of India (NPCI) has been our support system for various services such as Banking through AePS, Bill payments through BBPS and ATMs for usage of RuPay cards. We believe our vast network of Vakrangee kendras would financially empower a larger section of society which till now had been excluded from mainstream activities such as banking, insurance and ATM. All Jan dhan accounts have been provided with a RuPay card and these citizens would be able to use our outlets for various services."

Ms Praveena Rai, Chief Operating Officer, NPCI said, "We wish Vakrangee success on the launch of 5000th WLA. NPCI along with the ecosystem partners have been constantly working towards financial inclusivity and revolutionizing the payments ecosystem. The past few years for NPCI has been marked with milestones in creating an evolved robust network of payment solutions, supported by encouraging government policies. We at NPCI are glad to witness that our innovative offerings have accelerated the growth of the digital landscape."

Shares of Vakrangee Limited was last trading in BSE at Rs.29.95 as compared to the previous close of Rs. 30.65. The total number of shares traded during the day was 235391 in over 1013 trades.

The stock hit an intraday high of Rs. 30.8 and intraday low of 29.75. The net turnover during the day was Rs. 7119478.

Source : Equity Bulls

Keywords