Dhanlaxmi Bank ventures into Fintech services

Dhanlaxmi Bank Limited has entered into an agreement with its first fintech partner, New Street Technologies Private Limited, for Micro Lending, Operations Management and Technology Services under priority sector lending. The agreement was signed on August 1, 2022 at the corporate office of the Bank in Thrissur, Kerala.

New Street Technologies Pvt Ltd. will provide the technical support to the Bank on Digital on-boarding and extend support as the business correspondent in Microlending space to start the operations in southern states of India and subsequently expand to more states.

Shri Shivan J K, Managing Director. CEO of the Bank informed that the association with New Street Technologies Private Limited will augment the Bank to provide better customer connectivity and financial inclusion along with leveraging from the technological advancements.

Shares of Dhanlaxmi Bank Limited was last trading in BSE at Rs. 12.31 as compared to the previous close of Rs. 12.40. The total number of shares traded during the day was 117407 in over 248 trades.

The stock hit an intraday high of Rs. 12.57 and intraday low of 12.18. The net turnover during the day was Rs. 1448933.00.

Source : Equity Bulls

Keywords

DhanlaxmiBank INE680A01011 FintechServices NewStreetTechnologies Agreement