Vakrangee Limited enters into partnership agreement with TransUnion CIBIL Ltd

Vakrangee Limited (VL) has entered into a partnership agreement with TransUnion CIBIL Limited (TUCIBIL), one of the India's largest credit information company regulated by Reserve Bank of India to drive financial inclusion by providing easy access to CIBIL Score and Report to consumers through Nextgen Vakrangee Kendra network.

Once the service is made available Consumers and businesses will be able to place a request for CIBIL Score and Report and/ or CIBIL Rank and Company Credit Report through a secure service portal through Nextgen Vakrangee Kendra.

With 80% of Nextgen Vakrangee Kendra outlets in Tier-4 and 6 locations, Vakrangee will allow citizens especially in rural areas to access formal bank loans quickly for their entrepreneurial as well as personal needs. A CIBIL score is essentially an assessment of an individual's or Company credit worthiness and financial health which is used as an indicator for providing loans and credit services.

This partnership will also help to educate the population of India about the significance of credit scores in determining their credit-worthiness, and to enable them to better understand their eligibility for loans, cards, and other financial services.

Vakrangee will collaborate with TUCIBIL to cater to customers in the unserved and underserved areas. Citizens in rural communities may lack awareness about the importance of CIBIL Score and towards availing credit opportunities easily and at better terms and conditions. A good credit score can be used by them to bargain for a better interest rate.

This tie-up further expands our bouquet of services available to citizens through Vakrangee Kendras. Citizens, especially in un-served and underserved areas shall now be able to visit nearest Vakrangee Kendra and will be able to access CIBIL score/ report.

Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, Financial Services, Assisted e-Commerce, e-Governance and logistics. Vakrangee will provide Credit score service to its customers in the most remote and hitherto unserved/underserved parts of the country.

This tie-up is another milestone and is a part of our expansion plan. These open-up new services from our outlets and it will further boost our customer-focused approach.

Shares of Vakrangee Limited was last trading in BSE at Rs.50.75 as compared to the previous close of Rs. 51.25. The total number of shares traded during the day was 168548 in over 460 trades.

The stock hit an intraday high of Rs. 51.6 and intraday low of 50.4. The net turnover during the day was Rs. 8560095.

Source : Equity Bulls

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