Vakrangee Limited to on-board 1554 women as Business Correspondents

Vakrangee Limited (VL) has entered into a partnership arrangement with Bank of Baroda for appointing Women BC Sakhis and providing Banking services in Uttar Pradesh.

Vakrangee will be working with Bank of Baroda for the Uttar Pradesh State Rural Livelihood Mission (UPSRLM) to appoint and on-board 1554 BC Sakhis in the Raebareli and Lucknow districts of Uttar Pradesh.

The project, being implemented, is part of UPSRLM's mission to on-board and prioritises Women as BC (Business Correspondent) Sakhis or Banking Agents across all the districts of the state. Vakrangee is one of the partners and facilitators engaged for the project to on-board and provide training and handholding to these BC Sakhis. The project is aimed at improving banking access in rural UP and enhancing the household income of women members.

This will further help in extending the financial inclusion in the state of Uttar Pradesh. Business Correspondents have played a vital role in the current ongoing pandemic acting as a Direct Benefit Transfer collection point and ensuring that the continuous Banking services being available to citizens.

Commenting on this partnership, Mr. Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, "Vakrangee has always been a Responsible and Socially conscious company. Gender Equality is fundamental to our philosophy and core DNA of being a social equalizer. We strive to build a workplace culture with gender Diversity and believe it is core to the success and growth of our company. We are happy and honored to announce this partnership with Bank of Baroda which enables us to focus and prioritize having Women Banking BC agents in the state of Uttar Pradesh.

Our outlets will be able to offer a range of banking services. Our Kendras are aligned with Government's vision of Financial, Social and Digital Inclusion by reaching out to the remotest parts of the country where basic banking services are not available."

Shares of Vakrangee Limited was last trading in BSE at Rs.59.9 as compared to the previous close of Rs. 58.45. The total number of shares traded during the day was 730798 in over 3073 trades.

The stock hit an intraday high of Rs. 60.4 and intraday low of 57.3. The net turnover during the day was Rs. 43244090.

Source : Equity Bulls

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