Vedavaag Systems Limited Signs agreement as National Business Correspondent (BC) with Bank of Baroda

Vedavaag Systems Limited has signed an agreement with Bank of Baroda as their National Business Correspondent (BC) for PAN India Operations on 25th June 2021.

As part of this arrangement, Vedavaag will be setting up over 500 Customer Service Points (CSP) in the next 12 to 18 months across India. This is a kiosk based banking model that extends banking services to citizens for opening new bank accounts, cash deposits and withdrawals, DMT (Direct Money Transfers), AEPS (Aadhaar Enabled Payment Services), BBPS (Bharat Bill Payment Services) and implementation of various Social Security Schemes of the central and state governments such as Direct Benefit Transfers (DBT), PMJJBY, PMSBY, PMKSNY, etc.

The company is presently working with other banks to further expand the BC operations. Vedavaag is strongly committed to add many more value added financial services to the rural citizens by leveraging its vast network.

Shares of VEDAVAAG SYSTEMS LTD. was last trading in BSE at Rs.40.2 as compared to the previous close of Rs. 40.15. The total number of shares traded during the day was 12227 in over 112 trades.

The stock hit an intraday high of Rs. 41.4 and intraday low of 39.6. The net turnover during the day was Rs. 489902.

Source : Equity Bulls

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