Vakrangee Ltd has entered into a partnership arrangement with Bank of Baroda for appointing women business correspondents and providing banking services in Uttar Pradesh.
Vakrangee will work with the bank for Uttar Pradesh State Rural Livelihood Mission (UPSRLM) to appoint and on-board 1,554 business correspondent sakhis in Rae Bareli and Lucknow districts.
The project is aimed at improving banking access in rural Uttar Pradesh and enhancing household income of women members. This will further help in extending financial inclusion in the state.
Business correspondents have played a vital role in the current ongoing pandemic while acting as a direct benefit transfer collection point and ensuring that continuous banking services are available to citizens.
"Gender equality is fundamental to our philosophy and core DNA of being a social equaliser," said Dinesh Nandwana, Managing Director and Group CEO of Vakrangee.
"We strive to build a workplace culture with gender diversity and believe it is core to the success and growth of our company. Our outlets will be able to offer a range of banking services."
Nandwana said Vakrangee kendras are aligned with the 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.
Vakrangee currently has 34,200-plus outlets (over 10,000 operational and nearly 24,200 under on-boarding process) which are spread across 32 states and union territories, 560 districts and 7,250 postal codes.
( With inputs from ANI )
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