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Vakrangee Ltd gets RBI nod to setup Bharat Bill Payment Operating Unit

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On September 25, 2020 Reserve Bank of India (RBI) granted in-principle approval for Vakrangee Ltd to set up Bharat Bill Payment Operating Unit (BBPOU) to handle payment services related to bills.

It has received the authorisation under the Payment and Settlement Systems Act, 2007.

Vakrangee Limited:

i.Vakrangee Limited established in 1990 offers banking, insurance, money transfer services, e-commerce, e-governance and other digital services on behalf of its partner’s banks, insurers, government agencies through its branches in rural and semi-urban areas.

ii.70% of NextGen outlets are located in tier-5 and tier-6 towns, Vakrangee NextGen Kendras will have direct access to its customers in remote, unserved and underserved parts of the country.

iii.Vakrangee NextGen outlets offer a comprehensive range of products and services across banking, insurance, e-governance, financial services and logistics.

Recent Related News:

i.On April 21, 2020 The Leading forex and payment solutions provider Transcorp International Limited (TIL), a 25-year-old BSE-listed company becomes the 1st non-bank company to receive Reserve Bank of India (RBI)

nod to enter into co-branding arrangements for prepaid Instruments.

About Vakrangee Limited:

Managing Director, Group Chief Executive Officer (CEO) – Dinesh Nandwana
Headquarters – Mumbai, Maharashtra