Vakrangee emerges as third largest ATM operator in rural India

Non-banking company Vakrangee Ltd said on Saturday it launched the 5,000th white label ATM at village Ratnupur in Jaunpur district of Uttar Pradesh on the occasion of 74th Independence Day, becoming the third largest ATM operator in rural India.

Non-banking company Vakrangee Ltd said on Saturday it launched the 5,000th white label ATM at village Ratnupur in Jaunpur district of Uttar Pradesh on the occasion of 74th Independence Day, becoming the third-largest ATM operator in rural India. "This is a big milestone towards our vision to make financial inclusion a big success across the nation," said Managing Director and Group CEO Dinesh Nandwana.

"We believe that these next-gen outlets will enable every Indian to seamlessly benefit from financial inclusion, social inclusion, Digital India, skill development, employment, government programs and wider access to basic goods and services." White label ATMs are operated by non-bank entities. Vakrangee next-gen kendras are located across India in 30 states and union territories covering 6,500-plus postal codes.

They offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-commerce, e-governance, financial services, and logistics. Vakrangee has over 10,000 operational outlets and 24,200 outlets under the onboarding process. In the past year, the company clocked over 4.8 crore transactions with more than Rs 8,880 crore throughput from its ATM network.