RBI authorises Vakrangee to manage Bharat Bill payments

The Reserve Bank of India (RBI) has authorised non-banking company Vakrangee Ltd to manage services under the scope of Bharat Bill Payment System.

The Reserve Bank of India (RBI) has authorised non-banking company Vakrangee Ltd to manage services under the scope of Bharat Bill Payment System. Vakrangee kendras offer a comprehensive range of products and services across banking, insurance, ATM, financial services, assisted e-commerce, e-governance and logistics.

With 70 per cent of its next-gen outlets in tier 5 and 6 towns, Vakrangee will now have direct access to function as an operating unit and provide service to customers in the most remote and unserved or under-served parts of the country. "We believe that these outlets will enable every Indian to seamlessly benefit from financial inclusion, social inclusion, Digital India, skill development, employment, government programmes and a wider access to basic goods and services," said Managing Director and Group CEO Dinesh Nandwana.

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. (ANI)