Vakrangee Ltd.

BSE: 511431 | NSE: VAKRANGEE
Small Cap | BPO/ITeS
7.11
-0.33 (-4.44%)
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Vakrangee enters into agreement with Bank of Baroda

Date: 24-11-2015

Vakrangee has executed an agreement with the Bank of Baroda in Mumbai appointing the company as its National Business Correspondence on Pan India Basis. As per the scope of work of the company engagement with Bank of Baroda, in addition to other normal banking activities, the company shall be opening at least 2 accounts for each household (out of 2 accounts one should be of the lady member of the house)

As per ‘Pradhan Mantri Jan Dhan Yojana Scheme’, the objective is to bring every Indian into the banking net including the poorest of the poor with minimum 2 accounts for each household. The scheme aims to provide bank accounts to 15 crore individuals in Rural and Urban India with along with a life insurance cover of Rs 1 lakh. These accounts shall be linked with Aadhaar number of the accounts holders and would become the single point for receipt of all Direct Benefit Tranfers (DBT) from Central/State Government/ Local Bodies.

Vakrangee, incorporated in 1990 is Capability Maturity Model Integration (CMMI) level 3 company. The company is an established player as systems integrator and IT-enabled solutions provider in the Indian e-Governance space with capabilities including Document Management system (DMS) and Printing Management system (PMS).