BLS International stock ends at 5% upper circuit after Starfin gets empanelled by PNB, Central Bank of India for last mile banking services

Starfin has become the official Corporate Business Correspondent (BC) to deliver last-mile banking services in rural/ semi-urban/ urban/ metro areas across India.

Nov 24, 2021 03:11 IST India Infoline News Service

BLS International subsidiary Starfin India on Wednesday announced that it has been empanelled by two banks i.e. Punjab National Bank & Central Bank of India to support the financial inclusion mission of Govt of India. Starfin has become the official Corporate Business Correspondent (BC) to deliver last-mile banking services in rural/ semi-urban/ urban/ metro areas across India.

Initially, the BSL International subsidiary will roll out over 700 centres on behalf of the Central Bank of India while the number of banking centres is awaited from Punjab National Bank.

Shikhar Aggarwal, Joint Managing Director, BLS International said, “This empanelment strengthens our banking correspondent portfolio delivering last-mile banking services to the unserved and under-served population of India. We are delighted to initiate banking services for Punjab National Bank & Central Bank of India to support the ‘National Mission for Financial Inclusion’ across India.”

Effective immediately, Starfin will initiate more than 30 banking services like enrolment of customers, debit cards, balance enquiry, statement of accounts, passbook printing, money deposit, and bills/utility payment services to account holders of both banks across India. The company will also provide micro-insurance/ mutual fund products/ pension products/other third-party products through these customer service points.

BLS International’s subsidiary, Starfin is already empanelled as the Corporate BC for Bank of Baroda; the National BC for State Bank of India; Corporate BC for Uttarakhand Gramin Bank; and Microfinance Agency for Punjab National Bank.

On Sensex, BLS International finished at the upper circuit of Rs221.95  per piece up 4.99%. 

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity