Aksh Optifibre bags contract from Bank of Baroda

Under this programme, the company plans to set up 5,000 banking kiosks through its flagship services arm, 1 STOP AKSH in the upcoming year.

Aug 31, 2017 09:08 IST India Infoline News Service

Shares of Aksh Optifibre were trading in the positive territory on the back of a contract from Bank of Baroda. The stock was trading up by 6.25% at Rs 27.2 per share on BSE at 9016 hours.
 
Aksh Optifibre announced on Wednesday that its services division has bagged a national level banking correspondent contract from Bank of Baroda. Under this programme, the company plans to set up 5,000 banking kiosks through its flagship services arm, 1 STOP AKSH in the upcoming year. Under 1STOP AKSH the company is operating 10,000 plus e-Mitra kiosks in Rajasthan, out of which 500 plus are already serving as banking kiosks.
 
The company also plans to mobilise the rest of the kiosks to offer 360 degree banking services, which will be operated on behalf of Bank of Baroda, primarily in the rural areas.
 
The key focus areas for the company will be to create awareness and educate villagers about saving habits, use of micro finance solution and RuPay card, along with imparting knowledge about optimal funds management practices and debt counseling.  

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