Karnataka Bank expands banking services with Vakrangee partnership

Karnataka Bank has teamed up with Vakrangee Limited (VL) to provide Business Correspondent (BC) Banking services across India via Vakrangee Kendra outlets. Recognized for its contribution to financial inclusion, Vakrangee holds a significant footprint with over 14,000 Banking BC points. Additionally, it is ranked as the 4th largest ATM operator in rural India, boasting over 6,300 ATMs.

Leadership Insights on the Collaboration

Srikrishnan H, MD & CEO of Karnataka Bank, expressed: “At Karnataka Bank, our commitment to inclusivity and render last-mile financial services to the under/un-banked is unwavering. This collaboration reflects our dedication to broad base our resources to foster financial inclusion, ensuring that banking services are accessible to individuals from all strata of life.”

Echoing the sentiment, Sekhar Rao, Executive Director, commented: “This tie-up with Vakrangee Limited (VL) would ensure high scalability, faster on-boarding, and activation of Banking BC point services. It complements objectives of promoting Financial, Social, and Digital Inclusion. Furthermore, the partnership is set to offer bio-metric enabled digital AePS banking services through Vakrangee outlets, targeting a unique untapped customer base in the remotest parts of the country.”