Reports Hub

GT Survey Report on Nextgen Vakrangee Kendra

Vakrangee has appointed M/s. Grant Thronton India LLP as consultant to execute Outlet Quality Analysis of Nextgen Vakrangee Kendras to ensure standardisation referring to the look and feel of the outlet, availability of the services and validating customer and franchisee satisfaction index. The engagement with Grant Thornton is to conduct an independent physical survey of the current and upcoming Nextgen Vakrangee Kendras in the country.

The key objectives of the survey are as follows:

  • Ensure the physical availability of the Kendras as per coordinates shared by Vakrangee Limited
  • Confirm exclusive service availability in each Kendra
  • Compliance to the standard branding guidelines
  • Draw inference of franchisee satisfaction and customer satisfaction
Report, December 2019 Report, January 2019

GT Report on Financial Inclusion in Rural India - January 2020

Grant Thornton has done a detailed study and released a report on “Financial Inclusion and Rural India – Banking and ATM sector in India”. Financial inclusion is the key to bridging the social gap and achieving a well-distributed and sustainable economic growth. India is the 7th largest economy across the world with a population of more than 1.2 billion people whereby over 2/3rd population resides in rural villages and small town, spread over 6,00,000 villages and 640 districts.

The recent initiatives of the Government and RBI have widened the reach of Financial services in far and remote areas by allowing private players to act as Business Correspondents and non-bank entities to set up white label ATMs across the country. This report focuses on what financial inclusion means for India, presence of Banking and ATM sector across the country and highlighting key non-banking companies and their contribution towards the goal of Financial and Social inclusion.

The key Highlights related to Vakrangee are as follows:

  • Vakrangee Limited stands as the fastest growing and 3rd largest White Label ATM player in the country. In the ATM segment, rural share of public sector banks is 20%, in private sector it is 9%. However, the rural share of White Label ATM is 49%. Thus, this indicates that WLAs have a larger presence across Rural India. Vakrangee Limited has a major share of 66% in Rural India.
  • Vakrangee has over 12,000 BC points, of which 82% are situated in Rural India.
  • In FY2018, Vakrangee BC’s opened 31.7% of all BSBDAs opened by all BC’s in India.
  • Vakrangee is the 13th largest ATM operator in India. However, in Rural India it is 3rd largest ATM operator behind only SBI and Tata Indicash.
  • When compared to private sector Banks, Vakrangee ranks over a number of private Banks such as Axis Bank (1,905 ATMs), HDFC Bank (1,063 ATMs) and ICICI Bank (760 ATMs) in Rural India.
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GT Report on Business Impacts in the States of Uttar Pradesh and Maharashtra February, 2020

The GT Impact Assessment study observes and studies all business units in the Kendras and assesses the Economic, Social, Cultural and Environmental impact at varying levels. The Company had engaged Grant Thornton India’s Centre of Excellence for Sustainable Development (CoE-SD) to study the economic, social, cultural and environmental impact it has created through its business operations on various stakeholders like beneficiaries, Kendra owners, employees, business partners and shareholders. Vakrangee Limited strives to connect India’s rural citizens with the country’s modern ecosystem. Its Vakrangee Kendra or digital retail outlet facilitates access to modern necessities including banking and financial services, ATM, insurance, e-governance, e-commerce and logistics services for the unserved and underserved rural market.

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