Vakrangee eyeing payments bank biz

Shares of Vakrangee will be in focus on Thursday, as its board of directors are meeting to discuss the payments banks guidelines issued by the Reserve Bank of India and the possibility of applying for a licence for the payments bank in the capacity of corporate business correspondent. From being a sub-contracted IT enabler in e-Governance projects, Vakrangee has transformed into a retail house offering banking and financial services to reach the rural population.