From our story
The company, headed by Dinesh Nandwana, has a business model, which can be best described as a supermarket for financial inclusion services. It has white label ATMs, helps people open and run bank accounts, gives out money to those enrolled in rural employment schemes, enables people to buy insurance, and, in some cases, it helps customers connect to Amazon, which is trying to reach the rural populace of the country.
To offer these services, Vakrangee has outlets, which it calls kendras. It claims it has over 40,000 such kendras in the country. In Kota, it has 146 kendras listed on the website. Of the 146, The Ken visited 20 centres. Of the 20, only four were fully functional. It means they had a working ATM, a tie-up with a public sector bank and offered eMitra services provided by the Rajasthan government—essentially a centre for bill payment and voter registration. Eight other centres had no services except for eMitra.
The rest were never part of Vakrangee. Some had applied to be part of the network, but for one reason or another, they were never operational, and others had never even applied for a franchise.
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