Vakrangee (VL) has entered into a partnership agreement with TransUnion CIBIL (TUCIBIL) to drive financial inclusion by providing easy access to CIBIL score and report to consumers through Nextgen Vakrangee Kendra network.
A CIBIL score is essentially an assessment of an individual's or company credit worthiness and financial health which is used as an indicator for providing loans and credit services. A good credit score can be used by them to bargain for a better interest rate.
Once the service is made available, consumers and businesses will be able to place a request for CIBIL score and report and/ or CIBIL rank and company credit report through a secure service portal through Nextgen Vakrangee Kendra.
With 80% of Nextgen Vakrangee Kendra outlets in Tier-4 and 6 locations, Vakrangee will allow citizens especially in rural areas to access formal bank loans quickly for their entrepreneurial as well as personal needs.
Vakrangee's consolidated net profit dropped 21.6% to Rs 16.80 crore on a 62.7% decline in net sales to Rs 74.36 crore in Q3 FY21 over Q3 FY20.
Shares of Vakrangee rose 0.49% to Rs 51 on BSE. Vakrangee is a unique technology driven company focused on building a network of last-mile retail outlets to deliver real-time banking & financial services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets.
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