The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1,76,00,000 on Vakrangee Ltd for non-compliance with certain provisions of the White Label ATM (WLA) directions, the central bank said in a release.
Vakrangee has evolved into a unique Hybrid O2O (Online to Offline) platform, whereby there is Assistance available through the Physical store network along with Digital Online Services. Initiated this Unique proposition with launch of first Digital service of Telemedicine Healthcare services (vHealth by Aetna, a CVS Pharmacy Group Company – Fortune 500 company)
Company plans to rollout telemedicine services through its network of NextGen kendra Outlets on a Pan India basis
As per Grant Thornton, Vakrangee is the 13th largest operator of ATMs in India. In rural India, it remains third largest player.
A cheap stock could remain cheap forever if the value is destroyed. Stocks like Gitanjali Gems never recovered from that cheap zone as the business was completely wiped out post the Nirav Modi crisis
Citizens, especially in unserved and undeserved areas, will now be able to visit nearest Vakrangee Kendra and book auto products available on Mahindra eMarket place by paying the booking amount, Vakrangee Ltd said in a regulatory filing.