Vakrangee Limited, a LIC-backed BSE Smallcap company, is planning to expand its ATM network by deploying 3,000 new ATMs in the fiscal year 2025-26. As part of this expansion, the company will be setting up UPI-based ATM machines, which are gaining popularity due to their simplicity and cardless cash withdrawal capabilities. This expansion is expected to benefit millions of customers, particularly those living in Tier 4 to Tier 6 cities, where access to traditional banking infrastructure remains limited.
Vakrangee currently has 6,050 White Label ATMs, with 76% of them located in Tier 4 and 6 cities. The company has also acquired Vortex Engineering Private Limited, a subsidiary that enables backward integration, cost synergies, and advanced technology adoption. Vortex was incubated by IIT-Madras and holds nine patents, reinforcing its role in the “Make in India – Atma Nirbhar Bharat” initiative.
The planned ATM expansion is part of Vakrangee’s broader vision of providing seamless digital and physical banking experiences under one roof. The company’s “Vakrangee Kendra” serve as one-stop solutions for various banking, insurance, e-commerce, and financial services. The additional ATMs will not only enhance cash availability but also cater to the needs of underserved regions.
Meanwhile, the Indian stock market indices, Sensex and Nifty, continued their upward trend on March 25, 2025, with investors’ sentiment remaining firm amid foreign fund inflows and a rally in the US markets. The 30-share BSE benchmark Sensex jumped 418.54 points to 78,402.92, while the NSE Nifty climbed 107.85 points to 23,766.20.