Bartronics India extends partnership with Aryavart Bank; stock ends lower

Bartronics India Ltd announced the renewal of its current contract on financial inclusion project with Aryavart Bank for an additional one year on Thursday. This agreement provides business correspondent services and advocating for financial inclusion in rural areas.
 

The partnership with Aryavart Bank helped it in reaching to the underserved communities, providing them with essential banking services and digital literacy. Bartronics will continue to provide Aryavart Bank with the financing services and shall extend its tech solutions suite to help the bank better address customers’ needs, said the exchange filing.
 

It shall also entail hiring of Business Correspondents (BC) in rural areas to operate at customer service points alongside BC agents, facilitating banking services. They will offer basic banking services like cash deposits, cash withdrawal, account opening, fund transfers, in rural areas of Uttar Pradesh, said the filing.
 

Bartronics India is fintech company, which focuses on providing modern business solutions, providing innovative solutions that bridge the gap between technology and financial services. Aryavart Bank is regional rural bank, which provides banking services to remote areas.
 

Shares of Bartonics India settled at Rs 18.26 on Thursday, falling 2 per cent for the day. The total market capitalization stood little above Rs 550 crore for the day. The stock has gained more than 87 per cent from its 52-week lows at Rs 9.74 hit a year ago.