Aksh Optifibre gets banking correspondent contract from Bank of Baroda

With the services division of Aksh Optifibre having bagged a national level banking correspondent contract from Bank of Baroda, the shares of the company were trading in the positive territory. The stock was trading up by 6.25% at Rs 27.2 per share on the BSE at 9016 hours. 
 
Under the contract from Bank of Baroda, the company plans to set up 5,000 banking kiosks through its flagship services arm, 1 Stop Aksh, in the upcoming year. The company is currently operating 10,000 plus e-Mitra kiosks in Rajasthan out of which 500-plus are already serving as banking kiosks. 
 
The company also plans to mobilise the rest of the kiosks to offer 360-degree banking services, which will be operated on behalf of Bank of Baroda, primarily in the rural areas. The key focus areas for the company will be to create awareness and educate rural habitants about saving habits, use of micro-finance solution and RuPay card, along with imparting knowledge about optimal funds management practices and debt counselling.