VAKRANGEE LIMITED

GRANT THORNTON RELEASES INTERIM SURVEY REPORT

ON NEXTGEN VAKRANGEE KENDRA

Chennai: Vakrangee had appointed M/s. Grant Thornton India LLP as consultant to carry Outlet Quality Analysis of NextgenVakrangee Kendra to ensure standardization referring to the look and feel of the outlet, availability of the services andvalidating customer and franchisee satisfaction index.

The engagement with Grant Thornton is to conduct an independent physical survey of the current and upcoming Next Gen Vakrangee Kendra outlets in the country.

The key objectives of the survey are as follows:

·         Ensure the Physical availability of the kendras as per coordinates shared by Vakrangee

·         Confirm exclusive service availability in each Kendra

·         Compliance to the standard branding guidelines

·         Draw inference of Franchisee satisfaction and Customer satisfaction

After conducting the physical survey of MMR & NCR Region Next Gen VakrangeeKendras GrantThornton has determined the following:

·         The branding and compliance of the Kendra has been strictly followed by the Franchisee Owners

·         Taking the concept of standardized look and feel to the last mile will surely increase the curiosity of citizens to visit the Kendras and avail its services.

·         Vakrangee Ltd. is adhering to its brand philosophy of “AbpooriduniyaPados Mein”, by ensuring the availability of all services.

·         Banking and ATM is unanimously the most utilized service, this means more focus should be given to e-Commerce and e-Governance services which will drive true business sense for a Vakrangee Franchisee owner.

·         Vakrangee should also focus on upgrading the skill sets of franchisee executive.Complete knowledge of product will help the franchisee exhibit services in an efficient manner.

·         Kendras our becoming popular among citizens as Larger time frame of service availability has facilitated them to visit the Kendra s beyond the working hours.

Please see below the link for the interim survey report of Grant Thornton (GT) for your kind

perusal.

Link: Survey report of Grant Thornton

bout Vakrangee Ltd.:

Vakrangee Limited (BSE Code: 511431; NSE Code: VAKRANGEE)Incorporated in 1990, Vakrangee is the unique technology driven company focused on building India'slargest network of last-mile retail outlets to deliver real-time banking & Financial Services, ATM,insurance, egovernance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets. The Assisted Digital Convenience stores are called as “Vakrangee Kendra” which acts as the“One-stop shop” for availing various services and products. Vakrangee is currently operating more than45,000 “Vakrangee Kendra” outlets across India. The company has plans to setup and manage a total of75,000 “NextgenVakrangee Kendra” outlets across India by 2020 and covering the presence in all Postalcode of the country. Vakrangee has been at the forefront in financial inclusion space in India. It hassigned “Common BC” and “National BC” agreements with various public sector banks for offering realtimebanking to unserved and underserved rurban population. Banking at “Vakrangee Kendra” outlets isa unique experience with disruptive technology like APS, e-KYC, inter-operability and real-timetransactions. In addition to banking “Vakrangee Kendra” outlets also provide insurance products, egovernanceservices and ecommerce products.

For further media information,please contact:

Sanjay Kharat | sanjay.kharat@conceptpr.com | +919820317454

GRANT THORNTON RELEASES INTERIM SURVEY REPORT

GRANT THORNTON RELEASES INTERIM SURVEY REPORT ON NEXTGEN VAKRANGEE KENDRA

Vakrangee had appointed M/s. Grant Thornton India LLP as consultant to carry Outlet Quality Analysis of Nextgen Vakrangee Kendra to ensure standardization referring to the look and feel of the outlet, availability of the services and validating customer and franchisee satisfaction index.

The engagement with Grant Thornton is to conduct an independent physical survey of the current and upcoming Next Gen Vakrangee Kendra outlets in the country.

The key objectives of the survey are as follows:

·        Ensure the Physical availability of the kendras as per coordinates shared by Vakrangee

·        Confirm exclusive service availability in each Kendra

·        Compliance to the standard branding guidelines

·        Draw inference of Franchisee satisfaction and Customer satisfaction

After conducting the physical survey of MMR & NCR Region Next Gen Vakrangee Kendras Grant Thornton has determined the following:

·        The branding and compliance of the Kendra has been strictly followed by the Franchisee Owners

·        Taking the concept of standardized look and feel to the last mile will surely increase the curiosity of citizens to visit the Kendras and avail its services.

·        Vakrangee Ltd. is adhering to its brand philosophy of “Ab poori duniya Pados Mein”, by ensuring the availability of all services.

·        Banking and ATM is unanimously the most utilised service, this means more focus should be given to e-Commerce and e-Governance services which will drive true business sense for a Vakrangee Franchisee owner.

·        Vakrangee should also focus on upgrading the skill sets of franchisee executive. Complete knowledge of product will help the franchisee exhibit services in an efficient manner.

·        Kendras our becoming popular among citizens as Larger time frame of service availability has facilitated them to visit the Kendras beyond the working hours

Please see below the link for the interim survey report of Grant Thornton (GT) for your kind

perusal.

Link: Survey report of Grant Thornton

Vakrangee Limited launches domestic money transfer at its Nextgen outlets

Vakrangee Limited launches domestic money transfer at its Nextgen outlets

Vakrangee Limited, one of the world’s largest franchisee-based, multi-service retail network has announced the launch of its Domestic Money Transfer service in partnership with Eko India Financial Services Pvt Ltd., an authorised Prepaid Instrument License holder from RBI, through its nation-wide network of Nextgen Vakrangee Kendras. These Nextgen Vakrangee Kendras offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance, Financial services and logistics.

This Domestic Money Transfer service can be availed across Vakrangee’s nation-wide franchisee network of Nextgen Vakrangee Kendras. Vakrangee has already launched these Nextgen Kendras in the Mumbai Metropolitan region (MMR) and National capital region (NCR). The Company further plans to launch 3,000+ NextGen outlets across 20 states. These Nextgen outlets are spread across 350+ districts and 2,500+ postal codes of the country, out of which more than 80% outlets are from Tier 5 and Tier 6 cities.

Vakrangee which is considered a pioneer of asset-light franchisee-based business model in the country intends to upgrade its network of Nextgen Vakrangee Kendras to 45,000 Kendras by 2019 and further increase it to 75,000 by 2020.

Announcing the launch of the Domestic Money Transfer service Mr. Dinesh Nandwana, MD & CEO, Vakrangee Ltd., said “With this launch, we further empower our franchisee family to complement their bouquet of offerings to their customers at Nextgen Vakrangee Kendras. Our franchisees can now enhance their revenue stream by undertaking money transfer service universally to all their customers without any restriction on bank network or their geographical location. At the same time, to our Partners it would give them unparalleled distribution reach via our strong network of Nextgen Kendras across the length and breadth of the country. ”

These Nextgen Vakrangee Kendras will be exclusive standard format stores with consistent branding and provide a unified consumer experience and superior service levels. The Nextgen Vakrangee Kendra outlets are a technology intensive retail distribution platform for last-mile touch points, delivering services across Banking, ATM, Insurance, Financial Services, E-Commerce, E-Governance, and Logistics services to domains on a real-time basis to potential customers across the under-served rural and urban India.

About Vakrangee Ltd.: Vakrangee Limited (BSE Code: 511431; NSE Code: VAKRANGEE)

Incorporated in 1990, Vakrangee is the unique technology driven company focused on building India's largest network of last-mile retail outlets to deliver real-time banking & Financial Services, ATM, insurance, egovernance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets. The Assisted Digital Convenience stores are called as “Vakrangee Kendra” which acts as the “One-stop shop” for availing various services and products. Vakrangee is currently operating more than 45,000 “Vakrangee Kendra” outlets across India. The company has plans to setup and manage a total of 75,000 “Nextgen Vakrangee Kendra” outlets across India by 2020 and covering the presence in all Postal code of the country. Vakrangee has been at the forefront in financial inclusion space in India. It has signed “Common BC” and “National BC” agreements with various public sector banks for offering real-time banking to unserved and underserved rurban population. Banking at “Vakrangee Kendra” outlets is a unique experience with disruptive technology like APS, e-KYC, inter-operability and real-time transactions. In addition to banking “Vakrangee Kendra” outlets also provide insurance products, e-governance services and ecommerce products.