Aksh Optifibre has bagged a national level banking correspondent services contract from Bank of Baroda (BoB). This is for setting up 5,000 banking kiosks through its flagship services arm, 1 STOP AKSH in the upcoming year.

Under 1STOP AKSH the company is operating 10,000 plus e-Mitra kiosks in Rajasthan, out of which 500 plus are already serving as banking kiosks. The rest of these kiosks in rural areas will be roped in to operate on behalf of BoB.

The key focus areas for the company will be to create awareness and educate villagers about saving habits, use of micro finance solution and RuPay card, along with imparting knowledge about optimal funds management practices and debt counseling.  

The market is very happy with this news and the stock price has risen over 5% to Rs.27.50; its 52-week high and low at Rs.30.80 and at Rs.14.30 respectively.