Vedant Asset Ltd, a leading financial services network which offer an array of services ranging from mutual funds to investments, insurance, loans, payments, etc, today announced that it has launch of its Digital Payment Platform - 'Vedant Pay' as a part of their Banking Correspondence Business.
Vedant Pay is the new-age digital payments platform available on the smartphone. It will enable its users to make financial transactions similar to banking, like withdrawal and deposit of money, balance enquiry, sending money to others, etc. and facilitates making payments for bills and recharges.
Commenting on the development, Lallit Tripathi, Chairman & Managing Director, Vedant Asset said, "With the increased government focus on digitalisation and digital banking, we have launched our Micro ATM (mATM services) and UPI services which will enabled banking services in rural and remote locations."
"In such areas, banking is undertaken through the application of the Vedant Pay which is connected to mATM, through which people in these areas undertake banking transactions like withdrawing cash and other value-added services such as mutual funds, insurance payments and loans related transactions. The partner attached with Vedant Pay earns his commission by facilitating the transactions in these remote areas," he added.
Incorporated in 2015, Vedant Asset Limited is engaged in the business as a Corporate Business Correspondents (BC) of Bank of India, Jharkhand Rajya Gramin Bank (JRGB) and Madhya Pradesh Gramin Bank (MPGB) and as Mutual Funds Distribution through a partner base of more than 350 Vedant Mitra partners working in various rural and semi-urban locations and handling more than Rs 100 crore of assets under mutual fund distribution business. In September 2022, the company entered the capital market with its initial public offering and is now listed on BSE SME Platform.
Mumbai, February 21, 2023
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