Vakrangee Limited is one of the leading companies in extending wide networks of physical and digital services. It has recently come up with its Business Responsibility and Sustainability Report, or BRSR as abbreviated, for the financial year 2023-24. The report added its sustainable business model to reflect the company’s continued commitment to social and financial inclusions, especially in unaddressed and unserved sections. Presently, the company has 21,568 outlets across the country under its franchisee-based model, serving various services related to banking, insurance, ATM facilities, and e-commerce.
Vakrangee Limited was incorporated in 1990 to provide end-to-end essential services to the last-mile citizen in every block of the country, whether rural or urban, through its Vakrangee Kendras. It was committed to addressing the issue of the digital and financial divide by providing services that promote economic inclusion. More than 99% of turnover comes from its Kendras, which Vakrangee propels as a one-stop solution for all banking, e-commerce, healthcare, and telecom services. The report underlines the fact that Vakrangee has operational outlets in 31 states and Union Territories, substantially serving local economies with basic essential services.
In the BRSR, Vakrangee weaves a sincere thematic thread of sustainability, citing ways in which environmental consciousness is being integrated into its business model. The group updated that it currently sources 16% of energy consumption from solar power and has integrated eco-friendly technologies like paperless ATMs to minimize its environmental footprint. It is also important to note that Vakrangee’s emphasis on green infrastructure and renewable energy consumption is fully aligned with long-term objectives around minimizing the carbon footprint.
The sustainability practices of Vakrangee also bear enough significance on employee well-being. According to the company, it employs a total workforce of 217 employees, of which 11.5% are women. Vakrange’s equal opportunity policy leads to an inclusive workplace culture. Besides this, the company extends extensive health and safety benefits, including health insurance and wellness programs, to all its permanent employees. These continuous efforts to retain talent at Vakrangee materialize into a lesser turnover ratio compared to the previous years.
On matters of corporate governance, Vakrangee is led by several significant committees responsible for the company’s ESG practices. Reiterating this, the leadership says, “Vakrangee shall continue to conduct its affairs with the highest standards of integrity, transparency, and accountability.”
Conclusion
Vakrangee Limited’s BRSR, 2023-24, strengthens Vakrangee’s commitment to fostering financial and social inclusion in India while embracing sustainable business practices. While expanding its operations and offering more digital services, the company still addresses key areas such as environmental stewardship, employee welfare, and governance to ensure that it contributes positively to the economy and society. Vakrangee has been at the forefront of efforts to serve the unbanked and underserved sections through the largest network of Kendras, placing it as an important cog in the socio-economic development of the country.
Source: BRSR
Credit: Vakrangee Limited