Update from CEO
Summary of Progress and future developments:
Vedavaag is increasing its basket of services to citizen from FI (Banking) services toInsurance Education Retail and logistics and Agri commodity services.
The company is making over all its locations with VARISHTA branded centers to offer arange of services under one umbrella. The company is bringing in Mr. Ananth s/o Mr. JMuralikrishna MD of the company on board as a Director. Mr. Ananth is a Masters inRobotics and pursuing his PHD in Robotics after spending three years in a Fortune 250company Parker Hamilton USA. This is to give thrust to company's entry into emergingtechnologies like AI ML IoT to launch driver alertness maintenance system citizensecurity solutions and others.
The company has signed up with Bank of Baroda as a National Business Correspondent andalso has been shortlisted by Punjab National Bank as a National BC. This apart SBI hasmandated the company to setup 420 plus customer service points. In all the company expectsits FI presence to go up from the present 2754 CSPs to 4000 CSPs by the financial yearend.
The company has done FI services of Gross Transaction Value (GTV) of Rs 9714Cr for thefinancial year 20-21 and expected to reach a GTV of about Rs.12000Cr for the financialyear 21-22.
The company is executing a manufacture supply and maintenance contract of cloudenabled IoT based safety devices in public transport vehicles in the state of AP.