Atishay Limited , a company operating in the fintech space, has announced a significant new contract that strengthens its position in the agricultural and rural banking ecosystem. The company has been awarded a work order by Bhilwara Central Cooperative Bank Ltd. for the supply, installation, commissioning, and maintenance of Micro ATMs.

Contract Details

The contract value includes all applicable duties and taxes, providing a comprehensive solution for the cooperative bank's needs.

Impact and Significance

This new work order is noteworthy for several reasons:

1. Rural Financial Inclusion: By supplying Micro ATMs to Primary Agricultural Credit Societies, Atishay Limited is contributing to the digital financial inclusion efforts in rural areas of Rajasthan.

2. Strengthening Market Presence: The contract reinforces Atishay Limited's presence in the agricultural and rural banking ecosystem, potentially opening doors for similar projects in the future.

3. Support for Cooperative Banking: The project aligns with the broader goal of digitizing and modernizing India's cooperative banking network, which plays a crucial role in rural finance.

Company Statement

Atishay Limited has stated that this order strengthens its presence in the agricultural and rural banking ecosystem and supports digital financial inclusion in India's cooperative banking network.

Additional Information

The company has clarified that neither the promoters nor any group companies have any interest in Bhilwara Central Cooperative Bank Ltd., the entity awarding the contract. Furthermore, the contract does not involve any related party transactions, ensuring transparency in the deal.

As the financial technology sector continues to evolve, particularly in rural areas, contracts like these highlight the ongoing efforts to bridge the digital divide in banking services across India.

Atishay Limited , a technology solutions provider, has clinched a significant contract worth ₹197.40 lakhs from Bhilwara Central Cooperative Bank Ltd. The work order entails the supply, installation, commissioning, and maintenance of Micro ATMs for Primary Agricultural Credit Societies (PACS) in Bhilwara, Rajasthan.

Contract Details

Impact and Implications

This contract marks a significant step for Atishay Limited in strengthening its presence within the agricultural and rural banking ecosystem. The implementation of Micro ATMs in PACS aligns with the broader goal of promoting digital financial inclusion in India's cooperative banking network.

Micro ATMs are portable devices that can be used for various banking transactions, including cash withdrawals, deposits, and balance inquiries. Their deployment in rural areas can significantly enhance access to banking services for farmers and rural populations who may not have easy access to traditional bank branches.

Company Statement

Atishay Limited has confirmed that neither its promoters nor any group companies have any interest in Bhilwara Central Cooperative Bank Ltd. The company has also clarified that the contract does not involve any related party transactions, ensuring transparency in the deal.

Market Implications

While the immediate financial impact of this contract on Atishay Limited's overall revenue may be modest, it represents a strategic move into the rural banking technology sector. The successful execution of this project could potentially open doors for similar contracts with other cooperative banks and rural financial institutions across India.

As the country continues to push for greater financial inclusion and digitization of banking services in rural areas, companies like Atishay Limited that can provide tailored technological solutions stand to benefit from this growing market segment.

Investors and market watchers will likely keep an eye on Atishay Limited's performance in executing this contract, as it could be indicative of the company's capabilities in handling similar projects in the future.