Bartronics India Limited has executed a long-term Service Level Agreement (SLA) with Maharashtra Gramin Bank, marking a significant milestone in their seven-year association. The agreement builds upon the company's existing Corporate Business Correspondent contract and aims to substantially expand the bank's rural banking network across Maharashtra.

Contract Execution and Expansion Details

Strategic Network Expansion

The new SLA provides for a structured expansion of Maharashtra Gramin Bank's correspondent network in a phased manner. Bartronics plans to scale the network from approximately 350 to nearly 600 touchpoints, with strategic focus on deepening last-mile banking penetration across rural Maharashtra. The expansion includes addition of around 250 new Customer Service Points and is expected to generate cumulative revenues of approximately ₹30.00 crore over the next five years, subject to transaction volumes and service adoption.

Service Portfolio and Impact

Through this expanded engagement, Bartronics will continue supporting Maharashtra Gramin Bank's financial inclusion initiatives by facilitating essential financial services including account opening, cash deposits and withdrawals, fund transfers, remittances, Aadhaar-enabled payment services, enrollment under government and social security schemes, and financial literacy efforts for grassroots communities. The expansion program is expected to create meaningful employment opportunities through onboarding of local CSP agents, supervisors, and field-level support staff.

Management Commentary

Speaking on the occasion, Mr. N. Vidhya Sagar Reddy, Managing Director of Bartronics India Limited, stated: "This expanded engagement with Maharashtra Gramin Bank builds on our longstanding association and reflects the Bank's confidence in Bartronics' operational strength and field execution capabilities. With this mandate, we aim to deepen further access to secure, technology-enabled banking services across rural Maharashtra while creating sustainable livelihood opportunities."

Corporate Developments

The company had previously scheduled a Board of Directors meeting for November 14, 2025, to review unaudited financial results for the quarter and half-year ended September 30, 2025, and consider fund-raising options up to ₹300.00 crores through debt, equity, or a combination thereof. These developments align with Bartronics India's strategy to strengthen its position as a financial inclusion and rural fintech infrastructure provider across India's digital banking ecosystem.

Bartronics India Limited , a prominent player in technology-enabled financial inclusion solutions, has achieved a significant milestone in its partnership with Bank of Maharashtra. The company has been empanelled as a Corporate Business Correspondent (CBC) Vendor for a five-year term, marking a new chapter in their 15-year association.

Expansion Plans and Impact

Bartronics India Limited is set to significantly expand its operations under this new engagement:

Services Offered

As a Corporate Business Correspondent, Bartronics will facilitate a wide range of essential banking and financial services for Bank of Maharashtra, including:

• Account opening
• Deposits and withdrawals
• Fund transfers
• Remittances
• Microinsurance
• Social security enrollments
• Financial literacy initiatives

Strategic Importance

This empanelment is a testament to Bartronics' execution capability, operational excellence, and commitment to deepening financial inclusion across India. The company has consistently delivered strong performance in bank account openings and social security scheme sourcing.

Mr. N. Vidhya Sagar Reddy, Managing Director of Bartronics India Limited, commented on the development: "Our empanelment by Bank of Maharashtra is a strong validation of Bartronics' performance, credibility, and field execution strength. With this new engagement, we aim to expand our footprint to reach 3000 locations under Bank of Maharashtra while empowering communities through digital financial access."

Long-term Vision

Bartronics India Limited aims to play a transformative role in India's digital banking landscape. By leveraging its extensive CBC network through partnerships with seven banks, the company is working towards empowering underserved regions with accessible and secure financial services.

This expansion aligns with the broader goal of strengthening India's financial inclusion ecosystem through efficient service delivery, trained manpower, and measurable social impact. As Bartronics continues to grow its presence, it remains committed to bridging the gap in financial services accessibility across rural and semi-urban India.