Joint Ventures30 March 2026 at 06:52 am
Avio Smart Market Stack to Expand Indian Overseas Bank’s Rural Banking Outreach
AI Summary
Avio Smart Market Stack Limited (ASMS) has received a Purchase Order from Indian Overseas Bank for the implementation of Corporate Business Correspondent (CBC) services. The order is valid for an initial period of three years and covers engagement, deployment, and management of Business Correspondent Agents (BCAs), along with cash handling and field-level service delivery. The deployment will be supported by technology infrastructure including micro-ATMs, biometric authentication devices, and integration with the Bank’s financial inclusion systems. The program is expected to generate employment opportunities and strengthen grassroots-level banking infrastructure.
Key Highlights
- ASMS received a Purchase Order from Indian Overseas Bank for CBC services
- The contract is valid for an initial period of three years with provision for extension
- ASMS will undertake end-to-end responsibility for onboarding, training, and monitoring of BCAs
- The deployment will be supported by technology infrastructure including micro-ATMs, biometric authentication devices, and integration with the Bank’s financial inclusion systems
- The program is expected to generate employment opportunities and strengthen grassroots-level banking infrastructure
ASMSIT Enabled Services
BARTRONICS INDIA LTD.Price Impact