BLS E-Services Unit to Acquire SBI and HDFC Bank CSPs
ECONOMY & POLICY

BLS E-Services Unit to Acquire SBI and HDFC Bank CSPs

BLS E-Services, a leading provider of e-governance services, business correspondence solutions and e-assisted services across India, through it’s subsidiary, Zero Mass (“ZERO Mass”), has entered into definitive agreement to acquire Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank under the Business Correspondence (BC) business of Sub-K Impact Solutions (“Sub-K”) on a slump sale basis for a total consideration of approx. Rs 60.5 million. The consummation of the transaction is subject to approvals from the respective Banks and other regulatory/ statutory authorities, as may be applicable, and completion of certain Condition Precedents of the definitive agreement.

This strategic acquisition marks a significant step in the Company’s commitment to expand financial inclusion and enhance last-mile banking service delivery across India, particularly in Andhra Pradesh, Telangana, and other key states.

Lokanath Panda, Chief Operating Officer, BLS E-Services said, “We are quite excited to consolidate Sub-K’s Customer Service Points (CSP) network into our platform. This strategic move significantly enhances our operational footprint across rural and semi-urban regions, reinforcing our commitment to bridging the financial services gap. It is a pivotal step aligned with our long-term vision of providing accessible, technology-driven solutions nationwide. Our ambition is to emerge as the leading enabler of the Government of India's financial inclusion agenda, empowering under served communities and driving inclusive economic growth." 

With this acquisition, BLSe further consolidates its position as a trusted and scalable partner for banks and financial institutions aiming to deepen their outreach and enhance financial service delivery through a robust CSP ecosystem.

BLS E-Services, a leading provider of e-governance services, business correspondence solutions and e-assisted services across India, through it’s subsidiary, Zero Mass (“ZERO Mass”), has entered into definitive agreement to acquire Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank under the Business Correspondence (BC) business of Sub-K Impact Solutions (“Sub-K”) on a slump sale basis for a total consideration of approx. Rs 60.5 million. The consummation of the transaction is subject to approvals from the respective Banks and other regulatory/ statutory authorities, as may be applicable, and completion of certain Condition Precedents of the definitive agreement.This strategic acquisition marks a significant step in the Company’s commitment to expand financial inclusion and enhance last-mile banking service delivery across India, particularly in Andhra Pradesh, Telangana, and other key states.Lokanath Panda, Chief Operating Officer, BLS E-Services said, “We are quite excited to consolidate Sub-K’s Customer Service Points (CSP) network into our platform. This strategic move significantly enhances our operational footprint across rural and semi-urban regions, reinforcing our commitment to bridging the financial services gap. It is a pivotal step aligned with our long-term vision of providing accessible, technology-driven solutions nationwide. Our ambition is to emerge as the leading enabler of the Government of India's financial inclusion agenda, empowering under served communities and driving inclusive economic growth. With this acquisition, BLSe further consolidates its position as a trusted and scalable partner for banks and financial institutions aiming to deepen their outreach and enhance financial service delivery through a robust CSP ecosystem.

Next Story
Infrastructure Urban

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Next Story
Building Material

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

Next Story
Infrastructure Urban

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?