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

27 Jun 2025 CW Team

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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..