BLS E-Services, a wholly-owned subsidiary of BLS International Services, has acquired Delhi-based banking business correspondent Starfin India for an undisclosed sum.
Starfin India, a business correspondent (BC) to State Bank of India (SBI), has more than 1,500 active customer service centres across 11 States. It also holds a national licence for the BC business.
Following the acquisition, Starfin India founder Jitender Singh will continue with BLS till March 2019. Later, he will move to his e-commerce venture, MiniDukan.
BLS E-services, with the vision of contributing to rural development through digitalisation, will set up its own network of franchisees to provide B2C services across the country.