BLS E-Services Unit to Acquire SBI and HDFC Bank CSPs
27 Jun 2025
2 Min Read
CW Team
BLS E-Services, a leading provider of e-governance services, business correspondence solutions and e-assisted services across India, through it鈥檚 subsidiary, Zero Mass (鈥淶ERO Mass鈥�), 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 (鈥淪ub-K鈥�) 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鈥檚 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, 鈥淲e are quite excited to consolidate Sub-K鈥檚 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鈥檚 subsidiary, Zero Mass (鈥淶ERO Mass鈥�), 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 (鈥淪ub-K鈥�) 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鈥檚 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, 鈥淲e are quite excited to consolidate Sub-K鈥檚 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
Chennai Plans Rs 2 Bn Footpath Upgrade For 200 km
The Greater Chennai Corporation (GCC) will build 200 kilometres of new footpaths at an estimated Rs 2 billion to make public streets safer for pedestrians. In the first phase, the civic body has invited bids from consultants to create designs worth about Rs 10 million, insisting on layouts that cut pedestrian鈥搗ehicle conflict and comply with Indian Road Congress, Complete Streets and GCC inclusive-design standards.Plans call for sufficient pavement width, seating areas, and seamless links to bus stops and Metro stations. 鈥淎 truly walkable city needs continuous, accessible non-motorised-tra..
Next Story
Adani Airports Raises $1 Billion for Mumbai Airport Expansion
Adani Airports Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises and India鈥檚 largest private airport operator, has successfully secured $1 billion financing through a project finance structure for its Mumbai International Airport (MIAL). The transaction involves issuance of $750 million notes maturing July 2029 (鈥淣otes鈥�) which shall be used for refinancing. The financing structure also includes provision to raise an additional $250 million, resulting in total financing of $1 billion. This framework will provide enhanced financial flexibility for the capital expenditure prog..
Next Story
Delhivery Expands Gateway Hub to Enhance Capacity
Delhivery, India's largest fully integrated logistics service provider, today announced the expansion of its Chandigarh Gateway Hub. The facility, spread across 2.35 lakh sq ft will accelerate the region鈥檚 economic growth and create thousands of direct and indirect work opportunities. It will also empower thousands of businesses in the region, enabling them with access to nationwide markets through improved inventory storage and order fulfillment capabilities."Chandigarh and its surrounding region remain a core market for us. This expansion directly addresses the needs of local businesses, e..
