Bartronics India Empanelled by Bank of Maharashtra for 5 Years
Filing Summary
Bartronics India Limited announced it has been empanelled by Bank of Maharashtra as a Corporate Business Correspondent. The service empanelment contract has an initial term of five years, commencing from the date of acceptance of the empanelment letter. The consideration for the services is not a fixed amount. It will be determined based on a Service Level Agreement and will depend on the volume of business correspondent transactions handled. The agreement requires the submission of a Performance Bank Guarantee and adherence to the bank’s performance benchmarks.
Bartronics India Limited disclosed it has been empanelled by Bank of Maharashtra to function as a Corporate Business Correspondent (CBC). The company will provide business correspondent services to the bank under this arrangement. The disclosure was made in a regulatory filing dated November 03, 2025.
The nature of the contract is a service empanelment with an initial duration of five (5) years. The term will commence from the date Bartronics India Limited accepts the Empanelment Letter. The agreement includes a provision for extension, which is at the sole discretion of Bank of Maharashtra and will be based on mutually agreed terms.
The consideration for the contract is service-based and not a fixed sum. The financial terms will be governed by a Service Level Agreement (SLA) to be executed between the two parties. The total consideration will be dependent on the volume of business correspondent transactions processed by the company during the contract period.
As part of the significant terms, Bartronics India Limited is required to submit a Performance Bank Guarantee as prescribed by the bank. The company must also adhere to all service quality and performance benchmarks stipulated by Bank of Maharashtra.
The filing confirmed that the contract was awarded by a domestic entity. It also stated that the company’s promoter, promoter group, or group companies have no interest in Bank of Maharashtra. The transaction does not fall under the category of related party transactions.
Bank of Maharashtra is a major public sector bank in India. The bank offers a wide spectrum of banking products and services, catering to retail, agricultural, and corporate customers. Its business priorities include expanding its digital banking footprint and enhancing its service delivery network across the country.
Bartronics India Limited operates in the information technology sector. The company’s business focus is on providing Automatic Identification and Data Capture (AIDC) solutions. These solutions include barcode systems, Radio Frequency Identification (RFID) technology, and smart card applications for various industries.