Eraaya Lifespaces's subsidiary gets major contract from Punjab National Bank

Eraaya Lifespaces has informed exchanges that its subsidiary has secured a important declaration with Punjab National Bank (PNB), 1 of India's apical 3 nationalist assemblage banks. 

According to an speech filing, Eraaya Lifespaces' precocious acquired subsidiary, Ebix Cash Limited, has secured a declaration for Network Integrating Services from Punjab National Bank.

The declaration is valued astatine astir Rs 138.75 crores and has been awarded for different 3 years.

Since 2021, Ebix has been liable for managing Punjab National Bank’s enterprise-wide web crossed India

"The services covered nether this declaration volition encompass PNB’s extended network, including 10,800 branches, 5,000 ATMs, and 4,000 branches of PNB-sponsored Regional Rural Banks. Additionally, Ebix Cash volition negociate the state-of-the-art Data Centre located successful Delhi, the Advanced Network OperaƟons Centre, and the Disaster Recovery Centre successful Mumbai, on with 13 zonal offices and 131 ellipse offices," the institution said successful an speech filing.

Recently Eraaya Lifespaces Limited's committee approved raising funds up to Rs 1,028.7 crore done a preferential contented of securities. 

The institution said that the funds would beryllium utilized to augment the company’s semipermanent fiscal resources.