BLS E-Services announces strategic acquisition of SBI and HDFC Bank CSPs through its subsidiary Zero Mass Pvt Ltd, boosting its BC segment footprint.
BLS E-Services Expands Reach with Acquisition of SBI and HDFC Bank CSPs
New Delhi, June 24, 2025 — In a strategic move to expand its rural banking footprint, BLS E-Services Ltd (BSE: 544107) has announced the acquisition of Customer Service Points (CSPs) of State Bank of India (SBI) and HDFC Bank through its wholly-owned subsidiary, Zero Mass Private Limited. This deal, executed under a slump sale agreement, falls under the Business Correspondent (BC) segment of Sub-K Impact Solutions Ltd, a recognized financial inclusion company.
The development was disclosed to the stock exchanges in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The press release and acquisition filing were both submitted on June 24, 2025.
Strategic Leap in the Business Correspondent Ecosystem
The acquisition represents a significant leap for BLS E-Services in the rapidly growing digital financial services space, especially in underbanked and rural regions. Through Zero Mass Private Limited, BLS E-Services will now onboard a strong network of CSPs who act as the first point of contact for millions of customers relying on banking access in remote areas.
This move not only enhances the company’s role in financial inclusion but also reinforces its relationship with two of India’s largest banking institutions: SBI and HDFC Bank. Both banks have relied heavily on CSP networks for extending their services beyond physical branches.
Why This Matters
The CSP network functions as a crucial channel in India’s financial infrastructure. These customer service agents facilitate essential banking services such as account opening, withdrawals, deposits, and fund transfers in areas where physical bank branches are sparse. BLS E-Services, through this acquisition, taps directly into an existing framework to scale its digital and doorstep banking services.
Official Statement and Future Plans
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While BLS E-Services has not publicly disclosed the financial terms of the acquisition, the company indicated this move aligns with its broader strategy of expanding its technology-led citizen service and fintech platforms.
The company stated in its press release:
“This acquisition is a strategic step in strengthening our business correspondent vertical. It allows us to bring more banking services to the underserved population and aligns with our vision to build a digitally empowered India.”
Industry insiders believe this deal could accelerate BLS E-Services’ ambitions in the digital public infrastructure segment, making it a major player in banking enablement alongside government service delivery.
Market Reaction and Outlook
Subsequent to the announcement, stocks of BLS E-Services attracted greater investor attention on the Bombay Stock Exchange, reflecting bullish sentiment regarding the opportunities for growth this acquisition presents.
With this strategic integration, BLS E-Services is now well-placed to diversify its income streams, improve last-mile connectivity, and pursue synergy opportunities with public sector as well as private banks.
With India’s on-going effort towards a cashless, digitally connected economy, the role of business correspondents and technology-driven CSPs will only intensify. BLS E-Services’ latest initiative places it in the vanguard.
About BLS E-Services Ltd
BLS E-Services Ltd is a digital service provider offering fintech, e-governance, and citizen-centric services across India. It operates through a wide network of franchise centers and partners to deliver services such as Aadhaar enrollment, banking, utility payments, and more.
