Paul Merchants said that it has inked an agreement with Yes Bank as its Business Correspondent to offer services permitted by Reserve Bank of India (RBI) in the capacity of Business Correspondent.
"The Company has recently tied up with Yes Bank as its Business Correspondent, pursuant to which the Company would be offering the services as are permitted to be offered by Reserve Bank of India in the capacity of Business Correspondent," it said in a filing to the Bombay Stock Exchange.
Further, the company has also entered into a tripartite Referral Agreement with DCB Bank and Western Union Business Solutions (USA), LLC for offering International Outward Business Payment Solutions.
Under the pact, the company shall be referring the customers who are interested in availing these services to DCB Bank, the company said.
Meanwhile, shares of the company were trading at Rs 3910 a piece, down 1.99 per cent from the previous close at 10:14 hours on BSE.