Virtual Galaxy Infotech Limited Secures Order for Core Banking Solution Upgrade from Mizoram Cooperative Apex Bank
Virtual Galaxy Infotech Limited has received a Purchase Order worth approximately ₹5.45 crore from its existing client, Mizoram Cooperative Apex Bank Ltd., for the upgradation of its Core Banking Solution (CBS) on an Application Service Provider (ASP) model. The contract, dated August 18, 2026, covers both the Head Office and 36 branches of the Scheduled Bank, including services related to Internet Banking and Mobile Application for Corporate and Retail clients.The order confirms Virtual Galaxy Infotech’s ongoing business relationship with Mizoram Apex Bank Ltd., a service which the company has provided since 2012. The bank is currently utilizing Virtual Galaxy Infotech's E-Banker Core Banking Solution Software.
The total value of the contract, set at approximately ₹5.45 crore (exclusive of applicable taxes), comprises a one-time setup charge along with monthly recurring ASP charges over a five-year contract period.
Details regarding the significance and scope of the order are summarized below:
| Particulars | Details |
|---|---|
| Client | Mizoram Cooperative Apex Bank Ltd. (Scheduled Bank) |
| Nature of Order | Core Banking Solution (CBS) Upgradation on ASP Model |
| Scope | Head Office and 36 branches; Internet Banking and Mobile Application (Corporate & Retail) |
| Contract Value | Approximately ₹5.45 crore (exclusive of applicable taxes) |
| Timeline | Implementation period is two months from the date of the Purchase Order, with a contract period of five years thereafter. |
The receipt of this purchase order underscores the continued confidence that Mizoram Apex Bank Ltd. has in Virtual Galaxy Infotech’s technology solutions and service delivery capabilities. The contract falls under the category of domestic entity awards.
VGINFOTECH Stock Price Movement
As of 1:33 PM, shares of Virtual Galaxy Infotech Limited are shedding value in live trading, slipping 3.18% to trade at ₹146 per share. The stock has seen a total traded volume of 35,000 shares during the session today.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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