Key Highlights
- Protean eGov Technologies approves acquisition of 4.95% equity stake in NSDL Payments Bank.
- Investment aimed at creating an anchor banking partnership for digital financial services.
- NSDL Payments Bank has over 3 million active customers as of September 2025.
- Collaboration to co-develop scalable and compliant digital banking technologies.
- Partnership to strengthen last-mile financial inclusion across urban and rural India.
Protean eGov Technologies Limited has approved the acquisition of a 4.95 percent equity stake in NSDL Payments Bank Limited, marking a strategic move to expand its presence in India’s digital financial ecosystem. The decision aligns with the company’s long-term vision of building population-scale digital infrastructure and strengthening partnerships within the regulated banking framework.
NSDL Payments Bank, a wholly owned subsidiary of National Securities Depository Limited, operates as a digital-first payments bank with a strong focus on financial inclusion. The bank offers paperless account opening, zero-balance digital savings accounts and instant payment solutions through platforms such as UPI, IMPS, Aadhaar-enabled Payment Systems and micro-ATMs. As of September 2025, it serves more than three million active customers across urban, semi-urban and rural regions.
The investment is expected to enable Protean to co-create, pilot and scale certified digital banking technologies using NSDL Payments Bank as an anchor partner. These solutions, developed to meet regulatory, security and scalability requirements, can later be extended to other banks, fintech companies and regulated financial institutions.
Protean brings over three decades of experience in building digital public infrastructure across taxation, social security and identity systems. Its nationwide assisted distribution network for citizen-centric services is expected to complement NSDL Payments Bank’s digital and assisted model, allowing deeper penetration into last-mile segments such as MSME credit, pension services and other inclusion-focused initiatives.
Management from both organisations indicated that the collaboration goes beyond a financial investment, with a shared objective of advancing secure, technology-led banking solutions. The partnership is positioned to contribute to the broader evolution of India’s digital financial architecture, with a focus on scale, compliance and inclusive access.