Yak Nsdl Payments Banking Concern Starts Operations Inwards India

The National Securities Depository Ltd (NSDL) Payments Bank has started operations every bit payments banking venture amongst resultant from 29th Oct 2018. The Reserve Bank has issued a license to the banking venture nether Section 22 (1) of the Banking Regulation Act, 1949 to bear on the concern of payments banking venture inwards India.  As a payments banking venture ,NSDL tin bring need deposits, in addition to number ATM/debit cards, amid other activities. However, it cannot number credit cards, in addition to undertake lending activities.

About NSDL :

• Established inwards August 1996, NSDL is the offset in addition to the largest depository inwards India. It provides bouquet of services to terminate investors, stock brokers, stock exchanges, custodians, issuer companies etc through its network of to a greater extent than than 260 depository participants / concern partners.
• Quick Facts
• Full Form : National Securities Depository Limited
• Founded : 18th August 1996
• Headquarters : Mumbai
• MD & CEO : G. V. Nageswara Rao

Important Note :

National Securities Depository Limited, Bombay was 1 of the eleven applicants which were issued in-principle blessing past times the Reserve Bank of Republic of Republic of India (RBI) for setting upwards a payments banking venture inwards Nov 2014. Other applicants are :

• Aditya Birla Nuvo Limited
• Airtel chiliad Commerce Services Limited
• Cholamandalam Distribution Services Limited
• Department of Posts
• Fino PayTech Limited
• Reliance Industries Limited
• Shri Dilip Shantilal Shanghvi
• Shri Vijay Shekhar Sharma
• Tech Mahindra Limited
• Vodafone m-pesa Limited

Of these, Airtel Payments Bank, Republic of Republic of India Post Payments Bank, FINO Payments Bank, Paytm Payments Bank, Aditya Birla Idea Payments Bank in addition to Jio Payments Bank, are already inwards operation.

sponsored links

Share this post