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NSDL Payments Bank likely to start operations in few weeks, says report

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NSDL Payments Bank is set to start operations soon after it received clearances from the Reserve Bank of India, The Times of India reported.

NSDL Payments Bank likely to start operations in few weeks, says report
NSDL Payments Bank is set to start operations soon after it received clearances from the Reserve Bank of India, The Times of India reported.
GV Nageswara Rao, the managing director and chief executive of National Securities Depository Limited (NSDL), told the newspaper that it has become challenging for digital players to operate after the Supreme Court order denying Aadhaar-based authentication for onboarding customers.
“However, there are business propositions present that we aim to pursue,” Rao told the paper, adding that "one option available for banks is to earn a spread from deposits, the other is to earn from transactions.”
NSDL's wholly-owned subsidiary, NSDL Payments Bank, will be headed by SP Narayanan, who was earlier with Idea Cellular and Vodafone, according to the report.
 

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