Protean eGov Technologies Stakes Claim in NSDL Payments Bank

Protean eGov Technologies is acquiring a 4.95% stake in NSDL Payments Bank for Rs 30 crore to advance future-ready banking technologies and expand within the financial ecosystem. The transaction, aligned with Protean's vision for digital infrastructure, is set to finalize within 60 days.

Protean eGov Technologies announced its acquisition of a 4.95% stake in NSDL Payments Bank on Tuesday, investing Rs 30 crore into the venture.

An official statement from Protean highlighted the collaboration as a strategic move to develop and scale banking technologies, fostering innovation across the financial sector.

The agreement, reflecting Protean's long-term commitment to building robust digital infrastructure, is expected to conclude within the next 60 days.

(With inputs from agencies.)