Nsdl Payments Banking Corporation Starts Operations Inward India

The National Securities Depository Ltd (NSDL) Payments Bank has started operations every bit payments depository fiscal establishment with number from 29th Oct 2018. The Reserve Bank has issued a license to the depository fiscal establishment nether Section 22 (1) of the Banking Regulation Act, 1949 to deport on the trace of piece of occupation concern of payments depository fiscal establishment inward India.  As a payments depository fiscal establishment ,NSDL tin convey need deposits, as well as number ATM/debit cards, alongside other activities. However, it cannot number credit cards, as well as undertake lending activities.
About NSDL :
  • Established inward August 1996, NSDL is the get-go as well as the largest depository inward India. It provides bouquet of services to destination investors, stock brokers, stock exchanges, custodians, issuer companies etc through its network of to a greater extent than than 260 depository participants / trace of piece of occupation 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 ane of the eleven applicants which were issued in-principle approving yesteryear the Reserve Bank of Republic of Republic of India (RBI) for setting upwards a payments depository fiscal establishment inward Nov 2014. Other applicants are :
  • Aditya Birla Nuvo Limited
  • Airtel one k 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 as well as Jio Payments Bank, are already inward operation.
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