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Summary is AI Generated. Newsroom Reviewed
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Summary is AI Generated. Newsroom Reviewed
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Protean eGov will acquire a 4.95% stake in NSDL Payments Bank for Rs 30 crore
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The investment aims to develop scalable, future-ready banking technologies
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Protean views this as part of building trusted, population-scale digital infrastructure
Protean eGov Technologies on Tuesday announced that it will acquire a 4.95 per cent stake in NSDL Payments Bank for Rs 30 crore.
"This collaboration enables us to develop future-ready banking technologies that can be proven at scale and extended across the wider financial ecosystem," an exchange filing from Protean said.
The investment is part of Protean's long-term vision of building trusted, population-scale digital infrastructure, as per an official statement.
The transaction is expected to be completed within 60 days from the execution of the agreement, it said.
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