Protean picks up 4.95 pc stake in NSDL Payments Bank for Rs 30 cr

Mumbai, Dec 16 (PTI) 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. PTI AA HVA