NSDL Payments Bank is most likely to begin its operations soon. The bank has already received the final nod from the Reserve Bank of India.
The payments bank is NSDL’s wholly-owned subsidiary and it will be headed by SP Narayanan, who was earlier with Idea Cellular and Vodafone, said a media report.
NSDL’s Managing Director and Chief Executive Officer GV Nageswara Rao have said that it has become challenging for digital companies to run their operations after the Supreme Court order blocking 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.”