NSDL to start payment bank operations in three months
PremiumInitially, basic products will be launched in terms of customer being able to open accounts, says NSDL MD and CEO G.V. Nageswara Rao
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Mumbai: National Securities Depository Limited (NSDL) will start payment bank operations in three months’ time, said G.V. Nageswara Rao, managing director and chief executive officer, NSDL.
“We will get licence before February. Initially, basic products will be launched in terms of customer being able to open accounts. Additional products will take a few more months," Rao said.
So far only Airtel Payments Bank has started operations.
All payments bank licence holders are required to get their final licence by February end from the Reserve Bank of India(RBI), before their in-principle approval lapses.
