Protean eGov Technologies Limited announced today, December 16, 2025, that its Board of Directors has approved a proposal to acquire a 4.95% equity stake in NSDL Payments Bank (NSDL PB) through an investment of ₹30.2 crore. This strategic acquisition is part of Protean's long-term vision to build trusted, population-scale digital infrastructure and develop future-ready banking technologies. The company views this investment as a collaboration that combines NSDL Payments Bank’s digital-first banking platform with Protean's experience in building regulated digital systems. The acquisition is expected to be completed within 60 days from the execution of the agreement. In addition to the acquisition, the Board also approved the appointment of Mr. V Easwaran as an Additional Director in the category of Executive Director, effective December 17, 2025, for a period of three years, subject to member approval. Mr. Easwaran brings over 30 years of experience in the banking industry, with a focus on wholesale, retail, and treasury business, and has previously held key positions at India Post Payments Bank, Kotak Mahindra Bank, HDFC Bank, and Standard Chartered Bank. The Board Meeting commenced at 3:30 P.M. and concluded at 4:30 P.M. NSDL Payments Bank, a subsidiary of NSDL, commenced operations in October 2018 and focuses on financial inclusion through a B2B2C model, offering digital banking solutions and other financial products. For FY25, NSDL Payments Bank reported a gross income of ₹721.6 crore.
