Protean eGov Technologies Limited announced the outcome of its Board Meeting held on December 16, 2025. The Board approved the proposal to acquire a 4.95% equity stake in NSDL Payments Bank (NSDL PB) through an equity investment of ₹30.2 crore. The acquisition is expected to be completed within 60 days from the execution of the agreement. NSDL Payments Bank, a digital-first banking platform, commenced operations in October 2018 and focuses on financial inclusion. Its business model is B2B2C, offering digital banking solutions, inclusive banking products, merchant acquisition services, and distribution of third-party products like insurance and mutual funds. For FY25, NSDL PB reported a gross income of ₹721.6 crore, ₹719.7 crore in FY24, and ₹541.2 crore in FY23. In addition to the investment, 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 been instrumental in the startup teams of major banks and a payments bank. He was previously the Chief Operations Officer at India Post Payments Bank.