19 Jul 2025
The Reserve Bank of India (RBI) has officially included NSDL Payments Bank Limited in the Second Schedule of the Reserve Bank of India Act, 1934 . This inclusion, notified on June 19, 2025.
The Reserve Bank of India (RBI) has indeed included NSDL Payments Bank Limited in the Second Schedule of the Reserve Bank of India Act, 1934, as notified on June 19, 2025, and published in the Gazette of India on July 10, 2025. This inclusion grants NSDL Payments Bank the status of a scheduled bank, recognizing its financial soundness and operational robustness.
Benefits of Scheduled Bank Status:
Access to RBI's Financial Support Facilities: NSDL Payments Bank can now access RBI's liquidity adjustment facility, repo, and reverse repo facilities.
Participation in Government Auctions: The bank can participate in government-related financial activities and auctions.
Depositing Surplus Funds with RBI: NSDL Payments Bank is eligible to deposit surplus funds with the RBI.
Enhanced Credibility: The scheduled bank status boosts confidence among customers and institutional partners.
Wider Operational Scope: The bank can now engage in a broader range of financial activities.
The RBI's decision reflects its commitment to promoting financial inclusion and supporting digital banks that extend last-mile connectivity in banking services.