NSDL Payments Bank Added to RBI’s List of Scheduled Banks

Circular No. RBI/2025-26/67 DoR.RET.REC.40/12.07.160/2025-26; Dated: 17.07.2025

The Reserve Bank of India (RBI) has, in the exercise of powers conferred under Section 42 of the Reserve Bank of India Act, 1934, directed the inclusion of NSDL Payments Bank Limited in the Second Schedule to the Act.

1. Implication of Being a Scheduled Bank

With this inclusion, NSDL Payments Bank Limited attains the status of a Scheduled Bank, which means:

• It is now eligible for loans from the RBI at the bank rate.
• It can participate in the clearinghouse arrangements.
• It must maintain cash reserves with the RBI as prescribed under Section 42.
• It gains improved reputation and credibility in the financial sector.

2. Background on NSDL Payments Bank

NSDL Payments Bank, a subsidiary of National Securities Depository Limited (NSDL), is a digital-first bank that focuses on providing accessible and efficient banking solutions. Its inclusion as a scheduled bank reflects its growing presence and compliance with RBI norms.

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