RBI Grants Scheduled Bank Status to NSDL Payments Bank

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  • Last Updated on 15 July, 2025

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NSDL Payments Bank Scheduled Status

Notification No. DoR.LIC.No.S2196/16.13.215/2025-26, Dated: 19.06.2025

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, thereby conferring upon it the status of a Scheduled Bank.

1. Legal Basis of Inclusion

The inclusion has been made under Clause (a) of Sub-section (6) of Section 42 of the RBI Act, 1934, which empowers the Reserve Bank to notify banks as scheduled banks once they meet the prescribed criteria.

2. What Scheduled Bank Status Means

Being classified as a Scheduled Bank offers several advantages, including:

  • Access to RBI’s liquidity adjustment facility (LAF)
  • Membership in the clearinghouse
  • Eligibility to participate in government and central bank auctions
  • Higher credibility and operational standing in the banking ecosystem

3. About NSDL Payments Bank

NSDL Payments Bank, a subsidiary of National Securities Depository Limited (NSDL), operates in the digital banking space, focusing on leveraging technology to provide accessible financial services. Its inclusion in the list of scheduled banks marks a significant step in its evolution and regulatory stature.

4. Conclusion

With this recognition, NSDL Payments Bank joins the list of banks formally recognised by the RBI as part of India’s core banking structure, paving the way for broader participation in central banking operations and enhanced service delivery.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied