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Axis, RBL & other banks take stake in NPCI

Urban cooperative banks and RRBs also come on board

Abhijit Lele  |  Mumbai 

Private sector lenders, including Axis Bank, Kotak Mahindra Bank and RBL, have taken a small stake in the National Payments Corporation of India (NPCI) as part of process to broad-base its shareholding. NPCI, the umbrella organisation for all retail payments system in the country, has broad-based its shareholding base to 56 banks, from 10 banks earlier. A P Hota, managing director and chief executive officer, NPCI, in a statement said : "Being the payments system utility for all the banks in the country, it was a natural progression. It was also a requirement from the Reserve Bank ...

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Axis, RBL & other banks take stake in NPCI

Urban cooperative banks and RRBs also come on board

Urban cooperative banks and RRBs also come on board Private sector lenders, including Axis Bank, Kotak Mahindra Bank and RBL, have taken a small stake in the National Payments Corporation of India (NPCI) as part of process to broad-base its shareholding. NPCI, the umbrella organisation for all retail payments system in the country, has broad-based its shareholding base to 56 banks, from 10 banks earlier. A P Hota, managing director and chief executive officer, NPCI, in a statement said : "Being the payments system utility for all the banks in the country, it was a natural progression. It was also a requirement from the Reserve Bank ... image
Business Standard
177 22

Axis, RBL & other banks take stake in NPCI

Urban cooperative banks and RRBs also come on board

Private sector lenders, including Axis Bank, Kotak Mahindra Bank and RBL, have taken a small stake in the National Payments Corporation of India (NPCI) as part of process to broad-base its shareholding. NPCI, the umbrella organisation for all retail payments system in the country, has broad-based its shareholding base to 56 banks, from 10 banks earlier. A P Hota, managing director and chief executive officer, NPCI, in a statement said : "Being the payments system utility for all the banks in the country, it was a natural progression. It was also a requirement from the Reserve Bank ...

image
Business Standard
177 22