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IDBI keen to tie up with NSDL for payments bank

Press Trust of India  |  Mumbai 

State-run lender IDBI Bank today said it has approached the payment bank licensee National Securities Depository (NSDL) to buy a stake in the new differentiated bank.

IDBI Bank is one of the promoters of NSDL and holds 30 per cent in the largest depository.

"We have approached them and are now waiting for their response. If they respond positively, we would like to join hands with them for a payment bank," IDBI Bank managing director and chief executive Kishor Kharat told reporters here this evening.

NSDL is one of the applicants who has received in-principle approval from RBI to set up a payment bank last year.

Last August, the RBI accorded in-principle approvals to 11 out of 41 aspirants to start payment banks, including entities led by industrialists Mukesh Ambani, Kumarmangalam Birla, Sunil Mittal and Dilip Shanghvi, Anand Mahindra and Vodafone among others apart from the Department of Posts.

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First Published: Tue, March 01 2016. 20:58 IST