NSDL Payments Bank has made a strategic partnership with Multilink, a fintech company to build agent points across India to boost the banking facilities in rural and semi-urban areas of India through the Neo banking system.
- Objective of Partnership: To boost digitization and to expand the benefits of financial services to all sections of society.
- Under the partnership, Multilink will form Agent points named NSDL-MULTILINK point/BC Agent Point.
- The customers would also be enabled to open a savings account and perform banking from those Agent points.
- The customers could also deposit and withdraw cash from BC agent points along with instant money transfers.
What is Neo bank?
It is a virtual digital bank that would provide the complete banking experience online through digital platforms like a mobile app. It won’t have any physical banking operations.
Recent Related News:
In April 2021, Aceware FinTech Services, a Kerala-based fintech services company, launched Kerala’s first neobank called Ace Money Neobank, in partnership with YES Bank and ICICI Bank.
About NSDL Payments Bank:
NSDL Payments Bank is the 1st and largest depository in India
Establishment – 2018
Headquarters – Mumbai, Maharashtra
CEO – Ashutosh Singh
About Multilink:
Establishment – 2008
Headquarters – Mumbai, Maharashtra
Founder and CEO – Chirag Shah
