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NSDL Payments Bank Partnered with Multilink to Provide Banking Facilities

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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