RBI adds NSDL Payments Bank Limited to Second Schedule

The RBI (Reserve Bank of India) has added NSDL Payments Bank Limited to its Second Schedule. This inclusion signifies that NSDL Payments Bank has met the stringent criteria to be recognized as a "scheduled bank" under the Reserve Bank of India Act. This status grants the bank certain privileges, including direct access to RBI's clearing and settlement facilities and the ability to borrow from the RBI at the bank rate. This enhances NSDL Payments Bank's operational capabilities and public trust.