Bank of Baroda Receives RBI Approval for Digital Payments Intelligence Platform
Bank of Baroda gets RBI nod to set up a section 8 company for a Digital Payments Intelligence Platform, with permission to hold over 30% shares in Indian Digital Payment Intelligence Corporation (IDPIC) till Oct 16, 2026.
The approval allows the bank to venture into digital payments intelligence, but the actual impact will depend on the performance and success of the new entity.
RBI approval indicates a positive step for Bank of Baroda in expanding its digital payment capabilities.
* Bank of Baroda has received approval from the Reserve Bank of India (RBI) to establish a section 8 Company under the Companies Act, 2013, for a Digital Payments Intelligence Platform. * The approval is subject to exemption from Section 19(2) of the Banking Regulation Act, 1949, granted by the Department of Financial Services, Ministry of Finance, Government of India. * This exemption allows Bank of Baroda to hold shares exceeding 30% of the paid-up share capital in the proposed section 8 Company, namely Indian Digital Payment Intelligence Corporation (IDPIC), until 16 October 2026.
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Bank of Baroda filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Bank of Baroda. Read the original for the full detail.