Digi payments: SBI & BoB get nod to set up intelligence arm
The Financial Express, Chennai, Thu, 11 Dec 2025
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State Bank of India (SBI) and Bank of Baroda (BoB) have received approval from the Reserve Bank of India (RBI) to form Section-8 companies for digital payments intelligence platform called Indian Digital Payment Intelligence Corporation (IDPIC). The platform aims to improve fraud risk management through real-time intelligence sharing.

Digi payments: SBI & BoB get nod to set up intelligence arm FE BUREAU Mumbai, December 10 STATE BANK OF India (SBI) and Bank of Baroda (BOB) have received approval from the Reserve Bank of India (RBI) to form section-8 companies under the Companies Act, 2013 for digital payments intelligence platform called Indian Digital Payment Intelligence Corporation (IDPIC), lenders informed the exchanges on Wednesday. Section 8 companies are formed for nonprofit purposes.

The approval is subject to exemption granted by the Department of Financial Services to hold more than 30% stake in the proposed company till October 16,2026.

The platform aims to improve fraud risk management through real-time intelligence sharing.

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