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Digi payments: SBI & BoB get nod to set up intelligence arm
Financial Express Pune
|December 11, 2025
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.
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