New Launch11 Dec 2025, 04:15 pm
State Bank of India to Subscribe Shares of Indian Digital Payment Intelligence Corporation for Fraud Prevention
AI Summary
State Bank of India (SBI) has received approval from the Reserve Bank of India (RBI) to establish Indian Digital Payment Intelligence Corporation (IDPIC), a Section 8 company under the Companies Act, 2013. SBI will subscribe 1,00,00,000 (One crore) equity shares of IDPIC at a face value of Rs. 10 per share for acquiring 50% stake in the Company. IDPIC is set up to promote the integrity, security, and resilience of India’s digital payments ecosystem by developing a robust digital public infrastructure that leverages advanced technologies. The initiative aims to maintain public confidence in digital payment systems by leveraging advanced technologies to curb payment related frauds.
Key Highlights
- State Bank of India to subscribe shares of Indian Digital Payment Intelligence Corporation
- IDPIC set up to promote the integrity, security, and resilience of India’s digital payments ecosystem
- IDPIC to leverage advanced technologies including AI, ML, and blockchain
- SBI to acquire 50% stake in IDPIC for INR 10,00,00,000
- IDPIC aims to maintain public confidence in digital payment systems