RBI approves State Bank of India's digital payments intelligence venture

State Bank of India (SBI) today announced that it has received approval from the Reserve Bank of India (RBI) to establish a Section 8 Company under the Companies Act, 2013. This new entity will operate as the "Indian Digital Payment Intelligence Corporation" and focus on developing a Digital Payments Intelligence Platform. The approval was granted on December 10, 2025.

The RBI's consent is subject to an exemption provided by the Department of Financial Services, Ministry of Finance, Government of India. This exemption allows SBI to hold shares exceeding 30% of the proposed Section 8 Company's paid-up share capital, overriding Section 19(2) of the Banking Regulation Act, 1949, and Section 53 of the Act ibid.

This special dispensation for SBI to exceed the usual shareholding limit is valid until October 16, 2026. The establishment of this Section 8 Company underscores SBI's strategic push into the evolving landscape of digital payment intelligence.