Wikipedia

Protean eGov Technologies

(Redirected from Draft:Protean eGov Technologies)

Protean eGov Technologies Limited (previously NSDL e-Governance Infrastructure Limited) is an Indian technology company headquartered in Mumbai, India.[1] It specializes in developing digital public infrastructure (DPI) and e-governance solutions on a large scale for various governmental bodies in India.[2] The company collaborates with central and state governments across multiple sectors including Tax Services (PAN, TIN, eTDS), Social Security and Welfare (CRA for NPS & APY),[3] ID and Data Stack, Open Digital Ecosystem, and Cloud.[4][5][6] In 2011, the company was appointed as a registrar for the Unique Identification Authority of India (UIDAI) to issue Aadhaar numbers to residents of the country.[7][8]

Protean eGov Technologies
FormerlyNSDL e-Governance Infrastructure Limited
Company typePublic
BSE: 544021
ISINISIN: INE004A01022
IndustryIT services & consulting, Fintech, RegTech, SaaS, eCommerce
Founded1996
HeadquartersLower Parel, Mumbai, India
Area served
Worldwide
Key people
Suresh Sethi (Managing Director & CEO)
Services
  • Digital Public Infrastructure (DPI)
  • e-Governance Solutions
  • Permanent Account Number (PAN)
  • National Pension Scheme (NPS)
  • Taxpayer Identification Number (TIN)
ParentNational Securities Depository Limited (former)
SubsidiariesProtean Account Aggregator Limited
Protean InfoSec Services Limited
WebsiteOfficial website

History

edit

National Securities Depository Limited (NSDL)

edit

Incorporated in 1996, the original company operated as a Central Securities Depository under the leadership of C. B. Bhave, who later served as Chairman of the Securities and Exchange Board of India (SEBI).[9] It was the country's first and largest depository and was involved in the development and implementation of major technology infrastructure projects within the country.[10]

In 2004, the company launched initiatives such as the Tax Information Network (TIN), Pan Card Issuance, and Online Tax Accounting System (OLTAS).[9] In 2005, it launched the Electronic Accounting System in Excise and Service Tax (EASIEST) and began managing it on behalf of the Central Board of Excise and Customs.[11] The company also manages the Tax Information Network (TIN) for the Income Tax Department, Government of India.[12] As part of this system, Protean facilitates the issuance of Permanent Account Number (PAN) cards and enables electronic submission of Tax Deducted at Source (TDS) returns, along with assisting banks in uploading tax payment data.[13][14]

In 2008, the company was appointed by the Pension Fund Regulatory and Development Authority (PFRDA) as the Central Recordkeeping Agency (CRA) for the National Pension System of the Government of India.[9][15] The company has developed and implemented 19 projects across seven ministries in India. These projects included modernizing the direct tax infrastructure through initiatives such as Permanent Account Number (PAN) issuance and the Tax Information Network and enabling a universal social security system for all Indians under the Atal Pension Yojana.[16]

In 2011, the Unique Identification Authority of India (UIDAI) appointed the company as a Registrar for the implementation of the UID mission in India,[17] and in 2013, the company launched e-KYC services.[16]

Formation of NSDL e-Governance Infrastructure Ltd.

edit

In 2013, National Securities Depository Limited (NSDL) restructured its operations, segregating its activities into two distinct businesses. The depository services continued under NSDL, while the e-Governance segment was vertically split and transferred to a new entity, initially known as NSDL e-Governance Infrastructure Limited.[18] This subsidiary was later rebranded as Protean eGov Technologies Limited.[19][20] The company is backed by the National Stock Exchange (NSE), Industrial Development Bank of India (IDBI), and Unit Trust of India (UTI), with shareholders including banks like Canara Bank, HSBC, Citicorp Finance India, Standard Chartered Bank, Mauritius-based fund Soach Global, State Bank of India, Union Bank of India, and Deutsche Bank AG.[21][22]

In 2015, the company developed the education loan portal Vidyalakshmi, which listed 34 banks and 86 loan schemes by 2018.[22]

The company also diversified into e-sign service[23] and was shortlisted as the GSP (GST Suvidha Provider) by GSTN (GST Network) in 2017.[24] In 2018, IDBI Bank sold its entire 30% stake to IIFL Wealth Management.[25] In 2020, it expanded its operations by establishing a wholly-owned subsidiary, Protean Account Aggregator Limited.[26]

Rebranding to Protean eGov Technologies Limited

edit

In 2021, the company rebranded itself to Protean eGov Technologies Limited and launched the subsidiary Protean InfoSec Services Limited. In 2023, Protean received approval from the Reserve Bank of India (RBI) to operate as an Account Aggregator (AA).[27] The company also launched a multi-sector marketplace for APIs, microservices, and more called Rise with Protean.[28] Additionally, 360 One WAM (formerly IIFL Wealth Management), which held a 5.3% stake in Protean, sold its stake on April 10 2024 through open-market transactions.[29]

Leadership

edit

Board members

edit
  • Shailesh Haribhakti
  • Abhaya Prasad Hota
  • Shailesh Kekre
  • Lloyd Mathias
  • Mukesh Agarwal
  • Preeti Mehta
  • Aruna Rao
  • Suresh Sethi
  • Jayesh Sule

CXOs

edit
  • Suresh Sethi (Managing Director & CEO)
  • Jayesh Sule (Whole Time Director & COO)
  • Bertram D’Souza (Chief Product & Innovation Officer)
  • Dattaram Mhadgut (Chief Technology Officer)
  • Dharmesh Parekh (Chief Information Officer)
  • Dipali Sheth (Chief Human Resources Officer & Impact Officer)
  • Gaurav Ramdev (Chief Marketing Officer)
  • Gopa Kumar T. N. (Chief Business Officer)
  • Hiten Mehta (Group Head - Business Operations)
  • Kapil Kapoor (Chief Risk & Compliance Officer)
  • Metesh Bhati (Chief Digital Officer)
  • Tejas Desai (Group Head - Internal Audit)

Partnerships

edit

Protean was a founding member in establishing ONDC under the Department for Promotion of Industry and Internal Trade (DPIIT)'s leadership.[30][31] In 2023, Protean announced a collaboration with Google Cloud to deploy DPI across public and private sectors.[32] Protean teamed up with NPCI Bharat BillPay (NBBL) to develop a decentralized settlement system for participants in digital commerce.[33]

In 2024, Protean signed an agreement with ArcelorMittal Nippon Steel India (AM/NS India) to support the 'Beti Padhao' scholarship initiative across multiple states in India. This initiative, started in March 2022 by AM/NS India, focuses on supporting underprivileged young women.[34]

Initiatives

edit

In its 2015 Budget speech, then Finance Minister Arun Jaitley announced that the government would create a single-window electronic platform for providing education loans under the Pradhan Mantri Vidya Lakshmi Karyakram. VidyaLakshmi is an online platform for students seeking education loans.[35] It was developed by Protean in 2015 under the guidance of the Department of Financial Services (Ministry of Finance), the Department of Higher Education (Ministry of Education), and the Indian Banks Association (IBA). By 2018, the platform had 34 banks and 86 loan schemes listed.[35]

Protean also launched another portal called Vidyasaarathi, which is an education scholarship initiative allowing underprivileged students to receive financial assistance through corporate-funded scholarships. Vidyasaarathi announced its partnership with TATA Housing. In 2018, the company reported 28,000 registered students and nine participating companies, including ACC, Care Ratings, SNL Bearings, and Education Consultants of India.[36]

Awards

edit

2024

edit

2022

edit
  • Golden Peacock Award[40]
  • Aegis Graham Bell Awards[41]

2018

edit
  • Golden Peacock Award for Innovation Management[42]

References

edit
  1. ^ Bhalerao, Mayur (13 November 2023). "Protean IPO up 12.5% on day one, post muted debut". Livemint.
  2. ^ Parmar, Beena (2023-09-28). "Protean eGov Technologies eyes Rs 1,300-crore listing by end of October". The Economic Times. ISSN 0013-0389. Retrieved 2024-07-19.
  3. ^ "Analyst report" (PDF).
  4. ^ "Protean unleashes a digital renaissance". businessindia.co. Retrieved 2024-07-19.
  5. ^ "Protean eGov Technologies IPO". Livemint.
  6. ^ Rukhaiyar, Ashish (2018-05-05). "'NSDL e-Gov's services dwarf those of depository'". The Hindu. ISSN 0971-751X. Retrieved 2024-07-19.
  7. ^ "NSDL demerges e-governance, Rao is new CEO". The Times of India. 2013-06-25. ISSN 0971-8257. Retrieved 2024-07-19.
  8. ^ "Protean eGov Technologies Ltd (analyst report)" (PDF).
  9. ^ a b c Rukhaiyar, Ashish (2018-05-05). "'NSDL e-Gov's services dwarf those of depository'". The Hindu. ISSN 0971-751X. Retrieved 2024-07-19.
  10. ^ "Controversies in the life & time of ex-chairman of Sebi CB Bhave". The Economic Times. 2011-11-14. ISSN 0013-0389. Retrieved 2024-07-19.
  11. ^ "NSDL demerges e-governance, Rao is new CEO". The Times of India. 2013-06-25. ISSN 0971-8257. Retrieved 2024-07-19.
  12. ^ Motiani, Preeti (2022-12-05). "You cannot use accounts with these banks to pay income tax on TIN NSDL website anymore". The Economic Times. ISSN 0013-0389. Retrieved 2024-07-19.
  13. ^ Narayanan, KS Badri (2023-11-07). "IPO screener: Protean eGov Technologies fully subscribed on Day 1". BusinessLine. Retrieved 2024-07-19.
  14. ^ "Analyst report" (PDF). SBI securities.
  15. ^ "NSDL e-Governance Infrastructure rebranded as Protean eGov Technologies". Techcircle. 2021-12-10. Retrieved 2024-07-19.
  16. ^ a b "Protean unleashes a digital renaissance". businessindia.co. Retrieved 2024-07-19.
  17. ^ "NSDL appointed as Registrar for UID".
  18. ^ Rukhaiyar, Ashish (2018-05-05). "'NSDL e-Gov's services dwarf those of depository'". The Hindu. ISSN 0971-751X. Retrieved 2024-07-19.
  19. ^ Bhalerao, Mayur (13 November 2023). "Protean IPO up 12.5% on day one, post muted debut". Livemint.
  20. ^ "NSDL e-Governance Infrastructure rebranded as Protean eGov Technologies". Techcircle. 2021-12-10. Retrieved 2024-07-19.
  21. ^ Parmar, Beena (2023-09-28). "Protean eGov Technologies eyes Rs 1,300-crore listing by end of October". The Economic Times. ISSN 0013-0389. Retrieved 2024-07-19.
  22. ^ a b Rukhaiyar, Ashish (2018-05-05). "'NSDL e-Gov's services dwarf those of depository'". The Hindu. ISSN 0971-751X. Retrieved 2024-07-19.
  23. ^ "NSDL ends Aadhaar e-sign services". The Times of India. 2019-12-14. ISSN 0971-8257. Retrieved 2024-07-19.
  24. ^ Variyar, Mugdha (2017-06-12). "With NSDL rates out in open, GSPs gear up for a price war". The Economic Times. ISSN 0013-0389. Retrieved 2024-07-19.
  25. ^ Parmar, Beena (2023-09-28). "Protean eGov Technologies eyes Rs 1,300-crore listing by end of October". The Economic Times. ISSN 0013-0389. Retrieved 2024-07-19.
  26. ^ "NSDL e-Governance gets RBI's approval for account aggregator business". Techcircle. 2021-11-18. Retrieved 2024-07-19.
  27. ^ "NSDL e-Governance gets RBI's approval for account aggregator business". Techcircle. 2021-11-18. Retrieved 2024-07-19.
  28. ^ "Protean launches marketplace for APIs and microservices". Techcircle. 2023-12-13. Retrieved 2024-07-19.
  29. ^ "360 One acquires ET Money for Rs 366 crore to enter wealth tech space". The Economic Times. 2024-06-13. ISSN 0013-0389. Retrieved 2024-07-19.
  30. ^ "Protean eGov and NPCI Bharat BillPay partner to offer decentralised settlement system on ONDC". The Times of India. 2023-06-29. ISSN 0971-8257. Retrieved 2024-07-19.
  31. ^ "Protean unleashes a digital renaissance". businessindia.co. Retrieved 2024-07-19.
  32. ^ "Protean joins forces with Google Cloud to develop DPI and Generative AI solutions". Financialexpress. 2023-08-23. Retrieved 2024-07-19.
  33. ^ "Protean eGov and NPCI Bharat BillPay partner to offer decentralised settlement system on ONDC". The Times of India. 2023-06-29. ISSN 0971-8257. Retrieved 2024-07-19.
  34. ^ "AM/NS, Protean continue 'beti padhao' scholarship pursuit - Construction Week India". Construction Week India. 2024-03-09. Retrieved 2024-07-19.
  35. ^ a b Rukhaiyar, Ashish (2018-05-05). "'NSDL e-Gov's services dwarf those of depository'". The Hindu. ISSN 0971-751X. Retrieved 2024-07-19.
  36. ^ Rukhaiyar, Ashish (2018-05-05). "'NSDL e-Gov's services dwarf those of depository'". The Hindu. ISSN 0971-751X. Retrieved 2024-07-15.
  37. ^ "Golden Peacock Innovative Product / Service Award (GPIPSA) - Winners". www.goldenpeacockaward.com. Retrieved 2024-07-19.
  38. ^ "Growing inclusion in India: The fintech way" (PDF).
  39. ^ "Finalists of 14th Aegis Graham Bell Awards, supported MeiTY". Aegis Graham Bell Awards. Retrieved 2024-07-19.
  40. ^ "Golden Peacock Business Excellence Award (GPBEA) - Winners". www.goldenpeacockaward.com. Retrieved 2024-07-19.
  41. ^ "13th edition". Aegis Graham Bell Awards. Retrieved 2024-07-19.
  42. ^ "Golden Peacock Business Excellence Award" (PDF).
edit
Retrieved from "https://en.wikipedia.org/w/index.php?title=Protean_eGov_Technologies&oldid=1236759056"