Protean eGov Technologies

Protean eGov Technologies Limited (previously NSDL e-Governance Infrastructure Limited) is an Indian technology company headquartered in Mumbai, India. It specializes in developing digital public infrastructure (DPI) and e-governance solutions on a large scale for various governmental bodies in India. 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), ID and Data Stack, Open Digital Ecosystem, and Cloud. 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.

National Securities Depository Limited (NSDL)
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). 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.

In 2004, the company launched initiatives such as the Tax Information Network (TIN), Pan Card Issuance, and Online Tax Accounting System (OLTAS). 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. The company also manages the Tax Information Network (TIN) for the Income Tax Department, Government of India. 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.

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. 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.

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

Formation of NSDL e-Governance Infrastructure Ltd.
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. This subsidiary was later rebranded as Protean eGov Technologies Limited. 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.

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

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

Rebranding to Protean eGov Technologies Limited
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). The company also launched a multi-sector marketplace for APIs, microservices, and more called Rise with Protean. 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.

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

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.

Initiatives
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. 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.

2024

 * Golden Peacock Award 2024 for ONDC
 * Digital Responsibility Award in the category of 'E-Commerce Fairness by Internet and Mobile Association of India (IAMAI)
 * Aegis Graham Bell Awards (AGBA) 2024

2022

 * Golden Peacock Award
 * Aegis Graham Bell Awards

2018

 * Golden Peacock Award for Innovation Management