MUMBAI: National Payments Corporation of India (NPCI) today said it has broadened its shareholding base to 56 banks from 10 earlier.The 46 new entities comprising 13 public, 15 private, 1 foreign, 10 multistate co-operative banks and 7 RRBs have now joined the shareholding base, NPCI said in a statement.The addition of new banks has increased NPCI's paid up capital to Rs 133 crore from Rs 100 crore, its MD and CEO A P Hota said. "Being the payments system utility for all the banks in the country, it was a natural progression and was also a requirement from the Reserve Bank. "There is a scope for further broad-basing of shareholders as state-run banks still holds 57 per cent. We may increase the base later but as of now there is no need," he added.Hota said small finance banks and payment banks will be added to NPCI's shareholders base later. "We may look at them whenever they start their operations," he said.

Source: Economic Times September 12, 2016 11:26 UTC