Protean eGov Technologies Limited, previously known as NSDL e-Governance Infrastructure Limited, has recently secured a work order worth approximately INR 161 Crores from CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India). This work order, announced on December 2, 2024, marks a significant milestone for the company in the area of digital KYC infrastructure in India. Under this contract, Protean will serve as the System Integrator for the design, development, implementation, and operations & maintenance of the Central KYC Records Registry (CKYCRR 2.0).

This contract is a pivotal development in India's evolving digital infrastructure, which aims to streamline the Know Your Customer (KYC) process for various sectors, including banking and financial services. The Central KYC Records Registry is a critical component in managing and centralizing KYC data for individuals and entities, ensuring quicker and more secure processing of customer information across financial institutions.

The project duration is set to last for 69 months from the date of the contract's execution, making it a long-term initiative for Protean eGov Technologies. This project will contribute significantly to digital governance and the enhancement of the country's KYC system. The involvement of CERSAI, a government entity under the Ministry of Finance, further underscores the project’s national importance in improving India's financial infrastructure.

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The work order not only brings a substantial revenue opportunity for Protean but also positions the company at the forefront of digital transformation initiatives backed by the Government of India. The project will focus on creating and maintaining an updated and comprehensive registry, which is expected to streamline processes, improve customer identification systems, and provide a more efficient platform for KYC management.

This deal also highlights the ongoing trend of public-private collaborations in advancing digital solutions. Given the importance of secure KYC processes in combating fraud and enhancing trust in digital services, this work order represents a significant achievement for Protean eGov Technologies in the growing Indian fintech ecosystem.

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Protean’s success in securing this contract is also a testament to the company's expertise in system integration and technological advancements in KYC processes. By implementing CKYCRR 2.0, Protean aims to provide a robust and scalable solution to support India’s expanding digital economy.

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