Network People Services Technologies Limited has secured a strategic mandate from a large cooperative bank to deploy its flagship UPI Switch infrastructure, marking a significant milestone in the company's Bank-in-a-Box platform expansion. The announcement was made through a press release dated March 16, 2026, and formally communicated to stock exchanges on March 17, 2026.

Strategic Mandate Details

This engagement represents NPST's first order under its Bank-in-a-Box offering within the UPI solutions suite. The platform is delivered through a plug-and-play model that enables banks to rapidly deploy scalable, enterprise-grade payment infrastructure without large upfront investments, while allowing NPST to generate recurring multi-year SaaS-based revenue.

Market Impact and Benefits

Through this deployment, the cooperative bank will be equipped to enter the UPI merchant acquiring ecosystem. This capability will enable the bank to expand digital payment acceptance across its merchant network while unlocking new revenue streams and strengthening digital engagement with its member communities.

"Cooperative banks are a critical pillar of India's community banking ecosystem, and their participation is essential to deepening digital payment acceptance at the grassroots level," said Deepak Chand Thakur, Co-Founder and CEO, NPST. He added that NPST's Bank-in-a-Box platform removes the technology barriers that have historically limited cooperative banks' participation in the digital payments ecosystem.

Bank-in-a-Box Platform Features

Launched last year, NPST Bank-in-a-Box is a ready-to-deploy digital banking platform designed to help small, mid-sized, and cooperative banks accelerate digital transformation. The comprehensive platform includes:

• Digital payments processing with merchant acquiring capabilities
• Offline channels support (QR, Soundbox)
• Online channels integration (Pay-in, Payout, and Interoperable Autopay)
• AI-powered fraud monitoring capabilities for merchant risk management
• Omnichannel Banking SuperApp offering 400+ services

Company Performance Metrics

NPST, incorporated in 2013 and listed on both NSE and BSE, operates as a Technology Service Provider (TSP) and Payment Platform as a Service Provider (PaaS). The company currently supports 100+ customers and processes 50+ million transactions daily, serving banks, fintechs, and other industry players across the financial value chain.

Network People Services Technologies Limited has successfully concluded its postal ballot process, with shareholders providing overwhelming approval for the amendment to the company's NPST ESOP 2023 policy. The special resolution was declared passed on March 16, 2026, following the completion of remote e-voting that ended on March 15, 2026.

Voting Results and Participation

The postal ballot witnessed strong shareholder participation across all categories. Out of 7,361 total shareholders on the record date of February 06, 2026, a total of 25 shareholders participated in the voting process.

Category-wise Voting Breakdown

The voting results demonstrated strong support across all shareholder categories with detailed participation metrics:

The promoter and promoter group, represented by 2 shareholders, cast 8,793,137 votes entirely in favour. Public institutions showed the highest participation rate at 94.17%, while public non-institutions had minimal opposition with only 234 votes against the resolution.

Resolution Details and Process

The special resolution focused on approving the amendment of the "NPST ESOP 2023" Policy in accordance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulation, 2021. The voting process was conducted entirely through remote e-voting facility provided by National Securities Depository Limited (NSDL).

Scrutinizer's Confirmation and Regulatory Compliance

Kala Agarwal, Practicing Company Secretary (Membership No. 5976), served as the appointed scrutinizer for the postal ballot process. In her report dated March 16, 2026, she confirmed that the voting process was conducted in compliance with Section 108 and 110 of the Companies Act, 2013, and related rules.

The scrutinizer verified that all votes were cast through the remote e-voting platform, with the system being disabled after the voting deadline. The votes were unblocked on March 16, 2026, in the presence of two independent witnesses, ensuring transparency in the process.

Company Secretary and Compliance Officer Chetna Chawla (Membership No: A64291) submitted the voting results and scrutinizer's report to both NSE and BSE on March 16, 2026, fulfilling all regulatory requirements under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results have also been made available on the company's website at www.npstx.com for stakeholder access.