What NICT Technologies Pvt. Ltd does

NICT Technologies Pvt. Ltd., incorporated on 29 April 2003 in Indore, Madhya Pradesh, operates as a Corporate Business Correspondent (BC) for India's nationalized banks, deploying and managing a network of 16,440+ banking kiosks (CSP/Bank Mitras) across 25 states through 14 regional offices and 4 area offices. The company's core business is last-mile financial inclusion — operating PMJDY account openings, deposits, withdrawals, fund transfers, and social security scheme enrollments (PMSBY, PMJJBY, APY) on behalf of State Bank of India, Bank of India, Bank of Baroda, Punjab National Bank, Union Bank of India, Bank of Maharashtra, and five Regional Rural Banks. The platform combines a human-assisted kiosk distribution model with proprietary mobile applications (NICT Bills and Services / SewaDoot) and supporting infrastructure for ABHA card creation, UIDAI Aadhaar enrollment (where NICT claims the lowest 0.58% error rate in India across 2.49 million citizens served), RFID FASTag issuance (534,887 tags affixed since 2016), E-Mitra e-governance services (1,400 kiosks in Rajasthan serving 150,000+ citizens), and IT staffing (132 experts deployed via CRISP).

The company monetizes primarily through transaction-based commissions and per-enrollment fees set by partner banks and government agencies. Revenue streams are diversified across multiple government and bank contracts — Banking Correspondent commissions, FASTag issuance commissions, UIDAI Aadhaar fees, ABHA card fees, E-Mitra project fees, and IT professional services — but all are anchored in long-term BC and empanelment agreements. NICT reports a customer base of 3.5 Crore+ across its services, 631 employees, ISO 9001:2015, ISO/IEC 27001:2022, and ISO 20000-1:2018 certifications, a CRISIL SME1 credit rating, and a track record of WSIS Project Prizes (UN/ITU, 2012 and 2013) plus multiple 1st-position performance awards from SBI, BoI, and BoB spanning 2016 to 2026. The company is privately held, founder-controlled (Mukesh Hajela, Jitendra Choudhary, Mahendra Gupta), with no disclosed external funding.

Name

NICT Technologies Pvt. Ltd

Legal name

NICT Technologies Private Limited

Website

https://nicttpl.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

NICT Technologies Pvt. Ltd. is an Indore-based Business Correspondent operating 16,440+ banking kiosks across 25 Indian states as a financial-inclusion partner for six nationalized banks and five regional rural banks, serving 3.5 Crore+ customers with banking, Aadhaar, FASTag, ABHA, and e-governance services.

Ownership category

akta.pro rank

Headquarters

HQ city

Indore

HQ country

India

HQ region

Asia

Offices23 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Banking Correspondent / Kiosk Banking Services: NICT earns commission and transaction fees as a Corporate Business Correspondent (BC) for nationalized banks (SBI, Bank of India, Bank of Baroda, PNB, Union Bank of India, Bank of Maharashtra) and Regional Rural Banks. Revenue is generated through transactions processed at kiosks — account openings (PMJDY), deposits, withdrawals, fund transfers, and social security scheme enrollments (PMSBY, PMJJBY, APY). Each kiosk is operated by a CSP/Bank Mitra who earns a share of transaction revenue, while NICT retains a margin as the BC operator.
2. FASTag RFID Tag Sales & Services: NICT issues and markets RFID FASTags on behalf of State Bank of India PAN India, earning commission per tag sold and affixed, plus recharge commissions. Handles KYC verification, tag affixing, cyclic activities, cash management, and settlement with banks.
3. UIDAI Aadhaar Enrollment Services: Revenue generated through Aadhaar enrollment and update operations handled by UIDAI-certified operators and supervisors deployed at government department premises (via Shreetron India Limited) and bank branches (via SBI). Fees per enrollment/update transaction.
4. ABHA (Ayushman Bharat Health Account) Card Services: NICT is authorized by the National Health Authority to create ABHA cards for citizens through its SewaDoot app. Revenue is derived per ABHA card created and downloaded. The Indore Mayor inaugurated the first ABHA center at Indore.
5. E-Governance / Common Service Centre Services: NICT operates CSC kiosks providing e-Governance services to citizens — including utility bill payments, government service applications, and certificate issuances — under government schemes such as E-Mitra (Rajasthan, 1,400 kiosks serving 150,000+ citizens) and Common Service Centre Project under NeGP. Revenue is generated per transaction and through government project implementation fees.
6. IT Staffing / Professional Services: NICT provides IT experts to CRISP (Centre of Research and Industrial Staff Performance, Bhopal) for government IT projects — including application development, database administration, GIS mapping, and training. Currently providing 132 IT Experts. This is a professional services / managed services revenue stream.
7. Skill Development & Training: NICT provides IT education in government schools and skill development training under NCVET framework. Revenue generated through government skill development contracts and training fees.

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

NICT Technologies Pvt. Ltd. operates as a Corporate Business Correspondent for multiple nationalized banks and Regional Rural Banks in India, deploying a network of 16,440+ banking kiosks (CSP/Bank Mitras) across 25 states. The company delivers micro-banking, Aadhaar enrollment, ABHA health card creation, FASTag issuance, e-governance, and IT staffing services through this assisted kiosk-based service delivery model managed by 14 regional offices and 4 area offices.

Product overview

NICT Technologies Pvt. Ltd. operates as a service provider organization offering a portfolio of citizen-facing services through a kiosk-based distribution model. The company's offerings include: NICT Bill (Bills and Services) and SewaDoot mobile applications for bill payments and government services; Kiosk Banking Services for financial inclusion as a Corporate Business Correspondent for multiple nationalized banks; E-Mitra e-governance services; FASTAG RFID tag issuance; UIDAI Aadhaar services; ABHA health account services under Ayushman Bharat Digital Mission; and Drone agricultural technology services. The company maintains a network of 16,440+ kiosk operators across 14 regional offices serving 25 states in India.

Differentiator

Problem solved

Functional benefit

Brands

• NICT Bills and Services: Mobile application for bill payments and services
• NICT Arogyam

Products and services

• Kiosk Banking Services Micro banking and financial inclusion services delivered through 16,440+ Pradhan Mantri Jan Dhan Yojana kiosks across India as Corporate Business Correspondent for SBI, Bank of India, Bank of Baroda, Punjab National Bank, Union Bank of India, Bank of Maharashtra, and multiple Regional Rural Banks. The service includes PMJDY account openings, deposits, withdrawals, fund transfers, and social security scheme enrollments (PMSBY, PMJJBY, APY) for unbanked rural populations.
• E-Mitra E-Governance Services Digitized government service delivery through kiosk model in partnership with the Rajasthan Government. Operates 1,400 E-Mitra kiosks serving 150,000+ citizens across the state, providing utility bill payments, government service applications, and certificate issuances.
• FASTag RFID Services RFID FASTag issuance, affixing, recharge, and settlement services on behalf of State Bank of India. NICT has 689 agents across India and has successfully affixed 534,887 FASTags on vehicles, including KYC verification and cash management.
• UIDAI Aadhaar Services End-to-end Aadhaar enrollment, update, and e-Aadhaar print-out services through UIDAI-certified operators. Delivered via SBI bank branches (309 agents, 8 states, 2,488,927 citizens benefited with lowest 0.58% error rate in India) and Shreetron India Limited for UP government (Lucknow, Pilibhit, Fatehpur districts).
• ABHA Card Services Creation and downloading of ABHA (Ayushman Bharat Health Account) cards authorized by National Health Authority under Ayushman Bharat Digital Health Mission. Enables citizens to generate a 14-digit health ID using Aadhaar or mobile number through the SewaDoot mobile app, supporting digital health records access and sharing.
• Drone Agricultural Services Agricultural drone services including fertilizer spray and technology demonstrations at agricultural institutions, with farmer training provided by NICT drone trainers as part of the company's ICT4D portfolio.
• Credit Business Services Business associate services for State Bank of India undertaking agri advances related activities, supporting agricultural lending through NICT's kiosk network.
• IT Human Resource Services (CRISP) IT expert staffing services for government IT projects under CRISP (Centre of Research and Industrial Staff Performance, Bhopal). NICT currently provides 132 IT Experts covering application development, database administration, GIS mapping, mobile app development, QA, and training following CMMi level 3 processes.
• NICT Bill (Bills and Services) Mobile App Android mobile application available on Google Play Store for bill payments and various citizen services, providing self-service access to utility bill payments and government service-related transactions.
• NICT ArogyaM Health-related service brand under the NICT group offering healthcare access and wellness services to citizens, complementing ABHA health identity services.

Quantifiable outcome

• 3.5 Crore+ citizens served across banking, e-governance, IT education, skill development, financial services, insurance, UID, and utility services
• +5 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

17 partnerships are on record, tiered core and minor.

• State Bank of India (SBI)coreChannel Partner/ Reseller/ DistributorSBI is NICT's oldest and largest bank partner. NICT has been SBI's Business Correspondent since 2009 and became their National Business Correspondent in December 2013. NICT operates 6,560 kiosks for SBI PAN India, handling PMJDY accounts, deposits, withdrawals, and social security scheme enrollments. Additionally, NICT provides UIDAI Aadhaar services (benefiting 2,488,927 citizens with 0.58% error rate — lowest in India) and RFID FASTag issuance (534,887 tags affixed) for SBI.
• Bank of India (BoI)coreChannel Partner/ Reseller/ DistributorNICT has been Bank of India's National Business Correspondent since 2013, operating 1,881 kiosks PAN India. NICT received the WSIS 2013 Award for Project Shaksham (Distribution of Old Age Pension) in partnership with BoI's zonal office. Multiple 1st position awards in Social Security Schemes (2023-24, 2024-25, 2025-26).
• Bank of Baroda (BoB)coreChannel Partner/ Reseller/ DistributorNICT has been Bank of Baroda's National Business Correspondent since 2016, operating 3,363 kiosks PAN India. NICT won multiple awards in 2021-22 including 1st position in 'Overall Performance under Financial Inclusion' and 'Per BC Average Payout'. Also recognized in 2022-23 and 2024-25. ICT Excellence Award 2016 was won in collaboration with Narmada Jhabua Gramin Bank for financial inclusion in MP and Chhattisgarh.
• Punjab National Bank (PNB)minorChannel Partner/ Reseller/ DistributorNICT has been PNB's National Business Correspondent since 2021, operating 80 kiosks PAN India.
• Union Bank of India (UBIN)minorChannel Partner/ Reseller/ DistributorNICT has been Union Bank of India's National Business Correspondent since 2022, operating 340 kiosks PAN India.
• Bank of Maharashtra (BoM)minorChannel Partner/ Reseller/ DistributorNICT operates as Business Correspondent for Bank of Maharashtra with 432 kiosks PAN India.
• Chhattisgarh Rajya Gramin BankcoreChannel Partner/ Reseller/ DistributorNICT has been Business Correspondent for Chhattisgarh Rajya Gramin Bank since 2014, operating 1,034 kiosks in Chhattisgarh state.
• Madhya Pradesh Gramin BankcoreChannel Partner/ Reseller/ DistributorNICT has been Business Correspondent for Madhya Pradesh Gramin Bank since 2013, operating 797 kiosks (now 1,130 following merger with Madhyanchal Gramin Bank from May 2025).
• Uttar Pradesh Gramin BankminorChannel Partner/ Reseller/ DistributorNICT works with PUPGB since 2023 and Baroda UP Bank since 2015; following merger of both banks into Uttar Pradesh Gramin Bank, 284 kiosks now operate under this bank.
• Gujarat Gramin BankminorChannel Partner/ Reseller/ DistributorNICT works with BGGB since 2014 and SGB since 2017; following merger into Gujarat Gramin Bank, 309 kiosks now operate under this bank. BGGB awarded NICT 1st position under PMSBY Enrollment in 2022.
• IDBI BankminorChannel Partner/ Reseller/ DistributorIDBI Bank has allocated 125 locations in Nagpur region (Bhandara: 7 CSPs, Gondia: 11 CSPs, Nagpur: 32 CSPs) under BC Model. Under Sameep Model, 11 outlets opened across MP (6), UP (3), and Maharashtra (2).
• UIDAI (Unique Identification Authority of India)coreStrategic or Co-development PartnerNICT provides end-to-end Aadhaar enrollment, update, and e-Aadhaar print services through UIDAI-certified operators and supervisors. Associated with SBI (since 2017, 309 agents, 8 states, 2.49 million citizens, lowest 0.58% error rate in India) and Shreetron India Limited for UP government (Lucknow, Pilibhit, Fatehpur districts).
• National Health Authority (NHA) / Ayushman Bharat Digital Health MissioncoreStrategic or Co-development PartnerNICT is authorized by NHA under Ayushman Bharat Digital Health Mission to create and download ABHA (Ayushman Bharat Health Account) cards of Indian citizens through its SewaDoot/NICT Bills and Services mobile app. Indore Mayor inaugurated the first ABHA center at Indore.
• Rajasthan Government (E-Mitra)coreStrategic or Co-development PartnerNICT partnered with Rajasthan Government to digitize and deliver government services to citizens through 1,400 E-Mitra kiosks, serving 150,000+ citizens across the state.
• Shreetron India Limited (Dept. of IT & Electronics, Govt. of UP)minorStrategic or Co-development PartnerNICT has been selected and empaneled with Shreetron India Limited (Dept. of IT & Electronics, Govt. of UP) for providing Aadhaar kits, UIDAI-certified operators and supervisors to operate Aadhaar Enrollment Centers at government department premises in Lucknow, Pilibhit, and Fatehpur districts of Uttar Pradesh.
• CRISP (Centre of Research and Industrial Staff Performance), BhopalminorStrategic or Co-development PartnerNICT is selected by CRISP (autonomous society under Dept. of Technical Education, Govt. of M.P.) for providing IT Experts for government IT projects. NICT currently provides 132 IT Experts for on/offsite work covering application development, database administration, GIS mapping, mobile app development, QA, training, and system audits. Projects follow CMMi level 3 processes and GOI guidelines.
• CRISILminorOthersNICT Society (Network for Information and Computer Technology) has been awarded SE2C Credit Rating by CRISIL, indicating moderate financial strength and stable outlook.

Scale indicators13 records

Recent moves11 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nict-technologies

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about NICT Technologies Pvt. Ltd