Nucleus Software | Business Upturn

Nucleus Software faces Rs 28.33 lakh tax demand for AY 2023-24

Arunika Jain — Wed, 06 May 2026 09:25:20 +0000

Nucleus Software Exports has been issued a tax demand of ₹28,33,460 for the Assessment Year 2023-24 by the Income Tax Department, Delhi. The demand arises from adjustments made to the transfer pricing margins concerning certain intercompany transactions.

The order, passed by the assessing officer, also includes the initiation of penalty proceedings. Nucleus Software has stated that it believes the order is not maintainable and is in the process of appealing against it. The company has assured that this order will not materially impact its financials, operations, or other activities.

The company received the order on 6 May 2026. It is currently reviewing the order and plans to respond appropriately, including filing an appeal and addressing the penalty proceedings.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Nucleus Software faces Rs 46,382 interest demand due to late TDS deduction

Arunika Jain — Mon, 30 Mar 2026 12:01:50 +0000

Nucleus Software Exports has been issued an order by the Income Tax Department, Delhi, imposing an interest demand of ₹46,382. This demand arises from the late deduction of Tax Deducted at Source (TDS) for the assessment year 2020-21.

The order was received by the company on 30 March 2026, as detailed in the regulatory filing submitted to the National Stock Exchange of India (NSE). The interest demand was raised by the assessing officer, highlighting the company’s delay in TDS deduction on certain transactions.

Despite the issuance of this order, Nucleus Software Exports has confirmed that the financials, operations, and other activities of the company remain unaffected. The company emphasised that the order has no material impact on its business activities.

This update was communicated in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is part of the company’s ongoing compliance with disclosure norms.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Nucleus Software celebrates 30 years on BSE with AI-led global growth strategy

Business Desk — Fri, 27 Mar 2026 10:20:45 +0000

Nucleus Software, a prominent player in digital lending and transaction banking solutions, has celebrated its 30th anniversary of being listed on the Bombay Stock Exchange (BSE). This milestone underscores three decades of robust governance, disciplined execution, and consistent value creation.

Having been listed in 1995, Nucleus Software has expanded its global footprint, serving over 200 financial institutions across more than 50 countries. The company has enabled banks to transform their lending and transaction banking operations through scalable and future-ready platforms.

The anniversary was marked at the BSE Convention Hall, attended by company leadership, customers, and partners. Over the years, Nucleus Software has anchored its growth in customer-centricity and domain-led innovation. Its flagship platforms, FinnOne Neo® and FinnAxia®, are designed to help financial institutions deliver faster, more intelligent, and inclusive financial experiences.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, remarked, “Thirty years as a listed company reflects our commitment to governance, discipline, and long-term value creation. At the core of this journey has been a deep focus on our customers—understanding their evolving needs and building solutions that create measurable impact. As we look ahead, we remain committed to enabling financial institutions through AI-led innovation and scalable platforms.”

Parag Bhise, CEO and Executive Director, added, “Our evolution has been guided by consistent execution and a clear strategic focus on customer outcomes. Today, as banks accelerate digital transformation, we are partnering with them to build intelligent, resilient, and future-ready ecosystems powered by AI and platform innovation.”

Looking forward, Nucleus Software is concentrating on scaling AI-led capabilities across lending and transaction banking, expanding its global market presence, strengthening cloud-ready, API-driven architectures, and delivering deeper customer and ecosystem impact.

With a strong foundation built over three decades, Nucleus Software continues to drive innovation, strengthen customer outcomes, and deliver long-term value globally.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Nucleus Software appoints Yasmin Javeri Krishan as chairperson, effective March 19, 2026

Business Desk — Mon, 16 Mar 2026 14:05:19 +0000

Nucleus Software has announced the appointment of Mrs. Yasmin Javeri Krishan as the new Chairperson of its Board of Directors, with her tenure beginning on March 19, 2026. Mrs. Krishan has been a Non-Executive, Independent Director since July 2020 and has played a significant role in governance at the company’s Singapore subsidiary since 2016.

Mrs. Krishan is a Chartered Accountant and holds an MBA from the Stern School of Business, New York University. Her career includes leadership roles at Price Waterhouse, American Express, and Citibank, among others. Her extensive international experience spans India, the US, Korea, Saudi Arabia, and Singapore, providing her with a broad perspective and strong analytical skills.

Her appointment is notable in the context of corporate governance in India, where only 6% of listed companies have a woman as Chairperson. This highlights Nucleus Software‘s commitment to independent oversight and merit-driven leadership.

Nucleus Software is committed to Lean thinking and Hoshin Kanri principles, focusing on strategic clarity and accountability. Mrs. Krishan’s appointment aligns with these values, reinforcing the company’s governance model.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, emphasised the importance of principles in governance and the strategic role of leadership diversity. Mrs. Krishan expressed her commitment to responsible oversight and sustainable growth.

Nucleus Software continues to expand its AI-powered platforms globally, focusing on governance excellence and strategic discipline.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Nucleus Software appoints Yasmin Javeri Krishan as new chairperson

Business Desk — Mon, 16 Mar 2026 10:04:47 +0000

Nucleus Software Exports has announced significant changes in its board leadership and committee structures following a board meeting on March 16, 2026. The company has appointed Mrs. Yasmin Javeri Krishan as the new Chairperson of the Board, effective March 19, 2026.

Mr. Siddhartha Mahavir Acharya, the current Independent Director and Chairperson, will retire on March 18, 2026, after completing his second term of five consecutive years. His retirement marks the end of a notable tenure under the provisions of Section 149 of the Companies Act 2013.

In addition to the leadership transition, the board has approved the formation of a new Culture Committee, effective March 19, 2026. This committee is intended to enhance and promote the organisation’s culture and values. The Culture Committee will be chaired by Mrs. Yasmin Javeri Krishan and includes members such as Mr. Vishnu R Dusad and Mr. Parag Bhise, among others.

The board has also reconstituted several of its existing committees. Notably, the Audit Committee will now include Mrs. Yasmin Javeri Krishan, while the Nomination and Remuneration/Compensation Committee will continue under the chairmanship of Mr. Shekar Viswanathan. Other committees such as the Corporate Social Responsibility Committee, Risk Management Committee, and Stakeholder Relationship Committee have also seen adjustments in their compositions.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Business Desk and reviewed by Aman Shukla before publication.

Nucleus Software implements FinnOne Neo® for debt management at Vietnam’s MB Bank

Aman Shukla — Tue, 16 Dec 2025 04:05:24 +0000

Nucleus Software, a global provider of digital transformation and transaction banking solutions, has announced the successful implementation of its flagship lending platform, FinnOne Neo®, at Military Joint Stock Commercial Bank (MB Bank) in Vietnam. The project was executed in collaboration with the FPT Information System Corporation Consortium, strengthening MB Bank’s technology-driven transformation journey.

MB Bank, ranked among Vietnam’s top five commercial banks, has deployed FinnOne Neo® specifically for debt management and collection operations. The implementation introduces a unified and centralized collection platform designed to streamline internal workflows, enhance operational efficiency, and improve overall debt recovery performance.

The FinnOne Neo® Collection platform enables MB Bank to manage the entire debt lifecycle through a single system, reducing process fragmentation and improving coordination across teams. Its modular architecture supports automation across key collection and recovery portfolios, allowing the bank to optimize resources while maintaining consistency in customer engagement throughout the debt management process.

This deployment aligns with MB Bank’s broader strategy of accelerating digital adoption across its retail and SME banking segments. The bank continues to focus on optimizing cost efficiencies while driving future-ready innovations that support scalability and long-term growth. By leveraging advanced digital platforms such as FinnOne Neo®, MB Bank is expanding its digital footprint across Vietnam and strengthening its ability to deliver efficient, technology-led banking services.

Nucleus Software implements FinnOne Neo at Tamilnad Mercantile Bank

Aman Shukla — Mon, 01 Dec 2025 06:23:54 +0000

Nucleus Software has announced the successful go-live of its flagship digital lending platform, FinnOne Neo®, at Tamilnad Mercantile Bank (TMB). For a bank with a rich legacy of over 100 years, this rollout marks a decisive step forward in its long-term digital transformation journey. The implementation positions TMB to deliver a smarter, faster, and more transparent lending experience across its retail, MSME, and corporate portfolios.

With FinnOne Neo® now fully deployed, TMB moves toward a unified digital lending ecosystem that allows loan journeys—right from onboarding to disbursal—to become significantly quicker and more seamless. The system brings greater visibility across credit workflows, enhances governance through rule-based automation, and introduces stronger audit-ready controls. This modern infrastructure also strengthens TMB’s risk oversight, helping the bank make sharper, more consistent credit decisions while maintaining portfolio quality.

The new platform gives TMB the agility to launch lending products faster, scale operations efficiently, and respond swiftly to evolving market conditions. More importantly, it supports the bank’s mission of deepening financial inclusion by offering customers a more reliable, convenient, and intelligent borrowing experience.

The collaboration between Nucleus Software and TMB combines the bank’s century-old banking expertise with the technology firm’s global leadership in digital credit transformation. The successful go-live showcases the strength of this partnership, which is rooted in a shared vision of modernizing credit delivery for the next decade.

As India’s BFSI landscape rapidly adopts AI-driven, real-time, and customer-centric lending models, this deployment places TMB at the forefront of transformation. With FinnOne Neo® powering its backend, the bank is now better equipped to build future-ready credit products, enhance risk management frameworks, and deliver superior digital experiences at scale.

Nucleus Software partners with Deem Finance to enhance digital collections

Aman Shukla — Tue, 15 Apr 2025 04:44:01 +0000

Nucleus Software, a global leader in digital lending and transaction banking solutions, has announced the expansion of its partnership with Deem Finance LLC, a prominent consumer finance provider in the UAE regulated by the UAE Central Bank. This collaboration is set to boost Deem’s digital collections transformation by integrating Nucleus Software’s FinnOne Neo® Collections platform. The decision underscores the shared commitment between the two companies to leverage cutting-edge technology to improve financial services.

The implementation of FinnOne Neo® Collections is aimed at enhancing operational efficiency by utilizing AI-driven analytics and automation tools. This strategic move will help Deem Finance streamline its collections process, ensuring more effective management of both consumer and corporate portfolios. In addition to automation, the solution integrates intelligent customer engagement and an auto-dialer system, which will facilitate smoother interactions with clients and improve overall collections performance.

The deployment of the platform is expected to strengthen Deem’s risk management efforts. By adopting the new technology, Deem Finance plans to better control delinquency rates and reduce non-performing assets (NPAs), an important step in maintaining financial stability. The system also aims to enhance the customer experience by delivering personalized, data-driven interactions, fostering improved relationships and timely payments.

Vishnu R. Dusad, Managing Director and Co-founder at Nucleus Software, emphasized that this partnership marks a significant step in their shared vision for driving digital transformation in the financial sector. He pointed out that implementing FinnOne Neo® Collections would not only streamline Deem’s operations but also contribute to the broader goal of equipping financial institutions with future-ready solutions. This collaboration further solidifies Nucleus Software’s presence in the UAE market and demonstrates their ongoing commitment to delivering AI-driven, customer-centric innovations.

As part of the ongoing collaboration, Nucleus Software continues to provide Deem Finance with solutions that support business growth while enhancing operational efficiency. The partnership highlights the importance of digital tools in managing collections and further reinforces the role of AI and automation in shaping the future of financial services.

Through this strategic collaboration, both companies are set to benefit from the long-term advantages of a more efficient, automated, and customer-focused collections management system, paving the way for improved financial outcomes.

Bank Muscat launches Nucleus Software’s FinnOne Neo Collections to enhance customer experience

Aman Shukla — Tue, 03 Dec 2024 05:34:55 +0000

Nucleus Software has recently informed exchanges that Bank Muscat, Oman’s leading financial services provider, has successfully implemented FinnOne Neo® Collections, a cutting-edge digital lending product from the company. This major move marks a significant milestone in the bank’s ongoing digital transformation journey, which aims to enhance its collections operations and offer integrated banking solutions across Oman.

As a dominant player in corporate, personal, and Islamic banking, Bank Muscat is now set to revolutionize its collections strategy with this advanced solution. FinnOne Neo® Collections strengthens delinquency management, enabling real-time monitoring of loans and proactive detection of potential issues or Non-Performing Assets (NPAs). This allows for more effective resolution of overdue loans, enhancing customer relationships and promoting loyalty.

The successful transition from FinnOne™ Collections to FinnOne Neo® Collections further underscores the longstanding partnership between Bank Muscat and Nucleus Software, dating back to 2010. This new implementation automates collections processes, streamlining operations and reducing credit losses. With improved operational efficiency, Bank Muscat is better equipped to manage its collections, contributing to enhanced profitability and long-term success.

By adopting FinnOne Neo® Collections, Bank Muscat continues to solidify its commitment to providing innovative, customer-centric banking solutions, driving forward its mission to lead Oman’s financial sector in digital transformation.

Nucleus Software announces ₹72.4 crore share buyback at 20% premium

Aditya Bhagchandani — Thu, 05 Sep 2024 16:37:46 +0000

Nucleus Software has revealed plans for a ₹72.35 crore share buyback program, aiming to repurchase nearly 4.5 lakh equity shares, which amounts to 1.7% of its total equity capital. The buyback price is set at ₹1,615 per share, representing a 20% premium over the most recent closing price of ₹1,347.05.

The buyback will be carried out through a “tender offer” process, following SEBI Buyback Regulations. This move will utilize 9.90% of the company’s total paid-up equity capital and free reserves, based on audited financials from March 31, 2024.

This is Nucleus Software’s third buyback, with previous programs conducted in 2017 and 2021, the last one priced at ₹700 per share. The uptick in buybacks by over 17 companies since July 23 is attributed to new tax regulations introduced in Budget 2024.

Despite a 1.5% drop in the stock price on Thursday, closing at ₹1,347.05, the stock has seen a 37.37% increase over the past year, with a 52-week high of ₹1,822.95.

Nucleus Software shares fall 5% as buyback fails to meet street expectations

Aditya Bhagchandani — Thu, 22 Aug 2024 07:20:43 +0000

Shares of Nucleus Software fell over 5% after company announced a share buyback worth up to ₹72.4 crore, which failed to meet the market expectations.

Nucleus Software Ltd. has announced a share buyback worth up to ₹72.4 crore. The company plans to repurchase up to 4.48 lakh equity shares, representing 1.67% of its total equity.

The buyback price is set at ₹1,615 per share, reflecting a 6% premium over the current market price.

Nucleus Software’s shares have fallen by over 5%. This buyback will be the company’s third since 2017, with the previous buybacks occurring in 2017 and 2021. In the last buyback in 2021, shares were repurchased at ₹700 per share.

Nucleus Software has set September 3, 2024, as the record date for its share buyback. The company has not yet provided a specific timeline for the buyback process.

The buyback will be conducted through a “tender offer,” where the company will repurchase shares at a predetermined price.

For the June quarter, Nucleus Software reported consolidated revenue of ₹195.4 crore, down from ₹206.8 crore in Q1 FY24. The company’s profit after tax (PAT) also fell to ₹30.2 crore, compared to ₹53.6 crore in the same period last year.

Additionally, the EBITDA margin contracted sharply to 14.8% in Q1 FY25, compared to 27.7% in the year-ago period. Earnings per share (EPS) for the quarter was ₹11.28, down from ₹20 a year ago.

The order book stands at ₹813.4 crore, which includes ₹752.2 crore from product business and ₹61.2 crore from project and services business.

Nucleus Software shares surge over 5% for second day after company announces buyback plans

Markets Desk — Wed, 21 Aug 2024 04:55:51 +0000

Nucleus Software shares today surged another 5% in the morning trade after it surged 15% yesterday, August 20 after the company unveiled plans for a buyback. As of 10:21 AM today, Nucleus Software’s stock is showing significant activity in the market. The stock opened at ₹1,550.05, already demonstrating a notable increase from the previous close of ₹1,410.05.

Nucleus Software Exports will hold a board meeting on August 22, 2024, to consider and approve a buyback proposal for equity shares. The decision will be in line with the Companies Act, 2013, and relevant regulations by the Securities and Exchange Board of India (SEBI).

This will the third buyback by Nucleus Software after the buybacks done in 2017 and 2021. The company did a buyback of 22.67 lakh shares at a price of Rs 700 per share in 2021.

Over 500 engineers to be hired by Nuclear Software by year end

Vaibhav Agrawal — Thu, 08 Jul 2021 05:09:46 +0000

By the end of the year, over 500 engineers are being planned to be hired by Nucleus Software that provides lending and transaction banking solutions, as per a report released by The Economic Times. According to a statement, till December 2021, 500 fresh young engineers coming from non-metro cities and towns across India shall be target by Nucleus for hiring.

The statement further added that not only through direct hiring but also through tie-ups with engineering colleges across Uttarakhand, Punjab, Haryana Karnataka, Tamil Nadu, Himachal Pradesh and Rajasthan, this shall be undertaken.

Every year around 2,000 people and nearly 200 to 250 campus hires are absorbed by Nucleus Software. Along with another 20 colleges being onboarded this year, with educational Institutes, the company has more than 50 partnerships in place. To make these young graduates industry-ready, on cutting edge technology for the global financial sector, they shall be trained in an intensive 6 to a 12-week program conducted by the Nucleus School of Banking Technology, the statement added.

Supporting corporate banking, retail lending, cash management along with mobile and Internet banking, automotive finance and other business areas, the operations of more than 200 financial institutions in over 50 countries is being powered by Nucleus Software and more than 26 million daily transactions are being facilitated by its products.

As mentioned by Vishnu Dusad, the managing director of Nucleus Software, since most corporates do not hire from smaller colleges, although engineering graduates from smaller towns and cities have a lot to offer their potential is usually left untapped.