RBI unveils framework for retail payments entity

News: Reserve Bank of India(RBI) has released a ‘Framework for Authorisation of Pan-India Umbrella Entity for Retail Payments’. Facts: In February 2020, RBI had proposed to create an alternative umbrella organisation for retail payments to prevent the monopoly of National Payment Corporation of India(NPCI). About the Framework: New umbrella entity(NUE): It shall be a company… Continue reading RBI unveils framework for retail payments entity