News:The Reserve Bank of India(RBI) has released a draft framework for authorisation of a pan-India New Umbrella Entity(NUE) for Retail Payment Systems. Facts: About New Umbrella Entity(NUE): The new pan-India new umbrella entity(NUE) or entities will focus on retail payment systems with a minimum paid-up capital of Rs 500 crore. They may be a ‘for-profit’… Continue reading New Umbrella entity for retail payment systems
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