The Reserve Bank of India (“RBI”) has placed the “Framework for authorisation of pan-India Umbrella Entity for Retail Payments” (Framework”) on its website on 18th August, 2020 after due deliberation on the comments / feedback received on the ‘draft framework for authorisation of a pan-India New Umbrella Entity for Retail Payment Systems’.
RBI now invites application for the pan-India umbrella entity to be submitted in Form A by 26th February, 2021. The Framework details the eligibility criteria, process of application and other particulars for setting up a pan-India Umbrella Entity for Retail Payments.
Source: Reserve Bank of India
