Infolex NewsAlert | RBI Framework for Authorization of pan-India Umbrella Entity for Retail Payment

Published On: 31/08/2020


Nilima Pant
Shreya Suri
Avimukt Dar
Namita Viswanath
The Reserve Bank of India issued a Press Release on August 18, 2020, placing on its website a 'framework for authorization of pan-India umbrella entity for retail payments'. The Framework is a welcome move by the RBI towards setting up an alternative to the NPCI in response to the emerging issues of concentration risk in retail payment systems. INDUSLAW’s Avimukt Dar, Namita Viswanath, Shreya Suri, and Nilima Pant discuss the key aspects of the Framework.