RBI proposes draft rules to set up alternative retail payments system1 min read 11 Feb 2020, 01:56 PM IST
The entity will be incorporated under the Companies Act, 2013, with a minimum paid-up capital of ₹500 crore
A minimum net-worth of ₹300 crore shall be maintained at all times
Mumbai: The Reserve bank of India on Tuesday proposed a draft framework for setting up a new umbrella entity (NUE) focussed on retail payments system, along the lines of National Payments Corporation of India (NPCI).
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