This Article is From Feb 11, 2020

RBI Releases Draft Framework For New Payment System

At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

RBI Releases Draft Framework For New Payment System

The RBI has invited comments on the draft framework from all stakeholders by February 25

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems.

The central bank has invited comments on the draft framework from all stakeholders by February 25.

At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.