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Top banks, corporates eye new umbrella entity licence; last date to apply extended to March 31

Updated : February 26, 2021 04:57 PM IST

A consortium of 4-5 top banks and payment companies will join their hands with top corporates to throw their hat in the ring for a New Umbrella Entity (NUE) license.
The license will let them set up a pan-India umbrella entity for retail payment systems with powers similar to NPCI.
The banks may come on board as investors when they apply for a license.
Published : February 26, 2021 08:01 AM IST

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