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Paytm, Ola join hands with IndusInd Bank to create NPCI rival: Report

Paytm, Ola Financial Services and IndusInd Bank will submit a joint proposal to set up a New Umbrella Entity (NUE) for retail payments in the country

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RIL Joins The Race To Build UPI Rival; Partners With Google And Facebook Inc To Apply For NUE License: Report

Reliance chief Mukesh Ambani. Mukesh Ambani led Reliance Industries Limited (RIL) has partnered with technology behemoths Google and Facebook to seek license from the Reserve Bank of India (RBI) for setting up a New Umbrella Entity (NUE), reports Economic Times. Google and Facebook will hold a small stake in the proposed NUE which will be jointly promoted by a RIL unit and Infibeam Avenues Limited s subsidiary So Hum Bharat . Also, payments industry veteran Navin Surya, who had founded Itzcash, is said to have been appointed as the managing director and chief executive of the entity. Setting up the NUE will enable the Reliance-led consortium to create a national payments network to rival the Unified Payment Interface (UPI) of the National Payments Corporation of India (NPCI), which presently dominates the digital payments ecosystem in the nation.

Mukesh ambaniNavin suryaReliance industries limitedTata groupIndusind bankKotak mahindra bankNational payments corporation of indiaReserve bankNew umbrella entityInfibeam avenues limitedUnified payment interfaceNational payments corporationReliance industries limited rilமுகேஷ் அம்பானிநவீன் சூர்யாநம்பகத்தன்மை தொழில்கள் வரையறுக்கப்பட்டவை

RBI extends due date for NPCI-rival NUE - Times of India

RBI extends due date for NPCI-rival NUE Top Searches RBI extends due date for NPCI-rival NUE TNN / Updated: Feb 27, 2021, 12:11 IST FacebookTwitterLinkedinEMail (Representative image) MUMBAI: The RBI has extended the deadline for submitting applications to set up a new umbrella entity (NUE) in the payments system that will rival the National Payments Corporation of India (NPCI). Earlier, interested parties were to submit their application by February 26, which has now been extended to March 31. According to the RBI, it had received requests from various stakeholders to extend the timeline. “Keeping in view the Covid-related disruptions and inconveniences. It has been accordingly decided to extend the timeline for making the application,” RBI said in a statement.

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RIL partners with Google, Facebook to apply for NUE to launch payments network

RIL partners with Google, Facebook to apply for NUE to launch payments network
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RIL partners with Google, Facebook to apply for NUE to launch payments network

RIL partners with Google, Facebook to apply for NUE to launch payments network
businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.