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Six consortiums apply to RBI for NUE licence for retail payments


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The bank consortium is led by Axis Bank and
ICICI Bank, with 20% each and co-promoting an entity called MoPay. This consortium also has BillDesk, Pine Labs, Amazon and Visa with 15% stake each, sources directly aware of the talks told ET.
A consortium led by Reliance Industries and Infibeam Avenue has also submitted its proposal Wednesday. Facebook and Google are set to have minority stakes in this entity, as reported by ET in February.
Tata Group has also applied for the NUE licence through its subsidiary Ferbine Payments. It will own 40% in the entity while Airtel Digital, Mastercard and Nabard will hold 10% each. Flipkart, through its subsidiary FlipPay, and Naspers-backed PayU will own about 5% each in the Tata entity. HDFC Bank and Kotak Mahindra Bank will hold 9.99% each in Ferbine. ....

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hdfc bank: Government flags SBI-HDFC Bank-Bank of Baroda's NUE plan to rival NPCI


Synopsis
The government doesn t want public sector banks, which SBI and Bank of Baroda are, to compete against RuPay and UPI that are run by the National Payments Corporation of India (NPCI).
Agencies
SBI, HDFC Bank and Bank of Baroda together process over 50% of all digital transactions, including by their own customers and third-party networks such as NPCI s UPI.
Mumbai: The finance ministry has raised concerns over
State Bank of India’s plan to set up a joint venture with
Bank of Baroda under the central bank’s new umbrella entity (NUE) framework, worried that it could squeeze the National Payments Corporation of India (NPCI), three people aware of the matter told The Economic Times. ....

Jio Infocomm , Jan Dhan Yojana , Indian Bank Association , National Financial Switch , National Payments Corporation Of India , National Payments Corporation , Unified Payments Interface , Reserve Bank , Reliance Jio Infocomm , Infibeam Avenue , Immediate Payments System , Jan Dhan , Hdfc Bank , New Umbrella Entity , Reserve Bank Of India , State Bank Of India , Bank Of Baroda , Digital Payments , ஜிோ இன்பொக்கோம்ம் , ஜான் தன் யோஜனா , இந்தியன் வங்கி சங்கம் , தேசிய நிதி சொடுக்கி , தேசிய கொடுப்பனவுகள் நிறுவனம் ஆஃப் இந்தியா , தேசிய கொடுப்பனவுகள் நிறுவனம் , ஒருங்கிணைந்த கொடுப்பனவுகள் இடைமுகம் , இருப்பு வங்கி ,