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SBI: SBI makes a fresh case for NUE play - The Economic Times

The state-owned lender has also argued that transformation in the payments space can happen independent of the National Payments Corporation (NPCI) and could sew up a team of peer public lenders if the finance ministry eases its stance. ....

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What Is NUE Licence For Retail Payments & How Is It Going To Change Digital Payments In India?

What Is NUE Licence For Retail Payments & How Is It Going To Change Digital Payments In India?
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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Tata Group, HDFC Bank, Kotak Mahindra Bank team up for payment gateway licence: report

03 March 2021
The Tata Group is reported to have taken over State Bank of India and Bank of Baroda’s bid for a Reserve Bank of India (RBI) licence to set up a New Umbrella Entity (NUE) for retail payments in the country, the Economic Times reported.
The move to apply for a NUE licence is part of a concerted effort by the group to develop and roll-out its Super App, for a big entry in the online retail space and set up competition with Reliance and Amazon.
RBI is reported to have rejected the bids of state-run SBI and BoB for setting up the NUE, which has since been lapped up by Tata Group along with HDFC Bank and Kotak Mahindra Bank. ....

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Several big businesses are in fray for setting up NUE. What is it?

As digital payments in India continue to grow, several prominent business establishments in India including Reliance Industries, the Tata Group and digital payments major Paytm are reportedly in fray for setting up New Umbrella Entity (NUE) for retail payments.
Moreover, several global tech giants including Facebook, Google and Amazon have tied up with Indian organisations for being a part of such an entity which would rival the likes of National Payments Corporation of India (NPCI).
But what is the NUE licence that a number of big businesses are vying for?
The Reserve Bank of India (RBI) came up with a framework for the pan-India umbrella entity for retail payments back in August 2020, wherein the central bank said that an entity must have a minimum paid-up capital of Rs 500 crore. ....

Tata Group , National Payments Corporation Of India , Reliance Industries , New Umbrella Entity , National Payments Corporation , Reserve Bank , Companies Act , Economy Of India , E Commerce In India , Mobile Payments In India , Online Payments , Nifty 50 , Bse Sensex , Oil Amp Gas Refining And Marketing Nec , Banks Nec , Internet Amp Mail Order Department , டாடா குழு , தேசிய கொடுப்பனவுகள் நிறுவனம் ஆஃப் இந்தியா , நம்பகத்தன்மை தொழில்கள் , புதியது குடை நிறுவனம் , தேசிய கொடுப்பனவுகள் நிறுவனம் , இருப்பு வங்கி , நிறுவனங்கள் நாடகம் , பொருளாதாரம் ஆஃப் இந்தியா , ஏ வர்த்தகம் இல் இந்தியா , கைபேசி கொடுப்பனவுகள் இல் இந்தியா ,

ETtech Morning Dispatch on March 2, 2021: How's it Co-WIN?

ETtech Morning Dispatch on March 2, 2021: How s it Co-WIN?
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/ Morning Dispatch
Good morning,
In January we reported that India’s vaccination drive got off to a poor start, thanks to glitches in the government’s Co-WIN portal. Yesterday, more than a month later, the drive was extended to some members of the general public for the first time, but the same problems persisted. It seems this issue could take the government months rather than weeks to resolve, which isn’t good news for anyone.
Elsewhere in today’s letter: ....

Jammu And Kashmir , United States , Amitesh Jha , Keki Mistry , Surabhi Washishth , Aditya Mishra , Amit Somani , Leigh Hopkins , Suresh Kumar , Govind Mundhra , Dhruv Washishth , Ranjith Boyanapalli , Hemant Badri , Association Of India , Insikt Group , Ministry Of Health , Ministry Of Information Broadcasting , Amazon Web Services Or Azure , National Payments Corporation Of India , Information Technology , Immigration Services , Walmart Inc , Ministry Of Electronics , Ciel Hr Services , Ministry Of Health Family Welfare , Family Welfare ,