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Cholamandalam Investments joins NUE consortium Viswakarma Payments By IANS | 5 Views Govt lines up PSUs for share buyback as disinvestment falters.. Image Source: IANS News Chennai, April 6 : Cholamandalam Investment and Finance Company Ltd on Tuesday said it is one of the companies participating in a consortium - Vishwakarma Payments Pvt Ltd - that has applied for the New Umbrella Entity (NUE) license for Retail Payments with the Reserve Bank of India (RBI). Non-banking finance company (NBFC) Cholamandalam Investment is part of the city-based Murugappa Group. With aspirations to fuel a less-cash and more-digital micro-payments economy, the RBI has set up a framework to authorise pan-India umbrella entities that will focus on retail payment systems. ....
Cholamandalam Finance joins a consortium for retail payments Posted On: 2021-04-06 10:20:13 (Time Zone: Arizona, USA) Cholamandalam Investment and Finance Company Limited (Chola), the financial services arm of Murugappa Group, today announced that it is one of the companies participating in a consortium - Vishwakarma Payments Pvt. Ltd., that has applied for an NUE (New Umbrella Entity) license for Retail Payments with RBI. With aspirations to fuel a less-cash and more-digital micro-payments economy, RBI has set up a framework to authorise pan-India Umbrella Entities that will focus on retail payment systems. The interoperable infrastructure will cater to banks and non-banks and enable innovative use-cases to solve the diversity, depth and width of consumers and small businesses in India. The consortium expects to focus on building an agile platform for seamless digital payments. ....
Cholamandalam Finance forms part of consortium for retail payments license business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
RIL, Google, Facebook to be pitted against Visa, Mastercard; here s how The consortium comprising Google, Facebook and Infibeam Avenue will likely offer its payment services overseas. The NUE, if granted an operating licence, is going to be positioned against global payments giants such as Mastercard and Visa in some markets BusinessToday.In | April 5, 2021 | Updated 12:18 IST The RIL-led consortium had applied for the NUE licence last week Reliance Industries Ltd (RIL)-led consortium is planning to take its proposed New Umbrella Entity (NUE) global. The consortium comprising Google, Facebook and Infibeam Avenue will likely offer its payment services overseas. The NUE, if granted an operating licence, is going to be positioned against global payments giants such as Mastercard and Visa in some markets. ....
Galloping Unicorns SUBSCRIBE We ll soon meet in your inbox. / Morning Dispatch Good morning, A little over a fortnight ago, we reported that early-stage startups are witnessing a funding frenzy, reminiscent of the go-go days of 2014-15. Turns out, unicorns are making the most of the investor interest in fact, between January and March, fundraising was at a record high for the fourth quarter of any fiscal. Also in today’s newsletter: TikTok restructuring India team Boom time for Indian IT Startup funding in Q4 $3.65 billion Some of India’s most-valued startups from Byju’s to Zomato witnessed large funding rounds in the first three months of 2021, bucking the trend set in the pandemic year. ....