RBI Extends the time to make application for pan-India umbrella entity for retail payments
RBI Extends the time to make application for pan-India umbrella entity for retail payments RESERVE BANK OF INDIA PRESS RELEASE February 26, 2021 Exte…
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Mar 1, 2021RBI Extends the time to make application for pan-India umbrella entity for retail payments
RESERVE BANK OF INDIA
PRESS RELEASE
February 26, 2021
Extension of time to make application for authorisation as a pan-India umbrella entity for retail payments
Reserve Bank had released the framework for authorisation of pan-India Umbrella Entity for retail payments on August 18, 2020 and invited applications from desirous entities. Given the process involved for complying with the framework prescriptions, a timeline of six months was provided therefor, i.e., up to February 26, 2021. 2. Requests have been received from various stakeholders including Indian Banks’ Association for extending the timeline, keeping in view the COVID-19 related disruptions and inconveniences. It has been accordingly decided to extend the timeline for making the application up to March 31, 2021. Press Release: 2020-2021/1161Ajit Prasad Director
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