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Committee on NUE licenses
September 6 , 2021
1126 days
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- The Reserve Bank of India will set up a committee to scrutinize applications and give recommendations on New Umbrella Entity (NUE) licenses.
- The 5-member committee will be headed by P. Vasudevan.
- The committee will be responsible for looking into several aspects of NUE, from the macroeconomic impact of such a step to the security risks.
Note
- The New umbrella entities will be set up for profit entities that will manage payments in the retail space.
- The RBI invited companies to create a new Umbrella Entities network that would rival the National Payments Council of India.
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