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        FEMA & RBI

        RBI releases framework for authorisation of pan-India Umbrella Entity for Retail Payments

        August 18, 2020

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        Reserve Bank has today placed on its website, the ‘framework for authorisation of pan-India Umbrella Entity for Retail Payments’. The framework has been released after due deliberations on the comments / feedback received on the ‘draft framework for authorisation of a pan-India New Umbrella Entity for Retail Payment Systems’ which was placed on Reserve Bank’s website on February 10, 2020 inviting public comments.

        The Reserve Bank invites applications for the umbrella entity which shall be submitted in the prescribed form (Form A) till the close of business on February 26, 2021.

        (Yogesh Dayal)     
        Chief General Manager

         

        Umbrella Entity authorisation: RBI invites applications under new pan-India retail payments framework, applicants to use prescribed Form A. The regulatory authority released a framework for authorisation of a pan India Umbrella Entity for Retail Payments after deliberation on public feedback, and invites prospective applicants to submit applications in the prescribed Form A within the announced submission window to initiate the formal authorisation process.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Umbrella Entity authorisation: RBI invites applications under new pan-India retail payments framework, applicants to use prescribed Form A.

                                The regulatory authority released a framework for authorisation of a pan India Umbrella Entity for Retail Payments after deliberation on public feedback, and invites prospective applicants to submit applications in the prescribed Form A within the announced submission window to initiate the formal authorisation process.


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