Central Banking

RBI lines up ‘pan-India umbrella entity’ to shake up retail payments


The Reserve Bank of India is hoping to encourage growth and innovation in the payments system by launching a privately led, “pan-India umbrella entity” to challenge the dominant incumbent.

The RBI launched the proposals in February, fearing the National Payments Corporation of India, itself an umbrella entity founded by the central bank and banks, had gained too much market power.

Having consulted on the proposals, the RBI finalised its plan for the new umbrella entity on August 18. It will be

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: