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RBI Releases Draft Framework For New Payment System

RBI New Payment System

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan-India umbrella organisation for retail payment systems.

The central bank has invited comments on the draft framework from all stakeholders by February 25.

At present, National Payments Corporation of India (NPCI) is an umbrella organisation for retail payments systems.

SOURCE: bit.ly/2uA4DKx

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