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RBI publishes draft framework for new payment system

RBI has invited comments on the draft framework from all stakeholders by February 25

twitter-logoReuters | February 11, 2020 | Updated 08:45 IST
RBI publishes draft framework for new payment system

The Reserve Bank of India (RBI) on Monday published draft framework for authorisation of a new pan India umbrella organization 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.

Also read: RBI offers CRR exemption to banks for lending to auto, housing, MSMEs

Also read: RBI Monetary Policy: Your interest rate on home, car loans won't reduce anytime soon

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