NUE
NUE or new umbrella entity is a non-profit entity to create alternate payment mechanisms to the NPCI (National Payments Corporation of India). The idea was floated by RBI and it had set March 31st as the deadline for companies to submit their applications for establishing NUEs. The NUEs will establish, manage and operate payment systems, mainly in the retail space. These will also develop new payment standards, methods and technologies.
Originally written on
March 8, 2021
and last modified on
February 20, 2022.
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