Nue Rbi Framework News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Updated Feb 26, 2021 | 16:07 IST
The NUE framework was unveiled in August last year, with the central bank also opening the window for applications. Entities receiving approval can set up a payments company
RBI extends deadline for NUE applications to March 31st 
New Delhi: The Reserve Bank of India on Friday extended the deadline for New Umbrella Entity (NUE) applications to March 31st. The central bank had released the framework for authorisation of pan-India Umbrella Entity for retail payments on August 18, 2020, and invited applications from desirous entities. 
Given the process involved for complying with the framework prescriptions, a timeline of six months was provided therefor, i.e., up to February 26, 2021. The deadline has now been extended to March-end as various stakeholders including Indian Banks’ Association asked for an extension. ....

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