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Paytm, Ola Financial Services and IndusInd Bank will submit a joint proposal to set up a New Umbrella Entity (NUE) for retail payments in the country

February 27, 2021 Reliance Industries Ltd has partnered with Google and Facebook to seek a license to set up a New Umbrella Entity (NUE) for retail payments in the country, the Economic Times reported. Reliance, Google and Facebook will team up with So Hum Bharat Digital Payments Pvt Ltd to submit their proposal to the Reserve Bank of India (RBI), the report said citing unnamed sources. So far, apart from the So Hum and Reliance joint application for a NUE license, a consortium led by the Tata Group and another led by Amazon-ICICI-Bank-Axis Bank are reportedly in the running to apply for an N...

The COVID-19 pandemic has indisputably changed the way we do business at Zenith Bank and our interactions with stakeholders – not the least in the digitisation of our banking services. With the rollout of a digital retail strategy aimed at driving financial inclusion, we embarked on an aggressive retail marketing and digital banking drive. As a result, Zenith Bank – which is well known for its prowess in developing innovative digital banking products and services – ensured that its customers enjoyed convenient, easy and accessible banking services tailor-made to their needs, since the o...

Amazon is joining hands with ICICI Bank and Axis Bank and several others to create a national payments network that will rival the NPCI's UPI platform

The Finance Ministry has raised concerns over the SBI, HDFC Bank and BoB combine which reportedly plans to jointly apply for a New Umbrella Entity (NUE) license