Money & Banking

New umbrella entity for retail payments: RBI extends timeline to make application up to March 31

Our Bureau Mumbai | Updated on February 26, 2021

The Reserve Bank of India on Friday extended the time to make application for authorisation as a pan-India new umbrella entity for retail payments to March 31, 2021.

“Requests have been received from various stakeholders including Indian Banks’ Association for extending the timeline, keeping in view the Covid-19 related disruptions and inconveniences. It has been accordingly decided to extend the timeline for making the application up to March 31, 2021,” the RBI said.

The earlier due date was today (February 26).

Published on February 26, 2021

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