Financial Services
Amazon, ICICI Bank, Axis Bank & Others To Present Joint NUE Proposal To RBI
25 Feb 2021
- Last year, RBI announced that private entities, subject to
certain requirements, would be eligible to apply for an NUE license
- An NUE has been envisaged as an entity with functions
similar to the Indian government-owned National Payments Corporation of India
(NPCI) which owns and operates the UPI interface as well as the RuPay network
- Previous reports had suggested that big tech giants such as
Google, Facebook and Amazon may try and tap into the NUE opportunity by
partnering with Indian companies
The full article was originally published on Inc42