RBI & Regulating New Umbrella Entities | न्यू अंब्रेला एंटिटी और रिजर्व बैंक

The RBI had unveiled the framework for setting up the umbrella entity. As per the guidelines, companies with at least three years’ experience and a net worth of over Rs500 crore will be eligible to set up the umbrella entity which among other things will be permitted to set up, manage and operate new payment systems in the retail space comprising ATMs, White Label PoS, Aadhaar-based payments and remittance services.